Blue Waters Foundation Inc
Blue Waters Foundation Inc. experienced a sudden and massive revenue surge in 2023, accumulating significant assets with relatively low reported expenses.
EIN: 161643931 · Annapolis, MD · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $114K |
| Total Expenses | $561K |
| Program Spending | 75% |
| Net Assets | $22.3M |
| Transparency Score | 55/100 |
Is Blue Waters Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Blue Waters Foundation Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Blue Waters Foundation Inc
Blue Waters Foundation Inc (EIN: 161643931) is a nonprofit organization based in Annapolis, MD, classified under NTEE code T22. The organization reported total revenue of $114K and total assets of $21.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Blue Waters Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Blue Waters Foundation Inc is a small nonprofit that has been operating for 23 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 93.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $21.5M |
| Total Expenses | $561K |
| Surplus / Deficit | +$20.9M |
| Total Assets | $22.3M |
| Total Liabilities | $1 |
| Net Assets | $22.3M |
| Operating Margin | 97.4% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 475.8 months |
Financial Health Grade: A
In 2023, Blue Waters Foundation Inc reported a surplus of $20.9M with revenue exceeding expenses, holds 475.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Blue Waters Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 93.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +93390773.9% | +161.6% | +1418.1% |
| 2022 | +1050.0% | +21.8% | -6.4% |
| 2021 | -100.0% | -10.4% | -5.1% |
| 2020 | +130376.0% | +12.8% | -6.5% |
| 2019 | -99.9% | +750.7% | +15074.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Blue Waters Foundation Inc with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Blue Waters Foundation Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $20.9M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all filings, suggesting that its leadership may be entirely volunteer-based or compensated through non-officer roles, which warrants further investigation for full transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Blue Waters Foundation Inc's IRS 990 filings:
- Extremely volatile and unexplained revenue patterns, with a sudden $21 million spike in 2023 after years of negligible income.
- Disproportionately low expenses ($561,282 in 2023) compared to the massive 2023 revenue ($21,479,901), indicating significant asset accumulation rather than immediate program spending.
- Lack of detailed expense breakdown to assess program efficiency and administrative overhead.
- Consistent reporting of zero officer compensation, which, while possible, can sometimes obscure how leadership is truly compensated.
Strengths
The following positive indicators were identified for Blue Waters Foundation Inc:
- Significant growth in assets to over $22 million in 2023, providing a strong financial base.
- Low reported liabilities ($1 across multiple years), indicating minimal debt burden.
Frequently Asked Questions about Blue Waters Foundation Inc
Is Blue Waters Foundation Inc a legitimate charity?
Blue Waters Foundation Inc (EIN: 161643931) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 55/100. It has 10 years of IRS 990 filings on record. Total revenue: $114K. 4 red flags identified. 2 strengths noted. Financial health grade: A.
How does Blue Waters Foundation Inc spend its money?
Blue Waters Foundation Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Blue Waters Foundation Inc tax-deductible?
Blue Waters Foundation Inc is registered as a tax-exempt nonprofit (EIN: 161643931). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Blue Waters Foundation Inc's spending goes to programs?
Blue Waters Foundation Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Blue Waters Foundation Inc compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Blue Waters Foundation Inc is near average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Blue Waters Foundation Inc located?
Blue Waters Foundation Inc is headquartered in Annapolis, Maryland and files with the IRS under EIN 161643931. It is classified under NTEE code T22.
How many years of IRS 990 filings does Blue Waters Foundation Inc have?
Blue Waters Foundation Inc has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $114K in total revenue.
What caused the dramatic increase in revenue to over $21 million in 2023, compared to negligible revenue in prior years?
The provided data does not specify the source of this sudden and substantial revenue increase. Further investigation into the 2023 IRS 990 filing would be necessary to identify the nature of this income.
How does Blue Waters Foundation Inc. utilize its substantial assets, which grew to over $22 million in 2023?
With assets exceeding $22 million and relatively low expenses ($561,282 in 2023), the organization appears to be accumulating significant reserves. The specific use or investment strategy for these assets is not detailed in the provided summary.
What are the specific program activities and their associated costs, given the low reported expenses relative to the 2023 revenue?
The summary data does not provide a detailed breakdown of program expenses. Given the $21 million revenue in 2023 and $561,282 in total expenses, the proportion of funds directly applied to programs is unclear without a more granular expense report.
Is the organization truly volunteer-led, or is executive compensation reported under a different category?
The consistent reporting of 0% officer compensation suggests a volunteer leadership. However, it is important to verify if any compensation is being paid to key employees or related parties under other expense categories.
Filing History
IRS 990 filing history for Blue Waters Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Blue Waters Foundation Inc's revenue has grown by 277060%, moving from $8K to $21.5M. Total assets increased by 27480.5% over the same period, from $81K to $22.3M. Total functional expenses rose by 1380.6%, from $38K to $561K. In its most recent filing year (2023), Blue Waters Foundation Inc reported a surplus of $20.9M, with revenue exceeding expenses. The organization holds $1 in liabilities against $22.3M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $22.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $21.5M | $561K | $22.3M | $1 | — | — |
| 2022 | $23 | $215K | $1.5M | $1 | — | View 990 |
| 2021 | $2 | $176K | $1.6M | $1 | — | View 990 |
| 2020 | $33K | $197K | $1.6M | $1 | — | View 990 |
| 2019 | $25 | $174K | $1.8M | $1 | — | — |
| 2015 | $17K | $20K | $12K | $1 | — | View 990 |
| 2014 | $15K | $23K | $24K | $1 | — | View 990 |
| 2013 | $12K | $15K | $39K | $1 | — | View 990 |
| 2012 | $60K | $42K | $50K | $1 | — | View 990 |
| 2011 | $8K | $38K | $81K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $21.5M, expenses of $561K, and assets of $22.3M (revenue +93390773.9% year-over-year).
- 2022: Revenue of $23, expenses of $215K, and assets of $1.5M (revenue +1050.0% year-over-year).
- 2021: Revenue of $2, expenses of $176K, and assets of $1.6M (revenue -100.0% year-over-year).
- 2020: Revenue of $33K, expenses of $197K, and assets of $1.6M (revenue +130376.0% year-over-year).
- 2019: Revenue of $25, expenses of $174K, and assets of $1.8M (revenue -99.9% year-over-year).
- 2015: Revenue of $17K, expenses of $20K, and assets of $12K (revenue +14.7% year-over-year).
- 2014: Revenue of $15K, expenses of $23K, and assets of $24K (revenue +25.9% year-over-year).
- 2013: Revenue of $12K, expenses of $15K, and assets of $39K (revenue -80.5% year-over-year).
- 2012: Revenue of $60K, expenses of $42K, and assets of $50K (revenue +674.4% year-over-year).
- 2011: Revenue of $8K, expenses of $38K, and assets of $81K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Blue Waters Foundation Inc:
Data Sources and Methodology
This transparency report for Blue Waters Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.