Cedar Valley Sports and Entertainment Commission

Nonprofit profile at a glance

EIN
201825070
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Waterloo, IA, USA
Phone
3194935371
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$176,785
Expenses
$182,732
Assets
$77,468
Liabilities
$339

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Ashley Johnson (Executive Director)
  • Sheila Kittleson (President)
  • Kelly Nicholson (Vice President)

Highest reported compensation

  • Ashley Johnson (Executive Director): $59,828 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To attract, create, and support sports and entertainment programs that have a positive impact on the economy and qualify of life of residents of the Cedar Valley.

What it reported doing in 2024

The Cedar Valley Sports and Entertainment Commission exists to attract, create, and support sports and entertainment programs that have a positive impact on the economy and quality of life of the entire Cedar Valley.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 41
  • Transparency & Controls: 76
  • Accountability: 63
  • Sustainability: 28
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.5%; rating input score 50
  • Program expense ratio: 40%; rating input score 40
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 9th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 61.6%; rating input score 62; 44th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: -3.4%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: 32.7%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.2% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 21.1% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 50.5% of revenue deployed · 40% of spending went to programs
  • Governance: 10 of 10 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $73K in reported program spending
  • Leadership: top reported pay $60K · 10 people listed
  • Consistency: 40 of 41 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules · includes grants
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 50/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 40/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.