Southeastern Swim Club Incorporated

“The organization has members as described in its bylaws. The organization does not have stockholders.”

“Certain members of the organization, as defined in the bylaws, have the authority to elect members of the governing body at the annual meeting. Directors are elected by a vote of the membership in accordance with the organization's governing documents.”

“Certain governance matters are reserved to the membership under the organization's bylaws, including the election of directors and approval of dissolution of the organization. All other governance decisions are vested in the governing body”

“The organization presents a physical copy of the 990 to the board for review before submission.”

“The compensation of the organization's top management official is reviewed and approved by independent members of the governing body. The review process includes consideration of comparable compensation data and is contemporaneously documented in the organization's records.”

“The organization's governing documents are made available to the public upon request. The organization's financial statements are available upon request and are reviewed with the membership at the annual meeting.”

“exceeds 10% SWIM - Bank Fees & Service Charges: $40, SWIM - Miscellaneous: ($332), SWIM - Non-Hosted Meet Entry Fees, Net: ($2,374), SWIM - Payroll Fees: $5,340, SWIM - Revenue Processing Fees: $15,784, AQUATICS - Payroll Fees: $479, LESSONS - Revenue Processing Fees: $18, MASTERS - Revenue Processing Fees: $1,107, Bank & Credit card fees (Pre Sept24): $155, Miscellaneous (Pre Sept24): $2,992, All other expenses Total: $23,209”

“Beginning in the tax year ended August 31, 2023, the organization changed its accounting method from the cash basis to a modified cash basis. Under the modified cash basis, certain revenues and expenses are recognized when incurred, and prepaid expenses are recorded where applicable. Fixed assets are expensed as incurred and are not capitalized. This change was made to improve the consistency and accuracy of the organization's financial reporting.”