Mystic Valley Swim Club Inc
- Assets
- $124.9k
- Revenue
- $29.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Belmont, MA
- Founding
- 05/2014
- Data as of
- 06/2022
- EIN
- 27-3857800
Organization Overview
Mystic Valley Swim Club Inc is located in Belmont, MA. The organization was established in 2014. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mystic Valley Swim Club Inc 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, Mystic Valley Swim Club Inc generated $29.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (26.1%) each year. All expenses for the organization totaled $20.6k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (32.8%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A PROGRAM THAT DEVELOPS THE BEST TRAINING ENVIRONMENT AVAILABLE TO COMPETITIVE SWIMMERS WHILE TEACHING LIFE SKILLS THAT WILL PROVE TO BE INVALUABLE ASSETS THROUGHOUT THEIR SWIMMING CAREER AND ADULT LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL SWIM-A-THON - THE SWIM-A-THON AIMED TO RAISE FUNDS TO UPDATE EQUIPMENT LIKE COMPUTERS AND SUBMERSIBLE CAMERAS. ADDITIONALLY, FUNDS PROVIDE FUNDING FOR FACILITIES, SUPPLIES AND TRAVEL. THE EVENT WAS ATTENDED BY OVER 80 PEOPLE WITH MOST PARTICIPANTS BEING FROM CRIMSON SWIMMING FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adriana M Schack Director | OfficerTrustee | 10 | $10,000 |
Kyle A Schack Secretary | Trustee | 1 | $0 |
Maura Connolley Treasurer | Trustee | 1 | $0 |
David T Woodely Director | Trustee | 1 | $0 |
Melissa Reilly Director | Trustee | 1 | $0 |
Diana B Knightly Director | Trustee | 1 | $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 | $2,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,500 |
| Total Program Service Revenue | $26,852 |
| 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 | $29,352 |
| 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. | $10,000 |
| Compensation of current officers, directors, key employees. | $10,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $917 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,795 |
| 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 | $1,697 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $4,938 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $20,608 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,768 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $181 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $72,113 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $6,790 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $124,852 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $14,240 |
| 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 | $13,172 |
| Total liabilities | $27,412 |
| Net assets without donor restrictions | $97,440 |
| 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 | $124,852 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Mystic Valley Swim Club Inc has recieved totaling $12,000.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $6,000 |
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New York State Public High School Athletic Association Inc Farmingville, NY | $1,517,240 | $5,856,622 |
Bike New York Inc New York, NY | $4,166,926 | $2,379,962 |
Project Adventure Inc Beverly, MA | $1,895,624 | $4,703,745 |
Innercity Weightlifting Inc Boston, MA | $3,964,091 | $4,030,474 |
Baker Hill Golf Club Newbury, NH | $15,770,767 | $2,524,195 |
Doc Wayne Youth Services Inc Boston, MA | $1,355,215 | $2,243,484 |
Park Housing Development Fund Company Inc Flushing, NY | $4,600,496 | $988,773 |
Underground Bowling Association Inc Freeport, NY | $128,797 | $1,189,863 |
Larchmont Manor Park Society Larchmont, NY | $1,812,856 | $1,373,581 |
Atlantic Hockey Association Inc Winthrop, MA | $457,452 | $1,032,133 |
Vermont Atv Sportsmans Association Inc Barre, VT | $867,519 | $1,211,642 |
Niagara Frontier Junior Hockey Club Inc Grand Island, NY | $406,318 | $910,051 |