Uss Slater (De-766) Frank Lasch Foundati C/o Hinman Straub Pc

Nonprofit profile at a glance

EIN
844233107
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Albany, NY, USA
Phone
5186897218
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
History Museums

Reported finances

Revenue
$31,202
Expenses
$5,000
Assets
$1,240,276
Liabilities
$1,167,593

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

Leadership & pay

5 people listed

Executive titles in this filing

  • KAREN LONG (PRESIDENT)

People named in this filing

  • KAREN LONG (PRESIDENT)
  • CHRISTOPHER LASCH (TREASURER)
  • ANDREW CARROLL (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The purpose of the corporation shall be to provide financial support to the destroyer escort historical museum, a 501(c)(3) organization, and other organizations that qualify as exempt organizations under 501(c)(3). The corporation is organized exclusively for charitable, religous, educational, and scientific purposes, including the making of distributions to organizations that qualify as exepmt organizations under section 501(c)(3) of the internal revenue code, or the corresponding section of any future federal tax code.

What it reported doing in 2024

To provide support to historical ship museums.

Operating model

Revenue model
Investment-supported. 89% of the money available for current operations came from recurring investment income.
Distribution model
Affiliate network. The nonprofit sent 100% of its reported program spending through affiliated organizations.

The verdict

SUPPORTED - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 83
  • Accountability: 82
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 17.8%; rating input score 18
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 22nd 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 84%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 248.06; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 150% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 55.5% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 38.3% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 17.8% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $5K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • 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 18/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.