M3 Aquatics Nfp

Tax-deductible

Chicago, IL501(c)(3)Since 2020Recreation & SportsEIN 85-1906966

Competitive swim team and swim school

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
Run by 3 volunteers and 32 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
3 of 3
filings with a surplus
Average surplus $11K a year · 3% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
75%
of spending
Fine: 75% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$111K
to officers and key staff · 33% of spending
Top officer’s pay higher than 72% of similar orgs
Concern: pay to officers and key staff is 33% of spending; over 30%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $95
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 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
$343K
-5% vs prior year
Spent
$336K
To programs
75%
Net assets
$20K
By yearFY2021–FY2024
Revenue
$343K
FY2024▼ -5%
Revenue by fiscal year
FY2021$160K
FY2022$292K
FY2023$361K
FY2024$343K
Expenses
$336K
FY2024▼ -4%
Expenses by fiscal year
FY2021Not on file
FY2022$279K
FY2023$348K
FY2024$336K
Net assets
$20K
FY2024
Net assets by fiscal year
FY2021$5K
FY2022$18K
FY2023$0
FY2024$20K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2020.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $252K Management & general 25% · $84K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

3 people listed on the 990; $111K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$63,000Pt VII · Sec A
$24,000Pt VII · Sec A
$24,000Pt VII · Sec A

Kate Chronic’s $63K as President is at the 72nd 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 · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021
Kate Chronic$63,000$46,000$41,000$23,000
Mirko Mirkov—$48,000$44,000$48,000
Ben Pearthree$24,000———
Maurice Wills$24,000$24,000$11,000$11,000

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.

See M3 Aquatics Nfp 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

Teaches swimming and trains competitive swimmers.

Provided by the organization

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1 program service account for $252K of program spending, described in the organization's own filed words · FY2024.
01

Coaching competitive youth swimming athletes and teaching youth to swim

$252Kprogram expense

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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
Total grants receivedfrom 1 funder$95

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$343K
Ln 12
Fees for servicesLn 2g$341K
Gifts and grantsLn 1h$1K
Money outPt IX
$336K
Ln 25
Programscol B$252K
Managementcol C$84K
Owns and owesPt X
$20K
net assets · Ln 32
Cash and savingsLn 1–2$20K
Total assetsLn 16$20K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A3
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1K
Fees for servicesLn 2g$341K
Total revenueLn 12$343K
Assets in detailPt X, end of year
CashLn 1$20K
Cash and savings togetherLn 1–2$20K
Total assetsLn 16$20K
LiabilitiesLn 26$0
Net assetsLn 32$20K
OperationsPt I, VI
EmployeesI 532
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$20K
Total assetsLn 16$0$20K
LiabilitiesLn 26$0$0
Net assetsLn 32$0$20K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$111K$56K$55K$0
Pay of disqualified personsLn 6$102K$102K$0$0
Pension plan contributionsLn 8$60K$45K$15K$0
Accounting feesLn 11c$4K$0$4K$0
Advertising and promotionLn 12$6K$6K$0$0
Office expensesLn 13$7K$0$7K$0
Information technologyLn 14$325$325$0$0
OccupancyLn 16$19K$19K$0$0
TravelLn 17$5K$5K$0$0
InsuranceLn 23$2K$0$2K$0
Other expenses (24a–d)Ln 24$20K$20K$306$0
Total functional expensesLn 25$336K$252K$84K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $343K$336K$7K$20K 990 PDF
FY2023 $361K$348K$13K$0 990 PDF
FY2022 $292K$279K$13K$18K 990 PDF
FY2021 $160K$5K 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 $342,648 across 4 lines filed
VIII-1f All other contributions, gifts and grants$1,319
VIII-1h Total contributions, gifts and grants$1,319
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$341,329
VIII-12 Total revenueRelated to mission $341,329 · Unrelated business $0 · Excluded from tax $0$342,648
Part IX · Statement of functional expenses $335,884 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $56,000 · Management $55,000 · Fundraising $0$111,000
IX-6 Pay of disqualified personsPrograms $102,092 · Management $0 · Fundraising $0$102,092
IX-8 Pension plan contributionsPrograms $44,595 · Management $15,000 · Fundraising $0$59,595
IX-11c Accounting feesPrograms $0 · Management $3,783 · Fundraising $0$3,783
IX-12 Advertising and promotionPrograms $5,591 · Management $0 · Fundraising $0$5,591
IX-13 Office expensesPrograms $0 · Management $7,449 · Fundraising $0$7,449
IX-14 Information technologyPrograms $325 · Management $0 · Fundraising $0$325
IX-16 OccupancyPrograms $18,679 · Management $0 · Fundraising $0$18,679
IX-17 TravelPrograms $4,690 · Management $0 · Fundraising $0$4,690
IX-23 InsurancePrograms $0 · Management $2,442 · Fundraising $0$2,442
IX-24 Other expenses (24a–d)Programs $19,932 · Management $306 · Fundraising $0$20,238
IX-25 Total functional expensesPrograms $251,904 · Management $83,980 · Fundraising $0$335,884
Part X · Balance sheet $19,554 assets, 6 lines filed
X-1 Cash, non-interest-bearing$19,554
X-16 Total assetsStart of year $0$19,554
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictions$19,554
X-32 Total net assets or fund balancesStart of year $0$19,554
X-33 Total liabilities and net assetsStart of year $0$19,554
Part XI · Reconciliation of net assets $19,554 net assets at year end
XI-1 Total revenue$342,648
XI-2 Total expenses$335,884
XI-3 Revenue less expenses$6,764
XI-10 Net assets at end of year$19,554

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

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