The Locals Inc

Nonprofit profile at a glance

EIN
463247264
IRS 990 coverage
2023–2023
Forms available
Form 990 2023, Form 990-EZ 2022
Location
Stillwater, MN, USA
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Historical Societies, Related Historical Activities

Official website

Reported finances

Revenue
$179,163
Expenses
$179,785
Assets
$29,637
Liabilities
$6,891

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

Leadership & pay

6 people listed

Executive titles in this filing

  • JOSH ERNST (VICE PRESIDENT)
  • BRAD GLYNN (PRESIDENT)
  • PAUL CREAGER (VICE PRESIDENT)

Highest reported compensation

  • SARAH MOSLEMI (DIRECTOR): $5,000 total reported compensation
  • SAM ZIEMER (SECRETARY): $5,000 total reported compensation
  • JOSH ERNST (VICE PRESIDENT): $5,000 total reported compensation

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

Overview

Mission

Organize and operate a local community event to raise funds to benefit the community.

What it reported doing in 2023

The locals primary purpose is to organize the lumberjack days in stillwater, Minnesota. The purpose of this event is to provide an engaging and ) educational event that welcomes families and community members to the birthplace of Minnesota to enjoy and learn about the cultural heritage, historical charm, and local talent of our beloved river town. The event provides opportunities for individuals to engage with each other and corporate community members. Featured at the event atr family programming, k-9 demonstrations by local law enforcement, fire truck displays by the local fire department, a tug0o0war with the local fire fighters, live music, soap box derby, historically themed rooms designed to educate and promote the history of stillwaters lumberjack industry, and a community parade.

Operating model

Revenue model
Donor-supported. 71% of the money available for current operations came from contributions and gifts.
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

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 92
  • Accountability: 68
  • Sustainability: 27
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.5%; rating input score 95
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.3%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 0.16; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 13.9%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 12.7% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 9.4% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.5% of spending went to programs
  • Governance: 6 of 6 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $170K in reported program spending
  • Leadership: top reported pay $5K · 6 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 5 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 8 not reported.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.