Aqualympics INC

Tax-deductible

Flushing, NY501(c)(3)Recreation & SportsEIN 46-2218011

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Educate youth about water safety, learn to swim and competitive swimming.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Run by 3 volunteers and 17 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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 $6K a year · 2% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$135K
107% of total assets
Concern: liabilities are 107% of assets; over 80%.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$620K
+25% vs prior year
Spent
$596K
To programs
98%
Net assets
−$8K
By yearFY2020–FY2024
Revenue
$620K
FY2024▲ +25%
Revenue by fiscal year
FY2020$108K
FY2021$186K
FY2022$411K
FY2023$495K
FY2024$620K
Expenses
$596K
FY2024▲ +22%
Expenses by fiscal year
FY2020$225K
FY2021$135K
FY2022$406K
FY2023$489K
FY2024$596K
Net assets
−$8K
FY2024▲ +74%
Net assets by fiscal year
FY2020−$93K
FY2021−$43K
FY2022−$38K
FY2023−$32K
FY2024−$8K

From the FY2024 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2013.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $584K Management & general 2% · $13K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Tiffany Yip’s $20K as Director is at the 36th percentile of top reported officer pay among 1017 $100K–1M recreation & sports nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2021FY2020
Kaki Ho$5,000$28,100
Tiffany Yip$20,000—

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.

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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

Teaches kids water safety, swimming, and competitive swimming skills.

Provided by the organization

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1 program service account for $584K of program spending, described in the organization's own filed words · FY2024.
01

Educate youth about water safety, learn to swim and competitive swimming.

$584Kprogram expense

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By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$620K
Ln 12
Fees for servicesLn 2g$620K
Money outPt IX
$596K
Ln 25
Programscol B$584K
Managementcol C$13K
Owns and owesPt X
−$8K
net assets · Ln 32
Cash and savingsLn 1–2$126K
Total assetsLn 16$126K
LiabilitiesLn 26$135K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$620K
Gains on assetsLn 7$0
Total revenueLn 12$620K
Assets in detailPt X, end of year
CashLn 1$126K
SavingsLn 2$0
Cash and savings togetherLn 1–2$126K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$126K
LiabilitiesLn 26$135K
Net assetsLn 32−$8K
OperationsPt I, VI
EmployeesI 517
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$114K$126K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$114K$126K
LiabilitiesLn 26$146K$135K
Net assetsLn 32−$32K−$8K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$277K$277K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$28K$28K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$3K$3K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$86K$86K
Advertising and promotionLn 12$0
Office expensesLn 13$10K$10K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$36K$36K
TravelLn 17$5K$5K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$145K$145K
All other expensesLn 24e$0
Total functional expensesLn 25$596K$584K$13K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $620K$596K$23K−$8K 990 PDF
FY2023 $495K$489K$6K−$32K 990 PDF
FY2022 $411K$406K$5K−$38K 990 PDF
FY2021 $186K$135K$50K−$43K 990 PDF
FY2020 $108K$225K−$116K−$93K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $619,801 across 8 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $619,801$619,801
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $619,801$619,801
Part IX · Statement of functional expenses $596,500 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $277,165$277,165
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $27,859$27,859
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $2,900$2,900
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $86,000$86,000
IX-12 Advertising and promotion$0
IX-13 Office expensesManagement $9,919$9,919
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $36,000$36,000
IX-17 TravelPrograms $5,019$5,019
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $6,439$6,439
IX-24 Other expenses (24a–d)Programs $145,199$145,199
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $583,681 · Management $12,819 · Fundraising $0$596,500
Part X · Balance sheet $126,387 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $114,174$126,387
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $114,174$126,387
X-17 Accounts payable and accrued expensesStart of year $53,026$6,040
X-19 Deferred revenueStart of year $92,752$128,650
X-26 Total liabilitiesStart of year $145,778$134,690
X-32 Total net assets or fund balancesStart of year −$31,604−$8,303
X-33 Total liabilities and net assetsStart of year $114,174$126,387
Part XI · Reconciliation of net assets −$8,303 net assets at year end
XI-1 Total revenue$619,801
XI-2 Total expenses$596,500
XI-3 Revenue less expenses$23,301
XI-4 Net assets at start of year−$31,604
XI-10 Net assets at end of year−$8,303

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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