Seaworthy Foundation Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
Seaworthy Collective is a Miami-based 501c3 nonprofit that supports current and aspiring entrepreneurs driving innovation for ocean impact AKA BlueTech. Our mission is to bring all hands on deck for BlueTech via programs to co-create and grow early-stage startups build regional capacity and educate our community.
- Income
- $431,973
- Spending
- $557,273
- Spent on programs
- 79%
- Reserves
- 5.4 months of spending
- Largest source of income
- government grants, 71%
- Employees
- 0
- Volunteers
- 0
- Highest pay
- $80,000, founder ceo
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 60 out of 100. Higher than 22% of charities in its peer group (environment, $250k to $1m).
Reserves
20 of 35Spendable reserves would cover 5.4 months of spending.
Debt
20 of 20It owes 0% of what it owns.
Living within its means
0 of 15Spending exceeded income by 29% of income.
Income trend
5 of 15Income fell 18% on the year before.
Spending floor
15 of 1579% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 84 out of 100. Higher than 61% of charities in its peer group (environment, $250k to $1m).
Independent board
18 of 253 of 3 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
6 of 15Its accounts were not audited or reviewed by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (5)
- $286,998 spent. Seaworthys flagship startup program provides 12 weeks of bespoke support for both current and aspiring founders including access to Seaworthys global network resources service providers 1-on-1 support business curriculum grants support and opportunities for visibility. Each cohort group of startups consists of 7 startups with up to 2 cohorts per year.
- $67,981 spent. Our largest annual or bi-annual event in May and or October elevating the work of Seaworthy founders participating in our latest cohort. Founders share their latest pitches and progress developed during the startup programs. The event features a distinguished keynote speaker partner spotlights and major announcements.
- $51,859 spent. Seaworthys 2 month program equips students and professionals who are aspiring BlueTech founders with the knowledge skills and support needed to build an ocean impact startup. Each program occurs in partnership with universities industry associations and additional stakeholders in workforce development.
- $17,404 spent. From the Miami Climate Happy Hour to the BlueTech Startupsphere during New York Climate Week we co-create events with mission-aligned partners to bridge communities and drive grassroots engagement.
- $15,256 spent. Seaworthys educational events featuring founders participating in our startup programs provides a platform to share their thought leadership and serve as role models for our community.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since March 2022.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.