Race Swami FY2020 filing

Tax-deductible

Salt Lake Cty, UT501(c)(3)EIN 27-4648408Revenue $216K in FY2020

On file with the IRSraceswami.org2751 S 2700 E, 84109-2013 · Salt Lake Cty, UTTax-exempt since Jun 2011Publicly supported charity — 170(b)(1)(A)(vi)

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Race Swami exists to empower youth to be champions in and out of the water for a lifetime. We provide opportunities in swimming for underserved youth from the west side of salt lake city. Out goal is to develop our participants physical and mental health in a fun and unique environment, deeply rooted in seflt-discipline, teamwork, and whole-body awaremenss. At the same, we value and welcome the rich cultural knowledge and experiences of the youth and communities we serve. Race Swami is a 501 (c) (3) non profit club service the rose park, glendale and neighboring communities of salt lake city's west side.

501(c)(3) charity; gifts are tax-deductible.
71¢ of each $1 spent went to programs.
$66K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · 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
2 of 5
filings with a surplus
Average surplus $6K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$66K
to officers and key staff · 34% of spending
Concern: pay to officers and key staff is 34% of spending; over 30%.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 7.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $129K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$21K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$216K
Spent
$196K
To programs
71%
Net assets
$103K
By yearFY2020–FY2024
Revenue
$216K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$216K
FY2021$204K
FY2022$185K
FY2023$178K
FY2024$254K
Expenses
$196K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$196K
FY2021$223K
FY2022$223K
FY2023$188K
FY2024$177K
Net assets
$103K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$103K
FY2021$78K
FY2022$41K
FY2023$32K
FY2024$110K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2011.

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

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $140K Management & general 13% · $25K Fundraising 16% · $31K

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

8 people listed on the 990; $66K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Di
$66,495Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Matt Finnigan$43,333$54,167$65,000$65,000$66,495

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Race Swami 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Empowers underserved youth through swimming, fostering discipline, teamwork, and well-being.

Provided by the organization

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1 program · $140K · in their own filed words · FY2020
01

January ten high school-aged swamis competed in their respective high school state championship meets (west, east, skyline, and judge memorial) with a record number of top 10 finishes in race swami history. 25k grant awarded from george s.

$140Kprogram 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 · FY2024
See all 5 funders →
Grants paid · 2 grants · $35K · 2020–2021
Unitemized GrantFY2021$20,643
Unitemized GrantFY2020$14,623

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$216K
Ln 12
Gifts and grantsLn 1h$162K
Fees for servicesLn 2g$54K
Investment incomeLn 3$12
Money outPt IX
$196K
Ln 25
Programscol B$140K
Managementcol C$25K
Fundraisingcol D$31K
Owns and owesPt X
$103K
net assets · Ln 32
Cash and savingsLn 1–2$124K
Total assetsLn 16$124K
LiabilitiesLn 26$21K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$162K
Fees for servicesLn 2g$54K
Investment incomeLn 3$12
Total revenueLn 12$216K
Assets in detailPt X, end of year
CashLn 1$124K
Cash and savings togetherLn 1–2$124K
Total assetsLn 16$124K
LiabilitiesLn 26$21K
Net assetsLn 32$103K
OperationsPt I, VI
EmployeesI 514
VolunteersI 660
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$85K$124K
Total assetsLn 16$85K$124K
LiabilitiesLn 26$2K$21K
Net assetsLn 32$83K$103K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$15K$15K
Pay of current officers, directors and key staffLn 5$66K$33K$6K$27K
Other salaries and wagesLn 7$25K$24K$2K
Payroll taxesLn 10$7K$5K$629$2K
Accounting feesLn 11c$16K$16K
Other fees for servicesLn 11g$2K$2K
Information technologyLn 14$12K$12K
OccupancyLn 16$33K$33K
TravelLn 17$3K$3K
InsuranceLn 23$595$595
Other expenses (24a–d)Ln 24$17K$15K$2K
All other expensesLn 24e$647$647
Total functional expensesLn 25$196K$140K$25K$31K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $254K$177K$78K$110K 990 PDF
FY2023 $178K$188K−$9K$32K 990 PDF
FY2022 $185K$223K−$37K$41K 990 PDF
FY2021 $204K$223K−$20K$78K 990 PDF
FY2020 Viewing $216K$196K$20K$103K 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 FY2020 990 (6 parts)
Part I · Summary $215,800 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $164,141$162,288
I-9 Program service revenuePrior year $85,156$53,500
I-10 Investment incomePrior year $41$12
I-11 Other revenue$0
I-12 Total revenuePrior year $249,338$215,800
I-13 Grants and similar amounts paidPrior year $21,188$14,623
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $104,987$99,105
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $118,775$82,551
I-18 Total expensesPrior year $244,950$196,279
I-19 Revenue less expensesPrior year $4,388$19,521
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $215,800 across 5 lines filed
VIII-1f All other contributions, gifts and grants$162,288
VIII-1h Total contributions, gifts and grants$162,288
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $53,500$53,500
VIII-3 Investment incomeExcluded from tax $12$12
VIII-12 Total revenueRelated to mission $53,500 · Excluded from tax $12$215,800
Part IX · Statement of functional expenses $196,279 across 12 lines filed
IX-2 Grants to domestic individualsPrograms $14,623$14,623
IX-5 Pay of current officers, directors and key staffPrograms $33,250 · Management $6,317 · Fundraising $26,928$66,495
IX-7 Other salaries and wagesPrograms $23,710 · Management $1,637$25,347
IX-10 Payroll taxesPrograms $4,504 · Management $629 · Fundraising $2,130$7,263
IX-11c Accounting feesManagement $15,514$15,514
IX-11g Other fees for servicesPrograms $2,132$2,132
IX-14 Information technologyPrograms $11,689$11,689
IX-16 OccupancyPrograms $32,656$32,656
IX-17 TravelPrograms $2,644$2,644
IX-23 InsuranceManagement $595$595
IX-24 Other expenses (24a–d)Programs $14,685 · Fundraising $1,989$16,674
IX-24e All other expensesManagement $647$647
IX-25 Total functional expensesPrograms $139,893 · Management $25,339 · Fundraising $31,047$196,279
Part X · Balance sheet $123,937 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $84,894$123,937
X-16 Total assetsStart of year $84,894$123,937
X-17 Accounts payable and accrued expensesStart of year $1,699$2,003
X-24 Unsecured notes and loans payable$19,218
X-26 Total liabilitiesStart of year $1,699$21,221
X-27 Net assets without donor restrictionsStart of year $83,195$65,079
X-28 Net assets with donor restrictions$37,637
X-32 Total net assets or fund balancesStart of year $83,195$102,716
X-33 Total liabilities and net assetsStart of year $84,894$123,937
Part XI · Reconciliation of net assets $102,716 net assets at year end
XI-1 Total revenue$215,800
XI-2 Total expenses$196,279
XI-3 Revenue less expenses$19,521
XI-4 Net assets at start of year$83,195
XI-10 Net assets at end of year$102,716

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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