Water Sports Foundation Inc
- Assets
- $355.2k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Orlando, FL
- Founding
- 01/2005
- Data as of
- 12/2021
- EIN
- 20-1947916
Organization Overview
Water Sports Foundation Inc is located in Orlando, FL. The organization was established in 2005. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Water Sports 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 12/2021, Water Sports Foundation Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 5.0% 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 EDUCATE THE PUBLIC REGARDING RECREATIONAL BOATING SAFETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROMOTION OF RECREATIONAL BOATING SAFETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Oswell President | Officer | 1 | $0 |
James Vaught Secretary | Officer | 1 | $0 |
Cj Vlahovich Vice Preside | Officer | 1 | $0 |
Wayne Wilson Treasurer | Officer | 1 | $0 |
Troy Mann Director | Trustee | 1 | $0 |
Greg Meloon Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hispanic Communications Network Media | 12/30/20 | $201,620 |
The Internet Marketing Council Project Mgmt | 12/30/20 | $102,728 |
Bonnier Corp Media | 12/30/20 | $307,684 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,138,831 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,138,831 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,138,831 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $144,365 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $882,631 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $275 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,129,808 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $210,393 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $144,819 |
| 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 | $355,212 |
| Accounts payable and accrued expenses | $167,914 |
| Grants payable | $0 |
| Deferred revenue | $154,400 |
| 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 | $0 |
| Total liabilities | $322,314 |
| Net assets without donor restrictions | $32,898 |
| 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 | $355,212 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Circle Square Foundation Ocala, FL | $124,141,413 | $8,724,488 |
United States Masters Swimming Inc Sarasota, FL | $7,327,632 | $3,454,621 |
Usa Water Ski & Wake Sports Inc Auburndale, FL | $1,442,821 | $1,825,367 |
Usa Swimming Inc Minneola, FL | $982,345 | $1,492,508 |
Sarasota Crew Inc Osprey, FL | $3,089,613 | $2,511,291 |
Water Sports Foundation Inc Orlando, FL | $355,212 | $1,138,831 |
Huntsville Swim Association Huntsville, AL | $601,008 | $1,169,266 |
Sarasota Sharks Incorporated Sarasota, FL | $1,254,329 | $1,187,905 |
Athens Bulldog Swim Club Inc Hull, GA | $405,540 | $725,242 |
Palm Beach Sailing Club Inc West Palm Beach, FL | $1,088,323 | $782,714 |
Coconut Grove Sailing Club Instructional Center Inc Miami, FL | $284,549 | $710,117 |
Sarasota Sailing Squadron Inc Sarasota, FL | $2,108,235 | $790,673 |