MARLINS OF RALEIGH INC

EIN: 300050977 501(c)(3) Recreation & Sports

RALEIGH, NC

Total Revenue
$2,680,247
Total Expenses
$2,392,904
Total Assets
$1,111,284
Net Assets
$889,918
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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
2001
Legal Domicile
NC
Principal Officer
PAUL SILVER
Phone
9198513000
Tax Period
2024-09-01 to 2025-08-31

MARLINS OF RALEIGH INC, founded in 2001, is a community nonprofit in the Recreation & Sports sector that reported $2.7M in total revenue in fiscal year 2024. Expenses of $2.4M left a modest 11% surplus.

Mission

THE MARLINS OF RALEIGH OFFERS TRAINING AND PRACTICE GROUPS FOR SWIMMERS OF ALL AGES AND ABILITY LEVELS. IT IS OUR GOAL TO OFFER AGE SPECIFIC TRAINING FOR ALL OF OUR ATHLETES GEARED TOWARD CHALLENGING AND DEVELOPING EACH INDIVIDUAL TO THE BEST OF THEIR ABILITY.

Program Service Accomplishments

Program 1
Expenses: $1,959,375 Revenue: $2,258,039

OUR YEAR-ROUND COMPETITIVE PROGRAM HAS APPROXIMATELY 538 SWIMMERS WITH APPROXIMATELY 395 PARTICIPATING IN SWIM MEETS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $196,135
Program Service Revenue $2,243,233
Investment Income $15,685
Other Revenue $225,194
TOTAL REVENUE $2,680,247

Expense Breakdown

Grants Paid $0
Salaries & Benefits $891,078
Fundraising Expenses $0
Program Expenses $1,959,375
Other Expenses $1,501,826
TOTAL EXPENSES $2,392,904

Year-over-Year Comparison

2024 2023 Change
Revenue $2,680,247 $2,492,102 +0.1%
Expenses $2,392,904 $2,446,898 0.0%
Net Income $287,343 $45,204 +5.4%
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

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Governance

Voting Members
4
Independent Members
2
Employees
62
Volunteers
270

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
4
$101,495
Total Directors
4
$101,495
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAUL J SILVER PRESIDENT, EXECUTIVE DIR. 40.00
Officer Director
$98,556 $2,939 $101,495
CAROLINE SILVER SECRETARY 4.00
Officer Director
$0 $0 $0
JESSIE BLALOCK TREASURER 2.00
Officer Director
$0 $0 $0
MATTHEW SCHADE VICE PRESIDENT 2.00
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
2025 $2,680,247 $2,392,904 $1,111,284 $287,343
2024 $2,492,102 $2,446,898 $864,562 $45,204
2023 $2,245,856 $2,332,155 $880,938 $-86,299
2022 $2,258,499 $2,249,199 $1,167,052 $9,300
2021 $2,085,324 $1,864,883 $1,167,559 $220,441
2020 $1,751,382 $1,524,316 $1,005,327 $227,066
2019 $1,957,381 $1,823,071 $739,179 $134,310
2018 $1,651,791 $1,811,605 $586,282 $-159,814
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