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Triangle Rowing Club FY2022 filing

Tax-deductible

Cary, NC501(c)(3)Recreation & SportsEIN 20-2416149Revenue $343K in FY2022

On file with the IRStrianglerowing.orgPo Box 5102, 27512-5102 · Cary, NCTax-exempt since Dec 2008Publicly supported — 509(a)(2)

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Our mission is to promote character, commitment, athleticism, and teamwork in youth through the sport of competitive rowing.

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

FY2022 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $28K a year · 6% 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
4 mo
of spending, in cash
Looks good: 4.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $79
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$8K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$343K
-9% vs prior year
Spent
$305K
To programs
95%
Net assets
$226K
By yearFY2021–FY2025
Revenue
$343K
FY2022▼ -9%
Tap a bar for its year
Revenue by fiscal year
FY2021$377K
FY2022$343K
FY2023$448K
FY2024$501K
FY2025$543K
Expenses
$305K
FY2022▼ -6%
Tap a bar for its year
Expenses by fiscal year
FY2021$324K
FY2022$305K
FY2023$415K
FY2024$482K
FY2025$549K
Net assets
$226K
FY2022▼ -36%
Tap a bar for its year
Net assets by fiscal year
FY2021$351K
FY2022$226K
FY2023$260K
FY2024$278K
FY2025$272K

From the FY2022 Form 990 (year ending July 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 2008.

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% · $289K Management & general 5% · $17K

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

19 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Ron Brinton
Board - 7/21
$0Pt VII · Sec A
Courtney Clark
VP - 7/21-12
$0Pt VII · Sec A
Katie Cornetto
Sec - Eff 12
$0Pt VII · Sec A
Laurian Cristea
Board - Eff
$0Pt VII · Sec A
Michele Von Dauber
Board - Thru
$0Pt VII · Sec A
Nick Demarco
VP - Eff 6/2
$0Pt VII · Sec A
Ashley Engemann
Sec - Thru 1
$0Pt VII · Sec A
Cindy Eward
Treas - Thru
$0Pt VII · Sec A
See Triangle Rowing Club 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 15aNo

Programs and updates

Develops youth character, commitment, and teamwork through competitive rowing.

Questions for Triangle Rowing Club

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Provided by the organization

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1 program · $289K · in their own filed words · FY2021
01

Operating a youth rowing training and competition program

$289Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2023
Amazonsmile FoundationFY2023$79
Total grants receivedfrom 1 funder$79
Grants paid · 2 grants · $26K · 2023–2024
Unitemized GrantFY2024$8,366
Unitemized GrantFY2023$17,764

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$343K
Ln 12
Fees for servicesLn 2g$312K
Gifts and grantsLn 1h$41K
Investment incomeLn 3$9
Money outPt IX
$305K
Ln 25
Programscol B$289K
Managementcol C$17K
Owns and owesPt X
$226K
net assets · Ln 32
Cash and savingsLn 1–2$104K
Total assetsLn 16$235K
LiabilitiesLn 26$8K
PeoplePt VI, VII
19
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$41K
Fundraising eventsLn 1c$41K
Fees for servicesLn 2g$312K
Investment incomeLn 3$9
Total revenueLn 12$343K
Assets in detailPt X, end of year
CashLn 1$9K
SavingsLn 2$96K
Cash and savings togetherLn 1–2$104K
Land, buildings, equipmentLn 10c$124K
Total assetsLn 16$235K
LiabilitiesLn 26$8K
Net assetsLn 32$226K
OperationsPt I, VI
EmployeesI 52
VolunteersI 675
Fiscal year endsHeaderJuly
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 FY22End FY22
Cash and savingsLn 1–2$76K$104K
Land, buildings, equipmentLn 10c$109K$124K
Total assetsLn 16$189K$235K
LiabilitiesLn 26$811$8K
Net assetsLn 32$188K$226K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of disqualified personsLn 6$74K$74K
Other salaries and wagesLn 7$38K$38K
Payroll taxesLn 10$6K$6K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$8K$3K$5K
Information technologyLn 14$3K$3K
OccupancyLn 16$17K$17K$446
TravelLn 17$1K$1K
InterestLn 20$314$314
Depreciation, depletion and amortizationLn 22$45K$45K
InsuranceLn 23$11K$11K
Other expenses (24a–d)Ln 24$99K$99K
Total functional expensesLn 25$305K$289K$17K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $543K$549K−$6K$272K 990 PDF
FY2024 $501K$482K$19K$278K 990 PDF
FY2023 $448K$415K$34K$260K 990 PDF
FY2022 Viewing $343K$305K$38K$226K 990 PDF
FY2021 $377K$324K$53K$351K 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 FY2022 990 (6 parts)
Part I · Summary $343,414 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $33,533$41,486
I-9 Program service revenuePrior year $174,126$312,180
I-10 Investment incomePrior year $5$9
I-11 Other revenuePrior year −$4,233−$10,261
I-12 Total revenuePrior year $203,431$343,414
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $98,467$118,258
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $122,868$186,864
I-18 Total expensesPrior year $221,335$305,122
I-19 Revenue less expensesPrior year −$17,904$38,292
Part VI · Governance 15 of 15 board members independent, 3 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $343,414 across 6 lines filed
VIII-1c Fundraising events$41,486
VIII-1h Total contributions, gifts and grants$41,486
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $312,180$312,180
VIII-3 Investment incomeRelated to mission $9$9
VIII-8 Net income from fundraising events−$10,261
VIII-12 Total revenueRelated to mission $312,189$343,414
Part IX · Statement of functional expenses $305,122 across 12 lines filed
IX-6 Pay of disqualified personsPrograms $74,167$74,167
IX-7 Other salaries and wagesPrograms $37,784$37,784
IX-10 Payroll taxesPrograms $6,307$6,307
IX-12 Advertising and promotionPrograms $1,622$1,622
IX-13 Office expensesPrograms $2,873 · Management $5,184$8,057
IX-14 Information technologyPrograms $2,779$2,779
IX-16 OccupancyPrograms $16,866 · Management $446$17,312
IX-17 TravelPrograms $1,312$1,312
IX-20 InterestPrograms $314$314
IX-22 Depreciation, depletion and amortizationPrograms $45,471$45,471
IX-23 InsuranceManagement $10,871$10,871
IX-24 Other expenses (24a–d)Programs $99,126$99,126
IX-25 Total functional expensesPrograms $288,621 · Management $16,501 · Fundraising $0$305,122
Part X · Balance sheet $234,674 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $5,921$8,524
X-2 Savings and temporary cash investmentsStart of year $69,819$95,721
X-9 Prepaid expenses and deferred chargesStart of year $4,238$6,181
X-10c Land, buildings and equipment, netStart of year $108,843$124,248
X-16 Total assetsStart of year $188,821$234,674
X-25 Other liabilitiesStart of year $811$366
X-26 Total liabilitiesStart of year $811$8,372
X-32 Total net assets or fund balancesStart of year $188,010$226,302
X-33 Total liabilities and net assetsStart of year $188,821$234,674
Part XI · Reconciliation of net assets $226,302 net assets at year end
XI-1 Total revenue$343,414
XI-2 Total expenses$305,122
XI-3 Revenue less expenses$38,292
XI-4 Net assets at start of year$188,010
XI-10 Net assets at end of year$226,302

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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