Colorado Dragon Boat Aka Colorado Dragon Boat Festival

Nonprofit profile at a glance

EIN
841601703
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Wheat Ridge, CO, USA
Phone
3039537277
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Fairs

Official website

Reported finances

Revenue
$885,973
Expenses
$685,366
Assets
$882,602
Liabilities
$47,864

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • SARA MOORE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SARA MOORE (EXECUTIVE DIRECTOR): $103,958 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The annual dragon boat and film festival is a cultural event celebrating Colorado's asian-pacific american presence and history, featuring dragon boat festivities, asian movies and other cultural attractions.

What it reported doing in 2023

The annual dragon boat festival is a cultural event celebrating Colorado's asian-pacific american presence and history, featuring dragon boat festivities and other cultural attractions.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 86
  • Accountability: 90
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.8%; rating input score 76
  • Program expense ratio: 90.9%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 22.6%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 1.29; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 15.2%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 5.4% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 15.5% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 75.8% of revenue deployed · 90.9% of spending went to programs
  • Governance: 14 of 14 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $623K in reported program spending
  • Leadership: top reported pay $104K · 13 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 12 filing years from 2010 to 2023
  • 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.