Annapolis Swim Club Corporation

EIN 84-3015426 Public charity (501(c)(3)) Riva, MD Founded 2019

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Size

$100K–1M

What they do

Develops swimmers' character, sportsmanship, and achievement in a safe, supportive environment.

Leadership

Stephen Henderson · Head Coach/D · $83K

Money in and out

$920K revenue, $781K expenses

Bottom line

98% program efficiency

Develops swimmers' character, sportsmanship, and achievement in a safe, supportive environment. For fiscal year 2024 it reported $920K in revenue, $781K in expenses, and $718K in net assets.Pt I

Where the money goes · FY2024

Total revenue

$920K

Pt VIII · Ln 12

Total expenses

$781K

Pt IX · Ln 25

Net assets

$718K

Pt X · Ln 32

Revenue less expenses (Pt I · Ln 19): $139K

Where spending went · Part IX cols B–D

98%

Program services $0.98 Management & general $0.02

Program efficiency

98%

of spending reaches programs0% vs prior filing year

Operating runway

11.0mo

months of highly liquid reserves at operating expense rate▲ +4% vs prior filing year

Surplus margin

+15%

revenue over expenses, this year▼ -29% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990

Revenue

$920K

FY2024▲ +10%

Expenses

$781K

FY2024▲ +19%

Total assets

$718K

FY2024▲ +24%

Total liabilities

FY2024

Total revenue

$920K

Pt VIII · Ln 12

Total expenses

$781K

Pt IX · Ln 25

Net assets

$718K

Pt X · Ln 32

Revenue less expensesPt I · Ln 19$139K

Total assetsPt X · Ln 16$718K

Program-expense ratioPt IX · col B98%

Voting members of governing bodyPt I · Ln 37

Independent voting membersPt I · Ln 4pending

Mission & Programs · Part III

Where the work happens

2 program services account for $762K of program spending, described in the organization's own filed words · FY2024.

Annapolis swim club (asc) is a membership organization dedicated to coaching swimmers for competitive youth swimming and attends and hosts swim meets or competitions (meets) in a sports league with other competitive swim clubs.

$460Kprogram expense

Asc hosts some, but not all of the meets that it participates in. Members compete on behalf of asc and get their times recorded with maryland state swimming. Meets allow member swimmers to be ranked with maryland state swimming and to qualify to compete in ranked meets that are local, state and national level.

$302Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File

Legal nameHdr · item CAnnapolis Swim Club Corporation

EINHdr · item D84-3015426

Principal addressHdr · item CRiva, MD

WebsiteHdr · item Jwww.swimasc.net

Year of formationHdr · item L2019

State of legal domicileHdr · item MMD

Exempt statusHdr · item I501(c)(3) · active

NTEE classificationIRS BMFYouth Development (O50)

Ruling yearIRS BMFMar 2022

Governance & Policies

Part VI

Voting members of the governing bodyPt VI · Ln 1a7

Independent voting membersPt VI · Ln 1bpending

Conflict-of-interest policyPt VI · Ln 12aNo

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

Stephen Henderson

Head Coach/D

$82,664Pt VII · Sec A

Anne Canaday

Director

$0Pt VII · Sec A

Alex Martin

Director

$0Pt VII · Sec A

Kirra Brandon

Vice Preside

$0Pt VII · Sec A

Lisa Gebbia

President

$0Pt VII · Sec A

Klaus D Luhta

Secretary

$0Pt VII · Sec A

Sara Aronson McGrath

Treasurer

$0Pt VII · Sec A

Stephen Henderson’s $83K as Head Coach/D is at the 74th percentile of top reported officer pay among 1984 $100K–1M youth development 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 · 1 named individual · Part VII

Name	FY2024	FY2024	FY2023	FY2022	FY2021
Stephen Henderson	$82,664	$73,899	$70,618	$70,000	$64,462

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 revenue100%$920K

Total revenueLn 12$920K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising

Allocation · columns B–D

98%

Program services $0.98 Management & general $0.02

Program services98%$762K

Management & general2%$19K

Total functional expensesLn 25$781K

Balance Sheet

Part X · end of year

CashLn 1$718K

Total assetsLn 16$718K

Total liabilitiesLn 26$0

Total net assetsLn 32$718K

Months of cash on handcomputed11.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it

Liquidity & Payout

Operating runway

Highly liquid reserves $718K · Operating expenses/yr $781K

11.0 months

Where the money goes

Program services

Program services $762K · Total expenses $781K

98%

Management & General

Management & general $19K · Total expenses $781K

Fundraising

Fundraising $0 · Total expenses $781K

Cost to raise $1

Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0

Solicited contributions below reporting floor

Where the money comes from

Contribution dependence

Contributions & grants $0 · Total revenue $920K

Government reliance

Government grants — · Total revenue $920K

—

Earned-income share

Program service revenue $920K · Total revenue $920K

100%

Investment reliance

Investment income $0 · Total revenue $920K

Program self-sufficiency

Program service revenue $920K · Total expenses $781K

118%

Growth & trend

Revenue growth (YoY)

This year $920K · Prior year $837K

+10%

Revenue CAGR

FY2020 $353K · FY2024 $920K

+27%

Net-asset trend (YoY)

End of year $718K · Beginning of year —

Beginning net assets not meaningfully positive — showing dollar change

Balance sheet

Surplus Margin

Revenue $920K · Expenses $781K

+15%

Liabilities-to-Assets

Total liabilities — · Total assets $718K

—

Net-asset ratio

Net assets $718K · Total assets $718K

100%

Marketable Investment Share

Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $718K

Excludes program-related investments (Pt X, ln 13)

People & payroll

Highest Reported Total Compensation

Individual Stephen Henderson · Reported title HEAD COACH/D · Highest reported compensation $83K · Total expenses $781K

11%

Personnel share

Salaries, benefits & payroll (Pt IX 5-10) $262K · Total expenses $781K

34%

Peer comparison

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

Metric	This org	Peer median	Percentile
Program ratio	98%	—	—
Overhead ratio	2%	—	—
Revenue growth	10%	—	—

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.

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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$837K revenue · ⤓ 990 PDF

FY2023$774K revenue · ⤓ 990 PDF

FY2022$595K revenue · ⤓ 990 PDF

FY2021$353K 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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