Overview
What is Tyler Tennis & Swim Club Inc?
Tyler Tennis & Swim Club Inc, established in 1965, has served as a high-quality tennis and swimming facility for its members and their families. The club aimed to provide an environment for tennis competitions at various levels with professional instruction and top-notch tennis courts. Additionally, it offered a recreational swimming facility and swim lessons for members. However, in 2014, the facilities were found to be in dire need of updates, but funding was unavailable. Consequently, the stockholders decided to sell the real estate property to another tennis and swim organization, with a condition that funds would be reimbursed if certain criteria were not met within a seven-year period. The corporation remains active until this contract period ends, estimated to be around 2023.
Is Tyler Tennis & Swim Club Inc legitimate?
Tyler Tennis & Swim Club Inc is a legitimate nonprofit organization registered as a 501(c)(7) entity. Tyler Tennis & Swim Club Inc 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: $0
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What is the mission statement of Tyler Tennis & Swim Club Inc?
The Tyler Tennis & Swim Club Inc, established in 1965, was initially formed to provide a high-quality tennis facility for its members and their families. This included hosting tennis competitions at various levels, with professional instruction available. Additionally, the club offered quality tennis courts for practice and recreation, as well as a swimming facility for relaxation and swim lessons. However, by 2014, it was recognized that the facilities required significant updates, but funding was not available. As a result, the stockholders decided to sell the real estate property to another tennis and swim organization. The sale came with a stipulation that funds would be reimbursed to the current company if certain criteria were not met within a seven-year period following the contract's signing. Consequently, the Tyler Tennis & Swim Club Inc must remain active until the end of 2023, as per the contract's estimated duration.
Who is the CEO of Tyler Tennis & Swim Club Inc?
Gary Olive is the President of Tyler Tennis & Swim Club Inc.
What is the revenue of Tyler Tennis & Swim Club Inc?
Tyler Tennis & Swim Club Inc's revenue in 2022 was $755.
Who are the executives of Tyler Tennis & Swim Club Inc and what are their salaries?
Here are 4 key members and their salaries:
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Where can I find the form 990 for Tyler Tennis & Swim Club Inc?
Tyler Tennis & Swim Club Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Tyler Tennis & Swim Club Inc
Tyler Tennis & Swim Club Inc was established in 1965 with a mission to provide its members and their families with an exceptional tennis facility, enabling them to participate in tennis competitions at various levels. The organization also offered instruction from tennis professionals and high-quality tennis courts for practice and recreation. In addition, the club featured a top-notch swimming facility for recreation and swim lessons for members and their families.
However, by 2014, it became apparent that the facilities required significant updates. Unfortunately, the necessary funding was not available. As a result, the stockholders decided to sell the real estate property to another tennis and swim organization. The sale came with a stipulation that funds would be reimbursed to the current company if certain criteria were not met within a seven-year period following the contract signing. Consequently, Tyler Tennis & Swim Club Inc must remain active for the remaining contract period, estimated to conclude around 2023. Despite the sale, the club continues to uphold its original mission of offering quality tennis and swimming facilities for its members and their families.
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Impact
October, 2024
Tyler Tennis & Swim Club Inc has made a significant impact on the local community in Tyler, Texas, serving approximately 215 families through its memberships since its establishment in 1965. By providing quality tennis and swimming facilities, the club has offered opportunities for members and their families to engage in competitive tennis and recreational swimming. Instruction by tennis professionals has been an integral part of the club's mission, promoting skill development and fostering a love for the sport.
However, in 2014, the club faced challenges as its facilities required substantial updates, and the necessary funding was unavailable. As a result, the stockholders made the strategic decision to sell the real estate property to another tennis and swim organization. This decision was made with the stipulation that if certain criteria are not met within a seven-year period after the sale, funds would be reimbursed to the current company.
Throughout this transition, Tyler Tennis & Swim Club Inc remains active until the end of this contract period, projected to conclude at the end of 2023. Even though the club no longer generates income and primarily incurs maintenance expenses, its commitment to serving the community and providing a foundation for tennis and swim activities persists.
The legacy of the club continues as it navigates these changes, demonstrating resilience and dedication to enhancing the recreational opportunities available to families in the Tyler area.
This information is meant to be a general summary of Tyler Tennis & Swim Club Inc. 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: $755
- Gross Receipts: $755
Assets and Liabilities:
- Total Assets: $1,185,058
- Total Liabilities: $0
- Net Assets: $1,185,058
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Organization Details
Founding Year
1965
Phone
(903) 561-3014Principal Officer
Gary Olive
Main Address
2801 WEXFORD DR 703, TYLER, TX, 75709
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