Civic Intelligence

Gulf Swimming Inc

EIN 74-2205449 • 501(c)3 • Katy, TX

Profile

Gulf swimming (gs) provides opportunities to learn, grow, and strive for excellence, developing leaders through competitive swimming. Its motto is "competitive swimming for all".

1911 Shadow Forest DrKaty, TX 77494
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

19th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

20th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

15th percentile

-18%

Higher net margin than 15% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

65th percentile

$97,079

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 11.7% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

44th percentile

1.6%

Faster asset growth than 44% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

40th percentile

1.6%

Faster revenue growth than 40% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$2,525,686

Up $166,986 (+7.1%) from 2022

Liabilities

Up

$1,760

Up $1,760 from 2022

Net Assets

Up

$2,523,926

Up $165,226 (+7.0%) from 2022

Revenue

Up

$819,838

Up $204,272 (+33%) from 2022

Expenses

Up

$911,411

Up $15,187 (+1.7%) from 2022

Net Income

Up

-$91,573

Up $189,085 (+67%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $1,218,074Liabilities 2011: $0Net Assets 2011: $1,218,0742011Assets 2012: $1,624,521Liabilities 2012: $0Net Assets 2012: $1,624,5212012Assets 2013: $1,928,168Liabilities 2013: $0Net Assets 2013: $1,928,1682013Assets 2014: $2,269,771Liabilities 2014: $30,985Net Assets 2014: $2,238,7862014Assets 2015: $2,366,117Liabilities 2015: $4,456Net Assets 2015: $2,361,6612015Assets 2016: $2,440,332Liabilities 2016: -$6,859Net Assets 2016: $2,447,1912016Assets 2017: $2,812,710Liabilities 2017: $18,942Net Assets 2017: $2,793,7692017Assets 2018: $2,727,515Liabilities 2018: $13,769Net Assets 2018: $2,713,7462018Assets 2019: $3,056,331Liabilities 2019: $77,728Net Assets 2019: $2,978,6032019Assets 2020: $3,007,036Liabilities 2020: $65,805Net Assets 2020: $2,941,2312020Assets 2021: $3,005,250Liabilities 2021: $36,579Net Assets 2021: $2,968,6712021Assets 2022: $2,358,700Liabilities 2022: $0Net Assets 2022: $2,358,7002022Assets 2023: $2,525,686Liabilities 2023: $1,760Net Assets 2023: $2,523,9262023

Highlighted filing

2023

Assets$2,525,686
Liabilities$1,760
Net Assets$2,523,926

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KRevenue 2011: $463,268Expenses 2011: $346,531Net Income 2011: $116,7372011Revenue 2012: $571,159Expenses 2012: $264,826Net Income 2012: $306,3332012Revenue 2013: $528,565Expenses 2013: $418,050Net Income 2013: $110,5152013Revenue 2014: $674,580Expenses 2014: $427,642Net Income 2014: $246,9382014Revenue 2015: $661,500Expenses 2015: $506,044Net Income 2015: $155,4562015Revenue 2016: $782,381Expenses 2016: $820,117Net Income 2016: -$37,7362016Revenue 2017: $851,421Expenses 2017: $698,932Net Income 2017: $152,4892017Revenue 2018: $855,461Expenses 2018: $835,600Net Income 2018: $19,8612018Revenue 2019: $827,738Expenses 2019: $819,808Net Income 2019: $7,9302019Revenue 2020: $373,405Expenses 2020: $689,559Net Income 2020: -$316,1542020Revenue 2021: $467,321Expenses 2021: $708,636Net Income 2021: -$241,3152021Revenue 2022: $615,566Expenses 2022: $896,224Net Income 2022: -$280,6582022Revenue 2023: $819,838Expenses 2023: $911,411Net Income 2023: -$91,5732023

