Waterhawks Ski Team
Nonprofit profile at a glance
- EIN
- 420927410
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024, Form 990-EZ 2021
- Location
- Waterloo, IA, USA
- Phone
- 3192330525
- Rating
- 58
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Amateur Sports Competitions
Reported finances
- Revenue
- $150,492
- Expenses
- $88,704
- Assets
- $536,210
- Liabilities
- $123,204
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
17 people listed
Executive titles in this filing
- MARILYN SCHMITZ (President)
- DEREK DEZARN (Vice President)
People named in this filing
- MARILYN SCHMITZ (President)
- STEVE FORSSBERG (FUNDRAISING DIR)
- KEEGAN ULRICH (SHOW BUS MGR)
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
Waterhawks water ski team to educate club members, as well as the general public, on techniques, rules, regulations and safety in the sport of water-skiing. By promoting our alternative activities in the community, we hope to influence future generations of water-skiers by fostering relationships focused on coaching, mentoring, teamwork, cooperation, and leadership in the family environment.
What it reported doing in 2024
Promoting the sport of waterskiing through waterski instruction and hosting events for the general public, including events designed for the disabled, handicapped and disadvantaged.
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
MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of voting board members are independent and a relatively small share of available resources goes toward mission work.
Rating breakdown
- Financial Efficiency: 58
- Transparency & Controls: 84
- Accountability: 12
- Sustainability: 76
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 59.1%; rating input score 59
- Program expense ratio: 77.1%; rating input score 77
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 93.3%; rating input score 93; 26th 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: 0%; rating input score 0; 7th percentile among comparable filings
- Governance controls: 2 of 7 controls in place; rating input score 29
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 41.1%; rating input score 88; 88th percentile among comparable filings
- Total-asset coverage ratio: 6.04; rating input score 82; 82nd percentile among comparable filings
- Liabilities to assets ratio: 0.23; rating input score 18; 18th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: -18.9% per year; rating input score 0; 6th percentile among comparable filings
- Revenue growth: 6.6% per year; rating input score 100; 60th percentile among comparable filings
- Asset growth: 11.1% per year; rating input score 100; 69th percentile among comparable filings
Details
- Where the money goes: 59.1% of revenue deployed · 77.1% of spending went to programs
- Governance: 0 of 17 board members independent · 2 of 7 filing controls reported
- Programs: 2 filed program accomplishments · $68K in reported program spending
- Leadership: top reported pay $0 · 17 people listed
- Consistency: 21 of 22 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 — Accountability: Independent voting board scored 0/100.
- Review — Financial Efficiency: Mission deployment rate scored 59/100.
- High — Accountability: Governance controls: 4 of 6 not reported.
- High — Growth: Program expense growth scored 0/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 18/100.