Carolina Rapids Soccer Club

Nonprofit profile at a glance

EIN
611556757
IRS 990 coverage
2009–2019
Forms available
Form 990 2019
Location
Cornelius, NC, USA
Phone
7048949995
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Services

Official website

Reported finances

Revenue
$2,793,044
Expenses
$2,157,778
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Thomas Finlay (Executive Director)
  • Skip Notte (Vice President)

Highest reported compensation

  • Thomas Finlay (Executive Director): $154,095 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Form 990 - Organization's MissionTo provide members of our community the opportunity to participate in, support and enjoy the sport of soccer through an offering of quality programs that refect our core values, teach life lessons and are open to all ages and abilities.

What it reported doing in 2019

The association formed a total of 436 recreational and competitive soccer teams for approximately 3400 youth and adults.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 97% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 86
  • Accountability: 58
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.4%; rating input score 74
  • Program expense ratio: 96.5%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 71st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 20th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 22.7%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 7.1%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 11.1% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 11.3% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 10.5% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 74.4% of revenue deployed · 96.5% of spending went to programs
  • Governance: 9 of 10 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.1M in reported program spending
  • Leadership: top reported pay $154K · 10 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 9 filing years from 2009 to 2019
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.