Civic Intelligence

Miami Beach Watersports Center Inc.

990 • Fiscal year 2014 • EIN 65-0592531

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 14, 2015

Organization ProfileWWW.ROWMIAMIBEACH.COM
6500 Indian Creek Drive33140

(305) 861-8876

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.38x

Higher debt load relative to assets than 73% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

86th percentile

1.25x

Higher debt load relative to revenue than 86% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

60th percentile

6.4%

Higher net margin than 60% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

59th percentile

4.7%

Faster asset growth than 59% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

64th percentile

10%

Faster revenue growth than 64% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2014

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$2,497,899

Up $112,221 (+4.7%) from 2013

Net Assets

Up

$1,536,802

Up $49,137 (+3.3%) from 2013

Liabilities

Up

$961,097

Up $63,084 (+7.0%) from 2013

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin60th percentile

Revenue

$769,426

No earlier filing loaded for comparison.

Expenses

Up

$720,289

Up $51,367 (+7.7%) from 2013

Net Income

$49,137

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $2,341,422Liabilities 2010: $982,700Net Assets 2010: $1,358,7222010Assets 2011: $2,417,154Liabilities 2011: $881,810Net Assets 2011: $1,535,3442011Assets 2012: $2,415,082Liabilities 2012: $890,647Net Assets 2012: $1,524,4352012Assets 2013: $2,385,678Liabilities 2013: $898,013Net Assets 2013: $1,487,6652013Assets 2014: $2,497,899Liabilities 2014: $961,097Net Assets 2014: $1,536,8022014Assets 2015: $1,445,210Liabilities 2015: $1,062,532Net Assets 2015: $382,6782015Assets 2016: $1,253,820Liabilities 2016: $975,849Net Assets 2016: $277,9712016Assets 2017: $1,045,932Liabilities 2017: $939,863Net Assets 2017: $106,0692017Assets 2018: $976,307Liabilities 2018: $902,554Net Assets 2018: $73,7532018Assets 2019: $871,386Liabilities 2019: $860,134Net Assets 2019: $11,2522019Assets 2020: $739,867Liabilities 2020: $868,137Net Assets 2020: -$128,2702020Assets 2021: $698,866Liabilities 2021: $885,954Net Assets 2021: -$187,0882021Assets 2022: $904,875Liabilities 2022: $873,093Net Assets 2022: $31,7822022Assets 2023: $935,202Liabilities 2023: $851,752Net Assets 2023: $83,4502023Assets 2024: $1,009,003Liabilities 2024: $66,450Net Assets 2024: $942,5532024

Highlighted filing

2014

Assets$2,497,899
Liabilities$961,097
Net Assets$1,536,802
Open 2014 Filing

Operations Trend

Revenue Growth64th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $459,5982010Revenue 2011: $582,088Expenses 2011: $405,466Net Income 2011: $176,6222011Revenue 2012: $633,591Expenses 2012: $644,500Net Income 2012: -$10,9092012Expenses 2013: $668,9222013Revenue 2014: $769,426Expenses 2014: $720,289Net Income 2014: $49,1372014Revenue 2015: $970,517Expenses 2015: $1,093,470Net Income 2015: -$122,9532015Revenue 2016: $1,035,871Expenses 2016: $1,140,578Net Income 2016: -$104,7072016Revenue 2017: $948,909Expenses 2017: $1,120,811Net Income 2017: -$171,9022017Revenue 2018: $996,452Expenses 2018: $1,028,768Net Income 2018: -$32,3162018Revenue 2019: $1,002,776Expenses 2019: $1,065,277Net Income 2019: -$62,5012019Revenue 2020: $846,386Expenses 2020: $985,908Net Income 2020: -$139,5222020Revenue 2021: $830,972Expenses 2021: $889,790Net Income 2021: -$58,8182021Revenue 2022: $1,082,577Expenses 2022: $863,707Net Income 2022: $218,8702022Revenue 2023: $1,029,512Expenses 2023: $977,844Net Income 2023: $51,6682023Revenue 2024: $1,822,259Expenses 2024: $963,156Net Income 2024: $859,1032024

Highlighted filing

2014

Revenue$769,426
Expenses$720,289
Net Income$49,137
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 14, 2015
Return Version
2013v4.0
Gross Receipts
$769,426
Mission and Program Overview

Mission

To promote amateur rowing and competition, physical fitness and water safety to youth and adults in the community.

