Dad Vail Regatta Organizing Committee

Nonprofit profile at a glance

EIN
232640369
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Plymouth Meeting, PA, USA
Phone
6102130939
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Amateur Sports Competitions

Official website

Reported finances

Revenue
$340,333
Expenses
$308,739
Assets
$71,500
Liabilities
$27,604

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

Leadership & pay

24 people listed

Executive titles in this filing

  • JAMES R HANNA (IMMEDIATE PAST PRESIDENT)
  • KEVIN F BACKE (VICE PRESIDENT)
  • KIRSTEN LEDWITH MORASCO (PRESIDENT)
  • PATRICK MCCANN (VICE PRESIDENT)

People named in this filing

  • ASIYA MAHMUD (MEMBER)
  • BRADEN J NEGAARD (MEMBER)
  • BRIAN BAPTISTE (MEMBER)

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

The corporation is organized exclusively for charitable, religious, educational and scientific purposes, including for such purposes, the making of distributions to organizations under section 501(c)(3) of the internal revenue code and the holding of championship events.

What it reported doing in 2024

Principal program service activities (see form 990, page 10, part ix, line 25) are:(1) corporate operations- required for year over year continuity to achieve dvroc mission objectives and purposes.(2) regatta preparation - activities required to prepare the venue for competition and for presenting an enjoyable experience for athletes, sponsors, and spectators.continued on schedule o(3) regatta competition - activities associated with registering competitors and conducting competitive racing with safety and fairness to all competitors.(4) community support - activities associated with supporting the metropolitan philadelphia rowing community.principal program service activities are executed continually throughout our fiscal year.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 41
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.4%; rating input score 90
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.3%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 0.23; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0.39; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -4.7% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: -5.6% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -7.4% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 90.4% of revenue deployed · 100% of spending went to programs
  • Governance: 24 of 24 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $309K in reported program spending
  • Leadership: top reported pay $0 · 24 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.