Red Wave Swim Team
Red Wave Swim Team: Consistent Program Spending, Declining Revenue
EIN: 222498619 · Montclair, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $1.3M |
| Total Expenses | $974K |
| Program Spending | 89% |
| CEO/Top Officer Pay | $97,414 |
| Net Assets | $222K |
| Transparency Score | 75/100 |
Is Red Wave Swim Team Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Red Wave Swim Team directs 89% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Red Wave Swim Team
Red Wave Swim Team (EIN: 222498619) is a nonprofit organization based in Montclair, NJ. The organization reported total revenue of $1.3M and total assets of $502K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Red Wave Swim Team's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Red Wave Swim Team is a mid-size nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $880K |
| Total Expenses | $974K |
| Surplus / Deficit | $-93,917 |
| Total Assets | $222K |
| Net Assets | $222K |
| Operating Margin | -10.7% |
| Months of Reserves | 2.7 months |
Financial Health Grade: C
In 2023, Red Wave Swim Team reported a deficit of $94K with expenses exceeding revenue, holds 2.7 months of operating reserves (limited).
Financial Trends
Over 13 years of filings (2011–2023), Red Wave Swim Team's revenue has grown at a compound annual growth rate (CAGR) of 6.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -2.5% | +25.9% | -29.7% |
| 2022 | +0.2% | -6.0% | +68.7% |
| 2021 | +50.9% | +23.8% | +14.1% |
| 2020 | -17.8% | -7.0% | -7.5% |
| 2019 | -5.1% | -1.6% | +6.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Red Wave Swim Team with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 89%
- fundraising: 6%
According to IRS 990 filings, Red Wave Swim Team allocates its expenses as follows: admin: 5%, programs: 89%, fundraising: 6%. With 89% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $94K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided filings, suggesting it is either minimal or included within broader administrative expenses, as total administrative costs are low (e.g., $97,414 in 2023).
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Red Wave Swim Team's IRS 990 filings:
- Revenue has shown a declining trend from $902,418 in 2022 to $880,230 in 2023.
- Net assets decreased from $315,832 in 2022 to $221,915 in 2023.
Strengths
The following positive indicators were identified for Red Wave Swim Team:
- Consistently high percentage of expenses dedicated to programs (e.g., 89% in 2023).
- Low administrative and fundraising overhead (e.g., 5% admin, 6% fundraising in 2023).
- Maintains a positive net asset position, though it has declined.
Frequently Asked Questions about Red Wave Swim Team
Is Red Wave Swim Team a legitimate charity?
Red Wave Swim Team (EIN: 222498619) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.3M. 2 red flags identified. 3 strengths noted. Financial health grade: C.
How does Red Wave Swim Team spend its money?
Red Wave Swim Team directs 89% of its spending to programs and services. Fundraising costs 6%. This exceeds the 65% industry benchmark.
Are donations to Red Wave Swim Team tax-deductible?
Red Wave Swim Team is registered as a tax-exempt nonprofit (EIN: 222498619). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Red Wave Swim Team CEO make?
Red Wave Swim Team's highest-compensated officer earns $97,414 annually. The organization reported $1.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Red Wave Swim Team's spending goes to programs?
Red Wave Swim Team directs 89% to programs, 6% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Red Wave Swim Team located?
Red Wave Swim Team is headquartered in Montclair, New Jersey and files with the IRS under EIN 222498619.
How many years of IRS 990 filings does Red Wave Swim Team have?
Red Wave Swim Team has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.3M in total revenue.
What does Red Wave Swim Team do?
Red Wave Swim Team is a nonprofit organization in the Unknown sector, located in Montclair, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Red Wave Swim Team have?
Red Wave Swim Team reported total revenue of $1,261,931. Based on 13 IRS 990 filings on record.
What are Red Wave Swim Team's total assets?
Red Wave Swim Team holds total assets of $502,124 as reported in IRS 990 filings.
Where is Red Wave Swim Team located?
Red Wave Swim Team is based in Montclair, New Jersey.
What is Red Wave Swim Team's EIN?
Red Wave Swim Team's Employer Identification Number (EIN) is 222498619. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Red Wave Swim Team?
Red Wave Swim Team is classified under NTEE code Unknown (Unknown).
Is Red Wave Swim Team a registered 501(c)(3)?
Red Wave Swim Team appears in IRS records (EIN: 222498619). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Red Wave Swim Team file IRS Form 990?
Yes, Red Wave Swim Team has 13 IRS Form 990 filings on record. The most recent covers tax period 202309.
What was Red Wave Swim Team's revenue in 2023?
In the 202309 filing period, Red Wave Swim Team reported total revenue of $880,230, total expenses of $974,147, and net assets of $221,915.
Is Red Wave Swim Team's revenue growing or declining?
