Omega Medical Grants Association

Nonprofit profile at a glance

EIN
270383913
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-EZ 2024
Location
Rosemont, IL, USA
Phone
8473187482
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$12,976
Expenses
$172,016
Assets
$152,219
Liabilities
$108,394

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

Leadership & pay

10 people listed

Executive titles in this filing

  • PAUL T RUBERY MD (PRESIDENT)
  • KRISTIN GLAVIN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KRISTIN GLAVIN (EXECUTIVE DIRECTOR): $514,201 total reported compensation

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

Overview

Mission

Omega medical grants association awards and administers grants for graduate orthopaedic medical education through an open, accessible process designed to safeguard against potential conflicts of interest and to ensure transparency in the allocation of resources.

What it reported doing in 2024

Financial support of orthopaedic fellowships and cme scholarships. The program ended for the 2023-2024 fellowship cycle and did not accept any grant support in 2024.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 83% 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. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 72
  • Accountability: 90
  • Sustainability: 11
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 76.2%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 6 of 8 controls in place; rating input score 75
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1,225.6%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.88; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.71; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 65.8%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -0% per year; rating input score 0; 51st percentile among comparable filings
  • Revenue growth: -3.7% per year; rating input score 0; 47th percentile among comparable filings
  • Asset growth: -4.9% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 76.2% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $131K in reported program spending
  • Leadership: top reported pay $514K · 10 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Sustainability: Operating margin scored 5/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.