Vasaloppet Inc

Nonprofit profile at a glance

EIN
411286376
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Mora, MN, USA
Phone
3206792629
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Federated Giving Programs

Reported finances

Revenue
$230,599
Expenses
$168,259
Assets
$768,761
Liabilities
$53,826

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

Leadership & pay

12 people listed

Executive titles in this filing

  • CHIP GERDIN (PRESIDENT)

People named in this filing

  • KATIE KERR (SECRETARY)
  • CHIP GERDIN (PRESIDENT)
  • JON LARSON (DIRECTOR)

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

To promote a healthy and active outdoor lifestyle, including economic and social benefits, through cross country skiing and related programs for youth, families, and serious competitors.

What it reported doing in 2024

Organization of annual cross country ski race which includes a number of different race classes based on ski style, race length, and age of participants. Many other activities are available to get youth involved. Total race entries vary each year due to weather and snow conditions. Participation levels of 1000 are normal. It takes countless hours of volunteer time by local community members and other local organizations to promote, organize, and run the races. Maintenance of the trails used for the race is also done by numerous volunteers.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 92
  • Accountability: 64
  • Sustainability: 72
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.7%; rating input score 72
  • Program expense ratio: 97.9%; rating input score 98
  • 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: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 27%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 4.57; rating input score 77; 77th 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: -2.3% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: -0.5% per year; rating input score 0; 22nd percentile among comparable filings
  • Asset growth: -0.1% per year; rating input score 0; 24th percentile among comparable filings

Details

  • Where the money goes: 71.7% of revenue deployed · 97.9% of spending went to programs
  • Governance: 12 of 12 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $165K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.