Miami Beach Watersports Center Inc
- Assets
- $935.2k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 18
- Location
- Miami Beach, FL
- Founding
- 03/1996
- Data as of
- 06/2023
- EIN
- 65-0592531
Organization Overview
Miami Beach Watersports Center Inc, operating under the name Miami Beach Rowing Club, is located in Miami Beach, FL. The organization was established in 1996. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 06/2023, Miami Beach Rowing Club employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Miami Beach Rowing Club 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 06/2023, Miami Beach Rowing Club generated $1.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $977.8k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 8 years. 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 AND DEVELOP AMATEUR WATERSPORTS COMPETITION FOR ADULTS, YOUTH, STUDENTS, AND UNDERPRIVILEGED INDIVIDUALS IN SOUTH FLORIDA. WE ALSO PROMOTE HEALTH AND ENVIRONMENTAL AWARENESS. WE PROVIDE EXERCISE AND NUTRITIONAL EDUCATION WHICH CONTRIBUTE TO A HEALTHY LIFESTYLE - CRITICAL IN TODAY'S BATTLE WITH OBESITY. ROWERS ALSO LEARN ABOUT THE IMPORTANCE OF CLEAN WATERWAYS, WITH DOLPHINS AND MANATEES AS OUR COMPANIONS. WE ARE REMINDED DAILY OF OUR COMMUNITY'S IMPACT ON MARINE LIFE. OUR TEAM PERFORMS COMMUNITY SERVICE YEAR ROUND BY PICKING UP TRASH FROM THE LOCAL WATERWAYS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MIAMI BEACH ROWING CLUB IS ONE OF THE TOP YOUTH PROGRAMS IN THE COUNTRY, CONSISTENTLY QUALIFYING OVER THREE HUNDRED ROWERS FOR NATIONAL AND INTERNATIONAL CHAMPIONSHIPS. TRAINING AT THE STATE OF THE ART FACILITY WITH TOP COACHES PROMOTES ROWING SKILLS, TEAM CONCEPTS, SELF-CONFIDENCE, AND TIME MANAGEMENT. OUR SUCCESSFUL PROGRAMS ALSO PROVIDE A PATHWAY TO COLLEGIATE OPPORTUNITIES. OUR ALUMNI CAN BE FOUND IN THE TOP ROWING AND ACADEMIC INSTITUTIONS ALL OVER THE COUNTRY INCLUDING HARVARD, CORNELL, PRINCETON, STANDFORD AND BOSTON UNIVERSITY. WE ARE VERY PROUD THAT ONE OF OUR FORMER ROWERS COMPETED AT THE LONDON OLYMPICS. ALL REVENUES IN EXCESS OF EXPENSES ARE RESERVED FOR ADDITIONAL PURCHASES OF EQUIPMENT THAT WILL HELP IN CONTINUING THE PROMOTION OF THESE ROWING SKILLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elaine Roden President/ch | OfficerTrustee | 40 | $80,443 |
Balwant Cheema Treasurer | OfficerTrustee | 3 | $0 |
Susan Shane Director | Trustee | 3 | $0 |
Ronald W Shane Chairman Eme | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $511,037 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,473 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $562,510 |
| Total Program Service Revenue | $452,302 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,700 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,029,512 |
| 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. | $80,443 |
| Compensation of current officers, directors, key employees. | $8,044 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $313,705 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,397 |
| Payroll taxes | $45,846 |
| 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 | $11,475 |
| Advertising and promotion | $3,323 |
| Office expenses | $18,474 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $50,352 |
| Travel | $146,553 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,280 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $105,200 |
| Insurance | $28,054 |
| All other expenses | $2,746 |
| Total functional expenses | $977,844 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $419,013 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $45,000 |
| Accounts receivable, net | $19,957 |
| 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 | $13,503 |
| Net Land, buildings, and equipment | $431,729 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,000 |
| Total assets | $935,202 |
| Accounts payable and accrued expenses | $19,883 |
| Grants payable | $0 |
| Deferred revenue | $37,349 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $792,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,520 |
| Total liabilities | $851,752 |
| Net assets without donor restrictions | $83,450 |
| 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 | $935,202 |