Swiminc Inc

Nonprofit profile at a glance

EIN
314400751
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Worthington, OH, USA
Phone
6148851619
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,449,116
Expenses
$1,616,745
Assets
$234,760
Liabilities
$101,902

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

Leadership & pay

14 people listed

Executive titles in this filing

  • Kurt Carmen (Executive Director)
  • Linda Crandall (Vice President)
  • JohnAment (President)

Highest reported compensation

  • Kurt Carmen (Executive Director): $122,558 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 provide swimming facilities to the community for instructional and recreational programs

What it reported doing in 2024

Swiminc currently operates and maintains outdoor recreational swimming facilities for use by the residents of the City and the School District. These facilities consist of an outdoor complex, which includes: three heated pools, including two slides, diving well, and infant pool; splash pad; picnic shelter; concession stand; surrounding deck and grass area. The outdoor facilities are available for use for a daily admission fee or with a purchase of a summer seasonal pass. Swiminc served over 4,000 members and provided over 10,000 individual admissions this year. By providing outdoor recreational swimming facilities for residents of the City and the School District, Swiminc significantly lessens the burdens of the government for the City, as described in Treas. Reg. 1.501(c)(3)-1(d). Were it not for the recreational swimming facilities provided by Swiminc, the City would face considerable public pressure to build, operate and maintain comparable recreational facilities for use by the residents of the City and School District. A copy of Resolution No. 36-2001, passed on October 9, 2001, acknowledges the significant contributions of Swiminc in lessening the burdens of the City by providing community recreational swimming facilities.

Operating model

Revenue model
Other-operating. 64% 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: 86
  • Transparency & Controls: 90
  • Accountability: 16
  • Sustainability: 17
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.1%; rating input score 92
  • Fundraising efficiency: Limited

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: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -11.6%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 0.15; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 7.6%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: 12.3% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 7.2% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: -1.8% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.1% of spending went to programs
  • Governance: 0 of 13 board members independent · 3 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $1.5M in reported program spending
  • Leadership: top reported pay $123K · 14 people listed
  • Consistency: 40 of 40 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.