Old Dominion Aquatic Club Incorporated
- Assets
- $324.2k
- Revenue
- $627.1k
- Investments
- $0.0
- Employees
- 15
- Location
- Virginia Beach, VA
- Founding
- 04/1983
- Data as of
- 08/2023
- EIN
- 52-1275173
Organization Overview
Old Dominion Aquatic Club Incorporated is located in Virginia Beach, VA. The organization was established in 1983. 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 08/2023, Old Dominion Aquatic Club Incorporated employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Old Dominion Aquatic Club Incorporated 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, Old Dominion Aquatic Club Incorporated generated $627.1k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $835.8k during the year ending 08/2023. 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
TO PROMOTE COMPETITIVE SWIMMING AS A USA SWIMMING TEAM FOR ATHLETES AT ALL LEVELS OF SWIMMING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB HAD AN AVERAGE OF 220 SWIMMERS ENROLLED THIS YEAR. THE TEAM IS IN GOOD STANDING WITH USA SWIMMING. WE OFFER AN OUTREACH PROGRAM FOR SWIMMERS WHO CANNOT AFFORD TO PAY MONTHLY DUES. THIS PROGRAM IS BASED ON VIRGINIA SWIMMING AND USA SWIMMING GUIDELINES. THE FAMILIES ARE RESPONSIBLE FOR PAYING $5 TOWARDS USA SWIM REGISTRATION AND $100 FOR ODAC FAMILY REGISTRATION. THERE IS 1 OUTREACH FAMILY (4 SWIMMERS) THAT WERE/ARE ON THE TEAM DURING THE TIMEFRAME OF THIS RETURN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Himel-Nelson President | Officer | 8 | $0 |
Brian Faulkner Vice President | Officer | 8 | $0 |
Brandi Hatch Treasurer | Officer | 8 | $0 |
Deborah Stewart Secretary | Officer | 8 | $0 |
Stephen J Bialorucki Head Coach | 40 | $127,229 | |
Megan Fary Officer | Officer | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $314,919 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,354 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $318,273 |
| Total Program Service Revenue | $0 |
| Investment income | $14,375 |
| 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 | $277,013 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $627,144 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $321,596 |
| Compensation of current officers, directors, key employees. | $29,928 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,047 |
| Payroll taxes | $24,746 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,400 |
| 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 | $254,928 |
| Travel | $18,115 |
| 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 | $41,608 |
| Insurance | $0 |
| All other expenses | $137,003 |
| Total functional expenses | $835,807 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99,096 |
| 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 | $93,228 |
| Investments—publicly traded securities | $131,826 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25 |
| Total assets | $324,175 |
| Accounts payable and accrued expenses | $21,836 |
| 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 | $21,836 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $235,524 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $66,815 |
| Total liabilities and net assets/fund balances | $324,175 |