Charleston Regatta Inc

Nonprofit profile at a glance

EIN
874693069
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Charleston, WV, USA
Phone
3043451151
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Fairs

Official website

Reported finances

Revenue
$1,612,833
Expenses
$1,422,447
Assets
$610,468
Liabilities
$54,339

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

Leadership & pay

13 people listed

Executive titles in this filing

  • ANDY RICHARDSON (PRESIDENT)

People named in this filing

  • BRENT BURTON (VICE PRESIDE)
  • BECKY CEPERLY (EX OFFICIO D)
  • TERRELL ELLIS (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Host the annual charleston sternwheel regatta

What it reported doing in 2024

Annual festival held in charleston, wv that celebrates the history of sternwheel river boats in the region. The event, which reemerged in the summer of 2022 as the premier summer event in the area, not only spurs economic growth in the region but also brings the greater charleston community and surrounding region together for a mutli-day event.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% 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

STRONG - 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: 84
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 51
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.3%; rating input score 81
  • Program expense ratio: 92.1%; rating input score 92
  • Fundraising efficiency: $40.5 raised per $1 spent on fundraising; rating input score 74; 74th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.8%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 0.43; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 1.7% per year; rating input score 100; 25th percentile among comparable filings
  • Revenue growth: 8.3% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 30.9% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 81.3% of revenue deployed · 92.1% of spending went to programs
  • Governance: 13 of 13 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.