SWIM MELBOURNE FOUNDATION (EIN 833069291) - Form 990 Financial Analysis & Trantor Score

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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

2022

Principal Officer

MIKE MIRADA

Phone

3215910112

Tax Period

2024-01-01 to 2024-12-31

SWIM MELBOURNE FOUNDATION, founded in 2022, is a micro nonprofit in the Recreation & Sports sector that reported $29K in total revenue in fiscal year 2024. Revenue fell 90% from the prior year — a significant decline worth monitoring. Expenses of $40K exceeded revenue, resulting in a 42% operating deficit.

Mission

OUR VISION IS TO BUILD A STATE-OF-THE-ART AQUATIC CENTER IN BREVARD COUNTY. FUNDS RAISED WILL BE DONATED TO SWIM MELBOURNE FOUNDATION A NON-PROFIT CHARITY FORMED TO PROMOTE THE SPORT OF SWIMMING FOR FAMILIES IN BREVARD. LOCATED IN PALM SHORES, THE AQUATIC CENTER WILL INCLUDE A 10-LANE COMPETITION POOL AND A 3-LANE TEACHING POOL. THE COMPETITION POOL WILL BE THE TRAINING FACILITY FOR THE SWIM MELBOURNE MAHI AGE GROUP AND MASTERS TEAMS, WITH A GOAL TO GROW THE MAHI INTO NATIONAL CLASS PROGRAMS. THE TEACHING POOL WILL ATTRACT YOUNG FAMILIES FOR SWIM LESSONS, AND HOST ADULT FITNESS, WATER AEROBICS, REHABILITATION, AND TRIATHLON TRAINING.

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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 $28,600

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $28,600

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $11,732

Program Expenses $14,383

Other Expenses $40,498

TOTAL EXPENSES $40,498

Year-over-Year Comparison

	2024	2023	Change
Revenue	$28,600	$299,637	-0.9%
Expenses	$40,498	$8,973	+3.5%
Net Income	$-11,898	$290,664	-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

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

N/A

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
RICHARD CAVANAH	BOARD MEMBER	N/A	Officer	$0	$0	$0
BRUCE GRAHAM JR	BOARD MEMBER	N/A	Officer	$0	$0	$0
MIKE MIRADA	PRESIDENT	N/A	Officer	$0	$0	$0
MARK MOHLER	BOARD MEMBER	N/A	Officer	$0	$0	$0
JOHN WALSH	BOARD MEMBER	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
2024	$28,600	$40,498	$769,757	$-11,898
2023	$299,637	$8,973	$781,655	$290,664
2022	$192,241	$6,843	$490,991	$185,398
2021	$298,918	$5,967	$296,822	$292,951

SWIM MELBOURNE FOUNDATION