MIAMI BEACH WATERSPORTS CENTER INC

EIN: 650592531 501(c)(3) Unknown

MIAMI BEACH, FL

Total Revenue
$953,714
Total Expenses
$989,218
Total Assets
$967,285
Net Assets
$907,049
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
FL
Principal Officer
ELAINE RODEN
Phone
3058618876
Tax Period
2024-07-01 to 2025-06-30

MIAMI BEACH WATERSPORTS CENTER INC, founded in 1995, is a small nonprofit in the Unknown sector that reported $954K in total revenue in fiscal year 2024. Revenue fell 48% from the prior year — a significant decline worth monitoring.

Mission

TO PROMOTE AMATEUR ROWING AND COMPETITION, PHYSICAL FITNESS AND WATER SAFETY TO YOUTH AND ADULTS IN THE COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $867,642 Revenue: $945,728

THE MIAMI BEACH ROWING CLUB IS ONE OF THE TOP YOUTH PROGRAMS IN THE COUNTRY, CONSISTENTLY QUALIFYING OVER THREE HUNDRED ROWERS FOR NATIONAL AND INTERNATIONAL CHAMPIONSHIPS. TRAINING AT THE STATE OF...

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THE MIAMI BEACH ROWING CLUB IS ONE OF THE TOP YOUTH PROGRAMS IN THE COUNTRY, CONSISTENTLY QUALIFYING OVER THREE HUNDRED ROWERS FOR NATIONAL AND INTERNATIONAL CHAMPIONSHIPS. TRAINING AT THE STATE OF THE ART FACILITY WITH TOP COACHES PROMOTES ROWING SKILLS, TEAM CONCEPTS, SELF-CONFIDENCE, AND TIME MANAGEMENT. OUR SUCCESSFUL PROGRAMS ALSO PROVIDE A PATHWAY TO COLLEGIATE OPPORTUNITIES. OUR ALUMNI CAN BE FOUND IN THE TOP ROWING AND ACADEMIC INSTITUTIONS ALL OVER THE COUNTRY INCLUDING HARVARD, CORNELL, PRINCETON, STANDFORD AND BOSTON UNIVERSITY. WE ARE VERY PROUD THAT ONE OF OUR FORMER ROWERS COMPETED AT THE LONDON OLYMPICS. ALL REVENUES IN EXCESS OF EXPENSES ARE RESERVED FOR ADDITIONAL PURCHASES OF EQUIPMENT THAT WILL HELP IN CONTINUING THE PROMOTION OF THESE ROWING SKILLS.

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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 $520,831
Program Service Revenue $424,897
Investment Income $7,986
Other Revenue $0
TOTAL REVENUE $953,714

Expense Breakdown

Grants Paid $0
Salaries & Benefits $433,596
Fundraising Expenses $0
Program Expenses $867,642
Other Expenses $555,622
TOTAL EXPENSES $989,218

Year-over-Year Comparison

2024 2023 Change
Revenue $953,714 $1,822,259 -0.5%
Expenses $989,218 $963,156 +0.0%
Net Income $-35,504 $859,103 -1.0%
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

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
3
Employees
14
Volunteers
54

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
$76,790
Total Directors
4
$76,790
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ELAINE RODEN PRESIDENT/CH 40.00
Officer Director
$76,790 $0 $76,790
BALWANT CHEEMA TREASURER 3.00
Officer Director
$0 $0 $0
SUSAN SHANE DIRECTOR 3.00
Director
$0 $0 $0
RONALD W SHANE CHAIRMAN EME 2.00
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 $953,714 $989,218 $967,285 $-35,504
2024 $1,822,259 $963,156 $1,009,003 $859,103
2023 $1,029,512 $977,844 $935,202 $51,668
2022 $1,082,577 $863,707 $904,875 $218,870
2021 $830,972 $889,790 $698,866 $-58,818
2020 $846,386 $985,908 $739,867 $-139,522
2019 $1,002,776 $1,065,277 $871,386 $-62,501
2018 $996,452 $1,028,768 $976,307 $-32,316
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