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Nonprofit · EIN 20-1685136

PROJECT BLUEWATER RACING

Tax-exempt · LA MESA, CA 91941

Financials

$103K$74K2023$159K$235K2024
Revenue Expenses · by fiscal year end
Financials of PROJECT BLUEWATER RACING by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990-PF$158,572$234,902-$76,330$705,732$7,084$698,648
December 31, 2023990-PF$103,371$73,731$29,640$888,749$5,823$882,926
Financial details: 990-PF for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$10,440
Dividends
$10,422
Interest
$386
Net rental income
-$4,134
Net gain from sales of assets
$121,795

Expenses

Grants and similar amounts paid
$66,000
Compensation of officers, directors and key employees
$63,364
Disbursements for charitable purposes
$212,927
Excise tax on investment income
$1,854

Balance sheet and other

Total assets, start of year
$888,749
Total assets, end of year
$705,732
Total liabilities, end of year
$7,084
Net assets, end of year
$698,648
Fair market value of assets
$1,378,214
Qualifying distributions
$212,927
Net investment income
$148,132

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
ROBERT E CAPITA
4082 NABAL DRIVE, LA MESA, CA 91941
PRESIDENT/CEO32$63,364
NICHOLAS DORN
208 ROSSE LN APARTMENT 203, STANFORD, CA 94305
VICE PRESIDENT4$0
MARIANNA N CAPITA
4082 NABAL DRIVE, LA MESA, CA 91941
TREASURER2$0
TOBIE BLOOM
8022 CAMINO TRANQUILO, SAN DIEGO, CA 92122
SECRETARY14$0
CANYON BREYER
5024 MAYNARD STREET, SAN DIEGO, CA 92122
TRUSTEE10$0
SCHUYLER D CAPITA
4082 NABAL DRIVE, LA MESA, CA 91941
TRUSTEE1$0
BRADDON R CAPITA
235 LOWER PLATEAU RD, BILGOLA PLATEAU, 2107, AS
TRUSTEE1$0
990-PF for the year ended December 31, 2023: 7 people
NameTitleHours / weekCompensation
ROBERT E CAPITA
4082 NABAL DRIVE, LA MESA, CA 91941
PRESIDENT/CEO32$15,476
NICHOLAS DORN
208 ROSSE LN APARTMENT 203, STANFORD, CA 94305
VICE PRESIDENT4$0
MARIANNA N CAPITA
4082 NABAL DRIVE, LA MESA, CA 91941
TREASURER2$0
TOBIE BLOOM
8022 CAMINO TRANQUILO, SAN DIEGO, CA 92122
SECRETARY14$0
CANYON BREYER
5024 MAYNARD STREET, SAN DIEGO, CA 92122
TRUSTEE10$0
SCHUYLER D CAPITA
4082 NABAL DRIVE, LA MESA, CA 91941
TRUSTEE1$0
BRADDON R CAPITA
235 LOWER PLATEAU RD, BILGOLA PLATEAU, NSW 2107, AS
TRUSTEE1$0

Address and contacts

Address (IRS master file)
4082 NABAL DR, LA MESA, CA 91941-7038
In care of
% ROBERT CAPITA
Signed the 990-PF
ROBERT E CAPITA, PRESIDENT/CEO
Phone
(619) 849-9850
Return prepared by
FIRSTPURPOSE TAX

What it must file and when

IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990-PF on file
2023December 31, 2023May 15, 2024990-PF on file

IRS record

EIN
20-1685136
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Private non-operating foundation
Donations deductible (Pub 78)
Private foundation, 30% limit
Exempt since
2005
Accounting year ends
December
Files
Form 990-PF
Assets (IRS master file)
$705,732
Income (IRS master file)
$275,222

Filing history

FormYear endedRevenueExpensesAssetsReturn
990-PFDecember 2024–––IRS
990-PFDecember 2023$103,371$73,731$888,749IRS
990-PFDecember 2022–––IRS
990-PFDecember 2021–––IRS
990-PFDecember 2020–––IRS
990-PFDecember 2018–––IRS

990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.

Questions about PROJECT BLUEWATER RACING

What is the EIN of PROJECT BLUEWATER RACING?
The employer identification number (EIN) of PROJECT BLUEWATER RACING is 20-1685136.
Is PROJECT BLUEWATER RACING tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2005.
Are donations to PROJECT BLUEWATER RACING tax-deductible?
Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
Which annual return does PROJECT BLUEWATER RACING file?
Form 990-PF. Private foundations file every year.
When is the next return of PROJECT BLUEWATER RACING due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did PROJECT BLUEWATER RACING last file with the IRS?
The latest return in the IRS public files is the 990-PF for the year ended December 2024.
Who are the officers and directors of PROJECT BLUEWATER RACING?
The 990-PF for the year ended December 31, 2024 lists 7 people; 1 received compensation from the organization, the highest $63,364 (ROBERT E CAPITA, PRESIDENT/CEO).
How much revenue does PROJECT BLUEWATER RACING have?
On its 990-PF for the year ended December 31, 2024 it reported revenue of $158,572, expenses of $234,902 and total assets of $705,732 at year end.

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