Institute For Positive Living

Nonprofit profile at a glance

EIN
364386670
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Chicago, IL, USA
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$1,052,420
Expenses
$1,043,865
Assets
$237,118
Liabilities
$178,076

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Marrice Coverson (Executive Director)

Highest reported compensation

  • Todd Barnett (Director of Strategy): $130,000 total reported compensation
  • Charlotte Barnett (Finance Director): $99,620 total reported compensation
  • Marrice Coverson (Executive Director): $84,647 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote the quailty of community life with special focus on helping families in low income Chicago comminites to solve educational, social, and economic problems.

What it reported doing in 2023

The organization primary program is (Open Book Program) which is designed to create a love of reading and the development of an appreciation for the world of ideas.

Operating model

Revenue model
Grant-funded. 88% of the money available for current operations came from government grants.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 86
  • Accountability: 100
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.2%; rating input score 93
  • Program expense ratio: 93.9%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • 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: 0.8%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 0.23; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 30.1%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 22.9% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 7.1% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 93.2% of revenue deployed · 93.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $981K in reported program spending
  • Leadership: top reported pay $130K · 10 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 9 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • Moderate — Sustainability: Operating margin scored 40/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.