Little Traverse Bay Foundation
Nonprofit profile at a glance
- EIN
- 844165681
- IRS 990 coverage
- 2020–2020
- Forms available
- Form 990 2020, Form 990-N 2019
- Location
- Harbor Springs, MI, USA
- Phone
- 2315265366
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Public Transportation Systems
Reported finances
- Revenue
- $216,467
- Expenses
- $151,402
- Assets
- $65,153
- Liabilities
- $88
Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- TIM KNAPP (PRESIDENT)
- BRAD RELLINGER (VICE PRESIDENT)
People named in this filing
- TIM KNAPP (PRESIDENT)
- BRAD RELLINGER (VICE PRESIDENT)
- CHIP EVEREST (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 2020. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
I) lessening the burdens of government and improving the environment by reducing fuel emissions by providing a ferry service between the cities of petoskey and harbor springs; (ii) providing access to the great lakes that otherwise may not be available to all in the community in northern Michigan; (iii) providing water-based education and awareness of water resources and other aspects of the great lakes and the northern Michigan community; and (iv) conducting all activities incidental or necessary to accomplish the foregoing purposes or otherwise permitted by section 50l(c)(3) of the code and the regulations promulgated thereunder.
What it reported doing in 2020
Providing water-based education and awareness of water resources and other aspects of the great lakes and the northern Michigan community - in 2020 7,200 passengers were served.
Operating model
- Revenue model
- Donor-supported. 80% of the money available for current operations came from contributions and gifts.
- 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 a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 69
- Transparency & Controls: 92
- Accountability: 88
- Sustainability: 58
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 58.3%; rating input score 58
- Program expense ratio: 83.2%; rating input score 83
- Fundraising efficiency: $68.14 raised per $1 spent on fundraising; rating input score 78; 78th 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: 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: 5 of 7 controls in place; rating input score 71
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- 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: 30.1%; rating input score 79; 79th percentile among comparable filings
- Total-asset coverage ratio: 0.43; rating input score 16; 16th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 66; 66th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 72; 72nd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 58.3% of revenue deployed · 83.2% of spending went to programs
- Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $126K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 22 of 22 current checks pass
- Schedules: 4 filed schedules · includes major donors
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Review — Financial Efficiency: Mission deployment rate scored 58/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Sustainability: Total-asset coverage ratio scored 16/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.