Project Bluewater Racing

Nonprofit profile at a glance

EIN
201685136
IRS 990-PF coverage
2010–2024
Forms available
Form 990-PF 2024
Location
La Mesa, CA, USA
Phone
6198499850
Rating
78
Verdict
SUPPORTED
Rating confidence
Standard

Reported finances

Revenue
$158,572
Expenses
$234,902

Source: IRS Form 990-PF. Selected filing: tax year 2024. Amounts in USD.

Overview

Mission

Project Bluewater Racing is a nonprofit. Location: La Mesa, CA. EIN 201685136. Tax year 2024 Form 990-PF reports $159K revenue and $235K expenses.

What it reported funding in 2024

The foundation reported 7 grants totaling $66,000. The stated grant purposes included support for the organization's efforts continuing walter munk's legacy of daring exploration and discovery through scientific research, education and ocean conservation. funds to be used for education and related travel expenses of underserved students., with employed satellite tracking, locate and recover some of the largest and most destructive of all plastic pollution-enormous "ghost nets," derelict fishing gear, that drifts below the ocean's surface, entangling ships and entrapping wildlife., and reduce oceanic plastic pollution through research, innovation and direct action. funds to be used to support design and fabrication of a portable plastic waste conversion (ppwc) system capable of converting plastic waste in the water surrounding ulithi atoll into usable diesel fuel and inert char for compost., plus 4 other reported purposes.

Operating model

Revenue model
Investment-supported. 72% of the foundation's positive operating resources came from recurring investment income.
Distribution model
Hybrid. The foundation combined direct charitable work with grants to other organizations or people.
  • Includes asset-sale income: Asset-sale income is shown separately from recurring resources when classifying the revenue model.

The verdict

SUPPORTED - A large share of available resources goes to charitable grants and the filed numbers largely add up. A relatively small share of spending goes to grants and assets provide a limited cushion relative to annual grants.

Rating breakdown

  • Grant Deployment: 100
  • Cost Efficiency: 28
  • Transparency: 100
  • Compliance: 100
  • Endowment Health: 25

Detailed rating inputs

Grant Deployment

  • Grant deployment ratio: 100%; rating input score 100; 95th percentile among comparable filings

Cost Efficiency

  • Grant expense ratio: 28.1%; rating input score 28; 11th percentile among comparable filings

Transparency

  • Grant recipient disclosure: Yes; rating input score 100

Compliance

  • Part VII-B activity disclosures: 18 of 18 controls in place; rating input score 100
    • Property sale or exchange with a disqualified person: Pass
    • Borrowing from or lending to a disqualified person: Pass
    • Goods, services, or facilities involving a disqualified person: Pass
    • Compensation paid to a disqualified person: Pass
    • Assets transferred to a disqualified person: Pass
    • Payment to a government official: Pass
    • Uncorrected prior self-dealing: Pass
    • Prior-year undistributed income: NotApplicable
    • Excess business holdings: Pass
    • Investments that may jeopardize charitable purposes: Pass
    • Uncorrected prior-year jeopardizing investments: Pass
    • Attempt to influence legislation: Pass
    • Attempt to influence an election: Pass
    • Grants to individuals: Pass
    • Grants to organizations: Pass
    • Spending for a noncharitable purpose: Pass
    • Funds received for a personal-benefit contract: Pass
    • Premiums paid on a personal-benefit contract: Pass
    • Prohibited tax-shelter transaction: Pass
  • Filing consistency checks: 10; rating input score 100

Endowment Health

  • Endowment-health comparison: 10.69; rating input score 25; 25th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Grants: 100% of grant recipient detail disclosed
  • Payout: At least 100% grant deployment rate
  • Trustees: Filed trustees detail
  • Self-dealing: 100% of reviewed questions answered “No”
  • Investments: 25th percentile for endowment coverage
  • Consistency: 10 of 10 current checks pass
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • 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.

  • High — Cost Efficiency: Grant expense ratio scored 28/100.
  • High — Endowment Health: Endowment-health comparison scored 25/100.