Math Circles of Chicago

Nonprofit profile at a glance

EIN
452071512
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2015
Location
Chicago, IL, USA
Phone
7739683141
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,064,249
Expenses
$1,044,104
Assets
$470,992
Liabilities
$23,822

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • DOUGLAS O'ROARK (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DOUGLAS O'ROARK (EXECUTIVE DIRECTOR): $136,984 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Math circles of chicago creates opportunities for all children across chicago to develop a passion for mathematics.

What it reported doing in 2024

We provide bi-weekly math enrichment programs at 6 hubs around chicago during the academic year, along with 43 after school programs, from september to may, serving over 1,100 children in grades 3-12. 91% of participating students were highly satisfied with these programs

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.3%; rating input score 67
  • Program expense ratio: 68.4%; rating input score 68
  • Fundraising efficiency: $10.27 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

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: 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.9%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 0.45; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 13.1%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 28.9% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 22.6% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 16.1% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 67.3% of revenue deployed · 68.4% of spending went to programs
  • Governance: 12 of 12 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $714K in reported program spending
  • Leadership: top reported pay $137K · 13 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 39/100.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.