Cherokee Rodeo Inc

Nonprofit profile at a glance

EIN
920578940
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Holstein, IA, USA
Phone
7122298509
Rating
43
Verdict
MIXED
Rating confidence
Standard
Sector
Agricultural Programs

Official website

Reported finances

Revenue
$200,697
Expenses
$188,811
Assets
$137,830
Liabilities
$89

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • MEGAN PIGOTT (VICE PRESIDENT)
  • SHERYL LEONARD (PRESIDENT)

People named in this filing

  • DENNIS KNOP (DIRECTOR)
  • ALFONSO MORALES (DIRECTOR)
  • MEGAN PIGOTT (VICE PRESIDENT)

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

To promote agriculture by hosting an annual family freindly rodeo event that educates and entertains the public, supports Iowa youth, showcases midwestern livestock heritage, and provides year round educational support witnin the community.

What it reported doing in 2024

Gave a $10,000 leadership in ag scholarship to a student entering the ag field.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 8
  • Transparency & Controls: 95
  • Accountability: 18
  • Sustainability: 49
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 8.7%; rating input score 9
  • Program expense ratio: 7.4%; rating input score 7
  • Fundraising efficiency: $1.77 raised per $1 spent on fundraising; rating input score 8; 8th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • 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: 5.9%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0.73; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 49% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 33.1% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 26.2% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 8.7% of revenue deployed · 7.4% of spending went to programs
  • Governance: 0 of 7 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $14K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 9/100.
  • High — Financial Efficiency: Program expense ratio scored 7/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 8/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.