City Of Midland Aquatics Inc
- Assets
- $15.1m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 165
- Location
- Midland, TX
- Founding
- 09/1968
- Data as of
- 12/2021
- EIN
- 75-1254435
Organization Overview
City Of Midland Aquatics Inc is located in Midland, TX. The organization was established in 1968. 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 12/2021, City Of Midland Aquatics Inc employed 165 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. City Of Midland Aquatics 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 12/2021, City Of Midland Aquatics Inc generated $4.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $3.8m during the year ending 12/2021. While expenses have increased by 2.0% per year over the past 7 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
COM AQUATICS PURPOSE IS TO MAINTAIN, SUPERVISE, AND SUPPORT AQUATIC AND OTHER PROGRAMS FOR THE CHILDREN OF WEST TEXAS; PROMOTE AQUATIC COMPETITION WITH OTHER ORGANIZATIONS FOR THE BENEFIT OF THE PARTICIPANTS; DIRECT AREA ORGANIZATIONS IN DEVELOPMENT OF AQUATIC PROGRAMS; UTILIZE THE ORGANIZATIONS PROGRAMS TO COMBAT JUVENILE DELINQUENCY AND TO DEVELOP OPPORTUNITIES FOR THE PROGRAMS TO COMBAT JUVENILE HEALTH PROBLEMS. TO PROVIDE EDUCATIONAL CLASSES FOR ALL RESIDENTS REGARDING BASIC AND ADVANCED AQUATIC SKILLS AND WATER SAFETY HABITS. TO MAINTAIN, SUPERVISE, AND SUPPORT AQUATIC AND OTHER PROGRAMS FOR ADULTS AND CHILDREN FOR PURPOSES OF HEALTH, REHABILITATION AND FITNESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION COACHES APPROXIMATELY 400 SWIMMERS AND 100 DIVERS, COMPETITEVELY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Swendig President | OfficerTrustee | 40 | $160,989 |
Geoff Simmons Employee | 40 | $122,402 | |
Gwen Drennan Accountant | Officer | 40 | $51,949 |
Ray Fivecoat Chairman | OfficerTrustee | 0.69 | $0 |
Dan Westcott Treasurer | OfficerTrustee | 0.69 | $0 |
Jenna Johnson Secretary | OfficerTrustee | 0.69 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
First Service Ac Contractors Construction | 12/30/21 | $336,938 |
V & V Construction Construction | 12/30/21 | $123,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $71,468 |
| Related organizations | $0 |
| Government grants | $547,640 |
| All other contributions, gifts, grants, and similar amounts not included above | $990,188 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,609,296 |
| Total Program Service Revenue | $2,538,154 |
| Investment income | $17,858 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $230,711 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $19,326 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,415,991 |
| 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. | $225,625 |
| Compensation of current officers, directors, key employees. | $225,625 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,574,475 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $49,055 |
| Payroll taxes | $163,869 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $47,843 |
| 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 | $117,561 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $652,162 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $688 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $518,201 |
| Insurance | $164,139 |
| All other expenses | $61,681 |
| Total functional expenses | $3,842,316 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $369,757 |
| Savings and temporary cash investments | $542,066 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $161,114 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $51,927 |
| Prepaid expenses and deferred charges | $101,253 |
| Net Land, buildings, and equipment | $13,766,326 |
| Investments—publicly traded securities | $71,392 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,063,835 |
| Accounts payable and accrued expenses | $174,302 |
| Grants payable | $0 |
| Deferred revenue | $118,692 |
| 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 | $292,994 |
| Net assets without donor restrictions | $14,726,621 |
| Net assets with donor restrictions | $44,220 |
| 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 | $15,063,835 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that City Of Midland Aquatics Inc has recieved totaling $364,985.
| Awarding Organization | Amount |
|---|---|
Scharbauer Foundation Inc Midland, TX PURPOSE: PHYSICAL THERAPY CENTER HVAC REPLACEMENT & RENOVATION PROJECT | $200,000 |
Abell-Hanger Foundation Midland, TX PURPOSE: FOR THE ABELL-HANGER DIVING POOL RENOVATIONS, FACILITY UPGRADES, AND REPAIRS | $61,000 |
Helen Greathouse Charitable Trust Las Vegas, NV PURPOSE: GENERAL SUPPORT | $50,000 |
Permian Basin Area Foundation Midland, TX PURPOSE: Health Mental Health | $22,587 |
Yarborough Foundation Midland, TX PURPOSE: PROGRAM EXPENSES | $10,000 |
Paul And Katherine Morrow Family Foundation Midland, TX PURPOSE: OPERATIONS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sea Star Base Galveston Galveston, TX | $52,632,706 | $20,281,003 |
Elkins Lake Recreation Corporation Huntsville, TX | $9,584,590 | $4,419,021 |
City Of Midland Aquatics Inc Midland, TX | $15,063,835 | $4,415,991 |
Lakeside Aquatic Club Flower Mound, TX | $1,073,156 | $2,759,695 |
Dads Club Swim Team Inc Houston, TX | $8,890,317 | $2,500,934 |
First Colony Swim Team Inc Missouri City, TX | $836,343 | $2,162,266 |
Courtney S Turner Charitable Trust Boatmens First Natl Bk Of Kc Ttee Dallas, TX | $21,330,664 | $1,286,547 |
Laser Class Association Inc Austin, TX | $1,155,017 | $1,842,561 |
Katy Aquatic Team For Youth Inc Katy, TX | $1,965,760 | $1,613,790 |
Austin Rowing Club Austin, TX | $793,099 | $1,451,124 |
Metroplex Aquatics Allen, TX | $207,807 | $1,113,321 |
City Of Plano Swimmers Inc Plano, TX | $1,713,838 | $1,678,096 |