Merrimac River Rowing Assn Inc

Nonprofit profile at a glance

EIN
222547676
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2017
Location
Lowell, MA, USA
Phone
9787467023
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Amateur Sports Competitions

Reported finances

Revenue
$53,625
Expenses
$51,360
Assets
$188,766
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • MARK ROMANOWSKY (Vice President)
  • MATHEW O'BRIEN (President & CEO)

People named in this filing

  • ERIN HELNOLD (Director)
  • DOROTHY SEMONIAN (Director)
  • KATHY MCGOWAN (CLERK)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To encourage amateur sport of rowing, both in its competitive & recreational forms through active rowing, training, regattas, social & organizational participation.

What it reported doing in 2024

Recreational and competitive training in sculling

Operating model

Revenue model
Earned-program. 89% of the money available for current operations came from fees and other program 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 83
  • Accountability: 64
  • Sustainability: 56
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.4%; rating input score 84
  • Program expense ratio: 88.2%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 83.3%; rating input score 83; 4th 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; 64th 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: 4.2%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 3.68; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -0.4% per year; rating input score 0; 50th percentile among comparable filings
  • Revenue growth: -2.7% per year; rating input score 0; 50th percentile among comparable filings
  • Asset growth: 6.5% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 84.4% of revenue deployed · 88.2% of spending went to programs
  • Governance: 8 of 7 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $45K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 17 of 19 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules
  • Filing history: 6 filing years from 2018 to 2024
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Independent members within voting members did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.