The Prospectors Inc

Nonprofit profile at a glance

EIN
880055355
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Reno, NV, USA
Phone
7753243530
Rating
44
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,228,978
Expenses
$1,231,659
Assets
$445,584
Liabilities
$27,270

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

Leadership & pay

10 people listed

Executive titles in this filing

  • MITCH LAUGHTON (PRESIDENT)

Highest reported compensation

  • MICHAEL ROSENAUER (SECRETARY): $14,500 total reported compensation

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

Overview

Mission

Nevada's finest and oldest private social club

What it reported doing in 2024

Established in 1947 the club provides its members a comfortable club room to meet with acquiantances & clients for socializing and networking. It hosts many parties, dances and activities for its members. Current activities include golf tournaments, clay shoots, winter and spring dances, and additional special events.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 63
  • Sustainability: 34
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • 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: 90%; rating input score 90; 23rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: -0.2%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0.36; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.6% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 9 of 10 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $14K · 10 people listed
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 15 filing years from 2009 to 2024
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.