Issaquah Swim Team Association

Nonprofit profile at a glance

EIN
911022526
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Issaquah, WA, USA
Phone
4253923996
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Swimming & Other Water Recreation

Official website

Reported finances

Revenue
$1,743,397
Expenses
$1,688,834
Assets
$1,358,542
Liabilities
$164,831

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Mark Magnotti (President)
  • Sarah Keibler (Vice President)

Highest reported compensation

  • Timothy D Kearney (Head Coach): $123,614 total reported compensation

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

Overview

Mission

Operate a year round competitive swim team, training approximately 300 members ages 6 to 20.

What it reported doing in 2024

Operate a year round competitive swim team. Trained approximately 300 young people ages 6 to 20.

Operating model

Revenue model
Earned-program. 90% of the money available for current operations came from fees and other program 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

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

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 20
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.5%; rating input score 96
  • Program expense ratio: 98.5%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 14.3%; rating input score 14; 9th 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: 3.1%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 0.8; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 7.3%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 6.2% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 95.5% of revenue deployed · 98.5% of spending went to programs
  • Governance: 1 of 7 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.7M in reported program spending
  • Leadership: top reported pay $124K · 5 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 14/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.