Is Long Island Swimming Legit?

Long Island Swimming demonstrates a generally stable financial position with consistent revenue generation over the past decade, growing from $1.3 million in 2014 to $3.3 million in 2023. The organization has maintained positive net assets, reaching $5.08 million in 2023, indicating a healthy balance sheet. While expenses have sometimes exceeded revenue, such as in 2023 where expenses were $3,624,195 against revenue of $3,371,359, these fluctuations appear manageable within the context of its overall financial growth and asset base. The organization's liabilities have also grown, reaching $2,955,366 in 2023, which warrants monitoring relative to its assets. Spending efficiency appears reasonable, though specific program, administrative, and fundraising expense breakdowns are not provided in the summary data. However, the consistent growth in assets and revenue suggests effective management of resources to support its mission. The absence of reported officer compensation across all filings is a notable aspect of its financial structure, potentially indicating a volunteer-led or very lean executive compensation model, which can contribute to higher program spending ratios. In terms of transparency, the consistent filing of IRS Form 990s for 13 periods is a strong indicator of compliance and public accountability. The lack of reported officer compensation, while potentially positive for efficiency, could also raise questions about how leadership is structured and compensated if not through traditional officer salaries, which would require deeper investigation into the full 990 forms for clarity.