Skip to content
Nonprofiteer
← USA SWIMMING FOUNDATION

Form 990 for tax year 2023

Filed by USA SWIMMING FOUNDATION.

Totals

Total revenue
$3,927,267
Total expenses
$4,113,825
Contributions and grants received
$2,318,029
Grants paid
$2,329,579
Program service revenue
$954,830
Investment income
$366,287
Other revenue
$288,121
Total assets, end of year
$22,935,804
Total liabilities, end of year
$1,012,557
Net assets or fund balances, end of year
$21,923,247
Program services expenses (Part IX)
$3,208,404
Management and general expenses
$270,862
Fundraising expenses
$634,559
Program service expenses (Part III)
$3,208,404

Program services were 78.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $292,290

  • 1f · All other contributions, gifts and grants

    $2,025,739

  • 1g · Noncash contributions included above

    $223,063

  • 2a · Program service revenue: SPONSORSHIPS

    total $898,098 · related or exempt $898,098

  • 2b · Program service revenue: SPONSORSHIPS - APPAREL INKIND

    total $50,014 · related or exempt $50,014

  • 2c · Program service revenue: OTHER PROGRAM REVENUE

    total $6,718 · related or exempt $6,718

  • 3 · Investment income

    total $472,961 · excluded $472,961

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $276,393 · related or exempt $276,393

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $2,836,247

  • 7b · Less cost or other basis and sales expenses

    securities $2,942,921

  • 7c · Gain or loss

    securities -$106,674

  • 7d · Net gain or loss

    total -$106,674 · excluded -$106,674

  • 8a · Fundraising events: gross income

    $222,424

  • 8a · Fundraising events: contributions included on line 1c

    $292,290

  • 8b · Fundraising events: direct expenses

    $210,696

  • 8c · Net income from fundraising events

    total $11,728 · excluded $11,728

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,329,579 · program services $2,329,579

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $63,500 · program services $63,500

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $770,000 · program services $370,508 · management and general $42,022 · fundraising $357,470

  • 11b · Fees: legal

    total $17,028 · management and general $17,028

  • 11c · Fees: accounting

    total $16,478 · management and general $16,478

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $38,500 · fundraising $38,500

  • 11f · Fees: investment management

    total $38,100 · management and general $38,100

  • 11g · Fees: other

    total $96,434 · program services $30,168 · management and general $66,266

  • 12 · Advertising and promotion

    total $288 · management and general $288

  • 13 · Office expenses

    total $84,054 · program services $11,721 · management and general $25,734 · fundraising $46,599

  • 14 · Information technology

    total $1,681 · program services $559 · management and general $627 · fundraising $495

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $452,851 · program services $279,955 · management and general $32,367 · fundraising $140,529

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: RECOGNITION AWARDS & FULFILLME

    total $113,037 · program services $62,103 · management and general $10,792 · fundraising $40,142

  • 24b · Other expenses: GEAR, EQUIPMENT, & APPAREL

    total $79,690 · program services $59,534 · management and general $10,531 · fundraising $9,625

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $12,605 · program services $777 · management and general $10,629 · fundraising $1,199

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,446,652 · end of year $2,101,872

  • 2 · Savings and temporary cash investments

    beginning of year $9,679 · end of year $9,767

  • 3 · Pledges and grants receivable

    beginning of year $1,549,978 · end of year $1,520,631

  • 4 · Accounts receivable

    beginning of year $231,964 · end of year $232,429

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,838 · end of year $251,602

  • 10a · Land, buildings and equipment: cost or other basis

    $223,876

  • 10b · Land, buildings and equipment: accumulated depreciation

    $223,876

  • 11 · Investments: publicly traded securities

    beginning of year $16,462,974 · end of year $18,699,503

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $120,000 · end of year $120,000

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,690 · end of year $17,027

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $50,900 · end of year $436,168

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $60,339 · end of year $559,362

  • 27 · Net assets without donor restrictions

    beginning of year $12,057,009 · end of year $13,442,501

  • 28 · Net assets with donor restrictions

    beginning of year $7,638,147 · end of year $8,480,746

Mission and programs · 2023

Mission

ESTABLISHED IN 2004, THE USA SWIMMING FOUNDATION WORKS TO STRENGTHEN THE SPORT OF SWIMMING BY SAVING LIVES, BUILDING CHAMPIONS, AND IMPACTING COMMUNITIES. CONTINUED, SEE SCHEDULE O.

Activities or mission (Part I)

THE USA SWIMMING FOUNDATION WORKS TO STRENGTHEN THE SPORT OF SWIMMING BY SAVING LIVES, BUILDING CHAMPIONS, AND IMPACTING COMMUNITIES.

  • Saving Lives - Learn-to-Swim Initiative: USA Swimming and the USA Swimming Foundation believe that the best defense against drowning is empowering children and adults with the life-saving skill of swimming and education on how to be safer around the water. Continued, see Schedule O.

