Lakemont Swim Club Inc in Raleigh, North Carolina (NC)

Lakemont Swim Club Inc
Employer Identification Number (EIN)	560843555
Name of Organization	Lakemont Swim Club Inc
Address	PO BOX 18183, Raleigh, NC 27619-8183
Activities	Other recreational activities
Subsection	Pleasure, Recreational, or Social Club
Ruling Date	07/1965
Deductibility	Contributions are not deductible
Foundation	All organizations except 501(c)(3)
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	09/2013
Assets	$100,000 to $499,999
Income	$100,000 to $499,999
Filing Requirement	990 (all other) or 990EZ return
Asset Amount	$256,756
Amount of Income	$103,004
Form 990 Revenue Amount	$98,449

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Financial snapshot ($)

Revenue for 2013

	2011	2012	2013
Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue	$107,704	$105,005	$98,449
Contributions, gifts, grants, and similar amounts received	$3,250	$1,443	$1,421
Program service revenue including government fees and contracts	$0	$0	$0
Membership dues and assessments	$99,122	$99,122	$85,134
Investment income	$192	$112	$67
Gain/Loss from sale of assets other than inventory	$0	$0	$0
Net income/loss from gaming and fundraising events	$0	$0	$0
Gross profit/loss from sales of inventory	$2,278	$2,998	$11,777
Gross sales of inventory, less returns and allowances	$8,633	$10,250	$16,332
Less: cost of goods sold	$6,355	$7,252	$4,555
Other revenue	$2,862	$1,330	$50
Total expenses	$87,354	$94,530	$99,404
Total net assets	$143,365	$148,473	$173,648
Excess/Deficit for the year	$20,350	$10,475	$-954
Net assets or fund balances at beginning of year	$123,015	$137,998	$174,602
Other changes in net assets or fund balances	$0	$0	$0
Net assets or fund balances at end of year		$153,840	$147,518

	2011	2012	2013
Balance Sheets
Total assets	$246,236	$257,727	$256,756
Total liabilities	$102,871	$109,254	$83,107
Net assets or fund balances	$143,365	$148,473	$173,648

	2011	2012	2013
Other Information
Did the organization engage in any significant activity not previously reported to the IRS?		No	No
Were any significant changes made to the organizing or governing documents?		No	No
Did the organization have unrelated business gross income of $1,000 or more during the year from business activities	No	No	No
Has the organization filed a Form 990-T for the year?		No	No
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?		No	No
Amount of political expenditures, direct or indirect		$0	$0
Did the organization file Form 1120-POL for this year?		No	No
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?		No	No
Total amount involved		$0	$0
Initiation fees and capital contributions	$0	$0	$0
Gross receipts for public use of club facilities	$0	$0	$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?		No	No
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?		No	No

Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:	Not provided
Number of organizations supported	0
Sum of amounts of support	$0

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