Greater Midwest Lenders Association

Nonprofit profile at a glance

EIN
363677341
IRS 990 coverage
2017–2017
Forms available
Form 990 2017
Location
Palos Heights, IL, USA
Phone
6309167720
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$17,134
Expenses
$18,699
Assets
$133,694
Liabilities
$64,960

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • TUCK MARSHALL (President)

People named in this filing

  • CAROL GARDNER (Secretary)
  • TUCK MARSHALL (President)
  • RON DRABECK (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promote Mortgage Brokerage in Illinois

What it reported doing in 2017

Education, seminars and conventions

Operating model

Revenue model
Membership-supported. 88% of the money available for current operations came from membership dues.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. 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: 46
  • Transparency & Controls: 78
  • Accountability: 88
  • Sustainability: 47
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53.8%; rating input score 54
  • Program expense ratio: 49.3%; rating input score 49
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 77.8%; rating input score 78; 1st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: Fail

Sustainability

  • Operating margin: -9.1%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 7.15; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.49; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 53.8% of revenue deployed · 49.3% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 15 of 17 current checks pass · 2 findings to review
  • Schedules: 3 filed schedules
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 49/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX DepreciationDepletion column sum did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.