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Terrapins Swim Team FY2021 filing

Tax-deductible

Concord, CA501(c)(3) EIN 68-0106032Revenue $650K in FY2021

On file with the IRSterrapinswim.com3942 Cowell Rd, 94518-1709 · Concord, CATax-exempt since Jul 1992Publicly supported — 509(a)(2)

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The program provides amateur comptitive seim training to children ages 7 to 18. Graduates of the program may be scholarship candidates at various universities and some have gone on to compete at the national and international level including the olympics.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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 $39K a year · 5% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Looks good: 9.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $11K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$350K
65% of total assets
Fine: liabilities are 65% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$650K
Spent
$718K
To programs
97%
Net assets
$193K
By yearFY2021–FY2025
Revenue
$650K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$650K
FY2022$825K
FY2023$844K
FY2024$794K
FY2025$809K
Expenses
$718K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$718K
FY2022$711K
FY2023$788K
FY2024$787K
FY2025$720K
Net assets
$193K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$193K
FY2022$315K
FY2023$370K
FY2024$377K
FY2025$448K

From the FY2021 Form 990 (year ending August 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Jul 1992.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $695K Management & general 3% · $23K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Robert Kolf
Secretary
$0Pt VII · Sec A
Nan Markham
Treasurer
$0Pt VII · Sec A
Ray Mitchell
Director
$0Pt VII · Sec A
Doug Reed
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Laila Wood
President
$0Pt VII · Sec A
See Terrapins Swim Team 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

Trains children ages 7-18 in competitive seamanship, preparing them for scholarships and national/international competitions.

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Provided by the organization

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1 program · $695K · in their own filed words · FY2020
01

The program provided amateur competitive swim training for children ages 7 to 18. Graduates of the program may be scholarship candidates at colleges and universities. A number of graduates have gone on to compete at the national and international level including the olympics.

$695Kprogram 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 · FY2024
USA Swimming INCFY2024$11K
Total grants receivedfrom 1 funder$11K

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$650K
Ln 12
Fees for servicesLn 2g$635K
Gifts and grantsLn 1h$15K
Other incomeLn 4–11$243
Money outPt IX
$718K
Ln 25
Programscol B$695K
Managementcol C$23K
Owns and owesPt X
$193K
net assets · Ln 32
Cash and savingsLn 1–2$543K
Total assetsLn 16$543K
LiabilitiesLn 26$350K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$15K
Fees for servicesLn 2g$635K
Investment incomeLn 3$6
Other incomeLn 4–11$243
Total revenueLn 12$650K
Assets in detailPt X, end of year
CashLn 1$531K
SavingsLn 2$12K
Cash and savings togetherLn 1–2$543K
Total assetsLn 16$543K
LiabilitiesLn 26$350K
Net assetsLn 32$193K
OperationsPt I, VI
EmployeesI 510
Fiscal year endsHeaderAugust
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 FY21End FY21
Cash and savingsLn 1–2$346K$543K
Total assetsLn 16$346K$543K
LiabilitiesLn 26$235K$350K
Net assetsLn 32$111K$193K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$414K$414K
Other employee benefitsLn 9$38K$38K
Payroll taxesLn 10$33K$33K
Accounting feesLn 11c$4K$4K
Other fees for servicesLn 11g$941$941
Office expensesLn 13$20K$20K
Information technologyLn 14$4K$4K
OccupancyLn 16$3K$3K
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$168K$168K
All other expensesLn 24e$26K$26K
Total functional expensesLn 25$718K$695K$23K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $809K$720K$89K$448K 990 PDF
FY2024 $794K$787K$7K$377K 990 PDF
FY2023 $844K$788K$56K$370K 990 PDF
FY2022 $825K$711K$114K$315K 990 PDF
FY2021 Viewing $650K$718K−$69K$193K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $649,714 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $17,692$14,776
I-9 Program service revenuePrior year $472,535$634,689
I-10 Investment incomePrior year $6$6
I-11 Other revenuePrior year $10,192$243
I-12 Total revenuePrior year $500,425$649,714
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $394,597$484,923
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $202,545$233,399
I-18 Total expensesPrior year $597,142$718,322
I-19 Revenue less expensesPrior year −$96,717−$68,608
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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 $649,714 across 6 lines filed
VIII-1f All other contributions, gifts and grants$14,776
VIII-1h Total contributions, gifts and grants$14,776
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $634,689$634,689
VIII-3 Investment incomeRelated to mission $6$6
VIII-8 Net income from fundraising events$243
VIII-12 Total revenueRelated to mission $634,695$649,714
Part IX · Statement of functional expenses $718,322 across 11 lines filed
IX-7 Other salaries and wagesPrograms $414,446$414,446
IX-9 Other employee benefitsPrograms $37,918$37,918
IX-10 Payroll taxesPrograms $32,559$32,559
IX-11c Accounting feesPrograms $3,667$3,667
IX-11g Other fees for servicesPrograms $941$941
IX-13 Office expensesManagement $20,253$20,253
IX-14 Information technologyPrograms $3,876$3,876
IX-16 OccupancyManagement $3,200$3,200
IX-23 InsurancePrograms $7,310$7,310
IX-24 Other expenses (24a–d)Programs $167,682$167,682
IX-24e All other expensesPrograms $26,470$26,470
IX-25 Total functional expensesPrograms $694,869 · Management $23,453 · Fundraising $0$718,322
Part X · Balance sheet $542,580 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $334,652$530,992
X-2 Savings and temporary cash investmentsStart of year $11,582$11,588
X-16 Total assetsStart of year $346,234$542,580
X-24 Unsecured notes and loans payableStart of year $234,913$350,000
X-26 Total liabilitiesStart of year $234,913$350,000
X-27 Net assets without donor restrictionsStart of year $111,321$192,580
X-32 Total net assets or fund balancesStart of year $111,321$192,580
X-33 Total liabilities and net assetsStart of year $346,234$542,580
Part XI · Reconciliation of net assets $192,580 net assets at year end
XI-1 Total revenue$649,714
XI-2 Total expenses$718,322
XI-3 Revenue less expenses−$68,608
XI-4 Net assets at start of year$111,321
XI-9 Other changes in net assets$149,867
XI-10 Net assets at end of year$192,580

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

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