Wahoo Aquatic Club Inc

Nonprofit profile at a glance

EIN
822435128
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Charleston, SC, USA
Phone
8473027832
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Official website

Reported finances

Revenue
$762,072
Expenses
$781,870
Assets
$157,253
Liabilities
$71,737

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

Leadership & pay

4 people listed

Executive titles in this filing

  • Kelly Murphy (Vice President)
  • MIKE KOLWALSKI (President)

People named in this filing

  • CHANDLER SHAW (Secretary)
  • Kelly Murphy (Vice President)
  • MIKE KOLWALSKI (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. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To instill a life-long love of swimming and to build a program of excellence in training, team unity, character development and family support where every swimmer has the opportunity to achieve their potential and compete at the highest level.

What it reported doing in 2024

The wahoo aquatic club is a year-round swim team that is committed to the development of the whole child. Through highly engaged coaches and a positive environment, we provide opportunity for each swimmer to reach his or her potential. As with many sports, our team will focus on stroke technique, physical readiness and mental preparation. But the wahoo approach will also address parallels between obstacles in swimming and those outside the pool; how to plan for and achieve success; and how to navigate failure.

Operating model

Revenue model
Other-operating. 100% 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 46
  • Transparency & Controls: 100
  • Accountability: 70
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.1%; rating input score 52
  • Program expense ratio: 50.8%; rating input score 51
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • 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: -2.6%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0.2; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0.46; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 9.8% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 13% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 45.6% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 52.1% of revenue deployed · 50.8% of spending went to programs
  • Governance: 4 of 4 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $397K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2018 to 2024
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • Review — Financial Efficiency: Program expense ratio scored 51/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 29/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.