Cheverly Swim & Racquet Club Inc
- Assets
- $946.1k
- Revenue
- $660.4k
- Investments
- $0.0
- Employees
- 75
- Location
- Landover, MD
- Founding
- 04/1962
- Data as of
- 10/2023
- EIN
- 52-0673436
Organization Overview
Cheverly Swim & Racquet Club Inc is located in Landover, MD. The organization was established in 1962. 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 10/2023, Cheverly Swim & Racquet Club Inc employed 75 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cheverly Swim & Racquet 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 10/2023, Cheverly Swim & Racquet Club Inc generated $660.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $682.8k during the year ending 10/2023. While expenses have increased by 8.7% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CHEVERLY SWIM & RACQUET CLUB IS A PRIVATE NON PROFIT ORGANZIATION ESTABLISHED IN 1955 TO OFFER SWIMMING, TENNIS AND OTHER RECREATIONAL ACTIVITIES TO THE RESIDENTS OF CHEVERLY AND THE SURRONDING ENVIRONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALARIES & WAGES - MANAGER & ASSISTANT, SNACK BAR, TENNIS INSTRUCTORS, SWIM INSTRUCTORS, GROUNDS MAINTENANCE
PROGRAM EXPENSE FOR SNACK BAR
SUPPLIES -OPERATIONS SUPPLIES, POOL CHEMICALS, MEMBERSHIP SUPPLIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abel Olivo Memebr At Large | Trustee | 5 | $0 |
Deborah Moss Member At Large | Trustee | 5 | $0 |
Liz Pelcyger Member At Large | Trustee | 5 | $0 |
Marisa Bourgoin Member At Large | Trustee | 5 | $0 |
Kyo Freeman Memebr At Large | Trustee | 5 | $0 |
Maria Escher Member At Large | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $482,756 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $482,756 |
| Total Program Service Revenue | $177,522 |
| Investment income | $156 |
| 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 | $660,434 |
| 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 | $151,663 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,383 |
| Fees for services: Management | $223,578 |
| Fees for services: Legal | $7,610 |
| Fees for services: Accounting | $6,535 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $95,284 |
| 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 | $53,236 |
| Insurance | $29,567 |
| All other expenses | $0 |
| Total functional expenses | $682,793 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$1,951 |
| Savings and temporary cash investments | $205,654 |
| 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 | $5,795 |
| Net Land, buildings, and equipment | $736,633 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $946,131 |
| Accounts payable and accrued expenses | $24,557 |
| Grants payable | $0 |
| Deferred revenue | $151 |
| 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 | $393,963 |
| Other liabilities | $0 |
| Total liabilities | $418,671 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $527,460 |
| 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 | $946,131 |