North Business & Industrial Council of Chicago Norbic

Nonprofit profile at a glance

EIN
362864028
IRS 990 coverage
2009–2015
Forms available
Form 990 2015
Location
Chicago, IL, USA
Phone
7735949292
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Small Business Development

Official website

Reported finances

Revenue
$1,283,480
Expenses
$1,311,892
Assets
$914,643
Liabilities
$969,319

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • PAM MCDONOUGH (President & CEO)

Highest reported compensation

  • PAM MCDONOUGH (President & CEO): $112,001 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote job growth and community advancement through the execution of government sponsored programs and grants to provide professional and technical services to manufactures located in the state of illinois' northeast economic development region.

What it reported doing in 2015

Small business development center- funded thorough the Illinois dceo. This program is used to help get new business started assist with financial matters, marketing, international trade reporting, customs assistance and creating jobs. In addition is focused on generating goods and services to federal, state, and local governments.

Operating model

Revenue model
Grant-funded. 69% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 90% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 96
  • Accountability: 93
  • Sustainability: 30
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.3%; rating input score 94
  • Program expense ratio: 92.3%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 15th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 74th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 20th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -2.2%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0.7; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 1.06; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 8.5%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: -6.4% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: 10.4% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 34.1% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 94.3% of revenue deployed · 92.3% of spending went to programs
  • Governance: 7 of 8 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.2M in reported program spending
  • Leadership: top reported pay $112K · 8 people listed
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2009 to 2015
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 9 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.

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 — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 29/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.