Lake State Alpine Racing
Nonprofit profile at a glance
- EIN
- 842476211
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Location
- Minneapolis, MN, USA
- Phone
- 9522370442
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Winter Sports
Reported finances
- Revenue
- $89,310
- Expenses
- $84,320
- Assets
- $77,651
- Liabilities
- $1
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- MIKE FRIEDRICH (President)
Highest reported compensation
- MATT MAY (Treasurer): $3,500 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Our mission is to provide excellent alpine ski instruction and race coaching to youth in a safe, friendly and fun environment. We also provide outdoor recreation for kids in winter that help them stay active, learn new skills and develop a lifelong passion for skiing. We believe that all children from our team and others should be treated with kindness.
What it reported doing in 2024
The 2024-2025 season we enrolled and coached approximately 120 ski racers into our program, most of them between the ages of 7 and 15 years old. Our race team is a member of the midwest snowsports development league (msdl)in which we competed in 7 alpine ski race events. We successfully hosted one of those events.
Operating model
- Revenue model
- Earned-program. 98% 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. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 81
- Transparency & Controls: 90
- Accountability: 46
- Sustainability: 42
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 88.8%; rating input score 89
- Program expense ratio: 94.2%; rating input score 94
- 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: 71.4%; rating input score 71; 23rd percentile among comparable filings
- Governance controls: 1 of 8 controls in place; rating input score 12
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Fail
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 5.6%; rating input score 61; 61st percentile among comparable filings
- Total-asset coverage ratio: 0.92; rating input score 23; 23rd percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 38; 38th percentile among comparable filings
- Officer compensation ratio: 4.2%; rating input score 18; 18th percentile among comparable filings
Growth
- Program expense growth: 9.4% per year; rating input score 100; 74th percentile among comparable filings
- Revenue growth: 8.7% per year; rating input score 100; 85th percentile among comparable filings
- Asset growth: 26.2% per year; rating input score 100; 94th percentile among comparable filings
Details
- Where the money goes: 88.8% of revenue deployed · 94.2% of spending went to programs
- Governance: 5 of 7 board members independent · 1 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $79K in reported program spending
- Leadership: top reported pay $4K · 7 people listed
- Consistency: 21 of 21 current checks pass
- 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: 6 of 7 not reported.
- High — Sustainability: Total-asset coverage ratio scored 23/100.
- High — Sustainability: Officer compensation ratio scored 18/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 38/100.