Swim Torrance
- Assets
- $477.6k
- Revenue
- $854.8k
- Investments
- $0.0
- Employees
- 26
- Location
- Torrance, CA
- Founding
- 01/2007
- Data as of
- 12/2022
- EIN
- 20-4486267
Organization Overview
Swim Torrance is located in Torrance, CA. The organization was established in 2007. According to its NTEE Classification (N66) the organization is classified as: Racquet Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Swim Torrance employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Swim Torrance 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 12/2022, Swim Torrance generated $854.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $792.3k during the year ending 12/2022. While expenses have increased by 15.5% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SWIM TORRANCE IS A YOUTH SWIM TEAM FOSTERING AMATEUR SWIM TRAINING AND COMPETITION
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS CHILDREN ENTER THE PROGRAM, THE CONCENTRATION IS ON TRAINING THE CHILDREN WITH THE BEST POSSIBLE TECHNIQUES. THE END GOAL FOR THE PARTICIPANTS IS FOR THE THEM TO BECOME COMPETITIVELY COMPETENT TO PARTICIPATE IN SWIM MEETS.
AS THE CHILDREN MATURE PHYSICALLY AND TECHNICALLY, THE COACHES WORK ON ADVANCED TECHNIQUES INCLUDING BREATHING, STRENGTH TRAINING, ENDURANCE AND STROKING. THE CHILDREN ATTTEND MEETS GROUPED BY AGE AND SKILL LEVELS. THIS SECOND PHASE OF THE PROGRAM IS CRUCIAL TO BEING ABLE TO COMPETE AT HIGH LEVELS TO PARTICIPATE IN HIGH SCHOOL AND COLLEGE SWIM PROGRAMS.
THE THIRD PHASE OF THE PROGRAM INCLUDES PARTICIPATION IN SWIM MEETS WITH TEAMS IN THE GREATER LOS ANGELES AND ORANGE COUNTY AREAS. IN 2022, THE TEAM PARTICIPATED IN 24 DIFFERENT MEETS. THE COACHES CONTINUE TO HELP THE TEAM MEMBERS TO INCREASE THEIR SKILL LEVELS SO THAT THEY COULD ADVANCE TO HIGH SCHOOL AND COLLEGE SWIM TEAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Oscar Gonzalez Chairperson | Officer | 20 | $0 |
Elizabeth Chobdee Treasurer | Officer | 20 | $0 |
Judith Maylone Vp/secretary | Officer | 2 | $0 |
Gloria Mikelson Member At Large | Officer | 2 | $0 |
Diana Trosman Member At Large | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $714,048 |
| Fundraising events | $67,354 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $73,251 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $854,653 |
| Total Program Service Revenue | $0 |
| Investment income | $118 |
| 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 | $854,771 |
| 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 | $278,856 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,650 |
| Payroll taxes | $22,857 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,218 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $199 |
| Office expenses | $3,266 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,457 |
| Travel | $34,336 |
| 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 | $7,494 |
| All other expenses | $179,005 |
| Total functional expenses | $792,330 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $138,782 |
| Savings and temporary cash investments | $305,221 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,550 |
| 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 | $477,553 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| 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 | $477,553 |
| Total liabilities and net assets/fund balances | $477,553 |