USA Swimming Releases 2023 Form 990 With Modest Increase In Net Assets, Revenue ...Middle East

By James Sutherland on SwimSwam USA Swimming released its Form 990 for the 2023 fiscal year on Friday, showing increases in both net assets and total revenue compared to the year prior. While it uses the same financials as USA Swimming’s annual audit, the Form 990 has different reporting requirements, most notably relating to investment income. The annual audit simply verifies the accuracy of USA Swimming’s final statements, while the Form 990 is a specific tax form filed by non-profit organizations to the IRS, along with donors and the public at large. The biggest difference between the two in terms of the numbers is that the Form 990 doesn’t take into account “unrealized” investment gains,

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