United States Synchronized Swimming Foundation Inc

What it reported doing in 2024

2024 Program AccomplishmentsIn 2024, the USA Artistic Swimming Foundation proudly advanced its mission to support and strengthen the sport of artistic swimming across the nation. Through strategic funding, grants, and collaborative initiatives, we provided meaningful resources to athletes, coaches, and programs at every level of competition.National Team Support: The Foundation continued its vital support of USA Artistic Swimmings national team programs, ensuring athletes had access to world-class training, facilities, and competition opportunities. These funds helped cover essential needs such as coaching, athlete development, international travel, and performance preparation for the Olympic Games. We also gave USA Artistic Swimming an additional grant in order to provide the necessary funds for our Olympic Team to travel and compete at the 2024 Olympic Games, which resulted in a silver medal and made history for the sport. By investing in the national teams, we are helping athletes reach their highest potential on the world stage while inspiring the next generation of swimmers.Development and Growth Programs: Beyond elite competition, the Foundation invested in the future of the sport by funding grassroots and developmental initiatives. This included grants to collegiate artistic swimming programs, enabling student-athletes to continue their passion for the sport while pursuing academic excellence. Additional funding supported training and certification programs for officials and coaches, elevating the overall standard of professionalism, safety, and excellence within the sport nationwide.Community and Organizational Impact: Through these efforts, the Foundation strengthened the artistic swimming community, broadened access to participation, and created a sustainable foundation for long-term success. Each dollar contributed by our donors directly impacts the athletes and leaders shaping the future of artistic swimming in the United States.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 74.5%; rating input score 75
• Fundraising efficiency: $3.94 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.3%; rating input score 93; 26th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 92.9%; rating input score 93; 25th percentile among comparable filings
• Governance controls: 5 of 7 controls in place; rating input score 71
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • 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: 4.5%; rating input score 49; 49th percentile among comparable filings
• Total-asset coverage ratio: 10.32; rating input score 90; 90th percentile among comparable filings
• Liabilities to assets ratio: 0.02; rating input score 41; 41st percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

• Program expense growth: 14.2% per year; rating input score 100; 78th percentile among comparable filings
• Revenue growth: 9.2% per year; rating input score 100; 70th percentile among comparable filings
• Asset growth: 4.1% per year; rating input score 100; 43rd percentile among comparable filings