Cheverly Swim & Racquet Club Inc
- Assets
- $914.9k
- Revenue
- $329.6k
- Investments
- $0.0
- Employees
- 74
- Location
- Hyattsville, MD
- Founding
- 04/1962
- Data as of
- 10/2020
- EIN
- 52-0673436
Organization Overview
Cheverly Swim & Racquet Club Inc is located in Hyattsville, MD. The organization was established in 1962. 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 10/2020, Cheverly Swim & Racquet Club Inc employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cheverly Swim & Racquet Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 10/2020, Cheverly Swim & Racquet Club Inc generated $329.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $379.9k during the year ending 10/2020. As we would expect to see with falling revenues, expenses have declined by 0.0% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE CHEVERLY SWIM & RACQUET CLUB IS A PRIVATE NON PROFIT ORGANZIATION ESTABLISHED IN 1955 TO OFFER SWIMMING, TENNIS AND OTHER RECREATIONAL ACTIVITIES TO THE RESIDENTS OF CHEVERLY AND THE SURRONDING ENVIRONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALARIES & WAGES - MANAGER & ASSISTANT, LIFE GUARDS, SNACK BAR, TENNIS INSTRUCTORS, SWIM INSTRUCTORS, GROUNDS MAINTENANCE
SUPPLIES -LIFE GUARD SWIMSUITS, OPERATIONS SUPPLIES, POOL CHEMICALS, MEMBERSHIP SUPPLIES
PROGRAM EXPENSE FOR SNACK BAR
SALARIES & WAGES - MANAGER & ASSISTANT, LIFE GUARDS, SNACK BAR, TENNIS INSTRUCTORS, SWIM INSTRUCTORS, GROUNDS MAINTENANCE
SUPPLIES -LIFE GUARD SWIMSUITS, OPERATIONS SUPPLIES, POOL CHEMICALS, MEMBERSHIP SUPPLIES
PROGRAM EXPENSE FOR SNACK BAR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathan Darling President | Officer | 12 | $0 |
Megan Daly Vice President | Officer | 12 | $0 |
John Legloahec Secretary | Officer | 12 | $0 |
Shirlanna Correia Treasureroperations | Officer | 12 | $0 |
Kendra Brown Swim Team | Trustee | 12 | $0 |
Dawn Daggett Tennis | Trustee | 12 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $305,587 |
| Investment income | $5,474 |
| 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 | $329,574 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $173,266 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,350 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,225 |
| Fees for services: Accounting | $6,270 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $97,396 |
| 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 | $34,093 |
| Insurance | $22,400 |
| All other expenses | $0 |
| Total functional expenses | $379,944 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,656 |
| Savings and temporary cash investments | $354,398 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $914,947 |
| Accounts payable and accrued expenses | $611 |
| Grants payable | $0 |
| Deferred revenue | $32,140 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $387,927 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $73,368 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $106,119 |
| 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 | $420,901 |
| Total liabilities and net assets/fund balances | $808,828 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nova Of Virginia Aquatics Inc Richmond, VA | $8,429,552 | $3,737,460 |
Occoquan Swimming Inc Manassas, VA | $416,953 | $2,263,892 |
American Canoe Association Fredericksburg, VA | $2,935,103 | $2,005,196 |
Old Dominion Boat Club Alexandria, VA | $11,245,214 | $1,105,837 |
Tide Swimming Virginia Beach, VA | $1,525,215 | $1,751,645 |
North Baltimore Aquatic Club Inc Towson, MD | $609,098 | $1,206,837 |
The Fish Swimteam Inc Fairfax, VA | $418,358 | $867,783 |
Highlands Swim And Tennis Club Inc Mclean, VA | $2,158,004 | $1,103,225 |
Usa Swimming Inc Appomattox, VA | $921,136 | $1,203,031 |
Forest Hill Swim Club Inc Ellicott City, MD | $874,185 | $822,025 |
Usa Swimming Inc Blue Bell, PA | $1,171,270 | $977,140 |
Scranton Canoe Club Lake Winola, PA | $1,120,318 | $1,020,195 |