    Expenses $1,373,828 · Grants $808,579 · Revenue $954,830

  • Building Champions - The United States is one of few countries that do not provide government funding for its Olympic-level athletes. National Team swimmers maintain a rigorous and demanding training and travel schedule; therefore, most professional swimmers do not have time to maintain traditional employment. Continued, see Schedule O.

    Expenses $1,516,076 · Grants $1,202,500

  • Impacting Communities: The USA Swimming Foundation focuses on investing in three impactful programs to increase access and opportunities for underrepresented communities: Community Impact Grants, Historically Black Colleges and Universities (HBCU) Grants and Community Swim Teams. Through the Community Impact Grant program, USA Swimming aims to grow a diverse community of champion athletes. Continued, see Schedule O.

    Expenses $318,500 · Grants $318,500 · Revenue $276,393

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • TIMOTHY HINCHEY

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $962,555
    From this org
    $0
    From related orgs
    $895,205
    Other
    $67,350
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $690,205 related
    Bonus
    $0 + $196,000 related
    Other
    $0 + $9,000 related
    Deferred
    not reported + $33,000 related
    Nontaxable benefits
    not reported + $34,350 related
    Filer's total
    $0 + $962,555 related

  • ERIC SKUFCA

    CHIEF FINANCIAL OFFICER

    Total calculated
    $360,992
    From this org
    $0
    From related orgs
    $299,055
    Other
    $61,937
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $248,055 related
    Bonus
    $0 + $51,000 related
    Other
    $0
    Deferred
    not reported + $30,600 related
    Nontaxable benefits
    not reported + $31,337 related
    Filer's total
    $0 + $360,992 related

  • CULLEN JONES

    DIRECTOR

    Total calculated
    $34,000
    From this org
    $34,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • ELIZABETH BEISEL

    SECRETARY

    Total calculated
    $29,500
    From this org
    $29,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • JEFF MOXIE

    DIRECTOR (To 11/2023)

    Total calculated
    $0
    Hours/week
    4

  • DAVID SHACKLEY

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    4

  • ANNE BERRY

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    4

  • DAVID WIEDERECHT

    DIRECTOR (To 11/2023)

    Total calculated
    $0
    Hours/week
    4

  • ALEX BLAVATNIK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • JILL BORNSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • CYNTHIA EUBANKS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • DAWSON HUGHES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • JAY DEFINIS

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • GREG PINCHBECK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • JON KOSSOW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • TIM BUCKLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Kimberly Chen Bock

    Director (from 11/2023)

    Total calculated
    $0
    Hours/week
    4

  • Dan Clough

    Director

    Total calculated
    $0
    Hours/week
    4

  • John Enquist

    Director

    Total calculated
    $0
    Hours/week
    4

  • Kelley Gay

    Director (from 11/2023)

    Total calculated
    $0
    Hours/week
    4

  • Heather Glass

    Director (from 11/2023)

    Total calculated
    $0
    Hours/week
    4

  • Kyle Jackson

    Director

    Total calculated
    $0
    Hours/week
    4

  • Mary Wayte Bradburne

    Director (FROM 09/2023)

    Total calculated
    $0
    Hours/week
    4

  • Andrew Wilson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3:
Related organization compensation policy the HUMAN RESOURCE DEPARTMENT of usa swimming, a related organization, REVIEWS SALARY SURVEYS AND DATA FROM OTHER NATIONAL GOVERNING BODIES TO determine compensation, AND recommends COMPENSATION adjustments FOR OFFICERS AND OTHER KEY EMPLOYEES. officer and employee compensation is reviewed and approved by the board during the annual budgeting process.
SCHEDULE J, PART I, LINE 1-3, PART II
USA SWIMMING FOUNDATION (FDN) CONTRACTED WITH THE RELATED ORGANIZATION USA SWIMMING (USAS), FOR THE USE OF FACILITIES AND CONTRACTED STAFF SERVICES FOR ACCOUNTING, FINANCE, COMMUNICATIONS, CREATIVE, AND HUMAN RESOURCES. SINCE USAS AND FDN ARE RELATED ORGANIZATIONS, ALL THE COMPENSATION PAID DURING THE 2023 CALENDAR YEAR TO INDIVIDUALS SERVING AS OFFICERS OF THE FDN, WHO WERE EMPLOYED BY USAS, HAVE BEEN DETAILED OUT ON FORM 990, PART VII, SECTION A. THE FOLLOWING INDIVIDUALS SERVED THE FDN DURING THE 2023 CALENDAR YEAR AS OFFICERS, WITHIN A CONTRACTED SERVICE ARRANGEMENT: TIMOTHY HINCHEY, CEO, AND ERIC SKUFCA, CFO. SIMILAR TO PRIOR YEARS, USAS CONTRIBUTED BACK TO THE FDN A PORTION OF THE TIME COST OF CONTRACTED STAFF SERVICES, AS AN INKIND CONTRIBUTION OF SERVICES. INKIND (NONFINANCIAL ASSETS) CONTRIBUTIONS ARE EXCLUDED FROM THE FORM 990, PER IRS INSTRUCTIONS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202413129349301946

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.