Sherwood Swim & Racquet Club
- Assets
- $2.8m
- Revenue
- $740.2k
- Investments
- $0.0
- Employees
- 61
- Location
- Greensboro, NC
- Founding
- 11/1964
- Data as of
- 09/2021
- EIN
- 56-0773705
Organization Overview
Sherwood Swim & Racquet Club is located in Greensboro, NC. The organization was established in 1964. 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 09/2021, Sherwood Swim & Racquet Club employed 61 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sherwood Swim & Racquet Club is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 09/2021, Sherwood Swim & Racquet Club generated $740.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $635.6k during the year ending 09/2021. While expenses have increased by 0.2% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SWIM AND TENNIS CLUBTO PROVIDE MEMBERS WITH A RECREATIONAL CLUB TO ENJOY SWIM AND TENNIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TENNIS PROGRAM INCLUDES COURT FEES FOR MEMBERS AND NONMEMBERS FOR BOTH INDOOR AND OUTDOOR COURTS. TENNIS CAMPS AND CLINICS, PRIVATE LESSONS, PARTICIPATION IN TENNIS TOURNAMENTS AND TENNIS SOCIAL EVENTS AND ACTIVITIES.
POOL AND SWIM TEAM INCLUDED POOL OPERATIONS FOR MEMBERS AND GUESTS DURING SEASONAL MONTHS OF MAY TO SEPTEMBER, SWIM TEAM TRAINING AND COMPETITIONS, POOL SOCIAL EVENTS AND ACTIVITIES.
OTHER PROGRAM SERVICE REVENUE - THE CLUB RENTS OUT THE CLUBHOUSE AND THE POOL FOR DIFFERENT EVENTS THROUGH THE SEASON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sally Bowman President | OfficerTrustee | 0 | $0 |
Will Willis Vice President | OfficerTrustee | 0 | $0 |
Rhonda Barrett Director | Trustee | 0 | $0 |
Tj Driscoll Legal Counsel | Trustee | 0 | $0 |
Tony Giberti Director | Trustee | 0 | $0 |
Clifford Thompson Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $474,883 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $484,883 |
| Total Program Service Revenue | $242,294 |
| Investment income | $13,048 |
| 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 | $740,225 |
| 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 | $177,531 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $17,722 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $36,545 |
| Advertising and promotion | $2,123 |
| Office expenses | $7,143 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $88,468 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $28,473 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $821 |
| Insurance | $29,830 |
| All other expenses | $0 |
| Total functional expenses | $635,552 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,045 |
| Savings and temporary cash investments | $37,861 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $121,820 |
| 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 | $2,635,016 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2 |
| Total assets | $2,834,744 |
| Accounts payable and accrued expenses | $15,225 |
| Grants payable | $0 |
| Deferred revenue | $16,200 |
| 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 | $494,726 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $210,269 |
| Total liabilities | $736,420 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $336,123 |
| Paid-in or capital surplus, or land, building, or equipment fund | $299,576 |
| Retained earnings, endowment, accumulated income, or other funds | $1,462,625 |
| Total liabilities and net assets/fund balances | $2,834,744 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Divers Alert Network Durham, NC | $37,418,607 | $12,273,989 |
Mecklenburg Aquatic Club Inc Charlotte, NC | $2,813,176 | $4,694,169 |
Nova Of Virginia Aquatics Inc Richmond, VA | $8,429,552 | $3,737,460 |
Occoquan Swimming Inc Manassas, VA | $416,953 | $2,263,892 |
Hollow Rock Racquet And Swim Club Inc Durham, NC | $3,219,714 | $2,479,240 |
Raleigh Swimming Association Raleigh, NC | $3,136,776 | $2,156,316 |
United States Power Squadrons Raleigh, NC | $2,932,406 | $2,085,267 |
American Canoe Association Fredericksburg, VA | $2,935,103 | $2,005,196 |
Excel Aquatics Brentwood, TN | $851,394 | $1,571,381 |
Old Dominion Boat Club Alexandria, VA | $11,245,214 | $1,105,837 |
Nashville Aquatic Club Nashville, TN | $573,153 | $1,290,870 |
Tide Swimming Virginia Beach, VA | $1,525,215 | $1,751,645 |