Fishing For Life

Nonprofit profile at a glance

EIN
432058434
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2011, Form 990-T 2021
Location
Minneapolis, MN, USA
Phone
6129875466
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$726,344
Expenses
$687,671
Assets
$891,738
Liabilities
$55,809

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

Leadership & pay

8 people listed

Highest reported compensation

  • Thomas Goodrich (Executive Dir.): $83,451 total reported compensation
  • Laura Hudson (COO): $83,200 total reported compensation

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

Overview

Mission

Serving Youth Family & Community Through Fishing and Outdoor Programs

What it reported doing in 2024

LAKE EVENTS - provides outdoor programs for children and families of military families who were either killed in action or for other reasons cannot provide outdoor activities for their families

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

MIXED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 86
  • Accountability: 0
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.8%; rating input score 68
  • Program expense ratio: 70.9%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th 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: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5.3%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 1.3; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 24.2%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 15.1% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 11.1% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 15.7% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 67.8% of revenue deployed · 70.9% of spending went to programs
  • Governance: 0 of 8 board members independent · 0 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $488K in reported program spending
  • Leadership: top reported pay $83K · 8 people listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • Review — Sustainability: Operating margin scored 51/100.
  • 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 10/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.