Overview
What is Walter Schroeder Aquatic Center Ltd?
Walter Schroeder Aquatic Center Ltd is a nonprofit organization situated in Brown Deer, Wisconsin, with a specific mission to preserve and uphold the Walter Schroeder Aquatic Center (WASC) for future generations of competitive swimmers in the metropolitan Milwaukee area and the Midwest region. Their primary objective is to ensure the continued availability of this facility for aspiring aquatic athletes, fostering a competitive spirit and promoting aquatic participation in the region. With a workforce of 91 individuals, the organization is dedicated to maintaining and potentially enhancing the center's offerings, thereby paving the way for future aquatic enthusiasts in the region.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating)
Walter Schroeder Aquatic Center Ltd has received a two-star rating from Charity Navigator, indicating that the organization has room for improvement in its accountability and financial practices. The overall score is 67%, which reflects a solid performance in certain areas, such as having an entirely independent board and a commendable program expense ratio of 82.38%. However, the organization has significant gaps in transparency, with missing policies and a lack of required financial documentation on its website.
The center excels in its financial sustainability, boasting a low liabilities to assets ratio of 22.99% and a clean record in terms of material diversion of assets. These strengths suggest a commitment to utilizing funds effectively for its programs. However, the lack of proper documentation and policies, including a conflict of interest policy and a whistleblower policy, raises concerns about governance practices.
In summary, while the Walter Schroeder Aquatic Center Ltd has demonstrated effective program spending and financial health, the missing elements of transparency and governance policies hinder its overall rating. Addressing these limitations could significantly improve its standing and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Walter Schroeder Aquatic Center Ltd legitimate?
Walter Schroeder Aquatic Center Ltd is a legitimate nonprofit organization registered as a 501(c)(3) entity. Walter Schroeder Aquatic Center Ltd submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $769,300
For more financial information, click here
What is the mission statement of Walter Schroeder Aquatic Center Ltd?
The mission of Walter Schroeder Aquatic Center Ltd is centered around securing the facility for future generations of competitive swimmers in the metropolitan Milwaukee, Wisconsin, and midwest region. Their primary goal is to preserve the Walter Schroeder Aquatic Center (WASC) as a hub for competitive aquatic participation, benefiting a wide range of individuals in the region. The organization strives to ensure that WASC remains a vital resource for competitively-minded swimmers, fostering a thriving aquatic community.
Who is the CEO of Walter Schroeder Aquatic Center Ltd?
David Anderson is the President of Walter Schroeder Aquatic Center Ltd.
What is the revenue of Walter Schroeder Aquatic Center Ltd?
Walter Schroeder Aquatic Center Ltd's revenue in 2022 was $1,667,883.
Who are the executives of Walter Schroeder Aquatic Center Ltd and what are their salaries?
The average compensation at Walter Schroeder Aquatic Center Ltd during 2022 was $8,454. There are 91 employees at Walter Schroeder Aquatic Center Ltd.
Here are 5 key members and their salaries:
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Where can I find the form 990 for Walter Schroeder Aquatic Center Ltd?
Walter Schroeder Aquatic Center Ltd's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Walter Schroeder Aquatic Center Ltd
Walter Schroeder Aquatic Center Ltd is committed to ensuring the future of competitive aquatic participation for generations to come, not just in metropolitan Milwaukee, Wisconsin, but also in the Midwest region. The organization's primary mission is to safeguard the Walter Schroeder Aquatic Center (WASC), serving as a valuable resource for aspiring competitive swimmers. By securing WASC, Walter Schroeder Aquatic Center Ltd aims to foster a thriving aquatic community that will continue to inspire and nurture competitive swimmers for years to come.
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Impact
October, 2024
Walter Schroeder Aquatic Center Ltd plays a crucial role in enhancing the competitive aquatic landscape in metropolitan Milwaukee and the surrounding Midwest region. By securing the Walter Schroeder Aquatic Center, it ensures that future generations of athletes have access to high-quality facilities designed for training and competition. This impact fosters a strong aquatic community, promoting health, well-being, and competitive excellence among swimmers, divers, and water polo players.
The center serves as a hub for competitive aquatic events and training programs, creating opportunities for local talent to develop and excel. Its presence encourages participation in aquatic sports, leading to physical fitness and life skills among youth. Furthermore, by preserving this facility, the organization enhances the region's reputation as a center for sports excellence, which can attract events, tourism, and economic opportunities.
Overall, Walter Schroeder Aquatic Center Ltd contributes significantly to the vitality and sustainability of the aquatic sports environment, ensuring that the legacy of competitive swimming and aquatic activities continues to thrive for years to come.
This information is meant to be a general summary of Walter Schroeder Aquatic Center Ltd. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $32,123
- Program Service Revenue: $1,342,850
- Gross Receipts: $1,697,589
Assets and Liabilities:
- Total Assets: $2,859,013
- Total Liabilities: $657,382
- Net Assets: $2,201,631
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OTHER PROGRAM INCOME
Revenue
$530,591
SWIM & DIVE TEAM DUES
Revenue
$527,305
SWIM MEET FEES
Revenue
$166,209
WSAC HOSTED FEES
Revenue
$118,745
Organization Details
Founding Year
2007
Phone
(414) 364-0275Principal Officer
David Anderson
Main Address
9240 NORTH GREEN BAY ROAD, BROWN DEER, WI, 532091104
NTEE Category
Code: N67 - Recreation
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