Team Y2k

Nonprofit profile at a glance

EIN
832309792
IRS 990 coverage
2019–2023
Forms available
Form 990 2023, Form 990-EZ 2020
Location
River Forest, IL, USA
Phone
6305489600
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Swimming & Other Water Recreation

Official website

Reported finances

Revenue
$403,387
Expenses
$392,865
Assets
$119,681
Liabilities
$3,563

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • KATHY RIGALI (President)
  • GREG RIGALI (Vice President)

Highest reported compensation

  • KATHY RIGALI (President): $90,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Every day we strive to provide an environment where personal excellence, teamwork and commitment are expected. Through the pursuit of dreams and goals, we will learn valuable life skills and develop the drive to achieve our potential in swimming and life. We are committed to fostering a healthy environment (mentally and physically) where kids feel safe, and are not afraid to fall down, fall short or fail in the lofty pursuit of their dreams. This is where character is developed. To build a tradition of swimming excellence tied to the Oak Park/River Forest community. We will have the reputation of being a safe space that produces passionate, inspired and high achieving swimmers, coaches and parents. We will strive to give back to the community that supports us.

What it reported doing in 2023

Team y2k achieved three main goals in 2022: we have access to finite pool time and space and have started to make inroads to obtain more water time. We continue to maintain a membership at capacity! We work hard to challenge our range of swimmers so they grow and improve in the sport.team y2k, as a teaw, had over 80% of the roster participate in a sanctioned swim meet. This is the highest % of swim meet involvement we have had and is a direct result of increasing our registered team officials.and for the first time, over 58% of our swimmers that competed achieved USA swimming bb times standards or faster.

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: 85
  • Transparency & Controls: 90
  • Accountability: 0
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.9%; rating input score 95
  • Program expense ratio: 97.4%; rating input score 97
  • 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: 0%; rating input score 0; 7th 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: Fail
    • 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: 2.6%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.3; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 23%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: 13.2% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 15.2% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 32.2% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 94.9% of revenue deployed · 97.4% of spending went to programs
  • Governance: 0 of 3 board members independent · 0 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $383K in reported program spending
  • Leadership: top reported pay $90K · 3 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2019 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.