Richmond 2015 Inc C/O Piascik

Nonprofit profile at a glance

EIN
331041942
IRS 990 coverage
2012–2016
Forms available
Form 990 2016, Form 990-N 2010
Location
Glen Allen, VA, USA
Phone
8047885820
Rating
42
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$959,071
Expenses
$94,123
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

39 people listed

Executive titles in this filing

  • Wilson Flohr (Chief Executive Officer)

People named in this filing

  • G Slaughter Fitz-Hugh III (Director)
  • Steven M Piascik (Treasurer)
  • Dwight C Jones (Director & Co-Chair)

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 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To raise money for charity through the promotion of amateur/professional athletic competition.

What it reported doing in 2016

Produced the 2015 UCI Road World Cycling Championships, held between September 19 - 27, 2015, and used the event as a tool to promote tourism, economic development, health and wellness, and transportation alternatives, particularly bike and pedestrian infrastructure, throughout the Richmond region and the Commonwealth of Virginia. Also, utilized funds derived from the event to create a legacy fund that will provide on-going support programs, activities, and initiatives that promote the health and wellness of the region's citizens by encouraging and promoting participation in physical fitness and healthy lifestyles.

Operating model

Revenue model
Donor-supported. 99% 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

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 10
  • Transparency & Controls: 92
  • Accountability: 30
  • Sustainability: 56
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 2.5%; rating input score 3
  • Program expense ratio: 25.5%; rating input score 25
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Limited
  • 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: 90.2%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 84; 84th percentile among comparable filings

Growth

  • Program expense growth: 7.1% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: -18.7% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -42.7% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 2.5% of revenue deployed · 25.5% of spending went to programs
  • Governance: 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $24K in reported program spending
  • Leadership: top reported pay $0 · 39 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 5 filing years from 2012 to 2016
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 3/100.
  • High — Financial Efficiency: Program expense ratio scored 25/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.