Myrtle Beach Marathon Inc

Nonprofit profile at a glance

EIN
582328574
IRS 990 coverage
2011–2014
Forms available
Form 990 2014
Location
Myrtle Beach, SC, USA
Phone
8432677443
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Amateur Sports

Official website

Reported finances

Revenue
$553,228
Expenses
$682,884
Assets
$170,037
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • SHAUN WALSH (PRESIDENT)

Highest reported compensation

  • LYNN WELDEN (DIRECTOR OF VOLUNTEERS): $24,000 total reported compensation
  • MARK SCHECKER (MEDICAL DIRECTOR): $22,750 total reported compensation
  • STEVE BRAKEFIELD (DIRECTOR OF TRAFFIC): $22,750 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

*establish a first class marathon

What it reported doing in 2014

Expenses for production of myrtle beach marathon

Operating model

Revenue model
Earned-program. 100% 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 - 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: 86
  • Transparency & Controls: 100
  • Accountability: 10
  • Sustainability: 21
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.8%; rating input score 90
  • Fundraising efficiency: Limited

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: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 2 of 9 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: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -23.4%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0.25; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 95; 95th percentile among comparable filings
  • Officer compensation ratio: 13.3%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: -15.2% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -7.5% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -26.7% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89.8% of spending went to programs
  • Governance: 0 of 5 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $613K in reported program spending
  • Leadership: top reported pay $24K · 5 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2011 to 2014
  • Contacts: How to reach this organization
  • Money network: 4 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.