SEE STATEMENT ATTACHED

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,212,600$2,250,622▲ $38,022
Rtn Earn Endowment Incm Other Fnds$1,487,665$1,536,802▲ $49,137
Loans From Officers Directors$847,000$841,000▼ $6,000
Cash and Non-Interest-Bearing Accounts$163,376$214,488▲ $51,112
Accounts Receivable$9,702$32,789▲ $23,087
Total Assets$2,385,678$2,497,899▲ $112,221
Liabilities
Accounts Payable and Accrued Expenses$51,013$71,529▲ $20,516
Mortgage Notes Payable Secured by Investment Property-$48,568-
Total Liabilities$898,013$961,097▲ $63,084
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,487,665$1,536,802▲ $49,137
Total Liabilities and Net Assets / Fund Balance$2,385,678$2,497,899▲ $112,221

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$286,657$367,035-
Leasehold Improvements$1,963,965$161,203-
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Ronald W ShanePresident
Bob WrightDirector
Gregg FieldsDirector
Ira NusbaumVP/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$442,022
Program Service Revenue
$327,404
Investment Income
$0
Other Revenue
$0
All Other Contributions
$61,096
Change in Net Assets
$49,137
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$374,812
Other Expenses$341,485
Total Fundraising Expense$18,741
Grants and Similar Amounts Paid$3,992
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$265,901$31,283$15,642$312,826
Occupancy$155,624$0$0$155,624
Depreciation Depletion$116,611$0$0$116,611
Other Employee Benefits$31,523$3,708$1,854$37,085
Payroll Taxes$21,166$2,490$1,245$24,901
Office Expenses$20,188$2,243$0$22,431
Insurance$20,386$0$0$20,386
Other Expenses$9,620$0$0$9,620
Advertising$8,391$0$0$8,391
Conferences and Meetings$8,210$0$0$8,210
Grants to Domestic Individuals$3,992--$3,992
Interest$212$0$0$212
Total Functional Expenses$661,824$39,724$18,741$720,289
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
Loans from Officers, Directors, Trustees, and Key Employees$847,000$841,000▼ $6,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
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
No
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
Filing and Contact Details

Filer

EIN
65-0592531
Phone
3058618876

Signing Officer

Name
Ira Nusbaum
Title
Treasurer
Phone
3058618876
Signed
2015-02-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ira Nusbaum
Formed
1995
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
2
Employees
12
Volunteers
5

Preparer

Preparer
Balwant Cheema
Phone
3058292252
Supplemental Narrative

Additional Explanations

Pt VI, Line 2

“Ira nusbaum is ronald shane's son-in-law”

Pt VI, Line 6

“MEMBERS”

Pt VI, Line 7A

“Members may elect others to become members”

Pt VI, Line 19

“Conflict of interest policy is made available upon request”

Pt VI, Line 11B

“Form 990 is reviewed at first meeting after it's prepared”

Form 990EZ, Part I, Line 16

“INSURANCE”

Form 990EZ, Part II, Line 24

“INVESTMENTS”

