Silver Lake Fc Inc

Nonprofit profile at a glance

EIN
264163272
IRS 990 coverage
2015–2015
Forms available
Form 990 2015, Form 990-EZ 2012
Location
Los Angeles, CA, USA
Phone
3239660050
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Soccer

Reported finances

Revenue
$403,813
Expenses
$377,660
Assets
$50,103
Liabilities
$5,023

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • NICK EGAN (Vice President)
  • TUCKER CARNEY (President)

People named in this filing

  • NELSON HANDEL (Director)
  • ZEYDI STEWART (Director)
  • RONALD TAYLOR (Director)

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 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Silver Lake FC Inc. (dba Hollywood FC) strives to bring the opportunities and benefits of competitive level athletic experiences to every deserving youth throughout the Los Angeles area regardless of their family means or background. SLFC/HFC teaches children how to be great members of a team, community, city, state, country and the world while helping them build a path to higher education.

What it reported doing in 2015

Soccer registration expense

Operating model

Revenue model
Earned-program. 100% 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: 79
  • Transparency & Controls: 90
  • Accountability: 0
  • Sustainability: 43
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87%; rating input score 87
  • Program expense ratio: 93.1%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 6th 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: 0%; rating input score 0; 6th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • 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: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.5%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 0.13; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 26.9% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 34.5% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 87% of revenue deployed · 93.1% of spending went to programs
  • Governance: 0 of 7 board members independent · 0 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $350K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.