Overview
What is La Jolla Aquatic Complex Foundation?
La Jolla Aquatic Complex Foundation is a nonprofit organization situated in La Jolla, California, with a specific address provided. Its primary mission is to sustain the annual operating expenses of the local aquatic complex, catering to the community and the students of La Jolla High School and Muirlands Middle School. Additionally, the foundation aims to expand both the capital reserve fund for major maintenance costs and the endowment funds. With a dedicated workforce of 97 individuals, the organization's objective is to ensure the continued operation and upkeep of the aquatic complex, providing a valuable resource for the local community.
Official website here: www.cogganaquatics.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%, Four-Star out of Four Star rating
The La Jolla Aquatic Complex Foundation has received a commendable Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. The foundation demonstrates exceptional governance, with a fully independent board of 11 members and strong financial oversight measures in place. The organization's commitment to transparency is evidenced by its published financial statements and adherence to conflict of interest policies.
One of the strengths highlighted is the foundation's impressive program expense ratio of 92.48%, which signifies that a significant portion of its resources is dedicated to its mission-related activities. Additionally, their fundraising efficiency is notable, with only $0.05 spent to raise each dollar, demonstrating effective resource management. The low liabilities to assets ratio of 0.06% further underscores its financial stability.
However, the foundation does have some areas for improvement, particularly in governance practices. They lack a whistleblower policy and have not distributed tax forms to the board prior to filing, both of which received a score of zero in Charity Navigator's assessment. Addressing these gaps could enhance their governance framework and further solidify stakeholder trust.
This AI summary has been generated from information found on Charity Navigator.
Is La Jolla Aquatic Complex Foundation legitimate?
La Jolla Aquatic Complex Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. La Jolla Aquatic Complex Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $410,001
For more financial information, click here
Official website here: www.cogganaquatics.org
What is the mission statement of La Jolla Aquatic Complex Foundation?
The La Jolla Aquatic Complex Foundation's mission is centered around raising funds to cover the annual operating expenses of the aquatic complex, as well as growing both the capital reserve fund for major maintenance expenditures and the endowment funds. This mission aims to ensure the year-round operation of the community pool, which is utilized by the La Jolla community and the students of La Jolla High School and Muirlands Middle School. The foundation's goal is to secure a sustainable financial future for the aquatic complex.
Official website here: www.cogganaquatics.org
What is the revenue of La Jolla Aquatic Complex Foundation?
La Jolla Aquatic Complex Foundation's revenue in 2023 was $1,389,334.
Official website here: www.cogganaquatics.org
Who are the executives of La Jolla Aquatic Complex Foundation and what are their salaries?
The average compensation at La Jolla Aquatic Complex Foundation during 2023 was $6,119. There are 67 employees and 12 volunteers at La Jolla Aquatic Complex Foundation.
Here are 12 key members and their salaries:
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Official website here: www.cogganaquatics.org
Where can I find the form 990 for La Jolla Aquatic Complex Foundation?
La Jolla Aquatic Complex Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.cogganaquatics.org
Learn more at the official website: www.cogganaquatics.org
Mission Statement of La Jolla Aquatic Complex Foundation
The La Jolla Aquatic Complex Foundation's mission is centered around raising funds to cover the annual operating expenses of the local aquatic complex. Beyond this, the organization strives to expand both the capital reserve fund for major maintenance expenditures and the endowment funds. In doing so, the La Jolla Aquatic Complex Foundation aims to ensure the long-term sustainability and upkeep of the community pool, which is utilized by the La Jolla community and the students of La Jolla High School and Muirlands Middle School. This year-round operation serves as a vital resource for the community, offering a space for recreation and relaxation.
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Impact
October, 2024
The La Jolla Aquatic Complex Foundation plays a crucial role in enhancing the water-based activities and programs available to the local community. By raising funds to support the annual operating expenses of the aquatic complex, the foundation ensures year-round access to the community pool for residents, as well as students from La Jolla High School and Muirlands Middle School. This contribution not only facilitates recreational swimming but also promotes water safety, fitness, and competitive aquatic programs.
Additionally, the foundation's efforts to grow the capital reserve fund and endowment funds are vital for maintaining the facility's infrastructure and ensuring its sustainability. This long-term financial planning allows for major maintenance projects to be completed, which ultimately enhances the quality of the aquatic programs offered. The foundation's impact thus extends beyond just operational support; it fosters a culture of swimming and education within the community, positively influencing the health and well-being of residents and students alike.
This information is meant to be a general summary of La Jolla Aquatic Complex Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $100,060
- Program Service Revenue: $810,333
- Gross Receipts: $1,389,334
Assets and Liabilities:
- Total Assets: $4,239,346
- Total Liabilities: $2,880
- Net Assets: $4,236,466
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMISSIONS
Revenue
$442,577
HIGH SCHOOL-DISTRICT USE
Revenue
$167,412
PROGRAMS
Revenue
$73,604
RENTALS
Revenue
$91,490
TOURNAMENTS
Revenue
$35,250
Organization Details
Founding Year
1999
Principal Officer
Grant Lebeau
Website
www.cogganaquatics.orgNTEE Category
Code: B126 - Education
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