CAROLINA AQUATIC TEAM

EIN: 571135280 501(c)(3) Recreation & Sports

DURHAM, NC

Total Revenue
$553,241
Total Expenses
$563,013
Total Assets
$167,810
Net Assets
$167,810
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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
2002
Legal Domicile
NC
Principal Officer
MATT SCHONWALDER
Phone
9199064525
Tax Period
2023-08-01 to 2024-07-31

CAROLINA AQUATIC TEAM, founded in 2002, is a small nonprofit in the Recreation & Sports sector that reported $553K in total revenue in fiscal year 2023.

Mission

FOSTER AMATEUR SWIMMING COMPETITION

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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 (2023)

Revenue Breakdown

Contributions & Grants $5,840
Program Service Revenue $547,250
Investment Income $151
Other Revenue $0
TOTAL REVENUE $553,241

Expense Breakdown

Grants Paid $0
Salaries & Benefits $225,883
Fundraising Expenses $0
Program Expenses $563,013
Other Expenses $337,130
TOTAL EXPENSES $563,013

Year-over-Year Comparison

2023 2022 Change
Revenue $553,241 $549,096 +0.0%
Expenses $563,013 $451,545 +0.2%
Net Income $-9,772 $97,551 -1.1%
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
2
Independent Members
2
Employees
12
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
2
$51,130
Total Directors
2
$51,130
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSH WEAVER VICE PRESIDE 40.00
Officer Director
$51,130 $0 $51,130
MATT SCHONWALDER PRESIDENT N/A
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 $553,241 $563,013 $167,810 $-9,772
2023 $549,096 $451,545 $177,582 $97,551
2022 $445,530 $417,703 $89,851 $27,827
2021 $338,660 $372,354 $52,204 $-33,694
2020 $332,561 $363,187 $85,898 $-30,626
2019 $519,849 $483,926 $116,524 $35,923
2018 $490,623 $529,350 $93,812 $-38,727
2017 $409,143 $427,706 $119,328 $-18,563
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