757swim Inc
- Assets
- $3.0m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 57
- Location
- Williamsburg, VA
- Founding
- 09/2015
- Data as of
- 12/2021
- EIN
- 47-5004484
Organization Overview
757swim Inc is located in Williamsburg, VA. The organization was established in 2015. According to its NTEE Classification (N68) the organization is classified as: Winter Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, 757swim Inc employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 757swim 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, 757swim Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 43.5% each year . All expenses for the organization totaled $972.0k during the year ending 12/2021. While expenses have increased by 50.8% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD CONFIDENCE, CHARACTER AND TEAMWORK IN YOUNG MEN AND WOMEN THROUGH COMPETITIVE SWIMMING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
APPROX. 200 YOUNG ADULTS BUILD CONFIDENCE, CHARACTER AND TEAMWORK IN COMPETATIVE SWIMMING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ian Mccormick Treasurer | Officer | 1 | $0 |
Shannon Hartig President | Officer | 5 | $0 |
Matt Williams Vice President | Officer | 1 | $0 |
Angelina Ananthraim Registrar | Officer | 1 | $0 |
Evie Burnett Secretary | Trustee | 1 | $0 |
Christina Scordo Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $441,503 |
| Fundraising events | $94,571 |
| Related organizations | $0 |
| Government grants | $89,241 |
| All other contributions, gifts, grants, and similar amounts not included above | $160,664 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $785,979 |
| Total Program Service Revenue | $358,074 |
| Investment income | $43 |
| 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 | $1,144,096 |
| 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 | $61,774 |
| 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 | $359,154 |
| Pension plan accruals and contributions | $7,596 |
| Other employee benefits | $0 |
| Payroll taxes | $26,812 |
| Fees for services: Management | $11,197 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,315 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,028 |
| Office expenses | $9,071 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $62,955 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $67,925 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $54,345 |
| Insurance | $15,713 |
| All other expenses | $32,416 |
| Total functional expenses | $971,974 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $263,634 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,447 |
| 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 | $8,578 |
| Net Land, buildings, and equipment | $2,712,761 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,007,420 |
| Accounts payable and accrued expenses | $31,733 |
| 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 | $2,625,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,656,733 |
| Net assets without donor restrictions | $350,687 |
| 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 | $3,007,420 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that 757swim Inc has recieved totaling $10,331.
| Awarding Organization | Amount |
|---|---|
Peninsula Community Foundation Of Virginia Hampton, VA PURPOSE: GENERAL SUPPORT | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $331 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Raleigh Youth Hockey Association Inc Raleigh, NC | $3,217,164 | $3,352,684 |
Montgomery County Amateur Hockey Association Inc Potomac, MD | $3,343,372 | $2,278,978 |
Nashville Elite Hockey Club Inc Franklin, TN | $329,995 | $1,865,844 |
Virginia Express Hockey Club Woodbridge, VA | $222,139 | $1,426,605 |
Dc Edge Adult Synchronized Skating Teams Gaithersburg, MD | $155,122 | $1,097,820 |
Washington Little Capitals Inc Lorton, VA | $231,536 | $900,082 |
Nelson Hockey Association Inc Crownsville Road, MD | $882,074 | $1,451,611 |
757swim Inc Williamsburg, VA | $3,007,420 | $1,144,096 |
Ashburn Travel Hockey Inc Ashburn, VA | $222,064 | $951,303 |
Pentagon Ski Club Brookeville, MD | $348,298 | $748,037 |
Nashville Youth Hockey League Inc Nashville, TN | $489,093 | $1,013,258 |
Richmond Ski Club Inc Richmond, VA | $78,320 | $586,475 |