Triangle Rowing Club
- Assets
- $234.7k
- Revenue
- $343.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Cary, NC
- Founding
- 12/2008
- Data as of
- 07/2022
- EIN
- 20-2416149
Organization Overview
Triangle Rowing Club is located in Cary, NC. The organization was established in 2008. 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. As of 07/2022, Triangle Rowing Club employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Triangle Rowing Club 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 07/2022, Triangle Rowing Club generated $343.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $305.1k during the year ending 07/2022. While expenses have increased by 5.1% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO PROMOTE CHARACTER, COMMITMENT, ATHLETICISM AND TEAMWORK IN YOUTH THROUGH THE SPORT OF COMPETITIVE ROWING.
Describe the Organization's Program Activity:
OPERATING A YOUTH ROWING TRAINING AND COMPETITION PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashley Engemann Sec - Thru 1 | OfficerTrustee | 2 | $0 |
Cindy Eward Treas - Thru | OfficerTrustee | 10 | $0 |
Katie Cornetto Sec - Eff 12 | OfficerTrustee | 2 | $0 |
Shonagh O'leary-Moore Treas - Eff | OfficerTrustee | 10 | $0 |
Courtney Clark President | OfficerTrustee | 20 | $0 |
Nick Demarco Board - 12/2 | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $41,486 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $41,486 |
| Total Program Service Revenue | $312,180 |
| Investment income | $9 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$10,261 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $343,414 |
| 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 | $74,167 |
| Other salaries and wages | $37,784 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,307 |
| 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 | $1,622 |
| Office expenses | $8,057 |
| Information technology | $2,779 |
| Royalties | $0 |
| Occupancy | $17,312 |
| Travel | $1,312 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $314 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,471 |
| Insurance | $10,871 |
| All other expenses | $0 |
| Total functional expenses | $305,122 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,524 |
| Savings and temporary cash investments | $95,721 |
| 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 | $6,181 |
| Net Land, buildings, and equipment | $124,248 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $234,674 |
| 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 | $8,006 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $366 |
| Total liabilities | $8,372 |
| Net assets without donor restrictions | $0 |
| 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 | $226,302 |
| Total liabilities and net assets/fund balances | $234,674 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Triangle Rowing Club has recieved totaling $54.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $54 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Divers Alert Network Durham, NC | $37,418,607 | $12,273,989 |
Mecklenburg Aquatic Club Inc Charlotte, NC | $2,813,176 | $4,694,169 |
Nova Of Virginia Aquatics Inc Richmond, VA | $8,429,552 | $3,737,460 |
Occoquan Swimming Inc Manassas, VA | $416,953 | $2,263,892 |
Hollow Rock Racquet And Swim Club Inc Durham, NC | $3,219,714 | $2,479,240 |
Raleigh Swimming Association Raleigh, NC | $3,136,776 | $2,156,316 |
United States Power Squadrons Raleigh, NC | $2,932,406 | $2,085,267 |
American Canoe Association Fredericksburg, VA | $2,935,103 | $2,005,196 |
Excel Aquatics Brentwood, TN | $851,394 | $1,571,381 |
Old Dominion Boat Club Alexandria, VA | $11,245,214 | $1,105,837 |
Nashville Aquatic Club Nashville, TN | $573,153 | $1,290,870 |
Tide Swimming Virginia Beach, VA | $1,525,215 | $1,751,645 |