Global Market Development Center Co Keeley Kuenn & Reid

Nonprofit profile at a glance

EIN
362698078
IRS 990 coverage
2013–2022
Forms available
Form 990 2022
Location
Chicago, IL, USA
Phone
7195764260
Rating
27
Verdict
REVIEW
Rating confidence
Moderate

Official website

Reported finances

Revenue
$191,881
Expenses
$842,517
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • PATRICK SPEAR (President)
  • JAMES ENGSTROM (Vice President)

Highest reported compensation

  • PATRICK SPEAR (President): $202,351 total reported compensation
  • JAMES ENGSTROM (Vice President): $184,903 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See part iii, line 1 and schedule o

What it reported doing in 2022

Hbw conference - marketing conference for distributors and suppliers of non-food products - attendance was virtual due to covid-19. No conference was held in 2022. Any activity during 2022 was a result of winding up affairs.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program 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

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 1
  • Transparency & Controls: 71
  • Accountability: 26
  • Sustainability: 1
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 2.2%; rating input score 2
  • Program expense ratio: 0.1%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -339.1%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 46%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -10.9% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -12.7% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -16.7% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 2.2% of revenue deployed · 0.1% of spending went to programs
  • Governance: 0 of 2 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $202K · 2 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2013 to 2022
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 2/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Sustainability: Operating margin scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.