Marquette Foreign Exchange Company

Nonprofit profile at a glance

EIN
463003953
IRS 990 coverage
2014–2022
Forms available
Form 990 2022
Location
Michigan City, IN, USA
Phone
2192104507
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$534,781
Expenses
$664,333
Assets
$181,221
Liabilities
$0

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

Leadership & pay

1 person listed

Executive titles in this filing

  • DOUG BOBILLO (PRESIDENT)

People named in this filing

  • DOUG BOBILLO (PRESIDENT)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Marquette foreign exchange company operates a dormitory that provides room, board, and educational opportunities to students residing in it. All persons residing in the dormitory must be a student enrolled at marquette high school.

What it reported doing in 2022

Marquette foreign exchange company operates a student dormitory for students of marquette high school, a 501(c)(3) entity. The company has operated the dormitory since august 2013. The dormitory provides room, board, and educational opportunities to students residing in it. Every person residing at the dormitory must be a student enrolled with marquette high school.

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

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 28
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 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: -24.2%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.27; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: -12.6% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -13.2% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -12% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 1 of 1 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $664K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2014 to 2022
  • 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: Operating margin scored 8/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • High — Growth: Asset growth scored 0/100.