Lakeshore Swim Club Corp

Analysis

Lakeshore Swim Club Corp is a registered charity in United States, based in Rocky River, OH. It received its IRS tax-exemption ruling in December 1999, 27 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Lakeshore Swim Club Corp reported income of $360k and spending of $344k, spending 96% of its income. Across the 5 years on record, from August 2019 to July 2023, income grew from $231k to $360k (+56%), an average of +12% a year. The sharpest change came in the year to August 2021, when income rose by 77%. Over the whole period it spent 97% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Lakeshore Swim Club Corp sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within OH. Charities of a similar size with the same main cause include Festival of Light Inc ($359k), Cny Snow Travelers Inc ($360k) and PWC Hockey Club ($359k).

On its Form 990 for the period ending July 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $60k (17% of expenses). Other salaries and wages came to $51k. At year end it held assets of $113k against liabilities of $8,951, net assets of $104k. It reported 15 employees.