Is Seacoast Swim Club Legit?

Seacoast Swim Club demonstrates consistent financial health with a positive net income in most recent years. In 2023, the organization reported revenues of $94,969 against expenses of $85,525, resulting in a surplus. This trend of revenue exceeding expenses is largely consistent, with notable exceptions in 2018 and 2021 where expenses slightly outpaced revenue. The organization's assets have shown steady growth, increasing from $53,687 in 2014 to $122,085 in 2023, indicating sound financial management and accumulation of resources. Liabilities have been consistently reported as $0 in most filings, suggesting a strong balance sheet and minimal debt burden, which is a positive indicator of financial stability. The organization's spending efficiency appears strong, as evidenced by its consistent ability to operate within its means and build assets. The absence of reported officer compensation across all available filings suggests that leadership may be volunteer-based or compensated through other means not captured in this specific field, which can contribute to lower administrative overhead. However, without a detailed breakdown of program, administrative, and fundraising expenses, a precise assessment of spending efficiency across these categories is limited. The consistent filing of IRS Form 990s over 14 periods demonstrates a commitment to regulatory compliance and basic financial transparency. Overall, Seacoast Swim Club appears to be a financially stable organization with a history of responsible asset management and consistent operations. The lack of reported liabilities and the growth in assets are strong positive indicators. Further transparency regarding the allocation of expenses into program, administrative, and fundraising categories would provide a more comprehensive understanding of its operational efficiency and impact.