Chicago Rowing Foundation

Nonprofit profile at a glance

EIN
363137851
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Chicago, IL, USA
Phone
7734954523
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$1,786,650
Expenses
$2,024,442
Assets
$1,180,414
Liabilities
$224,322

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • Michael Wallin (Executive Director)
  • Su Bermingham (President)

Highest reported compensation

  • Michael Wallin (Executive Director): $118,030 total reported compensation
  • Michael Tanner (Director): $24,630 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote foster and support both sweep rowing and sculling to youth and adults in the Greater Chicago Metropolitan Area and to educate coach and train the general public in skills relating to rowing and in-water safety.

What it reported doing in 2023

CRF conducts a highly ranked High School Program and various Learn to Row programs. Coaches use a comprehensive approach to the physical mental and social well-being of the athletes and cultivate them into successful individuals and winning teams. The High School Program participates in both Regional and National championships offering opportunities in the Chicagoland area to earn entrance to college with their rowing skills as well as to compete for positions on the U.S. Junior National Rowing Team.

Operating model

Revenue model
Other-operating. 85% of the money available for current operations came from other operating revenue.
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

STRONG - 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: 88
  • Transparency & Controls: 92
  • Accountability: 65
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 16th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: Pass

Sustainability

  • Operating margin: -13.3%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 0.58; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 7%; rating input score 47; 47th percentile among comparable filings

Growth

  • Program expense growth: 6.9% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 9.3% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 6.3% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97% of spending went to programs
  • Governance: 6 of 8 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2M in reported program spending
  • Leadership: top reported pay $118K · 8 people listed
  • Consistency: 43 of 43 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 12 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.
  • Moderate — Sustainability: Officer compensation ratio scored 47/100.