SURF INDUSTRY MEMBERS ASSOCIATION

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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

1989

Legal Domicile

Principal Officer

VIPE DESAI

Phone

9493661164

Tax Period

2024-01-01 to 2024-12-31

SURF INDUSTRY MEMBERS ASSOCIATION, founded in 1989, is a small nonprofit that reported $240K in total revenue in fiscal year 2024. Revenue fell 25% from the prior year — a significant decline worth monitoring. Expenses of $269K exceeded revenue, resulting in a 12% operating deficit.

Mission

THE SURF INDUSTRY MANUFACTURES ASSOCIATION (SIMA) IS THE TRADE ASSOCIATION OF COMPETING SURF INDUSTRY PRODUCT SUPPLIES WORKING TOGETHER TO MAGNIFY THEIR POWER FOR THE DEVELOPMENT OF THE SURF INDUSTRY

Program Service Accomplishments

Program 1

TRADE SHOWS - SIMA ACTIVELY EVALUATES AND ENDORSES SURF INDUSTRY TRADE SHOWS THAT MOST EFFECTIVELY BRING PRODUCTS TO MARKET. SIMA SUPPORTS AND ENCOURAGES THE INDUSTRY TO EXHIBIT AT THE ANNUAL SURF...

TRADE SHOWS - SIMA ACTIVELY EVALUATES AND ENDORSES SURF INDUSTRY TRADE SHOWS THAT MOST EFFECTIVELY BRING PRODUCTS TO MARKET. SIMA SUPPORTS AND ENCOURAGES THE INDUSTRY TO EXHIBIT AT THE ANNUAL SURF EXPO SHOW. MEMBERS MAY USE THIS CENTER DURING SHOW HOURS FOR MEETING, COPYING, AND FAXING.

Program 2

THE SURF SUMMIT IS DESIGNED TO PROVIDE EDUCATIONAL PROGRAMS AND MARKET RESEARCH IN ORDER TO PREPARE ITS MEMBERS TO GROW THEIR BUSINESS AND CONTRIBUTE TO THE OVERALL GROWTH AND HEALTH OF THE INDUSTRY. TOPICS HAVE RANGED FROM YOUTH TRENDS SPECIFIC ANALYSIS OF EMERGING MARKETS, ALL THOROUGHLY EXAMINED AND ADDRESSED BY AN IMPRESSIVE LINEUP OF EXPERTS FROM BOTH WITHIN AND OUTSIDE OF THE INDUSTRY.

Program 3

BEGINNING IN 2004, SIMA HAS CONDUCTED THE SURF INDUSTRY'S RETAIL DISTRIBUTION STUDY EVERY TWO YEARS. THE SIMA RETAIL DISTRIBUTION STUDIES CONTAIN THE MOST IN-DEPTH AND RELEVANT INFORMATION THAT WILL HELP MEMBERS TO BETTER UNDERSTAND THE CURRENT RETAIL LANDSCAPE AND MONITOR RETAIL SALES TRENDS IN THE U.S. SURF AND SKATE INDUSTRY. THE REPORTS INCLUDE OVERALL SURF AND SKATE INDUSTRY DATA AND STATISTICS COVERING AREAS SUCH AS DOLLAR SIZE OF THE MARKETS, UNIT SALES, REGIONAL AND CHANNEL DIFFERENCES, AND COMPARATIVE SALES TRENDS. THE DATA HAS PROVEN TO BE OF ENORMOUS USE TO ALL MEMBERS, FROM BOARD BUILDERS TO THE LARGEST INTERNATIONAL APPAREL COMPANIES ALIK.

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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 $103,436

Program Service Revenue $136,528

Investment Income $0

Other Revenue $0

TOTAL REVENUE $239,964

Expense Breakdown

Grants Paid $0

Salaries & Benefits $158,612

Fundraising Expenses $0

Other Expenses $110,183

TOTAL EXPENSES $268,795

Year-over-Year Comparison

	2024	2023	Change
Revenue	$239,964	$318,793	-0.2%
Expenses	$268,795	$385,240	-0.3%
Net Income	$-28,831	$-66,447	-0.6%

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
KELLY GIBSON	PRESIDENT/CE	N/A	Officer Director	$0	$0	$0
JOHN WILSON	VP/SECRETARY	N/A	Officer Director	$0	$0	$0
JOHNNY GEHRIS	TREASURER/CF	N/A	Officer Director	$0	$0	$0
BILL BETTENCOURT	DIRECTOR	N/A	Director	$0	$0	$0
ERIC CRANE	DIRECTOR	N/A	Director	$0	$0	$0
RYAN HITZEL	DIRECTOR	N/A	Director	$0	$0	$0
TED LI	DIRECTOR	N/A	Director	$0	$0	$0
DAN MCINERNY	DIRECTOR	N/A	Director	$0	$0	$0
KEVIN MEEHAN	DIRECTOR	N/A	Director	$0	$0	$0
SHANNON NORTH	DIRECTOR	N/A	Director	$0	$0	$0
VICKI REDDING	DIRECTOR	N/A	Director	$0	$0	$0
KELLY GIBSON	DIRECTOR	N/A	Director	$0	$0	$0
VIPE DESAI	EXECUTIVE DI	N/A	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
2025	No data	No data	No data	No data
2024	$239,964	$268,795	$21,046	$-28,831
2023	$318,793	$385,240	$34,154	$-66,447
2022	$214,615	$278,545	$96,861	$-63,930
2021	$147,604	$209,260	$289,386	$-61,656
2020	$270,409	$330,788	$263,518	$-60,379
2019	$431,401	$565,837	$169,470	$-134,436
2018	$560,449	$665,941	$317,700	$-105,492