Hogs and Rags Inc

Nonprofit profile at a glance

EIN
813070210
IRS 990 coverage
2017–2017
Forms available
Form 990 2017
Location
Chapel Hill, NC, USA
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$48,416
Expenses
$44,910
Assets
$11,634
Liabilities
$16,500

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

Leadership & pay

1 person listed

People named in this filing

  • GARDNER H ALTMAN JR (BOARD PRESID)

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

Hogs & rags rally is the largest escorted motorcycle and car rally in North Carolina. The organization is dedicated to supporting local charities and nonprofit organizations that serve the local fayetteville and cumberland county community and enhance quality of life.

What it reported doing in 2017

Hogs and rags rally is the largest escorted motorcycle and car rally in North Carolina. The organization is dedicated to supporting local charities and nonprofit organizations that serve the local fayetteville and cumberland county community and enhance the quality of life.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. 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: 90
  • Transparency & Controls: 87
  • Accountability: 64
  • Sustainability: 42
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.6%; rating input score 89
  • Program expense ratio: 95.5%; rating input score 95
  • Fundraising efficiency: $31.26 raised per $1 spent on fundraising; rating input score 77; 77th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 15th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 7.2%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 0.26; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 1.42; rating input score 3; 3rd 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: 88.6% of revenue deployed · 95.5% of spending went to programs
  • Governance: 5 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $43K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes grants
  • Contacts: How to reach this organization
  • 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: 5 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • Moderate — Transparency & Controls: Independent members within voting members did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.