Waves Of Wilmington Inc
- Assets
- $431.2k
- Revenue
- $227.3k
- Investments
- $0.0
- Employees
- 13
- Location
- Wilmington, NC
- Founding
- 01/1992
- Data as of
- 08/2023
- EIN
- 56-1324588
Organization Overview
Waves Of Wilmington Inc is located in Wilmington, NC. The organization was established in 1992. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 08/2023, Waves Of Wilmington Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waves 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, Waves Of Wilmington Inc generated $227.3k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $246.4k 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
TEACH YOUTH SWIMMING TECHNIQUES. ATTEND SWIM MEETS BOTH LOCAL AND NATIONALLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEACH COMPETITIVE SWIM TECHNIQUES TO APPROXIMATELY 200 YOUTH IN THE LOCAL COMMUNITY AGES RANGING FROM 5 TO 18. ALLOWING THEM TO WIN LEAGUE CHAMPIONSHIPS, ATTEND JUNIOR OLYMPICS, ATTEND AND COMPETE IN THE USA OLYMPIC TRIALS AND RANK NATIONALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David A Sokolofsky CEO - Head Coach | Officer | 40 | $71,134 |
Elizabeth Claus Member At Large | Trustee | 1 | $0 |
Carrie Bollenbacher Member At Large | Trustee | 2 | $0 |
Eddie Carroll Member At Large | Trustee | 1 | $0 |
Karen House Volunteer Coordinator | Trustee | 5 | $0 |
Marcus King Member At Large | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,550 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,550 |
| Total Program Service Revenue | $208,312 |
| Investment income | $1,434 |
| 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 | $227,298 |
| 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. | $71,134 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $125,336 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,982 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $41 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $500 |
| Office expenses | $12,068 |
| Information technology | $8,773 |
| Royalties | $0 |
| Occupancy | $2,063 |
| Travel | $61 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,981 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,483 |
| All other expenses | -$987 |
| Total functional expenses | $246,435 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $418,612 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,586 |
| Total assets | $431,198 |
| Accounts payable and accrued expenses | $25,706 |
| 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 | $3,083 |
| Total liabilities | $28,789 |
| Net assets without donor restrictions | $0 |
| 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 | $402,409 |
| Total liabilities and net assets/fund balances | $431,198 |