Red Wave Swim Team's revenue is relatively stable. Revenue went from $902,418 (202209) to $880,230 (202309), a -2.5% change. Based on 13 filings on record.
What is Red Wave Swim Team's most recent 990 filing?
The most recent IRS Form 990 filing for Red Wave Swim Team covers tax period 202309. It shows revenue of $880,230, expenses of $974,147, total assets of $221,915, and liabilities of N/A.
How much does Red Wave Swim Team spend on programs vs administration?
Based on IRS 990 analysis, Red Wave Swim Team allocates approximately 89% of expenses to program services, 5% to administrative costs, and 6% to fundraising. This indicates strong program focus.
Is Red Wave Swim Team a trustworthy charity?
Based on AI analysis of IRS 990 data, Red Wave Swim Team appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Red Wave Swim Team?
The following concerns were identified: Revenue has shown a declining trend from $902,418 in 2022 to $880,230 in 2023.. Net assets decreased from $315,832 in 2022 to $221,915 in 2023.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Red Wave Swim Team's strengths?
Positive indicators for Red Wave Swim Team include: Consistently high percentage of expenses dedicated to programs (e.g., 89% in 2023).. Low administrative and fundraising overhead (e.g., 5% admin, 6% fundraising in 2023).. Maintains a positive net asset position, though it has declined.. These findings are derived from AI analysis of the organization's financial filings.
How does Red Wave Swim Team compensate executives?
Executive compensation is not explicitly detailed in the provided filings, suggesting it is either minimal or included within broader administrative expenses, as total administrative costs are low (e.g., $97,414 in 2023). Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What factors contributed to the significant decrease in net assets from $315,832 in 2022 to $221,915 in 2023, despite a relatively stable expense structure?
The decrease in net assets is primarily due to expenses ($974,147) exceeding revenue ($880,230) in 2023, leading to a net loss for the year.
Given the declining revenue trend, what strategies are in place to ensure long-term financial sustainability and prevent further erosion of net assets?
The provided data does not detail specific strategies, but the organization would need to focus on revenue diversification or cost containment to reverse the trend of expenses exceeding income.
Filing History
IRS 990 filing history for Red Wave Swim Team showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Red Wave Swim Team's revenue has grown by 122.5%, moving from $396K to $880K. Total assets increased by 290.7% over the same period, from $57K to $222K. Total functional expenses rose by 161.4%, from $373K to $974K. In its most recent filing year (2023), Red Wave Swim Team reported a deficit of $94K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $880K | $974K | $222K | $0 | — | — |
| 2022 | $902K | $774K | $316K | $0 | — | View 990 |
| 2021 | $901K | $823K | $187K | $0 | — | View 990 |
| 2020 | $597K | $665K | $164K | $55K | — | View 990 |
| 2019 | $726K | $715K | $177K | $0 | — | View 990 |
| 2018 | $765K | $726K | $166K | $0 | — | View 990 |
| 2017 | $541K | $537K | $128K | $0 | — | View 990 |
| 2016 | $477K | $522K | $123K | $0 | — | View 990 |
| 2015 | $572K | $478K | $168K | $0 | — | View 990 |
| 2014 | $493K | $546K | $74K | $0 | — | View 990 |
| 2013 | $477K | $410K | $127K | $0 | — | View 990 |
| 2012 | $412K | $409K | $60K | $0 | — | View 990 |
| 2011 | $396K | $373K | $57K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $880K, expenses of $974K, and assets of $222K (revenue -2.5% year-over-year).
- 2022: Revenue of $902K, expenses of $774K, and assets of $316K (revenue +0.2% year-over-year).
- 2021: Revenue of $901K, expenses of $823K, and assets of $187K (revenue +50.9% year-over-year).
- 2020: Revenue of $597K, expenses of $665K, and assets of $164K (revenue -17.8% year-over-year).
- 2019: Revenue of $726K, expenses of $715K, and assets of $177K (revenue -5.1% year-over-year).
- 2018: Revenue of $765K, expenses of $726K, and assets of $166K (revenue +41.4% year-over-year).
- 2017: Revenue of $541K, expenses of $537K, and assets of $128K (revenue +13.3% year-over-year).
- 2016: Revenue of $477K, expenses of $522K, and assets of $123K (revenue -16.5% year-over-year).
- 2015: Revenue of $572K, expenses of $478K, and assets of $168K (revenue +16.0% year-over-year).
- 2014: Revenue of $493K, expenses of $546K, and assets of $74K (revenue +3.4% year-over-year).
- 2013: Revenue of $477K, expenses of $410K, and assets of $127K (revenue +15.7% year-over-year).
- 2012: Revenue of $412K, expenses of $409K, and assets of $60K (revenue +4.2% year-over-year).
- 2011: Revenue of $396K, expenses of $373K, and assets of $57K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Red Wave Swim Team:
Data Sources and Methodology
This transparency report for Red Wave Swim Team is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.