Lightning Foundation

Nonprofit profile at a glance

EIN
593542305
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Tampa, FL, USA
Phone
8133016500
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$9,225,093
Expenses
$8,593,364
Assets
$5,682,728
Liabilities
$908,536

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

Leadership & pay

13 people listed

Executive titles in this filing

  • ELIZABETH FRAZIER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ELIZABETH FRAZIER (EXECUTIVE DIRECTOR): $406,339 total reported compensation
  • JASSEN CULLIMORE (DIRECTOR OF HOCKEY DEVELOPMENT): $228,020 total reported compensation
  • MATHIEU GARON (ASSISTANT HOCKEY DIRECTOR, COMMUNITY & HOCKEY DEVE): $223,318 total reported compensation

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

Overview

Mission

The lightning foundation is dedicated to investing its resources and leadership for the enrichment of the people of tampa bay, focusing on meeting basic human needs and enhancing lives.

What it reported doing in 2024

The lightning foundation is pleased to support hundreds of different non-profits and programs each year throughout the community that benefit those in need. A few examples are listed here: the lightning foundation purchases of charity event sponsorships and tables at dozens of non-profits each year, and also donates over 2,000 signed items and player experiences to non-profits throughout tampa bay for various charity auctions and raffles. Player ticket program - the goal of this program is to positively match players with an outstanding local non-profit organization(s) and to allow clients and volunteers of the non-profit the opportunity to see lightning hockey live. Different ticket packages are available for players to purchase at different price points per charge. The lightning foundation hosts charity events with our players including coops catch for kids (pediatric cancer) and the player charity holiday party (children's cancer center or a kids place). Usf partnership - the lightning foundation provides a financial commitment to the usf sports management and entertainment program in the usf college of business. The lightning foundation has an employee volunteer program contributing (volunteer) hours across our region through our generous employees.(c.h.a.r.g.e.) program which encourages the lightning family to volunteer a minimum of 4,000 hours annually at a variety of non-profits without fail. The tampa bay lighting, along with proud partners microlumen and the make a wish foundation, have programming sponsors including a wish experience program. The program featured eight dates throughout the season during which the bolts and microlumen hosted a make a wish family for the game with unforgettable, unique experiences as well as mosaic goals for food program which donates funding to the local bank that correlates to the number of goals scored during the season. License plates - the lightning foundaiton and Florida sports foundation partner to create a unique opportunity for fans to purchase a specialty tampa bay lightning license plate tag, with a portion of the proceeds from each tag benefitting the lightning foundation.

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 41% for direct work, and 59% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 77
  • Accountability: 34
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.5%; rating input score 67
  • Program expense ratio: 72%; rating input score 72
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.2%; rating input score 88; 2nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 94.8%; rating input score 95; 29th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 14.3%; rating input score 14; 6th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.8%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 0.66; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 13.8%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 7.9% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 11.2% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 6.9% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 67.5% of revenue deployed · 72% of spending went to programs
  • Governance: 1 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $6.2M in reported program spending
  • Leadership: top reported pay $406K · 13 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 26 of 28 current checks pass · 2 findings to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 50 filed money-flow records
  • Related organizations: 47 filed related-organization links
  • 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: Independent voting board scored 14/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • Review — Sustainability: Operating margin scored 56/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 21/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.