Sandsharks INC: FY2021 Nonprofit Profile & Form 990 (EIN 56-1838975)

Revenue by fiscal year
FY2021	$251K
FY2023	$212K

Expenses by fiscal year
FY2021	$216K
FY2023	$263K

Net assets by fiscal year
FY2021	−$51K
FY2023	−$150K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Apr 1994.

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

Where the money goes

94 cents of each dollar spent went to programs.

94%

Program services 94% · $204K Management & general 6% · $12K

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 · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Lindley Fleury

President

$0Pt VII · Sec A

Susanne Cooper

Secretary

$0Pt VII · Sec A

Scott Gainey

Board Member

$0Pt VII · Sec A

Scott Gainey’s $56K as Head Coach is at the 67th 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.

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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

Teaches swimming from beginner to elite levels, enabling competition in USS Swimming events.

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Provided by the organization

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1 program · $204K · in their own filed words · FY2020

01

This organization provides swim training from beginner to senior national levels, and the program allows swimmers to compete in meets sponsored by USS Swimming Inc.

$204Kprogram 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 · FY2023

Amazonsmile FoundationFY2023$16

Total grants receivedfrom 1 funder$16

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$251K

Ln 12

Gifts and grantsLn 1h$107K

Other incomeLn 4–11$101K

Fees for servicesLn 2g$44K

Money outPt IX

$216K

Ln 25

Programscol B$204K

Managementcol C$12K

Owns and owesPt X

−$51K

net assets · Ln 32

Cash and savingsLn 1–2$37K

Total assetsLn 16$90K

LiabilitiesLn 26$141K

PeoplePt VI, VII

3

listed · VII A

PaidVII A0

Voting boardVI 1a4

IndependentVI 1b4

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$107K

Government grantsLn 1e$9K

Fundraising eventsLn 1c$5K

Fees for servicesLn 2g$44K

Other incomeLn 4–11$101K

Total revenueLn 12$251K

Assets in detailPt X, end of year

CashLn 1$37K

Cash and savings togetherLn 1–2$37K

Land, buildings, equipmentLn 10c$51K

Total assetsLn 16$90K

LiabilitiesLn 26$141K

Net assetsLn 32−$51K

OperationsPt I, VI

EmployeesI 54

VolunteersI 610

Fiscal year endsHeaderAugust

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

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$117K	$37K
Land, buildings, equipmentLn 10c	$51K	$51K
Total assetsLn 16	$168K	$90K
LiabilitiesLn 26	$249K	$141K
Net assetsLn 32	−$81K	−$51K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$9K	$9K
Other salaries and wagesLn 7	$66K	$66K
Payroll taxesLn 10	$7K	$7K
Accounting feesLn 11c	$30K	$30K	$492
Other fees for servicesLn 11g	$6K		$6K
TravelLn 17	$3K	$3K
InterestLn 20	$6K		$6K
InsuranceLn 23	$7K	$7K
Other expenses (24a–d)Ln 24	$55K	$55K
All other expensesLn 24e	$27K	$27K
Total functional expensesLn 25	$216K	$204K	$12K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2023 Latest	$212K	$263K	−$52K	−$150K	990 PDF
FY2022	Not on file
FY2021 Viewing	$251K	$216K	$35K	−$51K	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 FY2021 990 (6 parts)

Part I · Summary $250,937 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $143,039$106,862

I-9 Program service revenuePrior year $34,348$43,500

I-10 Investment income$0

I-11 Other revenuePrior year $24,897$100,575

I-12 Total revenuePrior year $202,284$250,937

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $100,720$82,939

I-16a Professional fundraising feesPrior year $4,075$0

I-17 Other expensesPrior year $83,097$133,205

I-18 Total expensesPrior year $187,892$216,144

I-19 Revenue less expensesPrior year $14,392$34,793

Part VI · Governance 4 of 4 board members independent, 1 to look at

VI-1a Voting members of the governing body4

VI-1b Independent voting members4

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

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $250,937 across 7 lines filed

VIII-1b Membership dues$93,091

VIII-1c Fundraising events$5,021

VIII-1e Government grants$8,750

VIII-1h Total contributions, gifts and grants$106,862

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $43,500$43,500

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $100,575$100,575

VIII-12 Total revenueRelated to mission $144,075 · Unrelated business $0 · Excluded from tax $0$250,937

Part IX · Statement of functional expenses $216,144 across 10 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $9,375$9,375

IX-7 Other salaries and wagesPrograms $66,150$66,150

IX-10 Payroll taxesPrograms $7,414$7,414

IX-11c Accounting feesPrograms $30,000 · Management $492$30,492

IX-11g Other fees for servicesManagement $6,015$6,015

IX-17 TravelPrograms $3,152$3,152

IX-20 InterestManagement $5,619$5,619

IX-23 InsurancePrograms $6,870$6,870

IX-24 Other expenses (24a–d)Programs $54,525$54,525

IX-24e All other expensesPrograms $26,532$26,532

IX-25 Total functional expensesPrograms $204,018 · Management $12,126 · Fundraising $0$216,144

Part X · Balance sheet $90,008 assets, 11 lines filed

X-1 Cash, non-interest-bearingStart of year $116,590$37,430

X-4 Accounts receivable$1,488

X-10c Land, buildings and equipment, netStart of year $51,090$51,090

X-16 Total assetsStart of year $167,680$90,008

X-17 Accounts payable and accrued expensesStart of year $4,184$4,223

X-24 Unsecured notes and loans payableStart of year $10,172$19,231

X-25 Other liabilitiesStart of year $2,958$3,385

X-26 Total liabilitiesStart of year $248,560$140,939

X-27 Net assets without donor restrictionsStart of year −$80,880−$50,931

X-32 Total net assets or fund balancesStart of year −$80,880−$50,931

X-33 Total liabilities and net assetsStart of year $167,680$90,008

Part XI · Reconciliation of net assets −$50,931 net assets at year end

XI-1 Total revenue$250,937

XI-2 Total expenses$216,144

XI-3 Revenue less expenses$34,793

XI-4 Net assets at start of year−$80,880

XI-9 Other changes in net assets−$4,844

XI-10 Net assets at end of year−$50,931

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Sandsharks INC FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Sandsharks INC

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV