Franchise Owners Association of Chicagoland
Nonprofit profile at a glance
- EIN
- 364410454
- IRS 990 coverage
- 2016–2024
- Forms available
- Form 990 2024
- Location
- Schaumburg, IL, USA
- Phone
- 8479754578
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $986,297
- Expenses
- $787,515
- Assets
- $1,046,258
- Liabilities
- $32,366
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- Jaimin Pandya (President)
- Hitesh Doshi (Vice President)
Highest reported compensation
- Jaimin Pandya (President): $41,000 total reported compensation
- Katen Patel (Director): $36,600 total reported compensation
- Ronak Desai (Director): $33,242 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To assist Chicago area 7 Eleven franchisees
What it reported doing in 2024
Franchisee magazine-Bi-monthly magazine sent free to franchiseesregarding issues important to franchisees. Revenue is generated from advertisingplaced by vendors.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 93% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 64
- Transparency & Controls: 93
- Accountability: 68
- Sustainability: 58
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 66.2%; rating input score 66
- Program expense ratio: 82.4%; rating input score 82
- 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: 98.9%; rating input score 99; 47th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 2 of 9 controls in place; rating input score 22
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 20.2%; rating input score 76; 76th percentile among comparable filings
- Total-asset coverage ratio: 1.33; rating input score 52; 52nd percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 58; 58th percentile among comparable filings
- Officer compensation ratio: 40.3%; rating input score 3; 3rd percentile among comparable filings
Growth
- Program expense growth: 20.8% per year; rating input score 100; 83rd percentile among comparable filings
- Revenue growth: 8.8% per year; rating input score 100; 62nd percentile among comparable filings
- Asset growth: 6.8% per year; rating input score 100; 47th percentile among comparable filings
Details
- Where the money goes: 66.2% of revenue deployed · 82.4% of spending went to programs
- Governance: 15 of 15 board members independent · 2 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $649K in reported program spending
- Leadership: top reported pay $41K · 13 people listed
- Consistency: 23 of 23 current checks pass
- Schedules: 4 filed schedules · includes grants
- Filing history: 9 filing years from 2016 to 2024
- Contacts: How to reach this organization
- Money network: 18 filed money-flow records
- Related organizations: 5 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.
- High — Accountability: Governance controls: 7 of 9 not reported.
- Review — Sustainability: Total-asset coverage ratio scored 52/100.
- High — Sustainability: Officer compensation ratio scored 3/100.
- Review — Sustainability: Liabilities to assets ratio scored 58/100.