SOLO Aquatics

Nonprofit profile at a glance

EIN
943023845
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-N 2019
Location
Foster City, CA, USA
Phone
6508519091
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$298,411
Expenses
$281,680
Assets
$74,046
Liabilities
$0

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

Leadership & pay

4 people listed

Executive titles in this filing

  • John Martin (President)
  • Thomas McRae (CEO)

Highest reported compensation

  • Thomas McRae (CEO): $140,840 total reported compensation

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

Overview

Mission

We are a youth swim team serving children 5-18 for the past 30 years. We offer daily swim practices and attend local swim meets. SOLO is a member of USA Swimming.

What it reported doing in 2024

SOLO was able to have three swimmers race at the national level. One swimmer was able to receive a scholarship to attend college. While another was able to place in the top of all high school swimmers in the state.

Operating model

Revenue model
Membership-supported. 100% of the money available for current operations came from membership dues.
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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 81
  • Accountability: 58
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.4%; rating input score 94
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 9th 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: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Missing
    • 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: 5.6%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 0.26; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 50%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 82.2% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 11.9% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 11.6% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 94.4% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 0 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $282K in reported program spending
  • Leadership: top reported pay $141K · 4 people listed
  • Consistency: 39 of 40 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2021 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.

  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • Review — Sustainability: Operating margin scored 52/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 4/100.