Inland Lake Yachting Associationin

Nonprofit profile at a glance

EIN
391083870
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
East Troy, WI, USA
Phone
8476756434
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$419,563
Expenses
$465,282
Assets
$187,718
Liabilities
$39,378

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

Leadership & pay

20 people listed

People named in this filing

  • LEE ALNES (PAST COMMODO)
  • TODD HAINES (COMMODORE)
  • CHARLES LAMPHERE (VICE COMMODO)

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

To encourage, develop, promote and foster amateur yachting and yacht racing on the inland lakes of the midwest of the united states.

What it reported doing in 2024

Provide grants to amateur sailing teams competing in or to qualify in olympic sailing events or other national or international competition, and provide grants to sailing schools to help foster junior sailing competition.

Operating model

Revenue model
Other-operating. 61% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 61% for direct work, and 39% for grants.

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: 87
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.3%; rating input score 94
  • 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -10.9%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 0.4; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 8.5% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 5.3% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.3% of spending went to programs
  • Governance: 19 of 19 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $439K in reported program spending
  • Leadership: top reported pay $0 · 20 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 21/100.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.