Walnut Creek Aquabears Swim Team

Nonprofit profile at a glance

EIN
941693715
IRS 990 coverage
2020–2023
Forms available
Form 990 2023
Location
Walnut Creek, CA, USA
Phone
9259395990
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$624,242
Expenses
$644,719
Assets
$59,210
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Heidi McMillan (President)
  • Donna Davis (Vice President)

Highest reported compensation

  • Mike Heaney (Head Coach): $122,762 total reported compensation
  • Todd Krohn (Asst Head Coach): $89,040 total reported compensation
  • Russell Mikuni (Head Age Group Coach): $59,720 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide competitive swim instruction to children ages 5 to 19. Instruction is after school and on weekends. Swimmers compete in local, regional, and national meets. Walnut Creek Aquabears is a member club of USA Swimming, our sport's National Governing Body. Coaching staff is paid. All other work is provided by team parents on a volunteer basis.

What it reported doing in 2023

Other Expenses: Legal Fees $6,004.40, Accounting Fees $3,070.34, Office Expenses $4,011.48, Interest $847.27, Bank fees $264.00, State Tax/Fee $310.00, Certification $2,216.00, Gifts $8,800.00, Supplement to Coaches $590.00, Dues $225.00, Social Activities $653.47

Operating model

Revenue model
Membership-supported. 95% of the money available for current operations came from membership dues.
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 a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 38
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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: 55.6%; rating input score 56; 12th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.3%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0.09; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 47.3%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 10.1% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 10.2% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 9 board members independent · 1 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $645K in reported program spending
  • Leadership: top reported pay $123K · 9 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2020 to 2023
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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: 6 of 7 not reported.
  • Review — Accountability: Independent voting board scored 56/100.
  • High — Sustainability: Operating margin scored 29/100.
  • High — Sustainability: Total-asset coverage ratio scored 4/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.