Lakeside Swim Club Corporation

Nonprofit profile at a glance

EIN
813556528
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2019
Location
Slidell, LA, USA
Phone
2283632601
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Swimming & Other Water Recreation

Reported finances

Revenue
$223,288
Expenses
$222,342
Assets
$8,779
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Nicole Beebe (President)
  • Diana Tullis (Vice President)

Highest reported compensation

  • Nicole Beebe (President): $3,000 total reported compensation

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

Overview

Mission

Lakeside Swim Club provides an affordable location for swim teams and other community organizations to participate in aquatic activities.

What it reported doing in 2024

Provided opportunities for competitive swim programs, recreational swim programs, and lifesaving swim instruction to promote social, emotional, and educational development and to encourage peer and family participation in aquatic sports.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 69
  • Sustainability: 33
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97%; rating input score 97
  • Program expense ratio: 97.4%; rating input score 97
  • 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 0.4%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 0.04; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 27.5% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 16.6% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 97% of revenue deployed · 97.4% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $216K in reported program spending
  • Leadership: top reported pay $3K · 7 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 2 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: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.