Sharks Swim Club
- Assets
- $364.6k
- Revenue
- $755.8k
- Investments
- $0.0
- Employees
- 21
- Location
- Friendswood, TX
- Founding
- 05/2018
- Data as of
- 07/2021
- 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 07/2021, Sharks Swim Club employed 21 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 07/2021, Sharks Swim Club generated $755.8k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $622.2k during the year ending 07/2021. While expenses have increased by 8.7% 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
2021
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
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 |
|---|---|---|---|
Timothy Hill Director/hea | Trustee | 65 | $75,900 |
Laura D Shipman Treasurer | Officer | 15 | $6,600 |
Ann Esbeck Secretary | Officer | 2 | $0 |
James Mcmichael President | Officer | 5 | $0 |
Edward Jonas Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $45,134 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,064 |
| All other contributions, gifts, grants, and similar amounts not included above | $40,867 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $94,065 |
| Total Program Service Revenue | $612,069 |
| Investment income | $172 |
| 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 | $755,806 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $350 |
| 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 | $289,920 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $23,422 |
| Fees for services: Management | $4,089 |
| 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 | $198,289 |
| Advertising and promotion | $0 |
| Office expenses | $757 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $81,757 |
| Travel | $19,072 |
| 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 | $1,902 |
| Insurance | $2,656 |
| All other expenses | $0 |
| Total functional expenses | $622,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $227,255 |
| Savings and temporary cash investments | $125,917 |
| 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 | $11,414 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $364,586 |
| 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 | $58,764 |
| Total liabilities | $58,764 |
| Net assets without donor restrictions | $305,822 |
| 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 | $364,586 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Sharks Swim Club has recieved totaling $810.
| Awarding Organization | Amount |
|---|---|
Albemarle Foundation Charlotte, NC PURPOSE: PROGRAM ASSISTANCE | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $310 |
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 |