New Wave Swim Team
Nonprofit profile at a glance
- EIN
- 561469322
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024
- Location
- Raleigh, NC, USA
- Phone
- 9199810644
- Rating
- 66
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,492,151
- Expenses
- $1,487,214
- Assets
- $535,179
- Liabilities
- $112,653
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- JOHN ROY (PRESIDENT/CEO)
- JONATHAN BESCHER (VICE PRESIDENT)
Highest reported compensation
- JOHN ROY (PRESIDENT/CEO): $74,778 total reported compensation
- ZACHARY MURRAY (TREASURER): $55,002 total reported compensation
- MACON CROWDER (SECRETARY): $51,912 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To build value driven leaders for life through excellence in swimming.
What it reported doing in 2024
Programs to provide support to train & develop competitive swimmers
Operating model
- Revenue model
- Other-operating. 99% of the money available for current operations came from other operating revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 82
- Transparency & Controls: 83
- Accountability: 9
- Sustainability: 29
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 92.1%; rating input score 92
- Program expense ratio: 92.4%; rating input score 92
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
- Governance controls: 2 of 9 controls in place; rating input score 22
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 0.3%; rating input score 37; 37th percentile among comparable filings
- Total-asset coverage ratio: 0.36; rating input score 17; 17th percentile among comparable filings
- Liabilities to assets ratio: 0.21; rating input score 31; 31st percentile among comparable filings
- Officer compensation ratio: 14.1%; rating input score 25; 25th percentile among comparable filings
Growth
- Program expense growth: 16.3% per year; rating input score 100; 77th percentile among comparable filings
- Revenue growth: 13.7% per year; rating input score 100; 76th percentile among comparable filings
- Asset growth: 16.8% per year; rating input score 100; 76th percentile among comparable filings
Details
- Where the money goes: 92.1% of revenue deployed · 92.4% of spending went to programs
- Governance: 0 of 5 board members independent · 2 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.4M in reported program spending
- Leadership: top reported pay $75K · 5 people listed
- Consistency: 24 of 25 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Filing history: 6 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Independent voting board scored 0/100.
- High — Accountability: Governance controls: 6 of 8 not reported.
- Moderate — Sustainability: Operating margin scored 37/100.
- High — Sustainability: Total-asset coverage ratio scored 17/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 25/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 31/100.