Online Lenders Alliance

Nonprofit profile at a glance

EIN
202890680
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Arlington, VA, USA
Phone
7035670327
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$7,857,480
Expenses
$6,934,137
Assets
$7,038,527
Liabilities
$865,496

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

Leadership & pay

24 people listed

Highest reported compensation

  • ANDREW M DUKE (CHIEF EXECUT): $545,383 total reported compensation
  • LIZ JAYANKURA-JONES (CHIEF REVENU): $235,383 total reported compensation
  • MICHAEL F DAY (POLICY DIREC): $222,800 total reported compensation

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

Overview

Mission

Online lenders alliance (ola) is a professional trade association representing the growing industry of online lenders. Ola is vested in the success of its member companies and their customers in all matters related to online financial services. Our mission is to promote a diverse and responsible marketplace for access to innovative online financial services through industry solutions to ensure the safety and security of online transactions; and education, communication, collaboration and advocacy with policy makers and opinion leaders. Ola member companies abide by comprehensive best practices and a code of conduct.

What it reported doing in 2024

Ola conferences provide a forum for information sharing and collaboration amongst online lending professionals around the world. The conferences provide the opportunity to connect with industry leaders, conduct business, learn new strategies to drive change in the industry and learn about innovative products to better serve customers.

Operating model

Revenue model
Earned-program. 98% 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 71
  • Accountability: 79
  • Sustainability: 51
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.6%; rating input score 87
  • 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: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • 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; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 11.8%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 1.02; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 14.5%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 35% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 12.8% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 86.6% of revenue deployed · 100% of spending went to programs
  • Governance: 21 of 21 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $6.9M in reported program spending
  • Leadership: top reported pay $545K · 24 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.8M reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.