Lake Lanier Olympic Park Foundation

Nonprofit profile at a glance

EIN
582094780
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Gainesville, GA, USA
Phone
7705406307
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Swimming & Other Water Recreation

Reported finances

Revenue
$254,613
Expenses
$162,761
Assets
$553,084
Liabilities
$6,121

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

Leadership & pay

19 people listed

People named in this filing

  • DAVID BARNETT (DIRECTOR)
  • MARK BELL (TREASURER)
  • MIMI COLLINS (CHAIR)

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 provide assistance to the city in the successful operation of lake lanier olympic park, primarily through fundraising efforts for capital improvements at the park.

What it reported doing in 2024

The foundation was previously responsible for renovations to the lake lanier olympic park and maintaining the physical upkeep of the venue property and facilities, including all buildings and grounds contained in the park until the gprb took over in july 2019. During the year ended june 30, 2020, the foundation installed street lights and completed one major project to improve the park - an olympic ring plaza - which prominently features an olympic rings sculpture in front of the timing tower. The sculpture was crafted from structural steel originally used in the support beams of floating grandstands erected for the 1996 olympics. The lake lanier olympic park continues to host local, national and international rowing, sprint kayak and canoe events, as well as dragon boat races and championships. The foundation supports these competitive events as well as community events held at the venue, typically by providing volunteers.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 75
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.4%; rating input score 61
  • Program expense ratio: 95.2%; rating input score 95
  • 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: 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: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass

Sustainability

  • Operating margin: 36.1%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 3.4; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -16.7% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -17.8% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 61.4% of revenue deployed · 95.2% of spending went to programs
  • Governance: 19 of 19 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $145K in reported program spending
  • Leadership: top reported pay $0 · 19 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.