Nonprofit · EIN 20-5956938
NEWJETS INC
Tax-exempt · EDEN PRAIRIE, MN 55344
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,327,316 | $1,407,332 | -$80,016 | $6,668,366 | $6,230,225 | $438,141 |
| December 31, 2023 | 990 | $1,187,024 | $1,323,921 | -$136,897 | $6,921,906 | $6,403,749 | $518,157 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $6,110
- Program service revenue
- $1,278,926
- Investment income
- $42,280
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $149,450
- Other salaries and wages
- $370,367
- Salaries, compensation and benefits (total)
- $560,164
- Professional fundraising fees
- $0
- Accounting fees
- $9,749
- Occupancy
- $389,198
- Travel
- $22,150
- Depreciation
- $41,106
- Program services (functional)
- $1,265,524
- Management and general (functional)
- $136,024
- Fundraising (functional)
- $5,784
Balance sheet and other
- Total assets, start of year
- $6,921,906
- Total assets, end of year
- $6,668,366
- Total liabilities, end of year
- $6,230,225
- Net assets, end of year
- $438,141
- Land, buildings and equipment
- $261,315
- Net assets without donor restrictions
- $438,141
- Gross receipts
- $1,327,316
- Employees
- 39
- Volunteers
- 100
- Year formed
- 2006
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KATE LUNDSTEN | EXECUTIVE DIRECTOR/CHAIRPE Trustee or director, Officer | 40 | $121,375 | $28,075 |
| BRIAN WIMBERGER | CO-PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| MEGAN CARR | CO-PRESIDENT Trustee or director, Officer | 2 | $0 | $0 |
| DAN EGELAND | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| JOHN MARCH | DIRECTOR Trustee or director, Officer | 2 | $0 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KATE LUNDSTEN | EXECUTIVE DIRECTOR/CHAIRPE Trustee or director, Officer | 40 | $117,516 | $27,506 |
| BRIAN WIMBERGER | CO-PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| JOHN MARCH | DIRECTOR Trustee or director, Officer | 1 | $0 | $0 |
| MEGAN CARR | CO-PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| DAN EGELAND | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 6545 FLYING CLOUD DR STE 202, EDEN PRAIRIE, MN 55344-3356
- In care of
- % STEVEN M FOSTER
- Principal officer (990 for 2024)
- MEGAN CARR, 6545 FLYING CLOUD DR SUITE 202, EDEN PRAIRIE, MN 55345
- Signed the 990
- MEGAN CARR, CO-PRESIDENT
- Phone
- (952) 351-9928
- Website
- WWW.AQUAJETS.COM
- Return prepared by
- SMITH SCHAFER & ASSOCIATES LTD
Mission
AQUAJETS SWIM TEAM IS ORGANIZED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES IN THE PROMOTION OF NATIONAL AMATEUR SPORTS, MORE SPECIFICALLY TO PROVIDE A NATIONALLY-COMPETITIVE, AMATEUR YOUTH SWIM TEAM FOR THE ATHLETIC ADVANCEMENT AND ENJOYMENT OF ITS MEMBERS.
Program accomplishments
- THE ORGANIZATION PROVIDES PROFESSIONAL COACHING TO COMPETITIVE YOUTH, AMATEUR SWIMMERS.Expenses $893,828 · revenue $805,601
- THE TEAM HOSTS SWIM MEETS SANCTIONED BY MINNESOTA SWIMMING.Expenses $234,483 · revenue $405,796
- THE TEAM OFFERS DRYLAND TRAINING TO THE SWIMMERS.Expenses $137,213 · revenue $67,529
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 20-5956938
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2007
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Recreation and sports (N70)
- Assets (IRS master file)
- $6,668,366
- Income (IRS master file)
- $1,327,316
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,327,316 | $1,407,332 | $6,668,366 | IRS |
| 990 | December 2023 | $1,187,024 | $1,323,921 | $6,921,906 | XML |
| 990 | December 2022 | $1,129,241 | $1,242,687 | $7,220,819 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-5956938).
Questions about NEWJETS INC
- What is the EIN of NEWJETS INC?
- The employer identification number (EIN) of NEWJETS INC is 20-5956938.
- Is NEWJETS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
- Are donations to NEWJETS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NEWJETS INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NEWJETS INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEWJETS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of NEWJETS INC?
- The 990 for the year ended December 31, 2024 names MEGAN CARR.
- Who are the officers and directors of NEWJETS INC?
- The 990 for the year ended December 31, 2024 lists 5 people; 1 received compensation from the organization, the highest $121,375 (KATE LUNDSTEN, EXECUTIVE DIRECTOR/CHAIRPE).
- How much revenue does NEWJETS INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,327,316, expenses of $1,407,332 and total assets of $6,668,366 at year end.
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All nonprofits in EDEN PRAIRIE · Minnesota · Recreation and sports