The Skating Club Of Wilmington Inc
- Assets
- $1.3m
- Revenue
- $990.6k
- Investments
- $0.0
- Employees
- 17
- Location
- Wilmington, DE
- Founding
- 01/1998
- Data as of
- 08/2023
- EIN
- 51-0101072
Organization Overview
The Skating Club Of Wilmington Inc is located in Wilmington, DE. The organization was established in 1998. According to its NTEE Classification (N40) the organization is classified as: Sports Associations & Training Facilities, under the broad grouping of Recreation & Sports and related organizations. As of 08/2023, Skating Club Of Wilmington Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Skating Club Of Wilmington 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 08/2023, Skating Club Of Wilmington Inc generated $990.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $931.6k during the year ending 08/2023. While expenses have increased by 2.9% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SKATING CLUB OF WILMINGTON (SCW) IS A NON-PROFIT, 501 (C)(3) CORPORATION WHICH OPERATES AS A MULTI-FACETED CLUB PRIMARILY FOCUSED ON ICE SKATING IN ALL ITS FORMS AND THOSE OTHER ACTIVITIES WHICH SUPPORT OR ENHANCE ICE SKATING. IT SERVES ALL AGE GROUPS AND STRIVES TO HAVE A PRACTICAL MIX OF HOCKEY, SERIOUS COMPETITORS, FIGURE SKATERS, ICE DANCERS, SYNCHRONIZED SKATING TEAMS, RECREATIONAL SKATERS, AND COMMUNITY SERVICE WHILE PREVENTING ANY ONE ACTIVITY FROM GROWING SO LARGE AS TO PREVENT THE PROPER SERVING OF ANY OTHER GROUP. IT ALSO EMPHASIZES THE HEALTH AND FITNESS BENEFITS OF ICE SKATING TO ALL.
Describe the Organization's Program Activity:
FIGURE SKATING AND INSTRUCTION - DEVELOPING AND TRAINING AMATEUR FIGURE SKATERS FOR REGIONAL COMPETITION THROUGH OLYMPIC COMPETITION
AMATEUR HOCKEY AND INSTRUCTION - PROVIDES EXTENSIVE INSTRUCTION ON PRINCIPLES INVOLVED IN AMATEUR PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melinda Weinstein Board Member | Trustee | 1 | $0 |
Donna Raziano Board Member | Trustee | 1 | $0 |
Hongxian He Board Member | Trustee | 1 | $0 |
Sophie Shen Board Member | Trustee | 1 | $0 |
Victoria Mcguinness Board Member | Trustee | 1 | $0 |
Bill Mcglinchey Co-President | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $34,742 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $30,348 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $65,090 |
| Total Program Service Revenue | $901,100 |
| Investment income | $98 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,275 |
| 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 | $17,098 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $990,555 |
| 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 | $328,888 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,698 |
| Payroll taxes | $25,607 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,310 |
| Advertising and promotion | $4,156 |
| Office expenses | $9,380 |
| Information technology | $0 |
| Royalties | $3,941 |
| Occupancy | $176,941 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,582 |
| Interest | $4,372 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,803 |
| Insurance | $34,168 |
| All other expenses | $96,279 |
| Total functional expenses | $931,569 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $524,713 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,138 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $19,208 |
| Prepaid expenses and deferred charges | $53,348 |
| Net Land, buildings, and equipment | $734,427 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,588 |
| Total assets | $1,346,422 |
| Accounts payable and accrued expenses | $39,341 |
| Grants payable | $0 |
| Deferred revenue | $211,521 |
| 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 | $68,392 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,084 |
| Total liabilities | $333,338 |
| Net assets without donor restrictions | $1,013,084 |
| 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 | $1,346,422 |