Overview
What is Lakeside Aquatic Club?
Lakeside Aquatic Club is a nonprofit organization situated in the Flower Mound, Texas area, specifically at PO Box 270289. Its primary focus is providing structured swimming programs and training for approximately 900 athletes, primarily in the Denton and Tarrant County areas of North Texas. The club offers professional coaching and consistent pool access, aligning with its mission. The membership dues are reasonably priced, considering the benefits received. The nonprofit currently employs 62 individuals to support its mission and activities.
Official website here: www.swimlac.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Lakeside Aquatic Club holds a two-star rating from Charity Navigator, with an overall score of 69%. While the organization demonstrates strong governance with 100% of its board members being independent, it falls short in several key accountability and transparency areas. The lack of financial statements and missing policies, such as conflict of interest and whistleblower protections, raise concerns about its operational integrity.
Despite these shortcomings, the club shows a commendable commitment to its programs, with a program expense ratio of 98.69%, indicating that almost all of its resources are directed towards its mission-related activities. Additionally, it has a low liabilities to assets ratio, suggesting a stable financial position. However, the absence of essential documentation and policies may hinder its overall effectiveness and public trust.
To improve its rating and organizational standing, Lakeside Aquatic Club should prioritize establishing necessary policies and ensuring transparency through the publication of financial statements and tax forms on its website. Addressing these issues could significantly enhance its accountability and public perception, ultimately benefiting its mission and community impact.
This AI summary has been generated from information found on Charity Navigator.
Is Lakeside Aquatic Club legitimate?
Lakeside Aquatic Club is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lakeside Aquatic Club 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: $1,272,766
For more financial information, click here
Official website here: www.swimlac.org
What is the mission statement of Lakeside Aquatic Club?
The Lakeside Aquatic Club is dedicated to offering structured swimming programs and training for approximately 900 athletes, primarily in the Denton and Tarrant County areas of North Texas. Their mission is to provide a conducive environment for youth swimmers, offering professional coaching and consistent pool access, aligning with their organizational objectives. The membership fees are reasonably priced, considering the benefits derived from the program.
Official website here: www.swimlac.org
Who is the CEO of Lakeside Aquatic Club?
Mark Lucas is the President of Lakeside Aquatic Club.
Official website here: www.swimlac.org
What is the revenue of Lakeside Aquatic Club?
Lakeside Aquatic Club's revenue in 2022 was $2,759,695.
Official website here: www.swimlac.org
Who are the executives of Lakeside Aquatic Club and what are their salaries?
The average compensation at Lakeside Aquatic Club during 2022 was $20,528. There are 62 employees and 800 volunteers at Lakeside Aquatic Club.
Here are 8 key members and their salaries:
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Official website here: www.swimlac.org
Where can I find the form 990 for Lakeside Aquatic Club?
Lakeside Aquatic Club's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.swimlac.org
Learn more at the official website: www.swimlac.org
Mission Statement of Lakeside Aquatic Club
Lakeside Aquatic Club, a nonprofit organization, is committed to providing structured youth swimming programs and training for approximately 900 athletes primarily in the Denton and Tarrant County areas of North Texas. Their mission is to offer these athletes professional coaching and consistent pool access, ensuring the benefits received are proportionate to the membership dues. The club strives to provide an environment that fosters growth and development in swimming, serving as a crucial platform for these young athletes to hone their skills and reach their potential.
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Impact
July, 2024
Lakeside Aquatic Club plays a significant role in the community by providing structured youth swimming programs and training for around 900 athletes in the Denton and Tarrant County areas of North Texas. With professional coaching and access to pool facilities, the club offers a valuable opportunity for young swimmers to develop their skills and pursue their passion for swimming. The impact of Lakeside Aquatic Club extends beyond just recreation, fostering talent and promoting a healthy lifestyle among the youth in the region.
This information is meant to be a general summary of Lakeside Aquatic Club. 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: $419
- Program Service Revenue: $2,583,173
- Gross Receipts: $2,765,718
Assets and Liabilities:
- Total Assets: $1,073,156
- Total Liabilities: $93,038
- Net Assets: $980,118
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
YOUTH SWIMMING & TRAINING
Revenue
$2,257,625
HOSTED SWIM MEETS
Revenue
$342,081
FEE WRITE-OFF
Revenue
-$4,285
DUES CREDITS
Revenue
-$12,248
Organization Details
Founding Year
1982
Phone
(469) 444-0712Principal Officer
Mark Lucas
Main Address
PO BOX 270189, FLOWER MOUND, TX, 75029
Website
www.swimlac.orgNTEE Category
Code: N67Z - Recreation
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