Civic Intelligence

Race Swami

990 • Fiscal year 2021 • EIN 27-4648408

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 10, 2022

2751 S 2700 ESalt Lake City, UT 84109-2013

(801) 205-4881

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

78th percentile

0.11x

Higher debt load relative to assets than 78% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

74th percentile

0.05x

Higher debt load relative to revenue than 74% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

25th percentile

-9.7%

Higher net margin than 25% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

95th percentile

$65,000

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 31.9% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

14th percentile

-29%

Faster asset growth than 14% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

41st percentile

-5.6%

Faster revenue growth than 41% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Down

$87,503

Down $36,434 (-29%) from 2020

Net Assets

Down

$78,256

Down $24,460 (-24%) from 2020

Liabilities

Down

$9,247

Down $11,974 (-56%) from 2020

Revenue

Down

$203,698

Down $12,102 (-5.6%) from 2020

Expenses

Up

$223,467

Up $27,188 (+14%) from 2020

Net Income

Down

-$19,769

Down $39,290 (-201%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150K$100K$50K$0Assets 2014: $63,469Liabilities 2014: $3,827Net Assets 2014: $59,6422014Assets 2015: $75,367Liabilities 2015: $2,858Net Assets 2015: $72,5092015Assets 2016: $91,399Liabilities 2016: $3,783Net Assets 2016: $87,6162016Assets 2018: $97,818Liabilities 2018: $19,011Net Assets 2018: $78,8072018Assets 2019: $84,894Liabilities 2019: $1,699Net Assets 2019: $83,1952019Assets 2020: $123,937Liabilities 2020: $21,221Net Assets 2020: $102,7162020Assets 2021: $87,503Liabilities 2021: $9,247Net Assets 2021: $78,2562021Assets 2022: $49,037Liabilities 2022: $8,129Net Assets 2022: $40,9082022Assets 2024: $114,357Liabilities 2024: $4,761Net Assets 2024: $109,5962024

Highlighted filing

2021

Assets$87,503
Liabilities$9,247
Net Assets$78,256

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2014: $165,378Expenses 2014: $133,616Net Income 2014: $31,7622014Revenue 2015: $154,265Expenses 2015: $141,398Net Income 2015: $12,8672015Revenue 2016: $203,837Expenses 2016: $188,730Net Income 2016: $15,1072016Revenue 2018: $216,173Expenses 2018: $236,534Net Income 2018: -$20,3612018Revenue 2019: $249,338Expenses 2019: $244,950Net Income 2019: $4,3882019Revenue 2020: $215,800Expenses 2020: $196,279Net Income 2020: $19,5212020Revenue 2021: $203,698Expenses 2021: $223,467Net Income 2021: -$19,7692021Revenue 2022: $185,377Expenses 2022: $222,725Net Income 2022: -$37,3482022Revenue 2024: $254,466Expenses 2024: $176,578Net Income 2024: $77,8882024

Highlighted filing

2021

Revenue$203,698
Expenses$223,467
Net Income-$19,769
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 10, 2022
Return Version
2021v4.0
Gross Receipts
$203,698
Mission and Program Overview

Mission

Race swami exists to empower youth to be champions in and out of the water for a lifetime. We provide opportunities in swimming for underserved youth from the west side of salt lake city. Out goal is to develop our participants physical and mental health in a fun and unique environment, deeply rooted in seflt-discipline, teamwork, and whole-body awaremenss. At the same, we value and welcome the rich cultural knowledge and experiences of the youth and communities we serve. Race swami is a 501 (c) (3) non profit club service the rose park, glendale and neighboring communities of salt lake city's west side.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$79,266-
Cash and Non-Interest-Bearing Accounts$123,937$6,152▼ $117,785
Accounts Receivable-$2,085-
Total Assets$123,937$87,503▼ $36,434
Liabilities
Unsecured Notes Loans Payable$19,218--
Accounts Payable and Accrued Expenses$6,694$9,247▲ $2,553
Total Liabilities$25,912$9,247▼ $16,665
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$60,388$78,256▲ $17,868
Net Assets With Donor Restrictions$37,637--
Total Net Assets Fund Balance$98,025$78,256▼ $19,769
Total Liabilities and Net Assets / Fund Balance$123,937$87,503▼ $36,434

