Tide Swimming
- Assets
- $1.5m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 52
- Location
- Virginia Beach, VA
- Founding
- 07/1998
- Data as of
- 08/2021
- EIN
- 54-1737825
Organization Overview
Tide Swimming is located in Virginia Beach, VA. The organization was established in 1998. 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 08/2021, Tide Swimming employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tide Swimming 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 08/2021, Tide Swimming generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 25.3% each year . All expenses for the organization totaled $1.2m during the year ending 08/2021. While expenses have increased by 18.4% 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
TO CREATE A CULTURE THAT EMPOWERS EVERY ATHLETE, COACH AND PARENT TO HAVE MEANINGFUL EXPERIENCES IN LIFE AND SPORT THROUGH TEAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TIDE SWIMMING HAD AN AVERAGE OF 600 SWIMMERS ENROLLED ACROSS ALL PROGRAMS DURING THE 2020-2021 COMPETITION YEAR. THE TEAM ACHIEVED SILVER MEDAL RECOGNITION IN USA SWIMMING'S CLUB EXCELLENCE PROGRAM. THE TEAM PLACED 2ND OVERALL AT VIRGINIA SWIMMING SENIOR CHAMPIONSHIPS. 5 ATHLETES PARTICIPATED IN THE US OLYMPIC TRIALS, 4 ATHLETES PARTICIPATED IN THE US OPEN, AND 7 ATHLETES QUALIFIED FOR SUMMER JUNIORS. THE TEAM HOSTED 8 USA SWIMMING SANCTIONED MEETS DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Hunter Head Coach | Trustee | 50 | $79,813 |
Michael Salpeter Asst Head Coach | Trustee | 50 | $65,267 |
Jennie Carder Executive Dir. | Trustee | 50 | $58,000 |
Jackson Roach Dir Development | Trustee | 40 | $51,800 |
Sue Rosier Accountant | Trustee | 15 | $13,325 |
Mackenzie Codington Accountant | Trustee | 20 | $6,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $3,136 |
| Related organizations | $0 |
| Government grants | $304,735 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,019 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $325,890 |
| Total Program Service Revenue | $1,425,189 |
| Investment income | $566 |
| 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 | $1,751,645 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $21,093 |
| 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 | $847,044 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,879 |
| Payroll taxes | $63,962 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $65 |
| Advertising and promotion | $321 |
| Office expenses | $49,833 |
| Information technology | $1,401 |
| Royalties | $0 |
| Occupancy | $6,884 |
| Travel | $2,766 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,805 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,765 |
| Insurance | $8,605 |
| All other expenses | $3,746 |
| Total functional expenses | $1,214,701 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $788,382 |
| Savings and temporary cash investments | $401,236 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,277 |
| 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 | $9,096 |
| Net Land, buildings, and equipment | $310,224 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,525,215 |
| Accounts payable and accrued expenses | $126,626 |
| Grants payable | $0 |
| Deferred revenue | $67,480 |
| 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 | $8,864 |
| Total liabilities | $202,970 |
| Net assets without donor restrictions | $1,322,245 |
| 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 | $1,525,215 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tide Swimming has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Sentara Healthcare Norfolk, VA PURPOSE: PROMOTE THE CITY OF VIRGINIA BEACH IN PURSUING A "BLUE ZONES COMMUNITY" DESIGNATION | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Divers Alert Network Durham, NC | $37,418,607 | $12,273,989 |
Mecklenburg Aquatic Club Inc Charlotte, NC | $2,813,176 | $4,694,169 |
Nova Of Virginia Aquatics Inc Richmond, VA | $8,429,552 | $3,737,460 |
Occoquan Swimming Inc Manassas, VA | $416,953 | $2,263,892 |
Hollow Rock Racquet And Swim Club Inc Durham, NC | $3,219,714 | $2,479,240 |
Raleigh Swimming Association Raleigh, NC | $3,136,776 | $2,156,316 |
United States Power Squadrons Raleigh, NC | $2,932,406 | $2,085,267 |
American Canoe Association Fredericksburg, VA | $2,935,103 | $2,005,196 |
Excel Aquatics Brentwood, TN | $851,394 | $1,571,381 |
Old Dominion Boat Club Alexandria, VA | $11,245,214 | $1,105,837 |
Nashville Aquatic Club Nashville, TN | $573,153 | $1,290,870 |
Tide Swimming Virginia Beach, VA | $1,525,215 | $1,751,645 |