Swimtulsa INC EIN 73-1326892

Swimtulsa INC

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Teaches swimming fundamentals, sportsmanship, discipline, and physical fitness. For fiscal year 2024 it reported $243K in revenue, $219K in expenses, and $266K in net assets.Pt I

Type
Public charity (501(c)(3)) · Recreation & Sports
Location
Tulsa, OK
Website
www.swimtulsa.org
Filings
5 on file (2020–2024)
Revenue
$243KFY2024
Expenses
$219K
Net assets
$266K
People
5
Filings
5
Updates
0
More identity details & actions ⌄
EIN  73-1326892 Public charity (501(c)(3)) Tulsa, OK
Form 990 (PDF)
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Size
<$100K
What they do
Teaches swimming fundamentals, sportsmanship, discipline, and physical fitness.
Leadership
Lynne Gorman · Executive Dir. · $60K
Money in and out
$243K revenue, $219K expenses
Bottom line
92% program efficiency
Where the money goes · FY2024
Total revenue
$243K
Pt VIII · Ln 12
Total expenses
$219K
Pt IX · Ln 25
Net assets
$266K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $24K
Where spending went · Part IX cols B–D
Program services $0.92 Management & general $0.08
Program efficiency
92%
of spending reaches programs▼ -1% vs prior filing year
Operating runway
7.9mo
months of highly liquid reserves at operating expense rate▲ +14% vs prior filing year
Surplus margin
+10%
revenue over expenses, this year▼ -70% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$243K
FY2024▼ -25%
Expenses
$219K
FY2024▲ +1%
Total assets
$267K
FY2024▲ +10%
Total liabilities
$921
FY2024▼ -37%
Total revenue
$243K
Pt VIII · Ln 12
Total expenses
$219K
Pt IX · Ln 25
Net assets
$266K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$24K
Total assetsPt X · Ln 16$267K
Program-expense ratioPt IX · col B92%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 44
Mission & Programs · Part III

Where the work happens

1 program service account for $201K of program spending, described in the organization's own filed words · FY2024.
01

Income from swim meets held to emphasize the fundamentals of the sport while stressing the values of good sportsmanship, discipline, and physical CONDITIONING.DUES, activity fees, and registration fees are used to pay the coaches and operating expenses for the training facilities.

$201Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSwimtulsa INC
EINHdr · item D73-1326892
Principal addressHdr · item CTulsa, OK
WebsiteHdr · item Jwww.swimtulsa.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MOK
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFRecreation & Sports (N67Z)
Ruling yearIRS BMFOct 1989

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b4
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Dir.
$60,000Pt VII · Sec A
Secretary
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Lynne Gorman$60,000
Lynne Gorman$60,000$54,592$60,000$60,000

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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Statement of Revenue

Part VIII
Program service revenue$212K · 87%
Contributions & grants$26K · 11%
Investment income$2K · 1%
Other revenue$3K · 1%
Program service revenue87%$212K
Contributions & grants11%$26K
Investment income1%$2K
Other revenue1%$3K
Total revenueLn 12$243K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.92 Management & general $0.08
Program services92%$201K
Management & general8%$17K
Total functional expensesLn 25$219K

Balance Sheet

Part X · end of year
CashLn 1$145K
Total assetsLn 16$267K
Total liabilitiesLn 26$921
Total net assetsLn 32$266K
Months of cash on handcomputed7.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $145K · Operating expenses/yr $219K
7.9 months
Where the money goes
Program services
Program services $201K · Total expenses $219K
92%
Management & General
Management & general $17K · Total expenses $219K
8%
Fundraising
Fundraising $0 · Total expenses $219K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $9K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $26K · Total revenue $243K
11%
Government reliance
Government grants — · Total revenue $243K
Earned-income share
Program service revenue $212K · Total revenue $243K
87%
Investment reliance
Investment income $2K · Total revenue $243K
+0.9%
Program self-sufficiency
Program service revenue $212K · Total expenses $219K
97%
Growth & trend
Revenue growth (YoY)
This year $243K · Prior year $322K
-25%
Revenue CAGR
FY2020 $138K · FY2024 $243K
+15%
Net-asset trend (YoY)
End of year $266K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $243K · Expenses $219K
+10%
Liabilities-to-Assets
Total liabilities — · Total assets $267K
Net-asset ratio
Net assets $266K · Total assets $267K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $267K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Lynne Gorman · Reported title EXECUTIVE DIR. · Highest reported compensation $60K · Total expenses $219K
27%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $121K · Total expenses $219K
56%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 92%
Overhead ratio 8%
Fundraising cost ratio 0%
Revenue growth -25%
Accounting fee ratio 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$64

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$243K revenue · viewing · ⤓ 990 PDF
FY2023$322K revenue · ⤓ 990 PDF
FY2022$228K revenue · ⤓ 990 PDF
FY2021$223K revenue · ⤓ 990 PDF
FY2020$138K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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