Laser Class Association Inc
Nonprofit profile at a glance
- EIN
- 463045188
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Location
- Austin, TX, USA
- Phone
- 5122706727
- Rating
- 62
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Swimming & Other Water Recreation
Reported finances
- Revenue
- $2,416,029
- Expenses
- $2,286,928
- Assets
- $2,592,184
- Liabilities
- $1,254,012
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- Tracy Usher (President)
- Mark Lyttle (Vice President)
People named in this filing
- Tracy Usher (President)
- Jean-Luc Michon (World Council Member)
- Ryan Minth (World Council Member)
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 foster national and international amateur athletic competition in the sport of sailing ILCA class sailboats, including conducting national and international sports competitions for Olympic athletes and athletes seeking to qualify for the Olympic Games. To ensure the strict "one-design" nature of the ILCA class sailboat and foster communication among the organization's members.
What it reported doing in 2024
Organization and Management of Sailing Competitions -- Scheduled, organized, and managed seven world championship sailing competitions serving over 1400 athletes from over 110 countries. Competitions included Olympic qualification events for men and women and three age-specific events (youth and masters). Provided equitable entry process services utilizing custom-built web applications to assure equal access to events for all countries in accordance with the Olympic Charter. Arranged over 80 volunteer race officials, international judges, and measurers to support events. Provided on site support and oversaw the conduct of all racing and equipment inspections.
Operating model
- Revenue model
- Other-operating. 93% of the money available for current operations came from other operating 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 most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.
Rating breakdown
- Financial Efficiency: 65
- Transparency & Controls: 50
- Accountability: 70
- Sustainability: 50
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 71.4%; rating input score 71
- Program expense ratio: 76.2%; rating input score 76
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: Scored; rating input score 0
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 88.9%; rating input score 89; 20th percentile among comparable filings
- Governance controls: 3 of 7 controls in place; rating input score 43
- Conflict-of-interest policy: Pass
- 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: Pass
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 5.3%; rating input score 52; 52nd percentile among comparable filings
- Total-asset coverage ratio: 1.13; rating input score 41; 41st percentile among comparable filings
- Liabilities to assets ratio: 0.48; rating input score 22; 22nd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings
Growth
- Program expense growth: 21.5% per year; rating input score 100; 87th percentile among comparable filings
- Revenue growth: 21.7% per year; rating input score 100; 90th percentile among comparable filings
- Asset growth: 22% per year; rating input score 100; 86th percentile among comparable filings
Details
- Where the money goes: 71.4% of revenue deployed · 76.2% of spending went to programs
- Governance: 8 of 9 board members independent · 3 of 7 filing controls reported
- Programs: 3 filed program accomplishments · $1.7M in reported program spending
- Leadership: top reported pay $0 · 10 people listed
- Highest-paid contractors: 1 contractor listed · $165K reported
- Consistency: 39 of 39 current checks pass
- Schedules: 5 filed schedules · includes foreign activity
- Filing history: 4 filing years from 2020 to 2024
- 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.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Transparency & Controls: Grant itemization coverage scored 0/100.
- Moderate — Accountability: Governance controls: 4 of 7 not reported.
- Review — Sustainability: Operating margin scored 52/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
- High — Sustainability: Liabilities to assets ratio scored 22/100.