Lexington Dolphins Inc
- Assets
- $106.6k
- Revenue
- $462.3k
- Investments
- $0.0
- Employees
- 13
- Location
- Lexington, KY
- Founding
- 12/2001
- Data as of
- 08/2023
- EIN
- 61-1270618
Organization Overview
Lexington Dolphins Inc is located in Lexington, KY. The organization was established in 2001. 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 08/2023, Lexington Dolphins Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lexington Dolphins 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 08/2023, Lexington Dolphins Inc generated $462.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $442.8k during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE ORGANIZATION IS TO FOSTER AND ENCOURAGE YOUTH SWIMMING IN CENTRAL KENTUCKY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SUPPORTS THE DEVELOPMENT OF YOUTH SWIMMING, CONDUCTS SWIMMING COMPETITIONS AND PROMOTES THE SPORT IN CENTRAL KENTUCKY. THE PROGRAM CHALLENGES, ENCOURAGES AND EQUIPS TEAM MEMBERS FOR CONTINUAL IMPROVEMENT IN SKILLS, CHARACTER, AND COMPETITION. EMPHASIS IS PLACED ON TEAM BUILIDNG AMONG SWIMMERS, COACHES AND PARENTS IN A SUPPORTIVE ENTHUSIASTIC ATMOSPHERE. SWIMMERS IMPROVE THEIR SKILLS, TEAMWORK, ABILITY, SPORTSMANSHIP AND RESPECT FOR OTHERS WITHIN A COMPETITIVE ATMOSPHERE LED BY A DEDICATED, HIGHLY COMPETENT STAFF.THE TEAM HAS MADE A SIGNFICANT IMPACT AT LOCAL, STATE, REGIONAL AND NATIONAL LEVELS. THE ORGANIZATION SERVES APPROXIMATELY 250 ATHLETES ANNUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David A Doolin CEO | OfficerTrustee | 30 | $58,500 |
Shane Burden President | OfficerTrustee | 5 | $0 |
Mary Doolin Vice President | OfficerTrustee | 5 | $0 |
Kristen Hornback Secretary | OfficerTrustee | 5 | $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 | $9,473 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,473 |
| Total Program Service Revenue | $288,965 |
| Investment income | $106 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $15,256 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $462,338 |
| 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. | $58,500 |
| Compensation of current officers, directors, key employees. | $5,850 |
| Compensation to disqualified persons | $127,644 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,764 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,114 |
| 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 | $130,532 |
| Travel | $19,856 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,503 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,995 |
| Insurance | $10,199 |
| All other expenses | $2,626 |
| Total functional expenses | $442,845 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,460 |
| 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 | $84,128 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $106,588 |
| 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 | $7,323 |
| Other liabilities | $10,620 |
| Total liabilities | $17,943 |
| 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 | $88,645 |
| Total liabilities and net assets/fund balances | $106,588 |