New Wave Swim Team
- Assets
- $562.9k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 25
- Location
- Raleigh, NC
- Founding
- 04/1986
- Data as of
- 08/2023
- EIN
- 56-1469322
Organization Overview
New Wave Swim Team is located in Raleigh, NC. The organization was established in 1986. 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, New Wave Swim Team employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Wave Swim Team 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, New Wave Swim Team generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $1.1m during the year ending 08/2023. While expenses have increased by 14.4% per year over the past 4 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
TO PROVIDE YEAR ROUND TRAINING FOR COMPETITIVE SWIMMING WHILE PROMOTING LIFE SKILLS AND CHARACTER DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS TO PROVIDE SUPPORT TO TRAIN & DEVELOP COMPETITIVE SWIMMERS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Van Olst Board Member | Trustee | 10 | $0 |
John Roy President/ceo | Officer | 40 | $70,200 |
Jonathan Bescher Vice President | Officer | 40 | $25,200 |
Zachary Murray Treasurer | Officer | 40 | $48,000 |
Bradford Hancock Former Secretary | Officer | 40 | $28,000 |
Macon Crowder Current Secretary | Officer | 40 | $44,400 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,128,319 |
| Investment income | $5 |
| 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 | $1,238,499 |
| 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. | $215,800 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $260,069 |
| Pension plan accruals and contributions | $6,474 |
| Other employee benefits | $6,683 |
| Payroll taxes | $36,370 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $719 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,150 |
| Advertising and promotion | $0 |
| Office expenses | $3,340 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,530 |
| 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 | $7,262 |
| Insurance | $5,611 |
| All other expenses | $1,606 |
| Total functional expenses | $1,132,872 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $428,175 |
| Savings and temporary cash investments | $64,176 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,846 |
| 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 | $30,027 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,659 |
| Total assets | $562,883 |
| Accounts payable and accrued expenses | $30,253 |
| Grants payable | $0 |
| Deferred revenue | $96,583 |
| 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 | $2,767 |
| Total liabilities | $129,603 |
| Net assets without donor restrictions | $433,280 |
| 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 | $562,883 |