Triangle Aquatic Center FY2023 filing

Tax-deductible

Cary, NC501(c)(3)Since 2002Recreation & SportsEIN 14-1839387Revenue $4.9M in FY2023

On file with the IRStriangleaquatics.org275 Convention Dr, 27511-4257 · Cary, NCTax-exempt since Oct 2002Publicly supported charity — 170(b)(1)(A)(vi)

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Developing swimmers for lifelong success

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average deficit $180K a year · 3% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $772K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$19.1M
74% of total assets
Worth a look: liabilities are 74% of assets; over 65%.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.9M
-22% vs prior year
Spent
$4.6M
To programs
95%
Net assets
$6.7M
By yearFY2020–FY2024
Revenue
$4.9M
FY2023▼ -22%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.2M
FY2021$5.7M
FY2022$6.3M
FY2023$4.9M
FY2024$8.0M
Expenses
$4.6M
FY2023▼ -21%
Tap a bar for its year
Expenses by fiscal year
FY2020$7.6M
FY2021$4.8M
FY2022$5.8M
FY2023$4.6M
FY2024$7.2M
Net assets
$6.7M
FY2023▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.1M
FY2021$6.0M
FY2022$6.4M
FY2023$6.7M
FY2024$8.2M

From the FY2023 Form 990 (year ending August 2023) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2002.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $4.4M Management & general 5% · $235K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Past Chairma
$0Pt VII · Sec A
Vice Chairma
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
See Triangle Aquatic Center executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Builds and operates public pools for community health, safety, recreation, and aquatic sports.

Questions for Triangle Aquatic Center

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Provided by the organization

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1 program · $4.4M · in their own filed words · FY2023
01

Aquatic Services

To build and operate public aquatic facilities for the health, safety,recreation and competition needs of triangle citizens and aquatic organizations.

$4.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 4 funders$772K
See all 4 funders →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$4.9M
Ln 12
Fees for servicesLn 2g$4.0M
Gifts and grantsLn 1h$529K
Other incomeLn 4–11$219K
Money outPt IX
$4.6M
Ln 25
Programscol B$4.4M
Managementcol C$235K
Owns and owesPt X
$6.7M
net assets · Ln 32
Cash and savingsLn 1–2$816K
Total assetsLn 16$25.8M
LiabilitiesLn 26$19.1M
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$529K
Fees for servicesLn 2g$4.0M
Investment incomeLn 3$215K
Other incomeLn 4–11$219K
Gains on assetsLn 7$173K
Total revenueLn 12$4.9M
Assets in detailPt X, end of year
CashLn 1$30K
SavingsLn 2$786K
Cash and savings togetherLn 1–2$816K
InvestmentsLn 11–13$810K
Land, buildings, equipmentLn 10c$24.2M
Total assetsLn 16$25.8M
LiabilitiesLn 26$19.1M
Net assetsLn 32$6.7M
OperationsPt I, VI
EmployeesI 5204
VolunteersI 615
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.0M$816K
InvestmentsLn 11–13$716K$810K
Land, buildings, equipmentLn 10c$23.2M$24.2M
Total assetsLn 16$24.9M$25.8M
LiabilitiesLn 26$18.5M$19.1M
Net assetsLn 32$6.4M$6.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$959K$863K$96K
Pension plan contributionsLn 8$9K$8K$859
Other employee benefitsLn 9$86K$78K$9K
Payroll taxesLn 10$135K$122K$14K
Accounting feesLn 11c$12K$12K
Other fees for servicesLn 11g$18K$18K
Advertising and promotionLn 12$8K$8K
Office expensesLn 13$17K$17K
Information technologyLn 14$49K$49K
InterestLn 20$841K$841K
Depreciation, depletion and amortizationLn 22$460K$458K$2K
InsuranceLn 23$44K$44K
Other expenses (24a–d)Ln 24$1.8M$1.8M
All other expensesLn 24e$108K$99K$9K
Total functional expensesLn 25$4.6M$4.4M$235K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $8.0M$7.2M$771K$8.2M 990 PDF
FY2023 Viewing $4.9M$4.6M$322K$6.7M 990 PDF
FY2022 $6.3M$5.8M$455K$6.4M 990 PDF
FY2021 $5.7M$4.8M$957K$6.0M 990 PDF
FY2020 $4.2M$7.6M−$3.4M$1.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $4,919,219 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $759,744$529,179
I-9 Program service revenuePrior year $4,880,126$3,955,836
I-10 Investment incomePrior year $302,519$214,844
I-11 Other revenuePrior year $333,217$219,360
I-12 Total revenuePrior year $6,275,606$4,919,219
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,338,557$1,189,078
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $4,482,084$3,407,744
I-18 Total expensesPrior year $5,820,641$4,596,822
I-19 Revenue less expensesPrior year $454,965$322,397
Part VI · Governance 13 of 13 board members independent, 2 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,919,219 across 7 lines filed
VIII-1f All other contributions, gifts and grants$529,179
VIII-1h Total contributions, gifts and grants$529,179
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,955,836$3,955,836
VIII-3 Investment incomeRelated to mission $42,148$42,148
VIII-7 Net gain or loss on sales of assetsRelated to mission $172,696$172,696
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $219,360$219,360
VIII-12 Total revenueRelated to mission $4,390,040$4,919,219
Part IX · Statement of functional expenses $4,596,822 across 14 lines filed
IX-7 Other salaries and wagesPrograms $863,144 · Management $95,905$959,049
IX-8 Pension plan contributionsPrograms $7,728 · Management $859$8,587
IX-9 Other employee benefitsPrograms $77,640 · Management $8,627$86,267
IX-10 Payroll taxesPrograms $121,657 · Management $13,518$135,175
IX-11c Accounting feesManagement $12,493$12,493
IX-11g Other fees for servicesManagement $17,824$17,824
IX-12 Advertising and promotionManagement $8,369$8,369
IX-13 Office expensesManagement $16,895$16,895
IX-14 Information technologyManagement $49,147$49,147
IX-20 InterestPrograms $840,684$840,684
IX-22 Depreciation, depletion and amortizationPrograms $458,338 · Management $1,974$460,312
IX-23 InsurancePrograms $44,457$44,457
IX-24 Other expenses (24a–d)Programs $1,849,581$1,849,581
IX-24e All other expensesPrograms $98,997 · Management $8,985$107,982
IX-25 Total functional expensesPrograms $4,362,226 · Management $234,596 · Fundraising $0$4,596,822
Part X · Balance sheet $25,827,862 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $47,937$30,120
X-2 Savings and temporary cash investmentsStart of year $958,292$786,250
X-10c Land, buildings and equipment, netStart of year $23,208,748$24,201,691
X-11 Publicly traded securitiesStart of year $715,715$809,801
X-16 Total assetsStart of year $24,930,692$25,827,862
X-17 Accounts payable and accrued expenses$2,850
X-20 Tax-exempt bond liabilitiesStart of year $5,353,920$4,680,574
X-25 Other liabilitiesStart of year $9,405,998$9,685,755
X-26 Total liabilitiesStart of year $18,509,918$19,084,691
X-27 Net assets without donor restrictionsStart of year $6,420,774$6,743,171
X-32 Total net assets or fund balancesStart of year $6,420,774$6,743,171
X-33 Total liabilities and net assetsStart of year $24,930,692$25,827,862
Part XI · Reconciliation of net assets $6,743,171 net assets at year end
XI-1 Total revenue$4,919,219
XI-2 Total expenses$4,596,822
XI-3 Revenue less expenses$322,397
XI-4 Net assets at start of year$6,420,774
XI-10 Net assets at end of year$6,743,171

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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