Swag Custom Rides Inc

Nonprofit profile at a glance

EIN
473053663
IRS 990 coverage
2015–2022
Forms available
Form 990 2022, Form 990-N 2015
Location
New Britain, CT, USA
Phone
8602257924
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Vocational Rehabilitation

Official website

Reported finances

Revenue
$344,620
Expenses
$407,295
Assets
$858,691
Liabilities
$450,366

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • GLENN RICHARDS (PRESIDENT)

People named in this filing

  • JOHN MURATORI SR (DIRECTOR)
  • MARK GUASTAFERRI (DIRECTOR)
  • DENNIS J STANEK JR (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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Swag custom rides is the first and only automotive custom restoration non-profit shop in america. Swag restores, customizes and fabricates vehicles with two missions in mind restoring vehicles while transforming lives. With a team of leading industry professionals, swag provides job training, education and life skills for troubled individuals recovering from life-controlling problems.

What it reported doing in 2022

Swag restores, customizes and fabricates vehicles with two missions in mind restoring vehicles while transforming lives. With a team of leading industry professionals, swag provides job training, education and life skills for troubled individuals recovering from life-controlling problems.

Operating model

Revenue model
Other-operating. 96% of the money available for current operations came from other operating 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: 89
  • Transparency & Controls: 90
  • Accountability: 41
  • Sustainability: 35
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.6%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 40%; rating input score 40; 15th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • 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: -18.2%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 2.11; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: 7.2% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: -0.7% per year; rating input score 0; 26th percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.6% of spending went to programs
  • Governance: 2 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $402K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2015 to 2022
  • 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.

  • Moderate — Accountability: Independent voting board scored 40/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 17/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.