Lake Minnetonka Sailing School Inc
Nonprofit profile at a glance
- EIN
- 237178929
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Excelsior, MN, USA
- Phone
- 9524041645
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Swimming & Other Water Recreation
Reported finances
- Revenue
- $704,195
- Expenses
- $764,484
- Assets
- $936,780
- Liabilities
- $3,910
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- MARK SIGEL (PRESIDENT)
People named in this filing
- MARK SIGEL (PRESIDENT)
- TARA ENGEBRETSON (SECRETARY)
- BETH BOWER (DIRECTOR)
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 enhance the mental and physical skills of our students while igniting a lifetime passion for the sport of sailing.
What it reported doing in 2024
To provide public and private adult and youth sailing instruction, education, programs, and competitions.
Operating model
- Revenue model
- Earned-program. 92% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 99% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 67
- Transparency & Controls: 92
- Accountability: 70
- Sustainability: 42
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 76.9%; rating input score 77
- Program expense ratio: 72.3%; rating input score 72
- Fundraising efficiency: $1.86 raised per $1 spent on fundraising; rating input score 5; 5th percentile among comparable filings
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: 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: 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: -8.6%; rating input score 19; 19th percentile among comparable filings
- Total-asset coverage ratio: 1.23; rating input score 49; 49th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 74; 74th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: 5.5% per year; rating input score 100; 45th percentile among comparable filings
- Revenue growth: 4.2% per year; rating input score 100; 39th percentile among comparable filings
- Asset growth: 0.6% per year; rating input score 100; 20th percentile among comparable filings
Details
- Where the money goes: 76.9% of revenue deployed · 72.3% of spending went to programs
- Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $553K in reported program spending
- Leadership: top reported pay $0 · 9 people listed
- Consistency: 27 of 27 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 15 filing years from 2010 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 — Accountability: Governance controls: 4 of 6 not reported.
- High — Financial Efficiency: Fundraising efficiency scored 5/100.
- High — Sustainability: Operating margin scored 19/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 49/100.