USA Swimming released its annual “State of the Sport” update for 2022 on Wednesday, outlining what the organization has accomplished over the past year and where it will be headed.
The report, which is in the form of an open letter from the President and CEO Tim Hincheydocuments USA Swimming’s finances and how they are used, the various projects and changes the organization has implemented, and what we can expect in the future.
Hinchey notes that the “Keeping Athletes First” plan announced in 2019 has become a mantra for the organization and the “starting point for every strategic decision we make.”
Keep the athletes 𝓕𝓘𝓡𝓢𝓣.
— USA Swimming (@USASwimming) September 21, 2022
Thanks to “extreme cost-cutting measures” due to the unexpected five-year quadruple caused by the pandemic, USA Swimming reports an operating surplus of $1.8 million in 2021 after “strategically and carefully” navigating the cycle Tokyo Olympics.
The organization also notes that it partnered with the USA Swimming Foundation to distribute $3 million to member clubs during the Tokyo Quad.
In a chart displaying the organization’s financial surplus/deficit over the last quad, along with forecasts for the rest of it, USA Swimming shows a net deficit of approximately $3 million in 2019 ahead of approaching a $3 million surplus in 2020 before the aforementioned $1.8 million surplus in 2021.
It is expected that there will again be a deficit in the range of $3 million in the pre-Olympic year 2023 before returning to equilibrium, with the potential to be slightly up or down. , in 2024.
A second graph shows how USA Swimming attributes income to the investments it makes. The breakdown is as follows:
- Membership – 62%
- USOPC – 15%
- Partnership Marketing – 13%
- Other income – 10%
- National team – 25%
- Insurance, technology, business operations – 21%
- Sports development – 16%
- Event operations – 16%
- Partnerships, marketing, communications – 16%
- International development – 6%
The report also outlines the digital transformation the organization has undergone this year.
The changes made by USA Swimming this year in this regard are as follows:
- SWIMS 3.0 Database Upgrade
- Coach education
- Officials Tracking System
- US swimming app
- USA Swimming Website Updates
The newly renovated SWIMS database will be launched tomorrow!
Click below to access FAQs, resources, updates, steps to create your new member account and more.
— USA Swimming (@USASwimming) August 31, 2022
“We hadn’t made significant updates to our information technology and data architecture in over 20 years, and we had to stop making temporary fixes,” Hinchey said.
“Rather than keep fixing pipes and building additions to our home, we realized we had to tear it down to the studs and rebuild it. Building this legacy project hasn’t been easy, but it will reap great rewards for data security and usability, as well as accessibility to training and certification.
There was also a tease of a new streaming platform, or something similar, coming soon.
“You’ll experience a new way to watch USA Swimming over the coming year, making it easier for you to find, create, and enjoy all the sport-related content. Expect an official announcement in the coming weeks.
OTHER ITEMS TO NOTE
- USA Swimming earned the highest compliance score in all categories among National Governing Bodies (NGBs) in a comprehensive audit conducted by the United States Olympic and Paralympic Committee. Each NGB was assessed on athlete protection and rights, governance and compliance, financial standards and reporting, athletic performance and operational performance.
- Two new committees were created this year, the Athlete Advisory Council (AAC) and the Coaches Advisory Council (CAC).
- The organization has partnered with USA Track & Field to integrate a global sales agency to generate new sponsorship revenue.
- The USA Swimming Foundation awarded a total of $2.33 million to youth swim lesson providers ($802,000), adult swim lesson providers ($130,000), USA Swimming member clubs ( $268,000) and the United States National Swim Team ($1,130,000). These numbers include Learn to Swim Grants, Community Impact Grants, and Donor Athlete Partnership Program funding.
Read the full report here.