Overview
What is V3 Sports Inc?
V3 Sports Inc, located in Minneapolis, Minnesota, is a nonprofit organization dedicated to promoting health, wellness, equity, and opportunities for the North Minneapolis community. They deliver various programs including swimming lessons, lifeguard training, and swim instructor training. Their mission extends beyond fitness, as they aim to create a positive impact through water safety education and economic development. V3 Sports Inc employs a team of ten individuals in their mission to make a difference.
Official website here: www.v3sports.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 43%, Zero-Star out of Four Star rating.
V3 Sports Inc has received a 43% score on Charity Navigator, indicating significant concerns regarding its financial health and accountability. While the organization excels in certain governance aspects, such as having a majority of independent board members and a strong audit and oversight committee, its overall performance in financial metrics is troubling. The low program expense ratio of 11.8% suggests that a minimal portion of its expenditures goes directly to its stated programs.
Moreover, the organization has not established critical policies, including a whistleblower policy and a document retention and destruction policy, which raises questions about transparency and governance. The absence of these policies has resulted in a poor accountability score. Although there are no signs of material diversion of assets, the organization struggles with a high liabilities-to-assets ratio of 58.75%, indicating potential financial instability.
Overall, while V3 Sports Inc maintains solid governance structures, the lack of effective financial management and essential policies highlights significant areas for improvement. Stakeholders may want to consider these factors when evaluating the organization's effectiveness and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is V3 Sports Inc legitimate?
V3 Sports Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. V3 Sports Inc 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: $74,767
Other Salaries and Wages: $165,170
For more financial information, click here
Official website here: www.v3sports.org
What is the mission statement of V3 Sports Inc?
V3 Sports Inc is dedicated to enhancing health, wellness, equity, and opportunities for individuals through fitness, water safety, education, and economic impact. In practice, this organization delivers swimming lessons, trains lifeguards, and provides swim instructor certifications to community members. Furthermore, V3 Sports Inc hosts fitness events to promote physical well-being and overall health within the community.
Official website here: www.v3sports.org
Who is the CEO of V3 Sports Inc?
Analyah Schlaeger Dos Santos is the Director And Chair of V3 Sports Inc.
Official website here: www.v3sports.org
What is the revenue of V3 Sports Inc?
V3 Sports Inc's revenue in 2022 was $15,786,495.
Official website here: www.v3sports.org
Who are the executives of V3 Sports Inc and what are their salaries?
The average compensation at V3 Sports Inc during 2022 was $16,517. There are 10 employees and 80 volunteers at V3 Sports Inc.
Here are 16 key members and their salaries:
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Official website here: www.v3sports.org
Where can I find the form 990 for V3 Sports Inc?
V3 Sports Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.v3sports.org
Learn more at the official website: www.v3sports.org
Mission Statement of V3 Sports Inc
V3 Sports Inc, a dynamic organization, strives to enhance the health and wellbeing of communities by promoting fitness, water safety, education, and economic opportunities. With a mission to provide health, wellness, equity, and chance, V3 Sports Inc sets out to make a significant impact.
Through its various programs, V3 Sports Inc delivers swimming lessons to community members. These essential skills not only ensure safety around water but also open doors to new experiences and opportunities. Furthermore, the organization goes beyond just teaching swimming by offering lifeguard and swim instructor training. By empowering locals with these valuable certifications, V3 Sports Inc fosters employment opportunities and contributes to the economic growth of the community.
Moreover, V3 Sports Inc organizes fitness events in the community. These events serve as excellent platforms for individuals to engage in physical activities, promote a healthy lifestyle, and build camaraderie among neighbors. By focusing on fitness, water safety, education, and economic impact, V3 Sports Inc is dedicated to making a tangible difference in the lives of those it serves.
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Impact
October, 2024
V3 Sports Inc significantly enhances the quality of life in North Minneapolis by promoting health, wellness, and equity through its various programs. By offering swimming lessons, lifeguard training, and swim instructor training, V3 addresses essential skills that contribute to water safety, particularly in communities that may face barriers to access. These initiatives not only improve individual capabilities but also foster a culture of safety and preparedness within the community.
In addition to aquatic training, V3 organizes fitness events that encourage physical activity and community engagement. These events serve as a platform for residents to connect, stay active, and prioritize their health in a supportive environment. The overall impact of V3 Sports Inc is evident in its commitment to creating opportunities for personal and communal growth, ultimately leading to a healthier, more equitable community in Minneapolis.
This information is meant to be a general summary of V3 Sports Inc. 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 2022.
- Investment Income: $26,840
- Program Service Revenue: $1,007
- Gross Receipts: $16,179,207
Assets and Liabilities:
- Total Assets: $17,621,946
- Total Liabilities: $1,279,408
- Net Assets: $16,342,538
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Program Revenue
Revenue
$1,007
Organization Details
Founding Year
2015
Phone
(833) 837-7678Principal Officer
Analyah Schlaeger Dos Santos
Main Address
701 Plymouth Ave N Ste 102, Minneapolis, MN, 55411
Website
www.v3sports.orgNTEE Category
Code: N40 - Recreation
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