Triangle Aquatic Center
- Assets
- $23.6m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 228
- Location
- Cary, NC
- Founding
- 10/2002
- Data as of
- 12/2021
- EIN
- 14-1839387
Organization Overview
Triangle Aquatic Center is located in Cary, NC. The organization was established in 2002. According to its NTEE Classification (N30) the organization is classified as: Physical Fitness & Community Recreational Facilities, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Triangle Aquatic Center employed 228 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Triangle Aquatic Center 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 12/2021, Triangle Aquatic Center generated $5.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $4.8m during the year ending 12/2021. While expenses have increased by 5.2% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD AND OPERATE PUBLIC AQUATIC FACILITIES FOR THE HEALTH, SAFETY, RECREATION AND COMPETITION NEEDS OF TRIANGLE CITIZENS AND AQUATIC ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AQUATIC SERVICES - TO BUILD AND OPERATE PUBLIC AQUATIC FACILITIES FOR THE HEALTH, SAFETY,RECREATION AND COMPETITION NEEDS OF TRIANGLE CITIZENS AND AQUATIC ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Chignell Chairman | OfficerTrustee | 3 | $0 |
Michael Curran Past Chairma | OfficerTrustee | 3 | $0 |
Robyn Curran Secretary | OfficerTrustee | 3 | $0 |
Joel Graybeal Treasurer | OfficerTrustee | 3 | $0 |
Derek Wall Vice Chairma | OfficerTrustee | 3 | $0 |
Robbie Bell Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $338,614 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,124,954 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,463,568 |
| Total Program Service Revenue | $4,221,947 |
| Investment income | $26,476 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$217,015 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,716,572 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $672,022 |
| Pension plan accruals and contributions | $9,489 |
| Other employee benefits | $104,173 |
| Payroll taxes | $132,546 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,801 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,103 |
| Advertising and promotion | $23,653 |
| Office expenses | $12,428 |
| Information technology | $164,597 |
| 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 | $896,761 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $405,685 |
| Insurance | $44,041 |
| All other expenses | $86,961 |
| Total functional expenses | $4,759,287 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,489,058 |
| Savings and temporary cash investments | $857,596 |
| 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 | $14,400,030 |
| Investments—publicly traded securities | $327,540 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,530,301 |
| Total assets | $23,604,525 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $6,000,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,750,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,888,716 |
| Total liabilities | $17,638,716 |
| Net assets without donor restrictions | $5,965,809 |
| 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 | $23,604,525 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Triangle Aquatic Center has recieved totaling $1,014,972.
| Awarding Organization | Amount |
|---|---|
Michael G Curran Family Foundation Cary, NC PURPOSE: GENERAL OPERATIONS | $979,541 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $30,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: VIBRANT ECONOMIES | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $431 |
Endowment Analysis
| Beg. Balance | $290,556 |
| Earnings | $27,866 |
| Net Contributions | $540,187 |
| Other Expense | $1,048 |
| Ending Balance | $857,561 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Leroy Springs & Company Inc Fort Mill, SC | $107,281,566 | $26,136,313 |
Triangle Aquatic Center Cary, NC | $23,604,525 | $5,716,572 |
Greater Richmond Aquatics Partnership Richmond, VA | $12,359,934 | $3,767,047 |
Hilton Head Island Recreation Association Hilton Head Island, SC | $3,802,830 | $3,781,142 |
Family Ymca Of Emporia Greensville Emporia, VA | $970,597 | $1,833,088 |
Newtown Recreation Inc Alpharetta, GA | $134,249 | $1,016,888 |
Georgia Recreation And Park Association Inc Conyers, GA | $880,188 | $570,815 |
Zap Fitness Foundation Inc Blowing Rock, NC | $293,616 | $620,948 |
Streethopetn Powell, TN | $3,530,882 | $1,642,282 |
Rhea County Community Center Dayton, TN | $104,880 | $427,032 |
Standing Boy Inc Columbus, GA | $152,043 | $525,287 |
Claudius Crozet Park Inc Crozet, VA | $1,615,523 | $314,439 |