Lodgic Workplace Inc

Nonprofit profile at a glance

EIN
320530137
IRS 990 coverage
2020–2022
Forms available
Form 990 2022
Location
Mooseheart, IL, USA
Phone
6308592000
Rating
44
Verdict
MIXED
Rating confidence
Moderate
Sector
Community Service Clubs

Official website

Reported finances

Revenue
$1,429,783
Expenses
$1,297,756
Assets
$0
Liabilities
$2,412,366

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Scott D Hart (Director and President)

Highest reported compensation

  • Scott D Hart (Director and President): $317,647 total reported compensation
  • Joseph R Mech (Director and Secretary/Treasurer): $211,571 total reported compensation
  • Michael A Rios Jr (Director): $167,742 total reported compensation

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

Overview

Mission

Lodgic Workplace is an open coworking environment designed to cultivate collaboration and shared economic opportunity through proximity of its members.

What it reported doing in 2022

Operation of Lodgic Workplace, a productive professional working collective of independent workers, businesses, families, and kids who believe that communities can thrive more, aspire more, achieve more, and enjoy more when they work together.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating 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

MIXED - The filed numbers largely add up. A relatively small share of voting board members are independent and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 60
  • Accountability: 9
  • Sustainability: 34
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.9%; rating input score 56
  • Program expense ratio: 61.6%; rating input score 62
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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; 4th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.2%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 7.1%; rating input score 47; 47th percentile among comparable filings

Growth

  • Program expense growth: -47.5% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: 49.4% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: -121.8% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 55.9% of revenue deployed · 61.6% of spending went to programs
  • Governance: 0 of 3 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $800K in reported program spending
  • Leadership: top reported pay $318K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 42 of 42 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 3 filing years from 2020 to 2022
  • Contacts: How to reach this organization
  • Related organizations: 4 filed related-organization links
  • 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: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 47/100.