Chicago Equity Fund Inc

Nonprofit profile at a glance

EIN
363371326
IRS 990 coverage
2010–2011
Forms available
Form 990 2011
Location
Chicago, IL, USA
Phone
3107506521
Rating confidence
Limited
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$681,867
Expenses
$1,381,481
Assets
$819,204
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2011. Amounts in USD.

Leadership & pay

5 people listed

Source: IRS Form 990. Selected filing: tax year 2011. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization invests in partnerships which provide low-income housing and supportive civic, social, and charitable services to low income persons and families in accordance with its exempt purpose.

What it reported doing in 2011

To initiate and manage pooled corporate equity investments in low and moderate-income multi-family housing projects.

Operating model

Revenue model
Earned-program. 84% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 31
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 4th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.2%; rating input score 99; 43rd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -102.6%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.59; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 96; 96th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 86; 86th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 82.2% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: -60.8% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 5 of 5 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 2 filing years from 2010 to 2011
  • Money network: 3 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

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: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.