Olympus Aquatics

Charity Navigator Rating: 58% (One-Star out of Four Stars)

Olympus Aquatics has received a low rating of 58% from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The nonprofit lacks majority independent board members and has not demonstrated adequate financial transparency, as evidenced by a failing score in financial statements. However, it has maintained a good program expense ratio of 88.30%, suggesting that the majority of its funds are directed towards its programs.

Strengths noted include a perfect score for its material diversion of assets and the presence of a conflict of interest policy, which reflects a commitment to ethical governance in certain areas. Additionally, the organization has a low liabilities to assets ratio, pointing to a manageable level of debt. However, the absence of adequate oversight mechanisms, such as a whistleblower policy and proper document retention practices, raises red flags about its overall governance structure.

While Olympus Aquatics exhibits some positive programmatic focus, its critical weaknesses in governance and financial accountability as highlighted by the rating necessitate improvements. Stakeholders and potential donors should carefully consider these factors when engaging with the organization.

This AI summary has been generated from information found on Charity Navigator.

Olympus Aquatics is a legitimate nonprofit organization registered as a 501(c)(3) entity. Olympus Aquatics 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: $191,573

For more financial information, click here

Official website here: www.olympusaquatics.com