Reading United Soccer Club Inc
Nonprofit profile at a glance
- EIN
- 264379339
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024, Form 990-EZ 2017
- Location
- Reading, MA, USA
- Phone
- 7813153144
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Human Services
Reported finances
- Revenue
- $344,748
- Expenses
- $349,909
- Assets
- $363,684
- Liabilities
- $204,485
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- MICHAEL SHEEDY (PRESIDENT)
Highest reported compensation
- MICHAEL SHEEDY (PRESIDENT): $10,675 total reported compensation
- SEAN O'CONNOR (TREASURER): $10,388 total reported compensation
- JEFFREY MULLEN (DIRECTOR): $2,200 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 purpose of the corporation is to foster, encourage, develop and promote the game of soccer to children by building a soccer program that provides an equal opportunity for all players to develop skills to whatever level they are capable and willing; to provide a forum for the development of good teamwork and sportsmanship; to provide an environment for coaches to develop skills and techniques needed to teach the game of soccer; and to provide an environment for referees to develop skills and techniques needed to referee the game of soccer.
What it reported doing in 2024
Provide training, equipment, field maintenance, referees, uniforms, registration, supervision, and organization for approximately 800 youth soccer players aged 6-14.
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 99% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 83
- Transparency & Controls: 81
- Accountability: 72
- Sustainability: 34
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 93.6%; rating input score 94
- Program expense ratio: 92.2%; rating input score 92
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90%; rating input score 90; 9th 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: 3 of 9 controls in place; rating input score 33
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -1.5%; rating input score 35; 35th percentile among comparable filings
- Total-asset coverage ratio: 1.04; rating input score 42; 42nd percentile among comparable filings
- Liabilities to assets ratio: 0.56; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 7.4%; rating input score 31; 31st percentile among comparable filings
Growth
- Program expense growth: 16.7% per year; rating input score 100; 81st percentile among comparable filings
- Revenue growth: 3.4% per year; rating input score 100; 43rd percentile among comparable filings
- Asset growth: 8.1% per year; rating input score 100; 60th percentile among comparable filings
Details
- Where the money goes: 93.6% of revenue deployed · 92.2% of spending went to programs
- Governance: 10 of 10 board members independent · 3 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $323K in reported program spending
- Leadership: top reported pay $11K · 10 people listed
- Consistency: 19 of 20 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Filing history: 10 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 8 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.
- Moderate — Accountability: Governance controls: 5 of 8 not reported.
- Moderate — Sustainability: Operating margin scored 35/100.
- Review — Transparency & Controls: Foreign grants require schedule f did not reconcile in the filed values.
- Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
- High — Sustainability: Liabilities to assets ratio scored 10/100.
- Moderate — Sustainability: Officer compensation ratio scored 31/100.