Laporte Yacht Club Inc

Nonprofit profile at a glance

EIN
350819775
IRS 990 coverage
2014–2023
Forms available
Form 990 2023, Form 990-EZ 2020
Location
Laporte, IN, USA
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$197,493
Expenses
$140,216
Assets
$331,478
Liabilities
$52,522

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

4 people listed

People named in this filing

  • BRANDI COLLINS (SECRETARY)
  • MATT COLLINS (COMMODORE)
  • LORI COOPER (TREASURER)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Social club- promote the use of lakes for recreational purposes.

Operating model

Revenue model
Earned-program. 63% 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 44
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57%; rating input score 57
  • Program expense ratio: 34.7%; rating input score 35
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 2; 2nd 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 29%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 2.36; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 40.2% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 57% of revenue deployed · 34.7% of spending went to programs
  • Governance: 263 of 263 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2014 to 2023
  • Contacts: How to reach this organization
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 57/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 35/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.