Floatarama Inc

Nonprofit profile at a glance

EIN
873441222
IRS 990 coverage
2023–2025
Forms available
Form 990 2025, Form 990-EZ 2022
Location
Fort Lauderdale, FL, USA
Phone
2027464093
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$298,148
Expenses
$268,479
Assets
$159,704
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • Scott Schramm (President)
  • Roderick MacKenzie (Vice President and Treasurer)

People named in this filing

  • Scott Schramm (President)
  • Roderick MacKenzie (Vice President and Treasurer)
  • Diana Hanford (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The primary exempt purpose of Floatarama Inc is to raise awareness and funds to support at-risk LGBTQ Youth through events including the FLoatarama Flotilla, Founder's Club, Youth Fund Awards, Philanthropic Travel, associated activities and other events.

What it reported doing in 2025

FLoatarama donated $160,000 to the FLoatarama LGBTQ Youth Fund managed by The Our Fund Foundation and $1,750 to other minor donations.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 64% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 88
  • Accountability: 88
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.3%; rating input score 84
  • Program expense ratio: 93.6%; rating input score 94
  • Fundraising efficiency: $19.68 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 15th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.9%; rating input score 99; 61st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 10%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 0.59; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 17.8% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 24.9% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 46.3% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 84.3% of revenue deployed · 93.6% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $251K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 41 of 42 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2023 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Fundraising efficiency scored 55/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.
  • Review — Sustainability: Operating margin scored 56/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.