The Racquet Club

Nonprofit profile at a glance

EIN
751042627
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Midland, TX, USA
Phone
4326835596
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$5,440,091
Expenses
$4,833,200
Assets
$7,302,674
Liabilities
$440,921

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

Leadership & pay

10 people listed

Executive titles in this filing

  • SPENCER BLAKE (President)
  • DAVE JOYNER (Vice President)

Highest reported compensation

  • SCOTT STEWART (GENERAL MANAGER): $218,000 total reported compensation

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

Overview

Mission

Tennis and dining social club

What it reported doing in 2024

The racquet club operates a tennis, swimming, and dining facility for social benefit of its members. These facilities benefit in excess of 300 members and their families.

Operating model

Revenue model
Earned-program. 94% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 60
  • Accountability: 79
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.7%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 4 of 8 controls in place; rating input score 50
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.2%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 1.51; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 4.5%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 5.3% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 3.4% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.7% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $4.3M in reported program spending
  • Leadership: top reported pay $218K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2012 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.