Lake Oswego Swim Club

Nonprofit profile at a glance

EIN
930852551
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Lake Oswego, OR, USA
Phone
5034128197
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$923,329
Expenses
$850,239
Assets
$457,691
Liabilities
$211

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Rick Vail (President)
  • Lonnie Sexton (Vice President)

Highest reported compensation

  • Emily Melina (Head Coach): $137,363 total reported compensation

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

Overview

Mission

Lake Oswego Swim Club (LOSC) is a nationally recognized, competitive swim program providing swimmers the opportunity to achieve their highest potential. LOSC promotes the physical fitness and character building through individual growth in an inclusive, flexible team environment.

What it reported doing in 2024

Lake Oswego Swim Club (LOSC) is a nationally recognized, competitive swim program that provides swimmers the opportunity to achieve their highest potential as both a person and an athlete. LOSC aims to serve swimmers throughout their youth swimming career. For novice swimmers, who are not ready for the rigors of competition , LOSC provides a swimming fundamentals training designed to teach beginners how to safely enjoy the water and to prepare them to participate in competitive swimming. In 2024, LOSC trained over 200 swimmers each month, from 6 year -old novice swimmers to competitive high school swimmers. LOSC athletes were represented at swim meets of all levels across the country state, regional and national championship meets.

Operating model

Revenue model
Membership-supported. 67% of the money available for current operations came from membership dues.
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

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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 92
  • Accountability: 63
  • Sustainability: 46
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.1%; rating input score 90
  • Program expense ratio: 97.9%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th 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: 87.5%; rating input score 88; 21st 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: 7.9%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 16.2%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 14.1% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 17.2% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: -3.6% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 90.1% of revenue deployed · 97.9% of spending went to programs
  • Governance: 7 of 8 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $832K in reported program spending
  • Leadership: top reported pay $137K · 7 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2020 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.

Key Signals

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

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.