Civic Intelligence

Olympus Aquatics

990 • Fiscal year 2020 • EIN 90-0968815

Jan 01, 2020 to Dec 31, 2020 • Filed on May 12, 2021

Organization Profilewww.olympusaquatics.com
1917 East 3780 SouthSalt Lake City, UT 84106

(801) 918-5021

Siviq Scores

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

Liabilities / Assets

98th percentile

3.07x

Higher debt load relative to assets than 98% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

73rd percentile

0.07x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

30th percentile

-7.6%

Higher net margin than 30% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

94th percentile

$61,400

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 15.1% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

21st percentile

-18%

Faster asset growth than 21% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2020

Revenue Growth

53rd percentile

-11%

Faster revenue growth than 53% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2020

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$9,177

Down $4,398 (-32%) from 2018

Net Assets

Down

-$19,023

Down $32,598 (-240%) from 2018

Liabilities

Up

$28,200

Up $28,200 from 2018

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin30th percentile

Revenue

Down

$405,917

Down $108,737 (-21%) from 2018

Expenses

Down

$436,815

Down $82,054 (-16%) from 2018

Net Income

Down

-$30,898

Down $26,683 (-633%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$150K$100K$50K$0-$50KAssets 2014: $28,952Liabilities 2014: $02014Assets 2015: $44,545Liabilities 2015: $0Net Assets 2015: $44,5452015Assets 2016: $24,977Liabilities 2016: $0Net Assets 2016: $24,9772016Assets 2017: $20,972Liabilities 2017: $0Net Assets 2017: $20,9722017Assets 2018: $13,575Liabilities 2018: $0Net Assets 2018: $13,5752018Assets 2020: $9,177Liabilities 2020: $28,200Net Assets 2020: -$19,0232020Assets 2021: $22,936Liabilities 2021: $28,032Net Assets 2021: -$5,0962021Assets 2022: $61,361Liabilities 2022: $2,692Net Assets 2022: $58,6692022Assets 2023: $92,636Liabilities 2023: $11,601Net Assets 2023: $81,0352023Assets 2024: $100,400Liabilities 2024: $17,676Net Assets 2024: $82,7242024

Highlighted filing

2020

Assets$9,177
Liabilities$28,200
Net Assets-$19,023
Open 2020 Filing

Operations Trend

Revenue Growth53rd percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2014: $169,199Expenses 2014: $141,128Net Income 2014: $28,0712014Revenue 2015: $269,781Expenses 2015: $254,189Net Income 2015: $15,5922015Revenue 2016: $320,107Expenses 2016: $339,675Net Income 2016: -$19,5682016Revenue 2017: $408,838Expenses 2017: $412,843Net Income 2017: -$4,0052017Revenue 2018: $514,654Expenses 2018: $518,869Net Income 2018: -$4,2152018Revenue 2020: $405,917Expenses 2020: $436,815Net Income 2020: -$30,8982020Revenue 2021: $731,235Expenses 2021: $717,306Net Income 2021: $13,9292021Revenue 2022: $604,178Expenses 2022: $540,413Net Income 2022: $63,7652022Revenue 2023: $573,128Expenses 2023: $550,762Net Income 2023: $22,3662023Revenue 2024: $673,821Expenses 2024: $672,132Net Income 2024: $1,6892024

Highlighted filing

2020

Revenue$405,917
Expenses$436,815
Net Income-$30,898
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 12, 2021
Return Version
2020v4.0
Gross Receipts
$405,917
Mission and Program Overview

Mission

As noted above, Olympus Aquatics promotes aquatics and fitness activities including competitive youth swimming, masters swimming, swimming lessons programs and water polo teams. We service over 700 athletes including athletes of all ages.

