Wheels & Keels Foundation Inc
- Assets
- $167.7k
- Revenue
- $170.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Vero Beach, FL
- Founding
- 12/2015
- Data as of
- 06/2023
- EIN
- 47-4684048
Organization Overview
Wheels & Keels Foundation Inc is located in Vero Beach, FL. The organization was established in 2015. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wheels & Keels Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Wheels & Keels Foundation Inc generated $170.8k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 39.8% each year . All expenses for the organization totaled $173.4k during the year ending 06/2023. While expenses have increased by 35.3% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Wheels & Keels Foundation Inc has awarded 20 individual grants totaling $392,680. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WHEELS & KEELS FOUNDATION, INC. PROVIDES FUNDING TO SELECTED ORGANIZATIONS WHOSE ACTIVITIES STRIVE TO IMPROVE THE LIVES OF CHILDREN AND ADULTS IN THE TREASURE COAST COMMUNITY. THE FOUNDATION CONCENTRATES ON THE SUPPORT OF THOSE ORGANIZATIONS THAT ARE LESS ABLE TO ATTRACT SUPPORT FROM LARGER CHARITABLE ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ANNUAL ACTIVITY CONSISTS OF A FUNDRAISING DINNER FOLLOWED BY A CAR AND BOAT SHOW. THE 2023 SHOW BENEFITED 10 CHARITABLE 501(C)(3)ORGANIZATIONS SERVING THE INDIAN RIVER COUNTY COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gavin Ruotolo Chief Executive Officer | OfficerTrustee | 2 | $0 |
Vincent Deturris President | OfficerTrustee | 2 | $0 |
Gordon Sulcer Vice President | OfficerTrustee | 2 | $0 |
Annetta Gregg Secretary/treasurer | OfficerTrustee | 2 | $0 |
Amanda Ford Director | Trustee | 2 | $0 |
Sam Gagliano Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $62,650 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $26,092 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $88,742 |
| Total Program Service Revenue | $0 |
| Investment income | $52 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $82,022 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $170,816 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $146,180 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,211 |
| Office expenses | $3,484 |
| Information technology | $9,033 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $569 |
| All other expenses | $0 |
| Total functional expenses | $173,392 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,192 |
| Savings and temporary cash investments | $130,556 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $167,748 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,500 |
| Total liabilities | $16,500 |
| Net assets without donor restrictions | $151,248 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $167,748 |
Grants Awarded
Over the last fiscal year, Wheels & Keels Foundation Inc has awarded $138,430 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
THE ARC OF INDIAN RIVER COUNTY INC PURPOSE: GENERAL SUPPORT OF CHARITABLE ACTIVITIES. | $18,800 |
CROSSOVER MISSION INC PURPOSE: GENERAL SUPPORT OF CHARITABLE ACTIVITIES. | $26,000 |
LINES IN THE LAGOON INC PURPOSE: GENERAL SUPPORT OF CHARITABLE ACTIVITIES. | $8,750 |
NATIONAL NAVY SEAL MUSEUM PURPOSE: GENERAL SUPPORT OF CHARITABLE OPERATIONS OF THE ORGANIZATION'S TRIDENT HOUSE PROGRAM. | $21,350 |
SPECIAL EQUESTRIANS OF THE TREASURE COAST INC PURPOSE: GENERAL SUPPORT OF CHARITABLE OPERATIONS. | $23,255 |
VERO BEACH ROWING INC PURPOSE: GENERAL SUPPORT OF CHARITABLE OPERATIONS. | $17,675 |