Uss Cleveland Legacy Foundation

What it reported doing in 2024

1.lone sailor park: the monument was formally placed at the lakefront and introduced to the community in october. This was the most significant event of the year, fully funded through donations-to and efforts-of the board and select volunteers. It is intended to memorialize the sea services, and in fact all military branches, while enhancing the city of cleveland, cuyahoga county and really all Ohio as well as our nation at large. Our lone sailor park would go on to be recognized as an award- winning design. 2.navy ball - october, we organized and "sponsored" the 300 seat event and fund raiser at aviator event center. 3.fund raising - ongoing development efforts continue 365. See our general ledger and financials for details. The community outreach brings our mission to the attention of the business and general public communities. Stewardship of donations is a paramount task which we administer with conscience and determination. 4.the beginning of a reorganization that manifested itself in 2025. This in preparation for a busy year and improving the overall administration of the foundation. 5.various smaller events that recognized the crew of lcs-31. This is our mission, so any and all such gatherings, smaller sponsorships and hosted events are in support of the crew and the command triad (ship's skipper, xo and chief of the boat) 6.review and edit our foundation bylaws. I introduced the need for a "scrubbing" of our bylaws after five (5) years of operations as an appropriate step to assure we remain vigilant of circumstances over time. Recommendations were made and presented to the then executive committee for consideration. 7.scheduled board meetings, and also special meetings when required, to meet our expectations and cadence as set forward in our bylaws. A quorum is always met in order to proceed. 8.recruitment and onboarding of additional (and backfill) board members.

Financial Efficiency

• Mission deployment rate: 31.6%; rating input score 32
• Program expense ratio: 18.6%; rating input score 19
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 64th 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: 5 of 7 controls in place; rating input score 71
  • 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: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -55.9%; rating input score 5; 5th percentile among comparable filings
• Total-asset coverage ratio: 2.94; rating input score 68; 68th percentile among comparable filings
• Liabilities to assets ratio: 0.07; rating input score 29; 29th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

• Program expense growth: 19.8% per year; rating input score 100; 84th percentile among comparable filings
• Revenue growth: 19.5% per year; rating input score 100; 87th percentile among comparable filings
• Asset growth: 40.6% per year; rating input score 100; 95th percentile among comparable filings