Civic Intelligence

Potomac Valley Swimming Inc

990 • Fiscal year 2018 • EIN 31-1012959

Sep 01, 2017 to Aug 31, 2018 • Filed on Apr 16, 2019

PO Box 3729Mclean, VA 22103-3729

(301) 606-0807

Siviq Scores

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

Liabilities / Assets

65th percentile

0.11x

Higher debt load relative to assets than 65% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

67th percentile

0.10x

Higher debt load relative to revenue than 67% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

46th percentile

1.8%

Higher net margin than 46% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

52nd percentile

$9,000

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Assets

$933,400

No earlier filing loaded for comparison.

Net Assets

$832,485

No earlier filing loaded for comparison.

Liabilities

$100,915

No earlier filing loaded for comparison.

Revenue

$988,068

No earlier filing loaded for comparison.

Expenses

$970,240

No earlier filing loaded for comparison.

Net Income

$17,828

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2018: $933,400Liabilities 2018: $100,915Net Assets 2018: $832,4852018Assets 2019: $922,100Liabilities 2019: $14,977Net Assets 2019: $907,1232019Assets 2020: $993,303Liabilities 2020: $42,786Net Assets 2020: $950,5172020Assets 2021: $962,182Liabilities 2021: $79,731Net Assets 2021: $882,4512021Assets 2022: $1,120,400Liabilities 2022: $157,781Net Assets 2022: $962,6192022Assets 2023: $1,232,803Liabilities 2023: $111,701Net Assets 2023: $1,121,1022023Assets 2024: $1,465,817Liabilities 2024: $149,427Net Assets 2024: $1,316,3902024Assets 2025: $1,448,789Liabilities 2025: $96,057Net Assets 2025: $1,352,7322025

Highlighted filing

2018

Assets$933,400
Liabilities$100,915
Net Assets$832,485

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $988,068Expenses 2018: $970,240Net Income 2018: $17,8282018Revenue 2019: $1,072,834Expenses 2019: $995,772Net Income 2019: $77,0622019Revenue 2020: $561,094Expenses 2020: $563,842Net Income 2020: -$2,7482020Revenue 2021: $380,194Expenses 2021: $505,685Net Income 2021: -$125,4912021Revenue 2022: $876,376Expenses 2022: $725,590Net Income 2022: $150,7862022Revenue 2023: $1,143,398Expenses 2023: $991,001Net Income 2023: $152,3972023Revenue 2024: $1,101,903Expenses 2024: $948,551Net Income 2024: $153,3522024Revenue 2025: $1,127,375Expenses 2025: $1,125,372Net Income 2025: $2,0032025

Highlighted filing

2018

Revenue$988,068
Expenses$970,240
Net Income$17,828
Jump To
Filing Snapshot
Filing Period
Sep 1, 2017 to Aug 31, 2018
Signed
Apr 16, 2019
Return Version
2017v2.3
Gross Receipts
$988,281
Mission and Program Overview

Mission

Promotes competitive swimming and fosters equal access to competitive opportunities for swimmers of all ages and abilities in accordance with the rules, regulations and standards of PVS, USA Swimming and World Aquatics.

Governing body for competitive swimming in the dc metro area. Conducts swim meets, trains officials, coaches & other volunteers on the rules and regulations of usa swimming.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$632,601$628,635▼ $3,966
Investments in Publicly Traded Securities$239,044$257,686▲ $18,642
Accounts Receivable$17,064$26,518▲ $9,454
Cash and Non-Interest-Bearing Accounts$11,613$8,863▼ $2,750
Land, Buildings, and Equipment, Net$11,578$8,059▼ $3,519
Prepaid Expenses and Deferred Charges$8,633$3,639▼ $4,994
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$920,533$933,400▲ $12,867
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$113,959$100,915▼ $13,044
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$113,959$100,915▼ $13,044
Net Assets / Fund Balance
Unrestricted Net Assets$806,574$832,485▲ $25,911
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$806,574$832,485▲ $25,911
Total Liabilities and Net Assets / Fund Balance$920,533$933,400▲ $12,867

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,059$96,300$104,359
Compensation and Service Providers

Employees

NameTitleBaseTotal
Tim HussonAdministrative Vice Chair$9,000$9,000
Heather PurkJunior Coaches Representative$3,000$3,000

