Generations College Inc
Nonprofit profile at a glance
- EIN
- 362581098
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- Chicago, IL, USA
- Phone
- 3129221884
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Undergraduate College (4-year)
Reported finances
- Revenue
- $6,097,599
- Expenses
- $6,762,891
- Assets
- $5,677,516
- Liabilities
- $2,961,666
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- MATT GAWENDA (PRESIDENT (THRU 7/24))
Highest reported compensation
- DR GRACE ALEXIS (CHANCELLOR): $277,176 total reported compensation
- JOE PAINTER (DEAN OF ADMISSIONS): $106,575 total reported compensation
- MATT GAWENDA (PRESIDENT (THRU 7/24)): $93,063 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Generations college is a private, nonprofit institution whose mission is to provide a transformative educational experience to its diverse student body in an environment that promotes learning and encourages, empowers, and nurtures the well-being of the whole person. Our comprehensive academic programs challenge students to excel in their academic and career pursuits and prepare students to be lifelong learners and responsible citizens in a global society.
What it reported doing in 2024
Instructional, academic support, and student services.
Operating model
- Revenue model
- Earned-program. 98% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 67% for direct work, and 33% for grants.
The verdict
STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 70
- Transparency & Controls: 95
- Accountability: 100
- Sustainability: 22
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 81.2%; rating input score 81
- Program expense ratio: 74.1%; rating input score 74
- Fundraising efficiency: $1.85 raised per $1 spent on fundraising; rating input score 5; 5th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 6 of 6 controls in place; rating input score 100
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd 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: 9 of 9 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: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -10.9%; rating input score 12; 12th percentile among comparable filings
- Total-asset coverage ratio: 0.84; rating input score 31; 31st percentile among comparable filings
- Liabilities to assets ratio: 0.52; rating input score 20; 20th percentile among comparable filings
- Officer compensation ratio: 7.6%; rating input score 39; 39th percentile among comparable filings
Growth
- Program expense growth: 0.2% per year; rating input score 100; 14th percentile among comparable filings
- Revenue growth: 2.3% per year; rating input score 100; 22nd percentile among comparable filings
- Asset growth: 12.7% per year; rating input score 100; 68th percentile among comparable filings
Details
- Where the money goes: 81.2% of revenue deployed · 74.1% of spending went to programs
- Governance: 4 of 4 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $5M in reported program spending
- Leadership: top reported pay $277K · 8 people listed · 6 of 6 pay-setting controls reported
- Consistency: 33 of 33 current checks pass
- Schedules: 6 filed schedules · includes grants and executive pay
- Filing history: 14 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 4 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
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 — Financial Efficiency: Fundraising efficiency scored 5/100.
- High — Sustainability: Operating margin scored 12/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
- High — Sustainability: Liabilities to assets ratio scored 20/100.
- Moderate — Sustainability: Officer compensation ratio scored 39/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.