Race Swami FY2022 filing

Tax-deductible

Salt Lake Cty, UT501(c)(3)EIN 27-4648408Revenue $185K in FY2022

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.
76¢ of each $1 spent went to programs.
$65K 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

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
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
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$65K
to officers and key staff · 29% of spending
Worth a look: pay to officers and key staff is 29% of spending; over 20%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.4 months of spending in cash; 1 to 3.
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
$8K
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
$185K
-9% vs prior year
Spent
$223K
To programs
76%
Net assets
$41K
By yearFY2020–FY2024
Revenue
$185K
FY2022▼ -9%
Tap a bar for its year
Revenue by fiscal year
FY2020$216K
FY2021$204K
FY2022$185K
FY2023$178K
FY2024$254K
Expenses
$223K
FY2022-0.3%
Tap a bar for its year
Expenses by fiscal year
FY2020$196K
FY2021$223K
FY2022$223K
FY2023$188K
FY2024$177K
Net assets
$41K
FY2022▼ -48%
Tap a bar for its year
Net assets by fiscal year
FY2020$103K
FY2021$78K
FY2022$41K
FY2023$32K
FY2024$110K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 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

76 cents of each dollar spent went to programs.

Program services 76% · $170K Management & general 14% · $32K Fundraising 9% · $21K

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; $65K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Di
$65,000Pt VII · Sec A
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Board Presid
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer
$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.

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Provided by the organization

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1 program · $170K · in their own filed words · FY2022
01

After a tumultuous 2020-21 due to the pandemic that resulted in facility closures, race swami resumed it's pre-pandemic stride by serving families in numerous capacities-from the pool to the classroom.

$170Kprogram 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 FY2022 990, line by line.

1The main four
Money inPt VIII
$185K
Ln 12
Gifts and grantsLn 1h$158K
Fees for servicesLn 2g$28K
Investment incomeLn 3$11
Money outPt IX
$223K
Ln 25
Programscol B$170K
Managementcol C$32K
Fundraisingcol D$21K
Owns and owesPt X
$41K
net assets · Ln 32
Cash and savingsLn 1–2$45K
Total assetsLn 16$49K
LiabilitiesLn 26$8K
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$158K
Fees for servicesLn 2g$28K
Investment incomeLn 3$11
Total revenueLn 12$185K
Assets in detailPt X, end of year
CashLn 1$8K
SavingsLn 2$37K
Cash and savings togetherLn 1–2$45K
Total assetsLn 16$49K
LiabilitiesLn 26$8K
Net assetsLn 32$41K
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 FY22End FY22
Cash and savingsLn 1–2$85K$45K
Total assetsLn 16$88K$49K
LiabilitiesLn 26$9K$8K
Net assetsLn 32$78K$41K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$65K$42K$6K$16K
Other salaries and wagesLn 7$54K$47K$6K
Payroll taxesLn 10$9K$7K$1K$1K
Accounting feesLn 11c$13K$13K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$10K$9K$483$483
Information technologyLn 14$4K$4K$201$201
OccupancyLn 16$34K$34K
TravelLn 17$10K$10K
InsuranceLn 23$506$506
Other expenses (24a–d)Ln 24$17K$15K$2K
All other expensesLn 24e$3K$2K$695
Total functional expensesLn 25$223K$170K$32K$21K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $254K$177K$78K$110K 990 PDF
FY2023 $178K$188K−$9K$32K 990 PDF
FY2022 Viewing $185K$223K−$37K$41K 990 PDF
FY2021 $204K$223K−$20K$78K 990 PDF
FY2020 $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 FY2022 990 (6 parts)
Part I · Summary $185,377 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $146,289$157,572
I-9 Program service revenuePrior year $57,401$27,794
I-10 Investment incomePrior year $8$11
I-11 Other revenue$0
I-12 Total revenuePrior year $203,698$185,377
I-13 Grants and similar amounts paidPrior year $20,643$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $106,852$127,790
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $95,972$94,935
I-18 Total expensesPrior year $223,467$222,725
I-19 Revenue less expensesPrior year −$19,769−$37,348
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 $185,377 across 5 lines filed
VIII-1f All other contributions, gifts and grants$157,572
VIII-1h Total contributions, gifts and grants$157,572
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $27,794$27,794
VIII-3 Investment incomeExcluded from tax $11$11
VIII-12 Total revenueRelated to mission $27,794 · Excluded from tax $11$185,377
Part IX · Statement of functional expenses $222,725 across 12 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $42,250 · Management $6,500 · Fundraising $16,250$65,000
IX-7 Other salaries and wagesPrograms $47,117 · Management $6,480$53,597
IX-10 Payroll taxesPrograms $6,927 · Management $1,006 · Fundraising $1,260$9,193
IX-11c Accounting feesManagement $13,363$13,363
IX-12 Advertising and promotionManagement $2,771$2,771
IX-13 Office expensesPrograms $8,689 · Management $483 · Fundraising $483$9,655
IX-14 Information technologyPrograms $3,610 · Management $201 · Fundraising $201$4,012
IX-16 OccupancyPrograms $34,228$34,228
IX-17 TravelPrograms $9,916$9,916
IX-23 InsuranceManagement $506$506
IX-24 Other expenses (24a–d)Programs $14,915 · Fundraising $2,489$17,404
IX-24e All other expensesPrograms $2,385 · Management $695$3,080
IX-25 Total functional expensesPrograms $170,037 · Management $32,005 · Fundraising $20,683$222,725
Part X · Balance sheet $49,037 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $6,152$7,971
X-2 Savings and temporary cash investmentsStart of year $79,266$36,670
X-4 Accounts receivableStart of year $2,085$4,396
X-16 Total assetsStart of year $87,503$49,037
X-17 Accounts payable and accrued expensesStart of year $9,247$8,129
X-26 Total liabilitiesStart of year $9,247$8,129
X-27 Net assets without donor restrictionsStart of year $78,256$17,703
X-28 Net assets with donor restrictions$23,205
X-32 Total net assets or fund balancesStart of year $78,256$40,908
X-33 Total liabilities and net assetsStart of year $87,503$49,037
Part XI · Reconciliation of net assets $40,908 net assets at year end
XI-1 Total revenue$185,377
XI-2 Total expenses$222,725
XI-3 Revenue less expenses−$37,348
XI-4 Net assets at start of year$78,256
XI-10 Net assets at end of year$40,908

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

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