Merrimac River Rowing Assn Inc
- Assets
- $191.3k
- Revenue
- $23.4k
- Investments
- $46.4k
- Employees
- 0
- Location
- Lowell, MA
- Founding
- 07/2005
- Data as of
- 12/2021
- EIN
- 22-2547676
Organization Overview
Merrimac River Rowing Assn Inc is located in Lowell, MA. The organization was established in 2005. According to its NTEE Classification (N70) the organization is classified as: Amateur Sports Competitions, 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. Merrimac River Rowing Assn 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, Merrimac River Rowing Assn Inc generated $23.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (17.7%) each year. All expenses for the organization totaled $31.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (11.2%) per year over the past 7 years. 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 ENCOURAGE AMATEUR SPORT OF ROWING, BOTH IN ITS COMPETITIVE & RECREATIONAL FORMS THROUGH ACTIVE ROWING, TRAINING, REGATTAS, SOCIAL & ORGANIZATIONAL PARTICIPATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECREATIONAL AND COMPETITIVE TRAINING IN SCULLING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Scammell Vice President | Trustee | 2 | $0 |
Dorothy Semonian President | Trustee | 2 | $0 |
Bob Bowen Boat Captain | Trustee | 2 | $0 |
Karen Masors Secretary | Trustee | 2 | $0 |
Mark Romanowsky Director | Trustee | 2 | $0 |
J Andrew Hutchinson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,300 |
| Total Program Service Revenue | $21,970 |
| Investment income | $106 |
| 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 | $23,376 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,725 |
| 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 | $699 |
| Information technology | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,669 |
| Insurance | $5,074 |
| All other expenses | $1,436 |
| Total functional expenses | $31,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $136,587 |
| Savings and temporary cash investments | $0 |
| 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 | $8,322 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $46,393 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $191,302 |
| 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 | $191,302 |
| 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 | $191,302 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Merrimac River Rowing Assn Inc has recieved totaling $22.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $22 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
America East Boston, MA | $5,719,263 | $6,183,979 |
Laureus Sport For Good Foundation Of America New York, NY | $6,727,173 | $4,372,530 |
Open Squash Inc New York, NY | $5,357,253 | $1,806,431 |
Hayden Synchronized Skating Teams Inc Woburn, MA | $867,521 | $1,759,773 |
Connecticut State Golf Association Inc Rocky Hill, CT | $2,099,281 | $1,823,029 |
New York Yacht Club Regatta Association Inc New York, NY | $782,002 | $1,482,419 |
Aurora Ice Association Inc East Aurora, NY | $3,480,077 | $1,014,399 |
East Coast Conference West Babylon, NY | $1,556,768 | $907,692 |
Connecticut Sports Management Group Inc Middletown, CT | $277,268 | $757,611 |
New England Amateur Skating Foundation Inc Providence, RI | $687,588 | $557,183 |
The Riverside Boat Club Of Cambridge Cambridge, MA | $2,915,123 | $606,845 |
Section One Inc Harrison, NY | $1,084,952 | $642,648 |