Karakung Swim Club
- Assets
- $1.6m
- Revenue
- $450.8k
- Investments
- $0.0
- Employees
- 58
- Location
- Havertown, PA
- Founding
- 01/1972
- Data as of
- 09/2023
- EIN
- 23-1653999
Organization Overview
Karakung Swim Club is located in Havertown, PA. The organization was established in 1972. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 09/2023, Karakung Swim Club employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Karakung Swim Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 09/2023, Karakung Swim Club generated $450.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $344.8k during the year ending 09/2023. While expenses have increased by 1.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
KARAKUNG SWIM CLUB IS ORGANIZED AND OPERATED AS A MEMBERSHIP COMMUNITY ORGANIZATION TO PROVIDE RECREATIONAL, ATHLETIC, AND SOCIAL BENEFITS TO RESIDENTS OF HAVERFORD TOWNSHIP, PENNSYLVANIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MEMBERS A COMMUNITY SWIM CLUB WITH RECREATIONAL, ATHLETIC, AND SOCIAL ACTIVITIES WITHOUT DISCRIMINATION OF ANY KIND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Bobbitt President | OfficerTrustee | 4 | $0 |
Jonathan Fingerut Director | Trustee | 2 | $0 |
Jamie Hawthorne Secretary | OfficerTrustee | 4 | $0 |
Bruce Heins Director | Trustee | 2 | $0 |
Stuart Krissinger Director | Trustee | 2 | $0 |
Jennie Malick Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $444,819 |
| Investment income | $5,943 |
| 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 | $450,762 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $110,500 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,997 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,496 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $452 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,952 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,243 |
| Interest | $21,302 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50,059 |
| Insurance | $31,065 |
| All other expenses | $21,480 |
| Total functional expenses | $344,821 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $154,781 |
| Savings and temporary cash investments | $455,942 |
| 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 | $11,500 |
| Net Land, buildings, and equipment | $934,112 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $400 |
| Total assets | $1,556,735 |
| 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 | $506,004 |
| Total liabilities | $506,004 |
| Net assets without donor restrictions | $1,050,731 |
| 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 | $1,556,735 |