Fox Valley Wave Swim Team Incorporated

Nonprofit profile at a glance

EIN
391910940
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2011
Location
Neenah, WI, USA
Phone
9204502558
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Swimming & Other Water Recreation

Official website

Reported finances

Revenue
$432,977
Expenses
$450,719
Assets
$40,466
Liabilities
$15,178

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

Leadership & pay

4 people listed

Executive titles in this filing

  • Matt Barnes (President)
  • Katie Loken (Vice President)

People named in this filing

  • Matt Barnes (President)
  • Lori Klister (Treasurer)
  • Katie Loken (Vice President)

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

Fox Valley Wave Swim Team is a registered USA swimming, year-round, competitive swim team. The organization provides opportunities for children to grow, develop, mature and succeed. Swimmers will learn discipline, teamwork and leadership in the sport of swimming. The goal of the organization's program is to train swimmers to swim well and explore their full potential to achieve excellence in their life.

What it reported doing in 2024

To teach area youth how to swim and compete which includes but is not limited to the rental of facilities, coaching and all other expenses related to the program.

Operating model

Revenue model
Other-operating. 95% of the money available for current operations came from other operating 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

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 26
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.6%; rating input score 97
  • 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: 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4.1%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 0.09; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 20% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 5.4% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: -6.6% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.6% of spending went to programs
  • Governance: 6 of 6 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $435K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2012 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: 4 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.