Olympus Aquatics was organized to promote aquatic and fitness activities such as a competitive youth swimming, masters swimming and water polo. We currently have over 400 athletes participating in our programs. As with the prior years, athletes served continued to increase in 2020.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$11,875$9,177▼ $2,698
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$11,875$-19,023▼ $30,898
Total Assets$11,875$9,177▼ $2,698
Liabilities
Unsecured Notes Loans Payable-$28,200-
Total Liabilities$0$28,200▲ $28,200
Net Assets / Fund Balance
Total Net Assets Fund Balance$11,875$-19,023▼ $30,898
Total Liabilities and Net Assets / Fund Balance$11,875$9,177▼ $2,698
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Thomas ThorumHead Coach - Board Member at LargePT$61,400$61,400
Shawn Q StringhamClub President - President of the BoardPT$6,667$6,667

Board Members and Trustees

NameTitle
Lee ChamberlainBoard Member at Large
Steve JohnsonBoard Member at Large
Revenue and Support

Revenue Composition

Contributions and Grants
$34,198
Program Service Revenue
$371,719
Investment Income
$0
Other Revenue
$0
All Other Contributions
$10,000
Change in Net Assets
$-30,898
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$287,098
Salaries, Compensation, and Employee Benefits$149,717
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$86,168--$86,168
Current Officers, Directors, Trustees, and Key Employees$68,067--$68,067
Other Salaries and Wages$67,800--$67,800
All Other Expenses$30,523--$30,523
Travel$24,718--$24,718
Other Expenses$24,040$0$0$24,040
Payroll Taxes$13,850--$13,850
Advertising$7,774--$7,774
Information Technology$5,605--$5,605
Insurance$3,277--$3,277
Interest$3,066--$3,066
Office Expenses$244--$244
Total Functional Expenses$436,815$0$0$436,815
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Oranges and Grapefruit Sales$41,978$41,978$17,780$24,198
Total Events$41,978$41,978$17,780$24,198
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
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
No
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, Section B, Line 11B

“Part VI Section B Line 11B - Draft copies of Form 990 and related schedules were provided to all board members prior to filings. Comments were then accumulated and any necessary changes were made before Form 990 and related schedules were filed with the IRS.”

Form 990, Part VI, Section B, Line 12C

“Issues, if any, were reviewed as part of our quarterly board meetings, and were resolved accordingly.”

Form 990, Part VI, Section B, Line 15

“Compensation of key coaches was reviewed by the board and was considered to be equivalent or less to the compensation of other coaches of the same caliber in our area.”

Form 990, Part VI, Section C, Line 19

“Part VI Section B Line 11B - Draft copies of Form 990 and related schedules were provided to all board members prior to filings. Comments were then accumulated and any necessary changes were made before Form 990 and related schedules were filed with the IRS. Part VI Section C Line 19 - As part of the annual meeting of members, the Board of Directors notifies members that governing documents, conflict of interest policies and financial statements of Olympus Aquatics are available to members upon request.”

Filing and Contact Details

Filer

Filer Name
Olympus Aquatics
EIN
90-0968815
Phone
8019185021
Address
1917 East 3780 South, Salt Lake City, UT 84106

