Sharks Swim Club
- Assets
- $449.4k
- Revenue
- $975.6k
- Investments
- $0.0
- Employees
- 31
- Location
- Friendswood, TX
- Founding
- 05/2018
- Data as of
- 07/2024
- EIN
- 82-1614279
Organization Overview
Sharks Swim Club is located in Friendswood, TX. The organization was established in 2018. 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 07/2024, Sharks Swim Club employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sharks Swim 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 07/2024, Sharks Swim Club generated $975.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $931.1k during the year ending 07/2024. While expenses have increased by 11.1% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE SHARKS SWIM CLUB IS DEDICATED TO PROVIDING THE ENVIRONMENT, RESOURCES AND ENCOURAGEMENT FOR ALL OF ITS SWIMMERS TO MAKE A COMMITMENT TO THE HIGHEST LEVEL OF PERSONAL POTENTIAL AND THE PURSUIT OF HUMBLE EXCELLENCE.THE SHARKS ARE COMMITTED TO PROVIDING A SAFE, HEALTHY AND POSITIVE ENVIRONMENT FOR ALL ATHLETES TO GROW IN THEIR SPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONTHLY TRAINING FEES
GRANTS
SWIM MEETS
SOCIAL EVENTS FOR FAMILIES & SWIMMERS- THESE EVENTS ARE INTENDED TO BREAK EVEN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gordon Westerberg Director/hea | Trustee | 65 | $50,294 |
Laura D Shipman Treasurer | Officer | 15 | $7,519 |
Edward Jonas Director | Trustee | 1 | $0 |
Ann Esbeck Secretary | Officer | 2 | $0 |
James Mcmichael President | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $85,376 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $91,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $176,676 |
| Total Program Service Revenue | $798,889 |
| Investment income | $0 |
| 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 | $975,565 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $950 |
| 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 | $397,015 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $34,311 |
| Fees for services: Management | $7,881 |
| 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 | $307,109 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $145,452 |
| Travel | $23,114 |
| 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 | $5,223 |
| Insurance | $10,050 |
| All other expenses | $0 |
| Total functional expenses | $931,105 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,709 |
| Savings and temporary cash investments | $366,000 |
| 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 | $15,676 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $449,385 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $449,385 |
| 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 | $449,385 |