Board Members and Trustees

NameTitle
Tom UgastBoard Chair
Rob GreenInclusion/diversity Chair
Merari CholletteSafe Sport Chair
Dave DinardoStrategic Planning Chair
Blair PiddingtonAge Group Vice Chair
Ellen ColketFinance Vice Chair
Carolyn KotarskiOperations Vice Chair
Mark FahertySenior Vice Chair
Erik CollinsAt-large Member
Andrew GemmellJunior Athletes Representative
Harrison RehrJunior Athletes Representative
Jack NeillOfficials Representative
Lauren EldridgeSenior Athletes Representative
Evan StilesSenior Coaches Representative
Revenue and Support

Revenue Composition

Contributions and Grants
$313,347
Program Service Revenue
$656,008
Investment Income
$12,755
Other Revenue
$5,958
Change in Net Assets
$17,828

Audited Revenue Reconciliation

Revenue per Audited Statements
$988,068
Revenue Not Reported on Form 990
$8,083
Total Revenue per Audited Statements
$996,151
Total Revenue per Form 990
$988,068
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$769,337
Salaries, Compensation, and Employee Benefits$129,489
Grants and Similar Amounts Paid$71,414
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$72,382$36,757-$109,139
Fees for Services Other$108,956--$108,956
Grants to Domestic Orgs$44,600--$44,600
Conferences and Meetings$32,486$6,489-$38,975
Fees for Services Accounting-$38,833-$38,833
Grants to Domestic Individuals$26,814--$26,814
All Other Expenses$22,548--$22,548
Current Officers, Directors, Trustees, and Key Employees$12,000--$12,000
Other Expenses$10,884--$10,884
Payroll Taxes$5,538$2,812-$8,350
Depreciation Depletion$6,673$70-$6,743
Office Expenses-$6,676-$6,676
Information Technology$3,457--$3,457
Fees for Service Investment Mgmnt Fees-$1,737-$1,737
Advertising-$715-$715
Total Functional Expenses$876,151$94,089$0$970,240

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$970,240
Total Expenses per Audited Statements$970,240
Total Expenses per Form 990$970,240
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
NATION'S CAPITAL SWIM CLUBBethesda, MD-Athlete Travel Grants$21,600
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Line 6

Pvs has approximately 12,400 athlete members and 1,200 non-athelte members.

Form 990, Part VI, Line 7

The house of delegates, comprised of a representative from each of pvs' member clubs, the board of directors, and pvs' individual members, elect the board of directors. Athlete members must comprise at least 20% of the vote at the house of delegates. Certain members of the board are elected by specific groups within the house of delegates. Member athletes elect athlete representatives to the board, coaches elect a coaches chair to the board, and officials elect an officials chair to the board.

Form 990, Part VI, Line 11

Form 990 is prepared by a public accounting firm and then reviewed by the finance vice chair and general chair prior to circulating the 990 to the remainder of the board and filing with the irs.

Form 990, Part VI, Line 12

All board members are required to review and sign a statement of principles on ethical behavior and conflicts of interest annually. The policy requires that any situations that could give rise to conflicts of interest be disclosed to the board of directors.

Form 990, Part VI, Line 19

The organization's governing documents, conflict of interest policy, financial statements, and form 990 are publicly available on the organization's website.

Form 990, Part VI, Line 4

During the current year, the house of delegates approved changes to the by-laws to be in compliance with usa swimming requirements for local swimming committees. The updated by-laws require increased athlete representation on the board of directors and all standing committees of pvs. In accordance with the new by-laws, athlete representation must constitute at least 20% of the voting membership of the board and any standing committees.

Form 990, Part VI, Line 15

The organization's top management official is the pvs general chair. This is an unpaid position. The personnel committee determines appropriate compensation for pvs employees and independent contractors in accordance with approved budgetary guidelines and policies. The committee is comprised of the general chair, other members of the board, and a sufficient number of athletes so as to constitute at least 20% of the voting membership.

