Golden Knights Corporation

Nonprofit profile at a glance

EIN
203794571
IRS 990 coverage
2009–2013
Forms available
Form 990 2013
Location
Orlando, FL, USA
Phone
4078232351
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Leadership Development

Official website

Reported finances

Revenue
$14,457,213
Expenses
$14,372,799
Assets
$59,528,024
Liabilities
$54,742,684

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • DAVID ALBERTSON (PRESIDENT)

Highest reported compensation

  • WILLIAM MERCK (SECRETARY/TREASURER): $311,581 total reported compensation
  • ROBERT HOLMES (CHAIR): $300,129 total reported compensation
  • RICK SCHELL (DIRECTOR): $233,404 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Organized and operated exclusively to receive, hold, invest, administer property and to make expenditures to or for the benefit of the university of central Florida. Specific duties are to operate and maintain the football stadium on behalf of the university.

What it reported doing in 2013

To operate and manage the football stadium on behalf of the university and the university of central Florida athletic association.

Operating model

Revenue model
Donor-supported. 79% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 68% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 76
  • Accountability: 45
  • Sustainability: 54
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.9%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 69th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 50%; rating input score 50; 9th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • 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: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.6%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 4.14; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 0.6%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.2% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.9% of spending went to programs
  • Governance: 2 of 4 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $14.4M in reported program spending
  • Leadership: top reported pay $312K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 4 filing years from 2009 to 2013
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 8 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Independent voting board scored 50/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.