NEWJETS INC (EIN 205956938) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

Principal Officer

MEGAN CARR

Phone

9523519928

Tax Period

2023-01-01 to 2023-12-31

NEWJETS INC, founded in 2006, is a community nonprofit in the Recreation & Sports sector that reported $1.2M in total revenue in fiscal year 2023. Expenses of $1.3M exceeded revenue, resulting in a 12% operating deficit.

Mission

AQUAJETS SWIM TEAM IS ORGANIZED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES IN THE PROMOTION OF NATIONAL AMATEUR SPORTS, MORE SPECIFICALLY TO PROVIDE A NATIONALLY-COMPETITIVE, AMATEUR YOUTH SWIM TEAM FOR THE ATHLETIC ADVANCEMENT AND ENJOYMENT OF ITS MEMBERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $20,944

Program Service Revenue $1,153,460

Investment Income $12,620

Other Revenue $0

TOTAL REVENUE $1,187,024

Expense Breakdown

Grants Paid $0

Salaries & Benefits $528,755

Fundraising Expenses $5,497

Program Expenses $1,191,800

Other Expenses $795,166

TOTAL EXPENSES $1,323,921

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,187,024	$1,129,241	+0.1%
Expenses	$1,323,921	$1,242,687	+0.1%
Net Income	$-136,897	$-113,446	+0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

150

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$145,022

Total Directors

$145,022

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATE LUNDSTEN	EXECUTIVE DIRECTOR/CHAIRPE	40.00	Officer Director	$117,516	$27,506	$145,022
BRIAN WIMBERGER	CO-PRESIDENT	1.00	Officer Director	$0	$0	$0
JOHN MARCH	DIRECTOR	1.00	Officer Director	$0	$0	$0
MEGAN CARR	CO-PRESIDENT	1.00	Officer Director	$0	$0	$0
DAN EGELAND	TREASURER	1.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$1,187,024	$1,323,921	$6,921,906	$-136,897
2022	$1,129,241	$1,242,687	$7,220,819	$-113,446
2021	$1,209,489	$1,139,517	$1,209,250	$69,972
2020	$914,636	$902,202	$1,108,533	$12,434
2019	$1,065,914	$1,059,023	$1,073,044	$6,891
2018	$1,060,580	$1,018,123	$1,008,872	$42,457

NEWJETS INC