Sarasota Sharks Incorporated
- Assets
- $1.6m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 43
- Location
- Sarasota, FL
- Founding
- 09/2018
- Data as of
- 06/2022
- EIN
- 82-3302879
Organization Overview
Sarasota Sharks Incorporated is located in Sarasota, FL. 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 06/2022, Sarasota Sharks Incorporated employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sarasota Sharks Incorporated 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 06/2022, Sarasota Sharks Incorporated generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $1.2m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SARASOTA SHARKS, INC.OPERATES THE SELBY AQUATIC CENTER. AS STEWARDS OF THE AQUATIC CENTER, WE RUN A SPECTRUM OF AQUATICS PROGRAMS AND MANAGE THE POOL. THESE PROGRAMS INCLUDE BUT ARE NOT LIMITED TO COMPETITIVE SWIMMING, LESSONS, MASTERS SWIMMING, OPEN SWIM, SYNCHRONIZED SWIMMING, WATER POLO, COMMUNITY PROGRAMS, TRAINING/RENTAL AND EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SARASOTA SHARKS IS A WORLD CLASS PROGRAM IN ALL ASPECTS. THE SARASOTA SHARKS HAVE PRODUCED ATHLETES AT THE STATE, REGIONAL, NATIONAL, AND INTERNATIONAL LEVELS. THIS INCLUDES RECORDS AT THE STATE, AMERICAN AND WORLD LEVEL.IN ADDITION TO HIGH LEVEL SWIMMING, WE AVERAGE MILLIONS OF DOLLARS A YEAR IN ECONOMIC IMPACT THROUGH THE OPERATIONS OF THE FACILITY. PROVIDING A VENUE AND A MECHANISM FOR SAFE AND COMPETITIVE SWIMMING IS SOMETHING THE SHARKS HAVE BEEN DOING FOR DECADES AND SOMETHING THAT WE HAVE EXCELLED AT OVER THE YEARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Arckey CEO | OfficerTrustee | 70 | $105,000 |
Ryan Walker Chairman | Trustee | 10 | $0 |
Jay Clark Treasurer | Trustee | 5 | $0 |
Carl Weinrich Director | Trustee | 5 | $0 |
Dr Karen Hamad Director | Trustee | 5 | $0 |
Missy Cleary Secretary | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $89,896 |
| All other contributions, gifts, grants, and similar amounts not included above | $237,708 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $327,604 |
| Total Program Service Revenue | $1,161,043 |
| Investment income | $114 |
| 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 | $19,185 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,507,946 |
| 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. | $105,000 |
| Compensation of current officers, directors, key employees. | $29,400 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $523,036 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,372 |
| Payroll taxes | $48,947 |
| 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 | $8,100 |
| Advertising and promotion | $714 |
| Office expenses | $4,593 |
| Information technology | $10,538 |
| Royalties | $0 |
| Occupancy | $183,336 |
| 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 | $43,005 |
| Insurance | $111,662 |
| All other expenses | -$157,264 |
| Total functional expenses | $1,153,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $110,529 |
| Savings and temporary cash investments | $716,034 |
| Pledges and grants receivable | $78,247 |
| Accounts receivable, net | $9,006 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $107,348 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $35,183 |
| Net Land, buildings, and equipment | $549,474 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $600 |
| Total assets | $1,606,421 |
| Accounts payable and accrued expenses | $230,677 |
| 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 | $16,048 |
| Other liabilities | $3,941 |
| Total liabilities | $250,666 |
| Net assets without donor restrictions | $1,355,755 |
| 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 | $1,606,421 |