Highlighted filing

2023

Revenue$819,838
Expenses$911,411
Net Income-$91,573

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$2.53$0.00$2.52$0.82$0.91$0.09
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.36$0.00$2.36$0.62$0.90$0.28
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.01$0.04$2.97$0.47$0.71$0.24
2020Summary only. Only limited summary data is available for this year.$3.01$0.07$2.94$0.37$0.69$0.32
2019Summary only. Only limited summary data is available for this year.$3.06$0.08$2.98$0.83$0.82$0.01
2018Summary only. Only limited summary data is available for this year.$2.73$0.01$2.71$0.86$0.84$0.02
2017Summary only. Only limited summary data is available for this year.$2.81$0.02$2.79$0.85$0.70$0.15
2016Summary only. Only limited summary data is available for this year.$2.44$0.01$2.45$0.78$0.82$0.04
2015Summary only. Only limited summary data is available for this year.$2.37$0.00$2.36$0.66$0.51$0.16
2014Summary only. Only limited summary data is available for this year.$2.27$0.03$2.24$0.67$0.43$0.25
2013Summary only. Only limited summary data is available for this year.$1.93$0.00$1.93$0.53$0.42$0.11
2012Summary only. Only limited summary data is available for this year.$1.62$0.00$1.62$0.57$0.26$0.31
2011Summary only. Only limited summary data is available for this year.$1.22$0.00$1.22$0.46$0.35$0.12
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 11, 2022
Return Version
2021v4.0
Gross Receipts
$467,321
Mission and Program Overview

Mission

Gulf swimming provides opportunities to learn, grow, and strive for excellence, developing leaders through competitive swimming. Its motto is "competitive swimming for all".

Gulf swimming (gs) provides opportunities to learn, grow, and strive for excellence, developing leaders through competitive swimming. Its motto is "competitive swimming for all".

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,113,166$2,381,921▲ $268,755
Cash and Non-Interest-Bearing Accounts$190,290$319,692▲ $129,402
Savings and Temporary Cash Investments$703,580$303,637▼ $399,943
Total Assets$3,007,036$3,005,250▼ $1,786
Liabilities
Accounts Payable and Accrued Expenses$65,805$36,579▼ $29,226
Total Liabilities$65,805$36,579▼ $29,226
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,941,231$2,968,209▲ $26,978
Net Assets With Donor Restrictions-$462-
Total Net Assets Fund Balance$2,941,231$2,968,671▲ $27,440
Total Liabilities and Net Assets / Fund Balance$3,007,036$3,005,250▼ $1,786
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Julie BachmanExecutive DiFT$81,000$81,000
Tom HaszTreasurerPT$33,250$33,250

Board Members and Trustees

NameTitle
Paige SikkemaAdmin. Vice-
Dusti SeeAge Grp. Vic
Eddie AdamsAt-large Boa
John BurkeAt-large Boa
Kate ZablerAt-large Boa
Tim BauerCoach Rep 09
Louis DemetriadesCOACH REP <8
Henry ClarkFinance V-ch
Travis SandiferFinance V-ch
Charlie FryGeneral Chai
Emma BurkeJr Athlete R
Sami JohnsonJr Athlete R
Erik CozaqddSafe Sport C
Robert KizerSafe Sport C
Jennie ShamburgerSecretary
Henry ClarkSenior V-CHA
Ainsley DodsonSr Athlete R
Anna LacknerSr Athlete R
Robert KizerSr Vice Chai
Revenue and Support

Revenue Composition

Contributions and Grants
$190,210
Program Service Revenue
$277,054
Investment Income
$57
Other Revenue
$0
All Other Contributions
$5,094
Change in Net Assets
$-241,315

Audited Revenue Reconciliation

Revenue per Audited Statements
$467,321
Total Revenue per Audited Statements
$467,321
Total Revenue per Form 990
$467,321
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$535,498
Salaries, Compensation, and Employee Benefits$158,714
Grants and Similar Amounts Paid$14,424
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$97,112$17,138-$114,250
Travel$72,915--$72,915
Information Technology$31,572$5,572-$37,144
Other Salaries and Wages$27,625$4,875-$32,500
Fees for Services Accounting-$14,613-$14,613
Grants to Domestic Individuals$14,424--$14,424
Payroll Taxes$10,170$1,794-$11,964
Conferences and Meetings$11,428--$11,428
Occupancy$5,844$1,031-$6,875
Office Expenses$5,686$1,003-$6,689
Fees for Services Legal$4,273$754-$5,027
Other Expenses$3,637$1,193-$3,637
Total Functional Expenses$660,663$47,973$0$708,636

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$708,636
Total Expenses per Audited Statements$708,636
Total Expenses per Form 990$708,636
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
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
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

John burke emma burke board member jr. Athl rep family relationship

Form 990, Page 6, Part VI, Line 6

There were 50 independent swim clubs that were members of gulf swimming in 2020.

