Valley Area Swim Team Inc in Harrisonburg, Virginia (VA)

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Valley Area Swim Team Inc
Employer Identification Number (EIN)541485658
Name of OrganizationValley Area Swim Team Inc
In Care of NameLandmark Business Solutions Inc
AddressPO BOX 984, Harrisonburg, VA 22803-0984
ActivitiesSwimming or tennis club
SubsectionEducational Organization
Ruling Date11/1992
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period08/2013
Assets$25,000 to $99,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$54,163
Amount of Income$101,293
Form 990 Revenue Amount$96,291
National Taxonomy of Exempt Entities (NTEE)Recreation, Sports, Leisure, Athletics: Swimming, Water Recreation


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Amount of income in 2013: $101,293 (it was $102,801 in 2012)
This organization: 

 $101,293
Other organizations performing similar types of work: 

 $198,434

Assets in 2013: $54,163 (it was $42,757 in 2012)
This organization: 

 $54,163
Other organizations performing similar types of work: 

 $98,183

Expenses in 2013: $84,578
Valley Area Swim Team Inc: 

 $84,578
Other organizations performing similar types of work: 

 $175,793

Income to expenses ratio in 2013: 1.2
Valley Area Swim Team Inc: 

 1.2
Other organizations performing similar types of work: 

 1.1

Grants share in income in 2013: 0.0%
Valley Area Swim Team Inc: 

 0.0%
Other organizations performing similar types of work: 

 14.2%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201120122013
Total revenue$90,863$95,648$96,291
Contributions, gifts, grants, and similar amounts received$0$0$0
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$80,288$89,574$91,034
Investment income$158$39$26
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$10,417$6,035$5,231
Gross income from gaming$0$0$0
Gross income from fundraising events$17,263$13,188$10,233
Less: direct expenses from gaming and fundraising events$6,846$7,153$5,002
Gross profit/loss from sales of inventory$0$0$0
Other revenue$0$0$0
Total expenses$105,468$83,643$84,578
Total net assets$29,564$41,569$53,282
Excess/Deficit for the year$-14,605$12,005$11,713
Net assets or fund balances at beginning of year$44,169$29,564$41,569
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$41,569$53,282
Balance Sheets
201120122013
Total assets$31,016$42,757$54,163
Total liabilities$1,452$1,188$881
Net assets or fund balances$29,564$41,569$53,282
Other Information
201120122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
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?NoNo
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?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$537,778
Subtotal$537,778
Gifts, grants, contributions, and membership fees received$470,261
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$67,517
Gross receipts from activities that are not an unrelated trade or business under section 513$0
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Less$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$537,778
Public support$537,778
Subtotal$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$0
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Us Swimming Inc, Southern Ca Swimming Inc55 Hitchcock Way Ste 211, Santa Barbara, CA 93105-5110CA2006-03$3,953,880
2Nova Of Virginia Aquatics Inc12207 Gayton Rd, Richmond, VA 23238-3219VA1989-03$3,015,139
3Stony Brook Yacht Club IncPO BOX 755, Stony Brook, NY 11790-0755NY1953-06$1,877,522
4Roanoke Valley Swimming IncPO BOX 4646, Roanoke, VA 24015-0646VA1988-04$1,822,202
5Poseidon Swimming Inc5050 Ridgedale Pkwy, N Chesterfld, VA 23234-4741VA1992-02$1,434,951
6American Canoe Association503 Sophia Street, Fredericksburg, VA 22401-6075VA1972-09$1,372,308
7Waukesha Express Swim Team IncPO BOX 1874, Waukesha, WI 53187-1874WI1981-02$1,131,659
8Saltaire Yacht Club Inc13o New Hyde Park Rd, Franklin Square, NY 11010NY1984-03$1,014,746
9Us Swimming Inc, Pacific Swimming4533 Tuolumne Way, Concord, CA 94521-4233CA2006-03$972,373
10Occoquan Swimming Inc12291 Charles Lacey Dr, Manassas, VA 20112-5903VA1989-10$968,973
11Rappahannock Area Ymca Swim Team, StingraysPO BOX 866, Stafford, VA 22555-0866VA1990-03$518,228
12Fauquier Area Swim Team Inc, Fast Aquatics Center7494 Suncrest Dr, Warrenton, VA 20187-9061VA1996-10$242,455
13Valley Area Swim Team IncPO BOX 984, Harrisonburg, VA 22803-0984VA1992-11$101,293
14Northern Virginia Nereids Synchronized Swim TeamPO BOX 1921, Springfield, VA 22151-0921VA1992-02$99,383
15Urbanna Swim Team IncPO BOX 179, Urbanna, VA 23175-0179VA1997-02$2,955
16American Volkssport Association Inc, Ava 0803 Mid Atlantic Walking Assn5605 Asbury Ct, Alexandria, VA 22312-6302VA1987-10$0
17American Volkssport Association Inc, The Bad PenniesPo Box 2393, Merrifield, VA 22116-2393VA1987-10$0
18American Volkssport Association Inc, Us Freedom Walk Festival ClubPo Box 17208, Arlington, VA 22216VA1987-10$0
19Chesapeake Captains Academy Alumni Association Inc38 Markham Dr, Hampton, VA 23669-2358VA1992-08$0
20Octopi6312 Ridgeway Rd, Richmond, VA 23226-3202VA1998-04$0
Number of organizations performing similar types of work
Alaska7
Alabama2
Arkansas2
Arizona5
California54
Colorado12
Connecticut5
Florida21
Georgia7
Hawaii5
Iowa2
Idaho3
Illinois9
Indiana18
Kansas4
Kentucky2
Louisiana5
Massachusetts15
Maryland11
Maine1
Michigan18
Minnesota8
Missouri8
Mississippi1
Montana1
North Carolina9
North Dakota2
Nebraska3
New Hampshire2
New Jersey13
New Mexico2
Nevada1
New York22
Ohio17
Oklahoma4
Oregon11
Pennsylvania16
Rhode Island5
South Carolina2
South Dakota2
Tennessee5
Texas26
Utah1
Virginia15
Vermont1
Washington12
Wisconsin14
West Virginia2
Wyoming2
Total415

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