Sigma Performance Swimming

Nonprofit profile at a glance

EIN
270297684
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2011
Location
Colleyville, TX, USA
Phone
8173203502
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Physical Fitness and Community Recreational Facilities

Official website

Reported finances

Revenue
$2,043,878
Expenses
$1,899,600
Assets
$344,179
Liabilities
$293,248

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

Leadership & pay

3 people listed

Executive titles in this filing

  • ANDREW HA (CHAIRMAN/PRESIDENT)

Highest reported compensation

  • ANDREW HA (CHAIRMAN/PRESIDENT): $240,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Youth aquatic programs in the community including swim lessons, water safety, drowning prevention. Youths developing a competitive swim team which receives local, regional, state and national titles.

What it reported doing in 2024

Provision of facilities appropriate in developing swimming and competitive skills throughout the geographic area centered around fort worth Texas.

Operating model

Revenue model
Earned-program. 92% 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: 73
  • Transparency & Controls: 60
  • Accountability: 30
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.6%; rating input score 80
  • Program expense ratio: 85.6%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 4th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 7th 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: Fail
    • 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: 7.1%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 0.18; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 0.85; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 12.6%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 14.9% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 14.6% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 18.3% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 79.6% of revenue deployed · 85.6% of spending went to programs
  • Governance: 1 of 3 board members independent · 2 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.6M in reported program spending
  • Leadership: top reported pay $240K · 3 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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: Independent voting board scored 33/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • Review — Sustainability: Operating margin scored 56/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.