Richfield Swim Club

Nonprofit profile at a glance

EIN
411650494
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Richfield, MN, USA
Phone
6126059725
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Swimming & Other Water Recreation

Official website

Reported finances

Revenue
$232,064
Expenses
$300,468
Assets
$107,297
Liabilities
$0

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

Leadership & pay

11 people listed

Executive titles in this filing

  • RACHEL THELEMANN (PRESIDENT)
  • LISA JANUSZ (VICE PRESIDENT)

Highest reported compensation

  • HALEY FOYDEL (HEAD COACH): $65,289 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 Piranhas Swim Club is a year-round, competitive swim team offering high quality professional coaching & technique instruction for all ages and abilities, serving the Richfield and Minneapolis, MN communities.

What it reported doing in 2024

The organization sponsors a competitive swim team for the four seasons of the year. There were 131 swimmers on the team ranging in age from 6 to 18. Each swimmer participates in 3-8 meets per year, including the hosted meets in 4b below.

Operating model

Revenue model
Earned-program. 98% 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

STRONG - 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: 88
  • Transparency & Controls: 90
  • Accountability: 69
  • Sustainability: 21
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.8%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: -29.5%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 0.36; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 21.7%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 8.9% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 3.9% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 13.8% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $291K in reported program spending
  • Leadership: top reported pay $65K · 11 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.