USA Swimming Foundation Inc

Nonprofit profile at a glance

EIN
721581977
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Colorado Springs, CO, USA
Phone
7198664578
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$6,386,245
Expenses
$4,595,149
Assets
$23,928,461
Liabilities
$82,710

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

Leadership & pay

23 people listed

Executive titles in this filing

  • TIMOTHY HINCHEY (CEO (to 08/2024))
  • Shana Ferguson (INTERIM CEO (from 8/2024))

Highest reported compensation

  • TIMOTHY HINCHEY (CEO (to 08/2024)): $1,051,489 total reported compensation
  • Shana Ferguson (INTERIM CEO (from 8/2024)): $477,650 total reported compensation
  • ERIC SKUFCA (CHIEF FINANCIAL OFFICER): $401,204 total reported compensation

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

Overview

Mission

Established in 2004, the USA swimming foundation works to strengthen the sport of swimming by saving lives, building champions, and impacting communities whether providing grant funding to members of our lesson provider network, supporting the dreams of national team members, or growing the sport in traditionally underserved populations, the foundation is proud to serve as the philanthropic arm of USA swimming. Swimming is the only sport that can save a life, and our work is critical towards making the sport an equitable space.

What it reported doing in 2024

Impacting Communities - Expand Competitive Opportunities: the USA Swimming Foundation focuses on investing in three impactful programs to increase access and opportunities to our sport for underrepresented communities: Community Impact Grants, Historically Black Colleges and Universities (HBCU) Grants and Community Swim Teams. Through the Community Impact Grant program, USA Swimming aims to grow a diverse community of champion athletes by creating competitive opportunities within diverse communities. Grant dollars are utilized for learn-to-swim programming, scholarships, technology, equipment and administrative support. By investing in Historically Black Colleges and Universities (HBCU), we aim to revitalize aquatic programming within these diverse communities by supporting new water safety education and competitive opportunities. Grant dollars are utilized for learn-to-swim programming, club travel expenses, technology and equipment and administrative support. Community Swim Teams partner with municipal and recreational departments throughout the U.S. to provide athletes with USA Swimming membership resources and competitions. These partnerships also offer municipal coaches access to education, professional development and introduce a new diverse population of families, athletes and coaches to USA Swimming. LINE 4D, PROGRAM SERVICE ------------------------ Alumni Legacy: The USA Swimming Foundation sustains a network of National Team alumni from the 1940's to present who are passionate about giving back to the sport that gave so much to them. Alumni events are held biannually to celebrate successes and share updates about the USA Swimming Foundation. This group of former athletes are incredible stewards of the sport and continue to give back in various ways.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 70% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 55
  • Accountability: 100
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.7%; rating input score 76
  • Program expense ratio: 70.4%; rating input score 70
  • Fundraising efficiency: $3.14 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 81.3%; rating input score 81; 22nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 28%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 5.21; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 4.7%; rating input score 55; 55th percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 3.7% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 75.7% of revenue deployed · 70.4% of spending went to programs
  • Governance: 19 of 19 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $3.2M in reported program spending
  • Leadership: top reported pay $1.1M · 23 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $850K reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 46 filed money-flow records
  • Related organizations: 46 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 9/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 55/100.