The main objective of this case study is to understand how organizational values of a family business are influenced – or are the outcome of – the interactions between the controlling family, their employees, and the social context by which they are surrounded. To investigate this topic a case study research design was applied and a family-owned and -managed Aquatic Center was selected as the company in focus. First, the organizational values were determined through the application of semi-structured interviews and observations. The units of analysis for the case study were the Top Management Team (TMT) and the employees of the organization. The former is composed by three members of the controlling family and the latter by the employees who are in most contact with the TMT and the clients of the Aquatic Center. After the Thematic Analysis of the empirical data eight organizational values were identified. These organizational values, along with excerpts from the interview, were analyzed from a Neo-Institutionalist lens and three meaning systems were identified to be influencing the organization and its structures. These three meaning systems were labeled as (1) Swimming the Sport; (2) Health Club Business; and (3) The Owning Family. The set of rules, enforcement mechanisms, and effects that these three meaning systems have on the overall organization were also defined.