Filing and Contact Details

Filer

Filer Name
Potomac Valley Swimming Inc
EIN
31-1012959
In Care Of
% ORGANIZATION'S BOOKKEEPER
Phone
3016060807
Address
PO BOX 3729, MCLEAN, VA 22103-3729

Signing Officer

Name
Ellen Colket
Title
Finance Vice Chair
Signed
2019-04-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ellen Colket
Formed
1983
Legal Domicile
Md
Voting Board Members
16
Independent Board Members
16
Employees
3
Volunteers
400

Preparer

Firm
Sarfino and Rhoades Llp
Address
11921 ROCKVILLE PIKE SUITE 501, NORTH BETHESDA, MD 20852-2794
Preparer
Brian W Dow CPA
Phone
3017705500
Supplemental Narrative

Additional Explanations

Schedule I, Part I, Line 1

Pvs requires officials to submit an application for travel reimbursement accompanied by receipts and proof the individual officiated the minimum number of sessions. The pvs officials chair reviews the application and approves those that have met the requirements. Travel reimbursements are capped at amounts determined by the board based on the specific event. Pvs also provides travel stipends to member clubs for athletes that travel to compete in national championship level swim meets. Athlete travel stipends are paid to the club rather than directly to the athlete in order to comply with ncaa rules. Pvs requires the clubs to provide a list of athletes and support that the listed athletes met the eligibility requirements for the stipend. All athlete travel stipends are approved by the board. Athlete travel stipends are awarded in set amounts per athlete per meet as determined by the board. All applications for travel stipends are required to be submitted within 30 days from the date of the event. Applications received after this period are required to appeal directly to the board. All applications and related support are maintained for future review.

Schedule I, Part III, Line 1, Column B

During the year, 44 different pvs officials were awarded travel grants. Pvs officials are unpaid volunteers and pvs reimburses these volunteers for travel to officiate national championship level swim meets. The grants are awarded to encourage pvs officials to improve their skills by participating in a greater number of national championship level swim meets.

Form 990 Part IX Line 11G

Description:meet management total fees:96457

Form 990 Part IX Line 11G

Description:zone team coaching total fees:7010

Form 990 Part IX Line 11G

Description:other services total fees:5489

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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1ADMINISTRATIVE VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2FINANCE VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3SENIOR VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4AGE GROUP VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5OPERATIONS VICE CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt7JUNIOR ATHLETES REPRESENTATIVE
IRS990/Form990PartVIISectionAGrp/TitleTxt8JUNIOR ATHLETES REPRESENTATIVE
IRS990/Form990PartVIISectionAGrp/TitleTxt9SENIOR COACHES REPRESENTATIVE
IRS990/Form990PartVIISectionAGrp/TitleTxt10JUNIOR COACHES REPRESENTATIVE
IRS990/Form990PartVIISectionAGrp/TitleTxt11OFFICIALS REPRESENTATIVE
IRS990/Form990PartVIISectionAGrp/TitleTxt12STRATEGIC PLANNING CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt13INCLUSION/DIVERSITY CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt14SAFE SPORT CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt15AT-LARGE MEMBER
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IRS990/OtherExpensesGrp/Desc2MEET SUPPLIES & HOSPITALITY
IRS990/OtherExpensesGrp/Desc3EQUIPMENT REPAIR & STORAGE
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IRS990/OtherRevenueMiscGrp/Desc0USA SWIMMING LEAP 3 AWARD
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IRS990/ProgramServiceRevenueGrp/Desc0SWIM MEET ENTRY & SPLASH FEES
IRS990/ProgramServiceRevenueGrp/Desc1ZONE TEAM ATHLETE FEES
IRS990/ProgramServiceRevenueGrp/Desc2SWIM MEET EQUIPMENT RENTAL
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt194439
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt27300
IRS990/ProgSrvcAccomActy2Grp/Desc0EASTERN ZONE SWIMMING - ORGANIZED A TEAM OF SWIMMERS TO REPRESENT PVS AT THE EASTERN ZONE LONG COURSE CHAMPIONSHIP MEET.
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IRS990/ProgSrvcAccomActy3Grp/Desc0EDUCATION AND ADVANCEMENT - PVS PROVIDES EDUCATION AND SUPPORT TO MEMBER CLUBS, ATHLETES, COACHES, AND OFFICIALS THROUGH CAMPS, WORKSHOPS, AND CLINICS IN ORDER TO IMPROVE ALL ASPECTS OF COMPETITIVE SWIMMING. SUBJECTS INCLUDE COMPETITIVE SWIMMING RULES AND REGULATIONS, CLUB MANAGEMENT, INCLUSION AND DIVERSITY, AND USA SWIMMING'S SAFE SPORT INITIATIVE.
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IRS990/ProgSrvcAccomActy3Grp/GrantAmt026814
IRS990/ProgSrvcAccomActyOtherGrp/Desc0ATHLETE TRAVEL ASSISTANCE
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