Poseidon Swimming Inc

Nonprofit profile at a glance

EIN
541509037
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Chesterfield, VA, USA
Phone
8043302222
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Swimming & Other Water Recreation

Official website

Reported finances

Revenue
$800,367
Expenses
$735,975
Assets
$337,616
Liabilities
$54,598

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • Scott Males (President)

People named in this filing

  • Scott Males (President)
  • Ludo Hintos (Treasurer)
  • Kim Gunter (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To train, develop and motivate swimmers in the pursuit of individual excellence in a team oriented environment.

What it reported doing in 2024

Swimming programs for youth providing professional level instruction and teaching personal development & committment through competitive sports programs.

Operating model

Revenue model
Membership-supported. 64% of the money available for current operations came from membership dues.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 47
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.8%; rating input score 84
  • Program expense ratio: 91.2%; rating input score 91
  • Fundraising efficiency: $130.21 raised per $1 spent on fundraising; rating input score 89; 89th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.46; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -7.4% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -2% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 83.8% of revenue deployed · 91.2% of spending went to programs
  • Governance: 7 of 7 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $671K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.