Olympus Aquatics
- Assets
- $22.9k
- Revenue
- $731.2k
- Investments
- $0.0
- Employees
- 15
- Location
- Salt Lake City, UT
- Founding
- 04/2015
- Data as of
- 12/2021
- EIN
- 90-0968815
Organization Overview
Olympus Aquatics is located in Salt Lake City, UT. The organization was established in 2015. 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, Olympus Aquatics employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Olympus Aquatics 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, Olympus Aquatics generated $731.2k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $717.3k during the year ending 12/2021. While expenses have increased by 18.9% per year over the past 6 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
OLYMPUS AQUATICS WAS ORGANIZED TO PROMOTE AQUATIC AND FITNESS ACTIVITIES SUCH AS A COMPETITIVE YOUTH SWIMMING, MASTERS SWIMMING AND WATER POLO. WE CURRENTLY HAVE OVER 400 ATHLETES PARTICIPATING IN OUR PROGRAMS. AS WITH THE PRIOR YEARS, ATHLETES SERVED CONTINUED TO INCREASE IN 2020.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMPETITIVE SWIMMING - IN 2021, OLYMPUS AQUATICS SHOWED SOUND MANAGEMENT AS ITS PROGRAMS CONTINUED TO THRIVE AND GROW TOWARDS THE END OF THE CRITICAL PHASE OF THE PANDEMIC. ITS PROGRAMS FED SWIMMERS INTO THE OLYMPUS HIGH SCHOOL AND SKYLINE HIGH SCHOOL WHICH LARGELY LED TO THEIR 1ST AND 2ND PLACE SHOWINGS AT THE 5A STATE CHAMPIONSHIP. ITS SENIOR SWIMMERS WON THE LONG COURSE STATE CHAMPIONSHIP AND FIELDED THE LARGEST TEAM FROM UTAH AT THE 2021 JUNIOR NATIONAL CHAMPIONSHIP. THE PROGRAM PRODUCED OVER EIGHT ALL-AMERICAN QUALIFIERS WHILE INTRODUCING OVER 52 YOUNG ATHLETES TO THE SPORT OF SWIMMING. OLYMPUS QUALIFIED ONE SWIMMER TO THE US OPEN AND CURRENT HAS A PARA-SWIMMER THAT IS RANKED #5 IN THE WORLD.
WATER POLO - IN 2021 OLYMPUS AQUATICS WATER POLO CONTINUED TO THRIVE AS THEY USHERED IN THE RETURN TO IN PERSON ACTIVITIES. OLYMPUS WATER POLO HOSTED TEAMS FROM ACROSS THE UNITED STATES IN MULTIPLE TOURNAMENTS AND CONTINUED TO SET THE STANDARD FOR COVID SAFETY. OLYMPUS TOOK FIVE TEAMS TO THE NATIONAL JUNIOR OLYMPICS IN 2021, WITH THREE OF THEM PLACING IN THE TOP FIVE NATIONALLY. OLYMPUS WATER POLO ALSO PUSHED TO RECRUIT MORE YOUNG ATHLETES, HOSTING CLINICS AND INTRODUCING OVER 100 NEW ATHLETES TO WATER POLO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Thorum Head Coach - Board Member At Large | Officer | 40 | $68,625 |
Shawn Q Stringham Club President - President Of The Board | Officer | 40 | $21,325 |
Steve Johnson Board Member At Large | Officer | 10 | $0 |
Lee Chamberlain Board Member At Large | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $23,403 |
| Related organizations | $0 |
| Government grants | $28,200 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $63,103 |
| Total Program Service Revenue | $661,628 |
| 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 | $731,235 |
| 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. | $89,950 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $66,441 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,217 |
| 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 | $0 |
| Advertising and promotion | $720 |
| Office expenses | $1,956 |
| Information technology | $13,870 |
| Royalties | $0 |
| Occupancy | $145,348 |
| Travel | $35,115 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,468 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,077 |
| All other expenses | $49,671 |
| Total functional expenses | $717,306 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,936 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,936 |
| 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 | $28,032 |
| Other liabilities | $0 |
| Total liabilities | $28,032 |
| Net assets without donor restrictions | $0 |
| 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 | -$5,096 |
| Total liabilities and net assets/fund balances | $22,936 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Olympus Aquatics has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Memton Fund Inc Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Usa Swimming Inc Colorado Springs, CO | $60,604,222 | $36,995,614 |
Pool & Hot Tub Foundation Colorado Springs, CO | $11,049,001 | $5,466,362 |
United States Team Penning Assn Inc Cheyenne, WY | $443,559 | $2,777,918 |
United States Synchronized Swimming Inc Colorado Springs, CO | $767,815 | $1,651,151 |
Steamboat Training Adaptive Recreational Sports Steamboat Springs, CO | $6,587,580 | $1,502,232 |
Scottsdale Aquatics Club Boosters Inc Scottsdale, AZ | $384,387 | $1,422,740 |
Highlands Ranch Aquatics Club Inc Highlands Ranch, CO | $351,068 | $874,760 |
Grand Canyon Youth Flagstaff, AZ | $1,989,034 | $1,269,297 |
Loveland Swim Club Inc Loveland, CO | $76,767 | $796,023 |
Fort Collins Area Swim Team Fort Collins, CO | $370,611 | $817,877 |
Olympus Aquatics Salt Lake City, UT | $22,936 | $731,235 |
Casper Boat Club Casper, WY | $389,864 | $670,282 |