Sarasota Sharks Incorporated
- Assets
- $1.3m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 43
- Location
- Sarasota, FL
- Founding
- 09/2018
- Data as of
- 06/2021
- 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 06/2021, 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 06/2021, Sarasota Sharks Incorporated generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (8.1%) each year. All expenses for the organization totaled $882.5k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (7.9%) per year over the past 3 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
STARTING WITH SWIMMERS AT ALL LEVELS, SARASOTA SHARKS DEVELOP CHAMPIONS IN LIFE. THROUGH SWIMMING INSTRUCTION AND COACHING, WE PROVIDE A FRAMEWORK FOR POSITIVE PHYSICAL AND CHARACTER DEVELOPMENT FOR EACH ATHLETE USING OUR CORE VALUES OF INTEGRITY, RESILIENCY, TEAMWORK, RESPECT, AND SELF-DISCIPLINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SARASOTA SHARKS ARE A TOP NOTCH SWIM PROGRAM THAT SUPPORT COMPETITIVE SWIMMING AS WELL AS OTHER AQUATIC ACTIVITIES FOR MEMBERS OF ALL AGES. WE TEACH SWIM LESSONS AT ALL LEVELS, AND HAVE COMPETITIVE TEAMS AT ALL AGES INCLUDING A MASTERS PROGRAM THAT HAS MEMBERS RANGING INTO THEIR 90S. WE PROVIDE COMMUNITY OPEN SWIM AND POOL RENTAL TIME/SPACE, AS WELL AS RUN A WATER PARK WHERE THE SARASOTA SUMMER CAMP COMMUNITY RECREATIONAL SERVICE BRING THEIR CHILDREN ALL SUMMER FOR SAFE AQUATIC ENTERTAINMENT. WE HAVE A SYNCHRONIZED SWIM TEAM, WHICH ALSO PRACTICES AND COMPETES IN OUR FACILITY. THE SARASOTA SHARKS HOST NUMEROUS IMPORTANT SWIM COMPETITIONS ACROSS ALL AGE GROUPS, AND ARE THE TOP AGE GROUP SWIM PROGRAM IN THE COUNTY AND THE SECOND TOP PROGRAM IN THE STATE. WE HAVE US NATIONAL TEAM SWIMMERS, JUNIOR NATIONAL TEAM SWIMMERS, AND MANY FLORIDA STATE QUALIFYING SWIMMERS. THE SHARKS HAVE WON MANY YMCA NATIONAL CHAMPIONSHIPS AS WELL AS YMCA MASTERS CHAMPIONSHIPS. 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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Arckey CEO | OfficerTrustee | 70 | $90,000 |
Ryan Walker Chairman | Trustee | 10 | $0 |
Carl Weinrich Director | Trustee | 5 | $0 |
Jay Clark Treas.incoming | Trustee | 5 | $0 |
Missy Cleary Secretary | Trustee | 5 | $0 |
Dr Karen Hamad Director | 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 | $62,909 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $152,805 |
| Total Program Service Revenue | $1,013,537 |
| Investment income | $209 |
| 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 | $21,354 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,187,905 |
| 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. | $90,000 |
| Compensation of current officers, directors, key employees. | $25,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $379,299 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $35,615 |
| Payroll taxes | $38,435 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $1,441 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,820 |
| Advertising and promotion | $5,130 |
| Office expenses | $8,670 |
| Information technology | $3,912 |
| Royalties | $0 |
| Occupancy | $131,682 |
| 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 | $34,496 |
| Insurance | $81,802 |
| All other expenses | -$128,369 |
| Total functional expenses | $882,532 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $381,669 |
| Savings and temporary cash investments | $236,858 |
| Pledges and grants receivable | $44,210 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $46,233 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $26,292 |
| Net Land, buildings, and equipment | $518,467 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $600 |
| Total assets | $1,254,329 |
| Accounts payable and accrued expenses | $97,331 |
| 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 | $155,338 |
| Other liabilities | $0 |
| Total liabilities | $252,669 |
| Net assets without donor restrictions | $1,001,660 |
| 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 | $1,254,329 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Sarasota Sharks Incorporated has recieved totaling $31,068.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Sarasota County Inc Sarasota, FL PURPOSE: GENERAL SUPPORT | $30,940 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $128 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Circle Square Foundation Ocala, FL | $124,141,413 | $8,724,488 |
United States Masters Swimming Inc Sarasota, FL | $7,327,632 | $3,454,621 |
Usa Water Ski & Wake Sports Inc Auburndale, FL | $1,442,821 | $1,825,367 |
Usa Swimming Inc Minneola, FL | $982,345 | $1,492,508 |
Sarasota Crew Inc Osprey, FL | $3,089,613 | $2,511,291 |
Water Sports Foundation Inc Orlando, FL | $355,212 | $1,138,831 |
Huntsville Swim Association Huntsville, AL | $601,008 | $1,169,266 |
Sarasota Sharks Incorporated Sarasota, FL | $1,254,329 | $1,187,905 |
Athens Bulldog Swim Club Inc Hull, GA | $405,540 | $725,242 |
Palm Beach Sailing Club Inc West Palm Beach, FL | $1,088,323 | $782,714 |
Coconut Grove Sailing Club Instructional Center Inc Miami, FL | $284,549 | $710,117 |
Sarasota Sailing Squadron Inc Sarasota, FL | $2,108,235 | $790,673 |