Civic Intelligence

Aqualympics Inc.

990 • Fiscal year 2017 • EIN 46-2218011

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 14, 2019

Organization ProfileN/A
36-26 201st StreetBayside, NY 11361

(646) 321-2114

Siviq Scores

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

Liabilities / Assets

96th percentile

0.93x

Higher debt load relative to assets than 96% of similar nonprofits.

2017 filings • NTEE N • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

83rd percentile

0.35x

Higher debt load relative to revenue than 83% of similar nonprofits.

2017 filings • NTEE N • $500k-$1M nonprofits • Source year 2017

Net Margin

37th percentile

1.5%

Higher net margin than 37% of similar nonprofits.

2017 filings • NTEE N • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

86th percentile

$60,000

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 11.9% of source-year revenue.

2017 filings • NTEE N • $500k-$1M nonprofits • Source year 2017

Asset Growth

98th percentile

826%

Faster asset growth than 98% of similar nonprofits.

2017 filings • NTEE N • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

68th percentile

14%

Faster revenue growth than 68% of similar nonprofits.

2017 filings • NTEE N • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$189,989

Up $169,467 (+826%) from 2016

Net Assets

Up

$13,481

Up $7,583 (+129%) from 2016

Liabilities

Up

$176,508

Up $161,884 (+1107%) from 2016

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin37th percentile

Revenue

Up

$503,168

Up $61,231 (+14%) from 2016

Expenses

Up

$495,585

Up $52,284 (+12%) from 2016

Net Income

Up

$7,583

Up $8,947 (+656%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$300K$200K$100K$0-$100KAssets 2013: $1,300Liabilities 2013: $02013Assets 2014: $58,907Liabilities 2014: $57,6872014Assets 2016: $20,522Liabilities 2016: $14,624Net Assets 2016: $5,8982016Assets 2017: $189,989Liabilities 2017: $176,508Net Assets 2017: $13,4812017Assets 2018: $141,262Liabilities 2018: $120,631Net Assets 2018: $20,6312018Assets 2019: $76,140Liabilities 2019: $52,739Net Assets 2019: $23,4012019Assets 2020: $122,883Liabilities 2020: $215,952Net Assets 2020: -$93,0692020Assets 2021: $114,078Liabilities 2021: $156,992Net Assets 2021: -$42,9142021Assets 2022: $214,581Liabilities 2022: $252,100Net Assets 2022: -$37,5192022Assets 2023: $114,174Liabilities 2023: $145,778Net Assets 2023: -$31,6042023Assets 2024: $126,387Liabilities 2024: $134,690Net Assets 2024: -$8,3032024

Highlighted filing

2017

Assets$189,989
Liabilities$176,508
Net Assets$13,481
Open 2017 Filing

Operations Trend

Revenue Growth68th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2013: $4,525Expenses 2013: $3,225Net Income 2013: $1,3002013Revenue 2014: $14,400Expenses 2014: $14,480Net Income 2014: -$802014Revenue 2016: $441,937Expenses 2016: $443,301Net Income 2016: -$1,3642016Revenue 2017: $503,168Expenses 2017: $495,585Net Income 2017: $7,5832017Revenue 2018: $642,045Expenses 2018: $634,895Net Income 2018: $7,1502018Revenue 2019: $621,010Expenses 2019: $618,240Net Income 2019: $2,7702019Revenue 2020: $108,110Expenses 2020: $224,580Net Income 2020: -$116,4702020Revenue 2021: $185,513Expenses 2021: $135,358Net Income 2021: $50,1552021Revenue 2022: $411,234Expenses 2022: $405,839Net Income 2022: $5,3952022Revenue 2023: $494,709Expenses 2023: $488,794Net Income 2023: $5,9152023Revenue 2024: $619,801Expenses 2024: $596,500Net Income 2024: $23,3012024

Highlighted filing

2017

Revenue$503,168
Expenses$495,585
Net Income$7,583
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 14, 2019
Return Version
2017v2.2
Gross Receipts
$503,168
Mission and Program Overview

Mission

Educate youth about water safety and competitive swimming.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$19,322$172,511▲ $153,189
Prepaid Expenses and Deferred Charges-$16,277-
Rtn Earn Endowment Incm Other Fnds$5,898$13,481▲ $7,583
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$20,522$189,989▲ $169,467
Other Assets Total$1,200$1,201▲ $1
Liabilities
Deferred Revenue-$123,044-
Accounts Payable and Accrued Expenses$14,624$53,464▲ $38,840
Total Liabilities$14,624$176,508▲ $161,884
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,898$13,481▲ $7,583
Total Liabilities and Net Assets / Fund Balance$20,522$189,989▲ $169,467
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kaki HoPresidentPT$60,000$60,000

Board Members and Trustees

NameTitle
Selina TaiBoard Member
Tiffany YipBoard Member
Wing Sung ChanBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$503,168
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$7,583
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$354,844
Salaries, Compensation, and Employee Benefits$140,741
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$69,736--$69,736
Current Officers, Directors, Trustees, and Key Employees$54,000$6,000-$60,000
Occupancy$15,000--$15,000
Insurance$14,488--$14,488
Payroll Taxes$9,904$1,101-$11,005
Travel$5,376--$5,376
Other Expenses$3,208--$3,208
Fees for Services Accounting-$1,200-$1,200
All Other Expenses$128--$128
Advertising$52--$52
Total Functional Expenses$487,284$8,301$0$495,585
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
Insider Transactions and Loans