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$4,244$4,244
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Matt FinniganExecutive DiFT$65,000$65,000

Board Members and Trustees

NameTitle
Angie Harris RobertsBoard Presid
Jorge FierroDirector
Nick MechamDirector
Nona RichardsonDirector
Pam ChamberlainDirector
Sheila DixonDirector
Grady JohnsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$146,289
Program Service Revenue
$57,401
Investment Income
$8
Other Revenue
$0
All Other Contributions
$127,071
Change in Net Assets
$-19,769

Audited Revenue Reconciliation

Revenue per Audited Statements
$203,698
Total Revenue per Audited Statements
$203,698
Total Revenue per Form 990
$203,698
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$106,852
Other Expenses$95,972
Total Fundraising Expense$29,848
Grants and Similar Amounts Paid$20,643
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$42,250$6,500$16,250$65,000
Occupancy$50,467-$4,519$54,986
Other Salaries and Wages$31,508$2,688-$34,196
Grants to Domestic Individuals$20,643--$20,643
Fees for Services Accounting-$13,961-$13,961
Information Technology$5,053$705$2,389$8,147
Payroll Taxes$4,748$663$2,245$7,656
Other Expenses$2,111$461$2,317$2,111
Office Expenses$1,200$168$568$1,936
Fees for Services Other$905--$905
All Other Expenses-$687-$687
Insurance-$478-$478
Total Functional Expenses$167,308$26,311$29,848$223,467

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$223,467
Total Expenses per Audited Statements$223,467
Total Expenses per Form 990$223,467
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Matt finnegan mary chris finnigan spouses

Form 990, Page 6, Part VI, Line 11B

A draft copy of the form 990 is provided to the board for their review prior to filing. Any comments or questions are incorporate and resolved before the form 990 is filed.

Form 990, Page 6, Part VI, Line 15A

The board of directors meets to discuss the executive director's salary and uses comparable organzations when determining the salary.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available at the organization's office upon request.

Filing and Contact Details

Filer

Filer Name
Race Swami
EIN
27-4648408
Phone
8012054881
Address
2751 S 2700 E, SALT LAKE CITY, UT 84109-2013

Signing Officer

Name
Matt Finnigan
Title
Executive Director
Phone
8012054881
Signed
2022-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matt Finnigan
Formed
2011
Legal Domicile
Ut
Voting Board Members
7
Independent Board Members
7
Employees
14
Volunteers
60

Preparer

Firm
Bountiful Peak Advisors
Address
1564 SOUTH 500 WEST SUITE 201, BOUNTIFUL, UT 84010-7400
Preparer
Justin R Shaw CPA Cfe Cgma
Phone
8012943155
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Race swami exists to empower youth to be champions in and out of the water for a lifetime. We provide opportunities in swimming for underserved youth from the west side of salt lake city. Out goal is to develop our participants physical and mental health in a fun and unique environment, deeply rooted in seflt-discipline, teamwork, and whole-body awaremenss. At the same, we value and welcome the rich cultural knowledge and experiences of the youth and communities we serve. Race swami is a 501 (c) (3) non profit club service the rose park, glendale and neighboring communities of salt lake city's west side.