Form 990, Page 6, Part VI, Line 7A

Member clubs elect the officers of gulf swimming

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

The organization's 990 is prepared by a cpa experienced in preparing not- for-profit returns and a draft is reviewed by the board at their meeting. Once all questions have been resolved, the 990 is efiled and a final copy is sent to the board.

Form 990, Page 6, Part VI, Line 12C

All directors and officers of gulf swimming must agree to and sign an acknowledgement of receipt and understanding of gulf swimming's "statement of principles on ethical behavior and conflict of interests policy". The organization's conflict of interest policy requires disclosure, by the member involved, of any conflicting interests when they arise. Board members are required to disclose such conflicts of interest before and during board meetings. The person with a conflict of interests is recused from discussion on any topic for which they a conflict of interest.

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

The personnel committee (general chair, administrative vice-chair, finance vice-chair, and an athlete member) meets to determine salaries for the following year. The committee uses fair market values for comparable organizations in the houston area to set the initial salary ranges. Subsequent salary increases are determined in a similar manner. These salaries are then approved by the board in a board meeting; any officers whose salary is being discussed are recused during that part of the board meeting.

Form 990, Page 6, Part VI, Line 19

Governing documents are available either on the website or upon request.

Filing and Contact Details

Filer

Filer Name
Gulf Swimming Inc
EIN
74-2205449
Phone
7138197974
Address
1911 SHADOW FOREST DR, KATY, TX 77494

Signing Officer

Name
Travis Sandifer
Title
Finance V-chair 9/21
Phone
7133005168
Signed
2022-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charlie Fry
Formed
1982
Legal Domicile
TX
Voting Board Members
14
Independent Board Members
13
Employees
3
Volunteers
505

Preparer

Firm
Cox and Associates Cpas LLC
Address
21960 HIGHWAY 242, NEW CANEY, TX 77357
Preparer
Cynthia a Cox
Phone
2813998153
Supplemental Narrative

Additional Explanations

Form 990

990 part i - general information gulf swimming uses a bi-cameral body with the board and the house of delegates. The house of delegates is made up of two votes for each registered club members plus the 14 voting members of the board. The house must approve all motions concerning monetary matters.

Form 990, Page 1, Part I, Line 6

Gulf swimming's volunteers assist with officiating at sanctioned swim meets, scheduling these meets, and training swimmers for the meets. Other volunteers help by planning events and serving on our standing and operational committees. Most of our board members are volunteers and they oversee the operations of the organization and help as needed with events.

Form 990, Part III

Gs sent a group of elite level swimmers to compete as representatives of the gs local swimming committee (lsc) in the southern zone open water meet. These swimmers were chosen from all the teams in gs and competed as an all-star team. During 2021 a total of 33 swimmers were reimbursed 32,400 for participating in this all-star meet.

Financial Statement Notes

Schedule D, Page 3, Part X

The organization is a not-for-profit organization that is exempt from federal income taxes under section 501(c)3 of the internal revenue code. The organization files an annual informational return. The organization is also subject to taxes on unrelated business income when applicable. The 990t is filed to report any unrelated business income with the filing of the 990. The 2021 990 will be filed by the internal revenue service due date. The organization believes that all significant tax positions utilized by the organization will more likely than not be sustained upon examination. As of december 31, 2021, the tax years that remain subject to examination by the major tax jurisdictions under the statute of limitations are from the fiscal year 2018 forward. Tax penalties and interest, if any, would be accrued as incurred and would be classified as general and administrative expense in the statement of receipts, expenses, and changes in net assets - modified cash basis. There is no unrelated business income during the calendar year 2021.

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