NSEASWIM

EIN: 833450312 501(c)(3) Public Safety

Wilmington, NC

Total Revenue
$490,765
Total Expenses
$787,787
Total Assets
$464,333
Net Assets
$127,713
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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
2000
Legal Domicile
NC
Principal Officer
Matthew Derry
Tax Period
2024-01-01 to 2024-12-31

NSEASWIM, founded in 2000, is a small nonprofit in the Public Safety sector that reported $491K in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $788K exceeded revenue, resulting in a 61% operating deficit.

Mission

NSEA Swim is a 501(c)3 nonprofit in Wilmington, NC, that aims to increase water safety and prevent drowning in our community. We also wish to increase multicultural, ethnic, and socioeconomic diversity in the sport of swimming with an inclusive environment at all levels of the sport. Our goal is to build a sport community where participants can work and learn together in a safe, supportive environment. We are committed to our mission of increasing multicultural, ethnic, and socioeconomic diversity in the sport of swimming by fostering an inclusive environment. To reach this goal, we pledge to reduce the disparities existing in aquatics today, advocate for social justice in our local community, and partner with local agencies and representatives to achieve equitable resources in our community. We believe the color of a persons skin should never stand in the way of learning to swim and being safe around water.

Program Service Accomplishments

Program 1
Expenses: $293,089 Revenue: $305,494

Operation of the Earl Jackson Pool in downtown Wilmington, NC including providing no cost community swim lessons

Program 2
Expenses: $181,967 Revenue: $185,217

Operation of the NSEA Sea Devils competitive swim team servicing the tri county area

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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 $0
Program Service Revenue $490,765
Investment Income $0
Other Revenue $0
TOTAL REVENUE $490,765

Expense Breakdown

Grants Paid $0
Salaries & Benefits $277,979
Fundraising Expenses $0
Program Expenses $475,056
Other Expenses $509,808
TOTAL EXPENSES $787,787

Year-over-Year Comparison

2024 2023 Change
Revenue $490,765 $451,995 +0.1%
Expenses $787,787 $402,319 +1.0%
Net Income $-297,022 $49,676 -7.0%
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

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Governance

Voting Members
9
Independent Members
9
Employees
44
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
4
$65,142
Total Directors
4
$11,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Charmaine Lewis Vice President 5.00
Officer
$0 $0 $0
David Witmer President 10.00
Officer
$0 $0 $0
Matthew Derry Treasurer 10.00
Officer
$0 $0 $0
Jamie Mayo Member at large 10.00
Director
$0 $0 $0
Andrew Harrison Assistant Coach 15.00
Director
$11,000 $0 $11,000
Jon-Paul Merchant Head Coach 40.00
Officer
$65,142 $0 $65,142
Melissa Blair Secretary 2.00
Director
$0 $0 $0
Jeffery Eder Member at large 2.00
Director
$0 $0 $0
Donald Williams Member at large 1.00
$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 $490,765 $787,787 $464,333 $-297,022
2024 No data No data No data No data
2023 $451,995 $402,319 $472,675 $49,676
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