Chicago Quantitative Alliance

Nonprofit profile at a glance

EIN
363904576
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Palatine, IL, USA
Phone
8477075223
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$254,665
Expenses
$323,415
Assets
$69,114
Liabilities
$0

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

Leadership & pay

17 people listed

People named in this filing

  • DAN CARDELL (LEAD DIRECTOR)
  • TOMMY HUIE (DIRECTOR)
  • GREGORY FORSYTHE (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Chicago quantitative alliance (cqa) is a business league as defined under internal revenue code section 501(c)(4) and reg. 1.501(c)(4)-1. Cqa's purpose is to further quantitative investment techniques by: 1) promoting regular communication and an exchange of ideas among investment professionals employing such techniques, and 2) sponsoring conferences and related meetings on quantitative investment techniques geared towards practitioners and which enourages active participation of all its members.

What it reported doing in 2024

The organization holds a spring, fall and asian conference with over 60% of membership in attendance with a number of presentations on quantitative and related investment issues given by academics, students, and practitioners. A half day trading conference is open to members and their guests on the current state of equity trading and execution issues.

Operating model

Revenue model
Membership-supported. 100% of the money available for current operations came from membership dues.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 26
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 100%; rating input score 100; 63rd 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: -27%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: -3.4% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: -28.3% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 17 of 17 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $323K in reported program spending
  • Leadership: top reported pay $0 · 17 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • High — Growth: Asset growth scored 0/100.