Fairway Farms Swim Club Inc
- Assets
- $580.1k
- Revenue
- $266.9k
- Investments
- $0.0
- Employees
- 41
- Location
- Livonia, MI
- Founding
- 03/1966
- Data as of
- 11/2022
- EIN
- 38-1843290
Organization Overview
Fairway Farms Swim Club Inc is located in Livonia, MI. The organization was established in 1966. 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 11/2022, Fairway Farms Swim Club Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fairway Farms Swim Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 11/2022, Fairway Farms Swim Club Inc generated $266.9k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $245.9k during the year ending 11/2022. While expenses have increased by 0.8% per year over the past 6 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
PROVIDE RECREATIONAL FACILITIES FOR SWIMMING AND TENNIS TO 320 MEMBER FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNCTIONAL EXPENSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Kless President | OfficerTrustee | 10 | $0 |
Eric Buchanan Vice President | OfficerTrustee | 10 | $0 |
Alan Zager Treasurer | OfficerTrustee | 10 | $0 |
Erin Obrien Secretary | OfficerTrustee | 10 | $0 |
Matt Parnell Grounds Director | Trustee | 15 | $0 |
Denise Barry Membership Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $225,418 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $32,634 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $258,052 |
| Total Program Service Revenue | $0 |
| Investment income | $174 |
| 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 | $8,679 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $266,905 |
| 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 | $109,856 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,027 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,370 |
| 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 | $20 |
| Advertising and promotion | $0 |
| Office expenses | $6,634 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,347 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,943 |
| Interest | $6,157 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,568 |
| Insurance | $14,351 |
| All other expenses | $0 |
| Total functional expenses | $245,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,868 |
| Savings and temporary cash investments | $35,250 |
| 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 | $479,990 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $580,108 |
| Accounts payable and accrued expenses | $18,856 |
| 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 | $107,522 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $215 |
| Total liabilities | $126,593 |
| Net assets without donor restrictions | $453,515 |
| 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 | $580,108 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Swiminc Inc Worthington, OH | $829,638 | $1,806,874 |
Michigan Boating Industries Assoc Commerce Township, MI | $6,848,061 | $1,258,585 |
Carmel Swim Club Carmel, IN | $1,078,759 | $1,620,809 |
Vermilion Boat Club Inc Vermilion, OH | $883,885 | $1,475,888 |
Walter Schroeder Aquatic Center Ltd Brown Deer, WI | $2,876,227 | $1,771,521 |
Swim And Racquet Club Columbus, OH | $2,677,814 | $1,163,525 |
Elba-Mar Boat Club Grosse Ile, MI | $874,771 | $981,147 |
Waukesha Express Swim Team Inc Waukesha, WI | $109,829 | $1,001,501 |
Club Wolverine Swimming Inc Ann Arbor, MI | $392,270 | $985,537 |
Usa Swimming Inc New London, WI | $201,918 | $903,511 |
Dayton Raiders Facilities Inc Beavercreek, OH | $1,039,430 | $598,004 |
Huron Valley Swim Club Ann Arbor, MI | $1,978,507 | $809,520 |