SWIM CAROLINAS

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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

2016

Legal Domicile

Principal Officer

DOUG SHEAFOR

Phone

7047961192

Tax Period

2024-01-01 to 2024-12-31

SWIM CAROLINAS, founded in 2016, is a micro nonprofit in the Recreation & Sports sector that reported $78K in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Expenses of $112K exceeded revenue, resulting in a 43% operating deficit.

Mission

TO DEVELOP SWIMMERS TO REACH THEIR SWIMMING POTENTIAL & EMPOWER THEM TO BECOME COMMUNITY LEADERS.

Program Service Accomplishments

Program 1

Expenses: $95,143 Revenue: $75,965

SWIM CAROLINAS PROVIDED 1157 HOURS OF SWIM LESSONS S IN 2024. OF THOSE, 50 HOURS OF SWIM LESSONS WERE FREE OR AT A REDUCED COST TO SERVE LOWER INCOME FAMILIES. IN ADDITION, COACHES SERVED AS...

SWIM CAROLINAS PROVIDED 1157 HOURS OF SWIM LESSONS S IN 2024. OF THOSE, 50 HOURS OF SWIM LESSONS WERE FREE OR AT A REDUCED COST TO SERVE LOWER INCOME FAMILIES. IN ADDITION, COACHES SERVED AS VOLUNTEERS FOR USA SWIMMING. THERE WERE NO SWIM TEAM, TRIATHLON, OR WATER AEROBICS EVENTS IN 2024.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $75,965

Investment Income $2,184

Other Revenue $0

TOTAL REVENUE $78,149

Expense Breakdown

Grants Paid $0

Salaries & Benefits $47,626

Fundraising Expenses $810

Program Expenses $95,143

Other Expenses $64,005

TOTAL EXPENSES $111,631

Year-over-Year Comparison

	2024	2023	Change
Revenue	$78,149	$83,435	-0.1%
Expenses	$111,631	$70,236	+0.6%
Net Income	$-33,482	$13,199	-3.5%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEEDE TURNER	BOARD MEMBER	1.00	Director	$0	$0	$0
HEIDI BERNARD	BOARD MEMBER	1.00	Director	$0	$0	$0
DOUG SHEAFOR	PRESIDENT	1.00	Officer	$0	$0	$0
ALAINA HOOVER	TREASURER	1.00	Officer	$0	$0	$0
MICHAEL MILLER	SECRETARY	1.00	Officer	$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	$78,149	$111,631	$225,224	$-33,482
2023	$83,435	$70,236	$253,254	$13,199
2022	$98,602	$41,182	$240,016	$57,420
2021	$262,697	$316,887	$182,608	$-54,190
2020	$287,620	$355,090	$236,851	$-67,470
2019	$554,690	$396,836	$304,346	$157,854
2018	$352,478	$309,199	$147,612	$43,279