Signing Officer

Name
Mitchell Johnson
Title
Treasurer
Phone
8019133984
Signed
2021-05-12

Organization Details

Principal Officer
Shawn Q Stringham
Formed
2013
Legal Domicile
Ut
Voting Board Members
4
Independent Board Members
2
Employees
21
Volunteers
140
Raw XML Appendix385 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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IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt00
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageOtherEventsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt041978
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt041978
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt041978
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt041978
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt024198
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesEvent1Amt00
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesTotalEventsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt017780
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt017780
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt00
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Part VI Section B Line 11B - Draft copies of Form 990 and related schedules were provided to all board members prior to filings. Comments were then accumulated and any necessary changes were made before Form 990 and related schedules were filed with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Issues, if any, were reviewed as part of our quarterly board meetings, and were resolved accordingly.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compensation of key coaches was reviewed by the board and was considered to be equivalent or less to the compensation of other coaches of the same caliber in our area.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Part VI Section B Line 11B - Draft copies of Form 990 and related schedules were provided to all board members prior to filings. Comments were then accumulated and any necessary changes were made before Form 990 and related schedules were filed with the IRS. Part VI Section C Line 19 - As part of the annual meeting of members, the Board of Directors notifies members that governing documents, conflict of interest policies and financial statements of Olympus Aquatics are available to members upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt028200
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IRS990/TotalLiabilitiesGrp/EOYAmt028200
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IRS990/USAddress/AddressLine1Txt01917 East 3780 South
IRS990/USAddress/CityNm0Salt Lake City
IRS990/USAddress/StateAbbreviationCd0UT
IRS990/USAddress/ZIPCd084106
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IRS990/WebsiteAddressTxt0www.olympusaquatics.com
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ReasonableCauseExplanation/ExplanationTxt0Olympus Aquatics completed a paper return and signed it on May 12th of 2020. The return was postmarked and sent certified mail on May 14th. At that point, we were under the impression that we had properly filed a timely return. The paper return was stamped as received by IRS on May 24th. Olympus Aquatics received a letter from the IRS six months later, dated November 23rd, explaining that form 990 now needed to be filed electronically. This letter was not received by Olympus Aquatics until late December and was not provided to the Treasurer or accounting department until Jan 22nd. Once we received the notification we quickly moved forward to file. Olympus Aquatics is managed by part time coaches and part time volunteers. We are fully committed to complying with all tax laws. However, we have no staff members or volunteers who are tax professionals. As a result, we were unaware that the IRS had changed from paper filing requirement to an e-filing requirement for form 990. We are unclear as to why we did not receive any notification or correspondence between the time the paper return was received on May 24th, 2021 and the time we received the letter in December of 2021. Olympus Aquatics continues to operate as a 501[c]-3, but the effects of COVID-19 have devastating to our operations. We are simply not in a position to incur fines or penalties related to this late filing. The paper filing was submitted on time, but the lack of an e-filed form 990 was merely an administrative error on our part and did not result in taxes owed due to the nature of our status as a 501[c]-3. We respectfully request that you waive all fees related to our late e-filing of our 2020 return.
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ReturnHeader/BuildTS02022-05-20 13:21:51Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Mitchell Johnson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum08019133984
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OLYMPUS AQUATICS
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Olympus Aquatics
ReturnHeader/Filer/BusinessNameControlTxt0OLYM
ReturnHeader/Filer/EIN0900968815
ReturnHeader/Filer/PhoneNum08019185021
ReturnHeader/Filer/USAddress/AddressLine1Txt01917 East 3780 South
ReturnHeader/Filer/USAddress/CityNm0Salt Lake City
ReturnHeader/Filer/USAddress/StateAbbreviationCd0UT
ReturnHeader/Filer/USAddress/ZIPCd084106
ReturnHeader/ReturnTs02022-01-23T14:35:18-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$9,177
Liabilities
$28,200
Net assets
-$19,023
Revenue
$405,917
Expenses
$436,815
Net income
-$30,898
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.00$0.18$0.83$6.74$6.72$0.02
2023Detailed filing. Detailed filing data is available for this year.$0.93$0.12$0.81$5.73$5.51$0.22
2022Detailed filing. Detailed filing data is available for this year.$0.61$0.03$0.59$6.04$5.40$0.64
2021Detailed filing. Detailed filing data is available for this year.$0.23$0.28$0.05$7.31$7.17$0.14
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.28$0.19$4.06$4.37$0.31
2018Summary only. Only limited summary data is available for this year.$0.14$0.00$0.14$5.15$5.19$0.04
2017Summary only. Only limited summary data is available for this year.$0.21$0.00$0.21$4.09$4.13$0.04
2016Summary only. Only limited summary data is available for this year.$0.25$0.00$0.25$3.20$3.40$0.20
2015Summary only. Only limited summary data is available for this year.$0.45$0.00$0.45$2.70$2.54$0.16
2014Summary only. Only limited summary data is available for this year.$0.29$0.00$1.69$1.41$0.28