Loans and Receivables

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

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
Yes
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 11B: Form 990 Review Process

“Form 990 was provided to the board for review and approval before filing.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“Form 990 and char 500 are available and can be obtained from nys charity bureau.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Aqualympics Inc
EIN
46-2218011
Address
36-26 201ST STREET, BAYSIDE, NY 11361

Signing Officer

Name
Kaki Ho
Title
President
Signed
2019-11-14
Discuss with paid preparer
Yes

Organization Details

Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
5

Preparer

Firm
Ncheng Llp Certified Public Accountants
Address
40 WALL ST 32ND FL, NEW YORK, NY 10005
Preparer
Miaoling Lin
Phone
2127850100
Supplemental Narrative

Additional Explanations

Amended Explanation

“Amended 2017 form 990 to: 1)categorize income as program service revenue instead of contributions/ grants. 2)included prepaid expenses $16,277.30 on balance sheet.3)report total program service expenses on 990 page 2.4)char500 is eptl only.5)report number of w-2 and 1099 recipients on 990 page 3. 6)compensation to disqualified persons is reported as contract labor instead. 7)marked off line 10 instead of line 8 on schedule a. 8)reported three additional board members and reported average weekly hours. 9)on form 990 page 6 line 12a, 13 and 14, reported that the organization has a conflict of interest, whistle blower and document retention policy in place and other corrections to section b.10)corrected accounting method from cash to accrual. 11)completed schedule a part iii section a.12)properly allocated functional expenses to management and general.13)changed custodian of books from lam s mui to selina tai.14)corrected number of voting members from 4 to 3.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 WAS PROVIDED TO THE BOARD FOR REVIEW AND APPROVAL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 AND CHAR 500 ARE AVAILABLE AND CAN BE OBTAINED FROM NYS CHARITY BUREAU.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AMENDED 2017 FORM 990 TO: 1)CATEGORIZE INCOME AS PROGRAM SERVICE REVENUE INSTEAD OF CONTRIBUTIONS/ GRANTS. 2)INCLUDED PREPAID EXPENSES $16,277.30 ON BALANCE SHEET.3)REPORT TOTAL PROGRAM SERVICE EXPENSES ON 990 PAGE 2.4)CHAR500 IS EPTL ONLY.5)REPORT NUMBER OF W-2 AND 1099 RECIPIENTS ON 990 PAGE 3. 6)COMPENSATION TO DISQUALIFIED PERSONS IS REPORTED AS CONTRACT LABOR INSTEAD. 7)MARKED OFF LINE 10 INSTEAD OF LINE 8 ON SCHEDULE A. 8)REPORTED THREE ADDITIONAL BOARD MEMBERS AND REPORTED AVERAGE WEEKLY HOURS. 9)ON FORM 990 PAGE 6 LINE 12A, 13 AND 14, REPORTED THAT THE ORGANIZATION HAS A CONFLICT OF INTEREST, WHISTLE BLOWER AND DOCUMENT RETENTION POLICY IN PLACE AND OTHER CORRECTIONS TO SECTION B.10)CORRECTED ACCOUNTING METHOD FROM CASH TO ACCRUAL. 11)COMPLETED SCHEDULE A PART III SECTION A.12)PROPERLY ALLOCATED FUNCTIONAL EXPENSES TO MANAGEMENT AND GENERAL.13)CHANGED CUSTODIAN OF BOOKS FROM LAM S MUI TO SELINA TAI.14)CORRECTED NUMBER OF VOTING MEMBERS FROM 4 TO 3.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Amended Explanation
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ReturnHeader/BusinessOfficerGrp/PersonNm0KAKI HO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AQUALYMPICS INC
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0NCHENG LLP CERTIFIED PUBLIC ACCOUNTANTS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt040 WALL ST 32ND FL
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ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$189,989
Liabilities
$176,508
Net assets
$13,481
Revenue
$503,168
Expenses
$495,585
Net income
$7,583
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.26$1.35$0.08$6.20$5.97$0.23
2023Detailed filing. Detailed filing data is available for this year.$1.14$1.46$0.32$4.95$4.89$0.06
2022Detailed filing. Detailed filing data is available for this year.$2.15$2.52$0.38$4.11$4.06$0.05
2021Detailed filing. Detailed filing data is available for this year.$1.14$1.57$0.43$1.86$1.35$0.50
2020Detailed filing. Detailed filing data is available for this year.$1.23$2.16$0.93$1.08$2.25$1.16
2019Detailed filing. Detailed filing data is available for this year.$0.76$0.53$0.23$6.21$6.18$0.03
2018Detailed filing. Detailed filing data is available for this year.$1.41$1.21$0.21$6.42$6.35$0.07
2017Detailed filing. Detailed filing data is available for this year.$1.90$1.77$0.13$5.03$4.96$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.21$0.15$0.06$4.42$4.43$0.01
2014Summary only. Only limited summary data is available for this year.$0.59$0.58$0.14$0.14$0.00
2013Summary only. Only limited summary data is available for this year.$0.01$0.00$0.05$0.03$0.01