Seven Locks Pool Inc

Nonprofit profile at a glance

EIN
520806694
IRS 990 coverage
2012–2023
Forms available
Form 990 2023
Location
Bethesda, MD, USA
Phone
3013654122
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$745,937
Expenses
$651,646
Assets
$4,093,586
Liabilities
$3,040,241

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • ERIC SCHWARTZ (PRESIDENT/TENNIS)

People named in this filing

  • ABY FILOMENO (BOARD MEMBER/MEMBERSHIP)
  • JOEL HEILMANN (BOARD MEMBER/FACILITIES)
  • DAN BERGER (BOARD MEMBER/PLANNING)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Recreational facilities maintained for the benefit of approximately 300 members and their families.

What it reported doing in 2023

Pool expenses

Operating model

Revenue model
Earned-program. 97% 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. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 82
  • Accountability: 70
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.5%; rating input score 84
  • Program expense ratio: 98.3%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th 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 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 12.6%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 6.28; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.74; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 7.3% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 8.1% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 15.6% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 83.5% of revenue deployed · 98.3% of spending went to programs
  • Governance: 7 of 3 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $640K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 12 filing years from 2012 to 2023
  • 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 — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Transparency & Controls: Independent members within voting members did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.