Flashes Aquatics Inc

Nonprofit profile at a glance

EIN
562452897
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
3178502032
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Swimming & Other Water Recreation

Official website

Reported finances

Revenue
$448,871
Expenses
$395,037
Assets
$218,794
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Travis Cox (President)
  • Matt Jeffries (Vice President)

People named in this filing

  • Travis Cox (President)
  • Matt Jeffries (Vice President)
  • Phil Beckman (Treasurer)

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

Flashes Aquatics is committed to developing athletes who achieve their highest potential technically, physically, and mentally while emphasizing strength in character, sportsmanship, and a life-long love of swimming.

What it reported doing in 2024

Swim Lessons: Lessons are offered 2 days per weekfor 30 to 45 minutes in April, May, June, September, October, November and December. We serve 300 children each year in the lesson program. The program teaches water safety first and stroke technique. The program develops swimmers for joing the swim club

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 76% for direct work, 0% for grants, and 24% for member benefits.

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: 80
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.9%; rating input score 86
  • Program expense ratio: 97.6%; rating input score 98
  • 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: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • 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: 12%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 0.55; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 18.2% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: 14% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 85.9% of revenue deployed · 97.6% of spending went to programs
  • Governance: 5 of 5 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $386K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • 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: 5 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.