Irok Inc
Nonprofit profile at a glance
- EIN
- 371770955
- IRS 990 coverage
- 2015–2015
- Forms available
- Form 990 2015, Form 990-EZ 2014
- Location
- Akron, OH, USA
- Phone
- 3308193612
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Arts, Cultural Organizations - Multipurpose
Reported finances
- Revenue
- $212,997
- Expenses
- $233,884
- Assets
- $827
- Liabilities
- $21,581
Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- MICHAEL THOMAS (PRESIDENT)
People named in this filing
- MICHAEL THOMAS (PRESIDENT)
- ROBERT THOME (VICE-PRESIDE)
- MICHAEL COYNE (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 2015. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Irok, inc. Was formed to provide a riverfront concert series in downtown cuyahoga falls, Ohio on the historic falls river square. The organization produces 13 weekly friday evening concerts along the banks of the cuyahoga river using both national and local cover bands. The concerts run between memorial day and labor day and are free of charge. Each concert draws a diverse crowd of both residents and non-residents to downtown cuyahoga falls, helping to stimulate the local economy and promote cuyahoga falls as a destination location. A certain portion of the net proceeds from the concert series goes to provide grants for charitable purposes for community outreach programs or from time to time may provide assistance to individuals in the community that have experienced unexpected hardship or trauma from natural disaster, as well as a scholarship program, which is available to cuyahoga falls residents.
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 78% for direct work, and 22% 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 the filing does not identify recipients for some grant dollars.
Rating breakdown
- Financial Efficiency: 99
- Transparency & Controls: 69
- Accountability: 64
- Sustainability: 19
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 98.2%; rating input score 98
- Fundraising efficiency: $531.32 raised per $1 spent on fundraising; rating input score 97; 97th percentile among comparable filings
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 10th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 20.1%; rating input score 20; 34th percentile among comparable filings
- 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: 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: -9.8%; rating input score 22; 22nd percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
- Liabilities to assets ratio: 26.1; rating input score 0; 0th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 73; 73rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 199.8% per year; rating input score 100; 100th percentile among comparable filings
- Asset growth: 144.6% per year; rating input score 100; 100th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 98.2% of spending went to programs
- Governance: 8 of 8 board members independent · 1 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $230K in reported program spending
- Leadership: top reported pay $0 · 8 people listed
- Consistency: 21 of 22 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes major donors and grants
- 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.
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 — Accountability: Governance controls: 5 of 6 not reported.
- High — Transparency & Controls: Grant itemization coverage scored 20/100.
- High — Sustainability: Operating margin scored 22/100.
- High — Sustainability: Total-asset coverage ratio scored 1/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 0/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.