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Nonprofit · EIN 42-0927410

WATERHAWKS

Tax-exempt · WATERLOO, IA 50704

Financials

$163K$125K2023$150K$89K2024
Revenue Expenses · by fiscal year end
Financials of WATERHAWKS by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
September 30, 2025990$150,492$88,704$61,788$536,210$123,204$413,006
September 30, 2024990$163,054$124,581$38,473$509,085$157,867$351,218
Financial details: 990 for the year ended September 30, 2025

Revenue

Contributions, gifts and grants
$4,115
Program service revenue
$25,492
Investment income
$32,286
Net income from fundraising events
$72,634
Net income from gaming
$9,943
Net income from sales of inventory
$6,022
Other revenue
$88,599

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Accounting fees
$1,250
Occupancy
$8,739
Depreciation
$14,533
Program services (functional)
$68,429
Management and general (functional)
$20,275

Balance sheet and other

Total assets, start of year
$509,085
Total assets, end of year
$536,210
Total liabilities, end of year
$123,204
Net assets, end of year
$413,006
Land, buildings and equipment
$497,854
Net assets without donor restrictions
$413,006
Gross receipts
$167,350
Employees
0
Volunteers
150
Year formed
1958
State of legal domicile
IA

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 September 30, 2025, highest compensation first.

NameTitleHours / weekCompensation
MARILYN SCHMITZPresident
Trustee or director
10$0
STEVE FORSSBERGFUNDRAISING DIR
Trustee or director
2$0
KEEGAN ULRICHSHOW BUS MGR
Trustee or director
2$0
LARRY MEANYTreasurer
Trustee or director
10$0
JAKE DOUGHERTYMASTER-AT-ARMS
Trustee or director
2$0
PAT COOKTOURNAMENT DIR
Trustee or director
2$0
EMILY FORSSBERGFUNDRAISING DIR
Trustee or director
2$0
LIV NASUTIONPUBLICITY DIR
Trustee or director
2$0
LEXIE HEATHMEMBERSHIP DIR
Trustee or director
2$0
MOLLI WELLMANSecretary
Trustee or director
2$0
DEREK DEZARNVice President
Trustee or director
2$0
TERRY WALENSAFETY DIR
Trustee or director
2$0
CJ SCHMITZSHOW TOURN.DIR.
Trustee or director
2$0
KAELYNN CLARKYOUTH DIR.
Trustee or director
2$0
JOE SCHMITZFIRST BOARD
Trustee or director
2$0
2 more people on this return
NameTitleHours / weekCompensation
MIKE WELLMANTreasurer
Trustee or director
2$0
KODY MCCRACKENSHOW DIRECTOR
Trustee or director
2$0
990 for the year ended September 30, 2024: 15 people
NameTitleHours / weekCompensation
MARILYN SCHMITZPresident
Trustee or director
1$0
STEVE FORSSBERGFUNDRAISING DIR
Trustee or director
1$0
RACHEL DEZARNSecretary
Trustee or director
1$0
LARRY MEANYTreasurer
Trustee or director
1$0
JAKE DOUGHERTYMASTER-AT-ARMS
Trustee or director
1$0
PAT COOKTOURNAMENT DIR
Trustee or director
1$0
EMILY FORSSBERGFUNDRAISING DIR
Trustee or director
1$0
RACHEL CLAYBERGSHOW BUS. MGR.
Trustee or director
1$0
LEXIE HEATHACTIVITIES DIR
Trustee or director
1$0
NATE CLAYBERGPUBLICITY DIR.
Trustee or director
1$0
DEREK DEZARNVice President
Trustee or director
1$0
TERRY WALENSAFETY DIR
Trustee or director
1$0
CJ SCHMITZSHOW DIR.
Trustee or director
1$0
KAELYNN CLARKYOUTH DIR.
Trustee or director
1$0
JOE SCHMITZFIRST BOARD
Trustee or director
1$0

Address and contacts

Address (IRS master file)
PO BOX 112, WATERLOO, IA 50704-0112
In care of
% BOB MANNING COMMODORE
Signed the 990
MARILYN SCHMITZ, President
Phone
(319) 233-0525
Return prepared by
Scott & Cronin LLP

Mission

WATERHAWKS WATER SKI TEAM TO EDUCATE CLUB MEMBERS, AS WELL AS THE GENERAL PUBLIC, ON TECHNIQUES, RULES, REGULATIONS AND SAFETY IN THE SPORT OF WATER-SKIING. BY PROMOTING OUR ALTERNATIVE ACTIVITIES IN THE COMMUNITY, WE HOPE TO INFLUENCE FUTURE GENERATIONS OF WATER-SKIERS BY FOSTERING RELATIONSHIPS FOCUSED ON COACHING, MENTORING, TEAMWORK, COOPERATION, AND LEADERSHIP IN THE FAMILY ENVIRONMENT.

990 for the year ended September 30, 2025

Program accomplishments

  • PROMOTING THE SPORT OF WATERSKIING THROUGH WATERSKI INSTRUCTION AND HOSTING EVENTS FOR THE GENERAL PUBLIC, INCLUDING EVENTS DESIGNED FOR THE DISABLED, HANDICAPPED AND DISADVANTAGED.
    Expenses $43,299
  • HOSTING EVENTS FOR COMMUNITY ENTERTAINMENT, INCLUDING PERFORMNCE SHOWS, TOURNAMENTS AND OTHER COMPETITIONS.
    Expenses $25,130

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 September, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025September 30, 2026February 15, 2027Not due yet
2024September 30, 2025February 16, 2026990 on file
2023September 30, 2024February 17, 2025990 on file

IRS record

EIN
42-0927410
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
2014
Accounting year ends
September
Files
Form 990 or 990-EZ
Assets (IRS master file)
$536,210
Income (IRS master file)
$167,350

Filing history

FormYear endedRevenueExpensesAssetsReturn
990September 2025$150,492$88,704$536,210XML
990September 2024$163,054$124,581$509,085XML
990September 2023$169,965$128,492$397,726IRS
990-EZSeptember 2022–––IRS
990-EZSeptember 2021–––IRS
990-EZSeptember 2020–––IRS
990-EZSeptember 2019–––IRS
990-EZSeptember 2018–––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 42-0927410).

Questions about WATERHAWKS

What is the EIN of WATERHAWKS?
The employer identification number (EIN) of WATERHAWKS is 42-0927410.
Is WATERHAWKS tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2014.
Are donations to WATERHAWKS tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does WATERHAWKS 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 WATERHAWKS due?
The return for tax year 2025 (the year ending September 30, 2026) is due February 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did WATERHAWKS last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended September 2025.
Who are the officers and directors of WATERHAWKS?
The 990 for the year ended September 30, 2025 lists 17 people; 0 received compensation from the organization.
How much revenue does WATERHAWKS have?
On its 990 for the year ended September 30, 2025 it reported revenue of $150,492, expenses of $88,704 and total assets of $536,210 at year end.

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