Association of Korodu Descendants Akd USA

Nonprofit profile at a glance

EIN
364047228
IRS 990 coverage
2015–2015
Forms available
Form 990 2015, Form 990-N 2010
Location
Chicago, IL, USA
Phone
7733347098
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
International Relief

Reported finances

Revenue
$11,195
Expenses
$11,317
Assets
$34,134
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • REMI BALOGUN (PRESIDENT)

People named in this filing

  • REMI BALOGUN (PRESIDENT)
  • LOOKMAN OWOLOLA (TREASURER)
  • TAJUDEEN OGBARA MD (DIRECTOR)

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 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

1. Promotion of social, cultural, economic and educational awereness of all nigerian-american public-at-large. 2. Continue to develop programs that will afford its members and the public, opportunities to exchange views and share experience, organizationally and individually for satisfying common interest.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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 a large share of available resources goes toward mission work. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 90
  • Accountability: 6
  • Sustainability: 54
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71%; rating input score 71
  • Program expense ratio: 70.2%; rating input score 70
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 9th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.1%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 3.02; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 71% of revenue deployed · 70.2% of spending went to programs
  • Governance: 0 of 1 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $8K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Review — Sustainability: Operating margin scored 55/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.