Passaic River Rowing Association

Nonprofit profile at a glance

EIN
223652104
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Lyndhurst, NJ, USA
Phone
2012832069
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Swimming & Other Water Recreation

Official website

Reported finances

Revenue
$271,815
Expenses
$304,238
Assets
$233,285
Liabilities
$1,537

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JEFFREY GINGOLD (PRESIDENT)

Highest reported compensation

  • FABIAN CORTES (DIRECTOR): $34,448 total reported compensation

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

Overview

Mission

To foster and promote the sport of rowing, and to encourage the participation in competittive and recreationa rowing; and, in particular, to foster national and international amateur rowing (cont'd on sch o)

What it reported doing in 2024

Community classes: adult learn to row classes introduce new people to the sport of rowing and foster stewardship for the passaic river, serving about 40 people annually. Youth programming provides youth with a safe space to explore the sport of rowing, while giving them space to grow, appreciate the local river environment, and fosters a space for camaraderie and sportsmanship, serving approximately 80 youths annually.

Operating model

Revenue model
Other-operating. 95% of the money available for current operations came from other operating 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 90
  • Accountability: 62
  • Sustainability: 28
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.4%; rating input score 83
  • Program expense ratio: 74.5%; rating input score 75
  • Fundraising efficiency: $10.1 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -11.9%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 0.77; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 11.3%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 16.4% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: -7.3% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 83.4% of revenue deployed · 74.5% of spending went to programs
  • Governance: 6 of 7 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $227K in reported program spending
  • Leadership: top reported pay $34K · 7 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 6 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 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.
  • 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 40/100.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.