Raw XML Appendix361 raw XML fields

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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IRS990/Desc0THE MIAMI BEACH ROWING CLUB IS ONE OF THE TOP YOUTH PROGRAMS IN THE COUNTRY, CONSISTENTLY QUALIFYING OVER THREE HUNDRED ROWERS FOR NATIONAL AND INTERNATIONAL CHAMPIONSHIPS. TRAINING AT THE STATE OF THE ART FACILITY WITH TOP COACHES PROMOTES ROWING SKILLS, TEAM CONCEPTS, SELF-CONFIDENCE, AND TIME MANAGEMENT. OUR SUCCESSFUL PROGRAMS ALSO PROVIDE A PATHWAY TO COLLEGIATE OPPORTUNITIES. OUR ALUMNI CAN BE FOUND IN THE TOP ROWING AND ACADEMIC INSTITUTIONS ALL OVER THE COUNTRY INCLUDING HARVARD, CORNELL, PRINCETON, STANFORD AND BOSTON UNIVERSITY. WE ARE VERY PROUD THAT ONE OF OUR FORMER ROWERS COMPETED AT THE LONDON OLYMPICS.ALL REVENUES IN EXCESS OF EXPENSES ARE RESERVED FOR ADDITIONAL PURCHASES OF EQUIPMENT THAT WILL HELP IN CONTINUING THE PROMOTION OF THESE ROWING SKILLS
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IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt02125168
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02250622
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0841000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine10SHANE FAMILY FOUNDAT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0EXPANSION
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0950000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0OWNED BY PRESIDENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt0841000
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IRA NUSBAUM IS RONALD SHANE'S SON-IN-LAW
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS MAY ELECT OTHERS TO BECOME MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST POLICY IS MADE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 990 IS REVIEWED AT FIRST MEETING AFTER IT'S PREPARED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5INSURANCE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6INVESTMENTS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990EZ, Part II, Line 24
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02385678
IRS990/TotalAssetsEOYAmt02497899
IRS990/TotalAssetsGrp/BOYAmt02385678
IRS990/TotalAssetsGrp/EOYAmt02497899
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0442022
IRS990/TotalEmployeeCnt012
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt018741
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt039724
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0661824
IRS990/TotalFunctionalExpensesGrp/TotalAmt0720289
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0898013
IRS990/TotalLiabilitiesEOYAmt0961097
IRS990/TotalLiabilitiesGrp/BOYAmt0898013
IRS990/TotalLiabilitiesGrp/EOYAmt0961097
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01487665
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01536802
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt0327404
IRS990/TotalProgramServiceExpensesAmt0661824
IRS990/TotalProgramServiceRevenueAmt0327404
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0327404
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0769426
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02385678
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02497899
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine104330 MICHIGAN AVE
IRS990/USAddress/City0MIAMI
IRS990/USAddress/State0FL
IRS990/USAddress/ZIPCode033141
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0WWW.ROWMIAMIBEACH.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0IRA NUSBAUM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03058618876
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-02-14
ReturnHeader/Filer/BusinessName/BusinessNameLine10MIAMI BEACH WATERSPORTS CENTER
ReturnHeader/Filer/BusinessNameControlTxt0MIAM
ReturnHeader/Filer/EIN0650592531
ReturnHeader/Filer/PhoneNum03058618876
ReturnHeader/Filer/USAddress/AddressLine106500 INDIAN CREEK DRIVE
ReturnHeader/Filer/USAddress/City0MIAMI BEACH
ReturnHeader/Filer/USAddress/State0FL
ReturnHeader/Filer/USAddress/ZIPCode033140
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10BALWANT CHEEMA CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine108301 NW 197TH ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0MIAMI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode033015
ReturnHeader/PreparerPersonGrp/PhoneNum03058292252
ReturnHeader/PreparerPersonGrp/PreparationDt02015-02-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BALWANT CHEEMA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02015-02-15T15:40:32-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,497,899
Liabilities
$961,097
Net assets
$1,536,802
Revenue
$769,426
Expenses
$720,289
Net income
$49,137
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.01$0.07$0.94$1.82$0.96$0.86
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.94$0.85$0.08$1.03$0.98$0.05
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.90$0.87$0.03$1.08$0.86$0.22
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.70$0.89$0.19$0.83$0.89$0.06
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.74$0.87$0.13$0.85$0.99$0.14
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.87$0.86$0.01$1.00$1.07$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.98$0.90$0.07$1.00$1.03$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.05$0.94$0.11$0.95$1.12$0.17
2016Detailed filing. Detailed filing data is available for this year.$1.25$0.98$0.28$1.04$1.14$0.10
2015Detailed filing. Detailed filing data is available for this year.$1.45$1.06$0.38$0.97$1.09$0.12
2014Detailed filing. Detailed filing data is available for this year.$2.50$0.96$1.54$0.77$0.72$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.39$0.90$1.49$0.67
2012Summary only. Only limited summary data is available for this year.$2.42$0.89$1.52$0.63$0.64$0.01
2011Summary only. Only limited summary data is available for this year.$2.42$0.88$1.54$0.58$0.41$0.18
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.34$0.98$1.36$0.46