Emergency Fund

Nonprofit profile at a glance

EIN
237359890
IRS 990 coverage
2013–2014
Forms available
Form 990 2014
Location
Chicago, IL, USA
Phone
3123790301
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Emergency Assistance

Official website

Reported finances

Revenue
$4,915,104
Expenses
$4,978,610
Assets
$1,999,705
Liabilities
$989,458

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

24 people listed

Executive titles in this filing

  • VIRGINIA DOWNS (PRESIDENT)
  • RANDALL DOUBET KING (VICE PRESIDENT)
  • JOHN P VRANAS (IMMEDIATE PAST PRESIDENT)
  • NONIE BRENNAN (CEO/EXECUTIVE DIR)

Highest reported compensation

  • NONIE BRENNAN (CEO/EXECUTIVE DIR): $142,739 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The emergency fund provides immediate financial assistance to help chicagoans through a crisis or transition.

What it reported doing in 2014

The emergency fund's flexible financial assistance program operates through a network of partner agencies in chicago. Each partner agency receives a monthly allotment. A trained social worker or case manager distributes these dollars in the form of grants to clients who are experiencing a temporary emergency. Checks are written directly to the landlord, service provider, or organization which will solve the crisis or eliminate the need. We cover basic needs such as rent, utilities, food. We also cover expenses that help a person achieve self-sufficiency, such as fees to complete a ged. In 2014, we assisted more than 2,600 households.

Operating model

Revenue model
Grant-funded. 74% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 94% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 31
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.6%; rating input score 93
  • Program expense ratio: 91.5%; rating input score 91
  • Fundraising efficiency: $23.37 raised per $1 spent on fundraising; rating input score 67; 67th percentile among comparable filings

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: 100%; rating input score 100; 70th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 65th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.3%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 0.4; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.49; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 1.1%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: 18% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 19.6% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: -25.1% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 92.6% of revenue deployed · 91.5% of spending went to programs
  • Governance: 23 of 23 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $4.6M in reported program spending
  • Leadership: top reported pay $143K · 24 people listed
  • Consistency: 38 of 38 current checks pass
  • Schedules: 9 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2013 to 2014
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • 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 — Sustainability: Operating margin scored 27/100.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.