Silver Lake Company

Nonprofit profile at a glance

EIN
742451474
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Brighton, UT, USA
Phone
4357142121
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$335,493
Expenses
$215,148
Assets
$1,245,262
Liabilities
$30,085

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

Leadership & pay

11 people listed

Executive titles in this filing

  • DON DESPAIN (PRESIDENT)
  • ROBERT A EVANS (VICE PRESIDENT)

People named in this filing

  • MIKE DOYLE (BOARD MEMBER)
  • DON DESPAIN (PRESIDENT)
  • ROBERT A EVANS (VICE PRESIDENT)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Member-owned water company.to provide culinary water to property owners in big cottonwood canyon, brighton, Utah.

What it reported doing in 2024

Member-owned water company. Provided culinary water to property owners in big cottonwood canyon, brighton, Utah.

Operating model

Revenue model
Earned-program. 99% 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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.6%; rating input score 64
  • Program expense ratio: 100%; rating input score 100
  • 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 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: 35.9%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 5.79; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 8.8% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 63.6% of revenue deployed · 100% of spending went to programs
  • Governance: 11 of 11 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $215K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • 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 — Sustainability: Liabilities to assets ratio scored 39/100.