Triangle Rowing Club
- Assets
- $268.8k
- Revenue
- $448.4k
- Investments
- $0.0
- Employees
- 7
- Location
- Cary, NC
- Founding
- 12/2008
- Data as of
- 07/2023
- 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 07/2023, Triangle Rowing Club employed 7 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 07/2023, Triangle Rowing Club generated $448.4k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $414.9k during the year ending 07/2023. While expenses have increased by 8.5% per year over the past 8 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
2023
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:
Part 3 - Line 4a
OPERATING A YOUTH ROWING TRAINING AND COMPETITION PROGRAM
OPERATING A YOUTH ROWING TRAINING AND COMPETITION PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Courtney Clark President | OfficerTrustee | 20 | $0 |
Nick Demarco Vice Preside | OfficerTrustee | 4 | $0 |
Shonagh O'leary-Moore Treasurer | OfficerTrustee | 10 | $0 |
Katie Cornetto Secretary | OfficerTrustee | 2 | $0 |
Britt Schuman-Humbert Past Preside | Trustee | 1 | $0 |
Lauren Van Valkenburgh At Large - V | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $307,043 |
| Fundraising events | $60,426 |
| 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 | $367,469 |
| Total Program Service Revenue | $81,709 |
| Investment income | $13 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,670 |
| Net Income from Fundraising Events | -$6,460 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $448,401 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,691 |
| 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 | $154,281 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,243 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,813 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,429 |
| Information technology | $3,544 |
| Royalties | $0 |
| Occupancy | $21,469 |
| Travel | $2,031 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $15 |
| Payments to affiliates | $3,765 |
| Depreciation, depletion, and amortization | $52,229 |
| Insurance | $11,580 |
| All other expenses | $0 |
| Total functional expenses | $414,859 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $96 |
| Savings and temporary cash investments | $137,097 |
| 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 | $131,626 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $268,819 |
| Accounts payable and accrued expenses | $8,975 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,975 |
| 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 | $259,844 |
| Total liabilities and net assets/fund balances | $268,819 |