Form 990, Page 2, Part III, Line 4A

Race swami emerged from covid19 shutdowns by qualifying swimmers for: - utah long course state championships - beehive finale age group championships - speedo far westerns regional?championships - usa swimming's sectional series - austin,tx race swami selected as one of 12 usa swimming programs for the community impact grant. Four swamis graduated from local high schools - two student-athletes are attending university of utah; one each attending utah state and the united states naval academy race swami named a designated usa swimming diversity, equity, and inclusion program, the only such organization from the western states named to the list (20 clubs total nationally). Race swami's learn-to-swim program served 93 children, coupled with an additional 45 children in partnership with the neighborhood house, a west side-based daycare center serving similar demographics race swami hit the local media with a featured article in the salt lake tribune, as well as a social justice advocacy topic on krcl 90.9fm.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RACE SWAMI EXISTS TO EMPOWER YOUTH TO BE CHAMPIONS IN AND OUT OF THE WATER FOR A LIFETIME. WE PROVIDE OPPORTUNITIES IN SWIMMING FOR UNDERSERVED YOUTH FROM THE WEST SIDE OF SALT LAKE CITY. OUT GOAL IS TO DEVELOP OUR PARTICIPANTS PHYSICAL AND MENTAL HEALTH IN A FUN AND UNIQUE ENVIRONMENT, DEEPLY ROOTED IN SEFLT-DISCIPLINE, TEAMWORK, AND WHOLE-BODY AWAREMENSS. AT THE SAME, WE VALUE AND WELCOME THE RICH CULTURAL KNOWLEDGE AND EXPERIENCES OF THE YOUTH AND COMMUNITIES WE SERVE. RACE SWAMI IS A 501 (C) (3) NON PROFIT CLUB SERVICE THE ROSE PARK, GLENDALE AND NEIGHBORING COMMUNITIES OF SALT LAKE CITY'S WEST SIDE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1RACE SWAMI EMERGED FROM COVID19 SHUTDOWNS BY QUALIFYING SWIMMERS FOR: - UTAH LONG COURSE STATE CHAMPIONSHIPS - BEEHIVE FINALE AGE GROUP CHAMPIONSHIPS - SPEEDO FAR WESTERNS REGIONAL?CHAMPIONSHIPS - USA SWIMMING'S SECTIONAL SERIES - AUSTIN,TX RACE SWAMI SELECTED AS ONE OF 12 USA SWIMMING PROGRAMS FOR THE COMMUNITY IMPACT GRANT. FOUR SWAMIS GRADUATED FROM LOCAL HIGH SCHOOLS - TWO STUDENT-ATHLETES ARE ATTENDING UNIVERSITY OF UTAH; ONE EACH ATTENDING UTAH STATE AND THE UNITED STATES NAVAL ACADEMY RACE SWAMI NAMED A DESIGNATED USA SWIMMING DIVERSITY, EQUITY, AND INCLUSION PROGRAM, THE ONLY SUCH ORGANIZATION FROM THE WESTERN STATES NAMED TO THE LIST (20 CLUBS TOTAL NATIONALLY). RACE SWAMI'S LEARN-TO-SWIM PROGRAM SERVED 93 CHILDREN, COUPLED WITH AN ADDITIONAL 45 CHILDREN IN PARTNERSHIP WITH THE NEIGHBORHOOD HOUSE, A WEST SIDE-BASED DAYCARE CENTER SERVING SIMILAR DEMOGRAPHICS RACE SWAMI HIT THE LOCAL MEDIA WITH A FEATURED ARTICLE IN THE SALT LAKE TRIBUNE, AS WELL AS A SOCIAL JUSTICE ADVOCACY TOPIC ON KRCL 90.9FM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MATT FINNEGAN MARY CHRIS FINNIGAN SPOUSES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A DRAFT COPY OF THE FORM 990 IS PROVIDED TO THE BOARD FOR THEIR REVIEW PRIOR TO FILING. ANY COMMENTS OR QUESTIONS ARE INCORPORATE AND RESOLVED BEFORE THE FORM 990 IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS MEETS TO DISCUSS THE EXECUTIVE DIRECTOR'S SALARY AND USES COMPARABLE ORGANZATIONS WHEN DETERMINING THE SALARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE MADE AVAILABLE AT THE ORGANIZATION'S OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MATT FINNIGAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08012054881
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RACE SWAMI
ReturnHeader/Filer/BusinessNameControlTxt0RACE
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ReturnHeader/Filer/PhoneNum08012054881
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ReturnHeader/Filer/USAddress/CityNm0SALT LAKE CITY
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BOUNTIFUL PEAK ADVISORS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01564 SOUTH 500 WEST SUITE 201
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BOUNTIFUL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0UT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0840107400
ReturnHeader/PreparerPersonGrp/PhoneNum08012943155
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JUSTIN R SHAW CPA CFE CGMA
ReturnHeader/ReturnTs02022-11-15T10:08:10-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MATT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0FINNIGAN
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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