Lake Club Inc

Nonprofit profile at a glance

EIN
060741628
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Wilton, CT, USA
Phone
2037625600
Rating
55
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$2,987,022
Expenses
$2,925,071
Assets
$3,777,996
Liabilities
$1,115,883

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

Leadership & pay

10 people listed

Executive titles in this filing

  • ANDREA FERRANTE (PRESIDENT)

Highest reported compensation

  • JOHN H UNDERHILL (GENERAL MANA): $118,336 total reported compensation
  • ALBERTO KRAEMER DE MELLO (ASST RAQUETS): $113,158 total reported compensation
  • ANNE M SPILLANE (FINANCE MANA): $108,546 total reported compensation

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

Overview

Mission

All income and expenses were used for the ultimate pleasure and recreational benefit of the members.

What it reported doing in 2024

All income and expenses were used for the ultimate pleasure and recreational benefits of the members.

Operating model

Revenue model
Earned-program. 94% 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

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of voting board members are independent and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 90
  • Accountability: 6
  • Sustainability: 40
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.2%; rating input score 59
  • Program expense ratio: 61.4%; rating input score 61
  • 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: 0%; rating input score 0; 3rd 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: 2.1%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 1.29; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 11.6%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 36.7% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 3.8% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: -0.6% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 59.2% of revenue deployed · 61.4% of spending went to programs
  • Governance: 0 of 273 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $118K · 10 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Mission deployment rate scored 59/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.