Tyler Tennis & Swim Club Inc

Nonprofit profile at a glance

EIN
751225470
IRS 990-EZ coverage
2023–2023
Forms available
Form 990 2022, Form 990-EZ 2023
Location
Tyler, TX, USA
Phone
9364431110
Rating confidence
Limited

Reported finances

Revenue
$1,256
Expenses
$1,043,856
Assets
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • GARY OLIVE (President)

People named in this filing

  • PENNY SPELLMAN (Treasurer)
  • GREG ENSEY (Director)
  • GARY OLIVE (President)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

This organization was formed in 1965 to provide a quality tennis facility to enable members and their families to compete in tennis competition at all levels with instruction provided by tennis professionals and quality tennis courts for practice and recreation, quality swimming facility for recreation and swim lessons for members and their families. However in 2014 it was determined that the facilities were in dire need of updating and funding was not available to fulfill this need. The stockholders voted to sell the real estate property to another tennis and swim organization with a stipulation that funds would be reimbursed to the current company if certain criteria are not met in a seven year period after the contract was signed. Therefore, this corporation will need to remain active for the remaining contract period estimated to be the end of 2023. Dissolution is complete.

What it reported doing in 2023

Local tennis and swim club serving approximately 215 families through club memberships, however, since selling the club real estate property to another tennis and swim club, this corporation will remain active until the end of the seven year contract period as agreed upon with the new buyer. This corporation has no current income activity and the only expenses are upkeep until the end of the seven year contract period which ended 12-31-2023.all funds are distributed per guidelines and dissolution is complete.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 82
  • Sustainability: 7
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -83,009.6%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -42% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -1.9% per year; rating input score 0; 32nd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 4 of 4 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • 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 — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.