Pig Works Inc
Nonprofit profile at a glance
- EIN
- 311571531
- IRS 990 coverage
- 2009–2025
- Forms available
- Form 990 2025
- Location
- Cincinnati, OH, USA
- Phone
- 5137217447
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Human Service Organizations
Reported finances
- Revenue
- $9,208,838
- Expenses
- $7,526,118
- Assets
- $4,235,657
- Liabilities
- $905,528
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
29 people listed
Executive titles in this filing
- IRIS SIMPSON-BUSH (EXECUTIVE DIRECTOR)
- DOUG OLBERDING (PRESIDENT & CEO)
Highest reported compensation
- DOUG OLBERDING (PRESIDENT & CEO): $155,000 total reported compensation
- JOHN CAPPELA (CHIEF OPERATING OFFICER): $152,854 total reported compensation
- SARAH PELFREY (VP SALES & PARTNERSHIPS): $118,747 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To create an economically viable, first class and fun marathon for the participants, volunteers, spectators, and sponsors.
What it reported doing in 2025
Host annual flying pig marathon and additional races that raise money for charities.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 78% for direct work, and 22% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
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: 70
- Transparency & Controls: 71
- Accountability: 91
- Sustainability: 47
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 73.5%; rating input score 74
- Program expense ratio: 88.2%; rating input score 88
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 93.8%; rating input score 94; 21st percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 18.3%; rating input score 70; 70th percentile among comparable filings
- Total-asset coverage ratio: 0.56; rating input score 19; 19th percentile among comparable filings
- Liabilities to assets ratio: 0.21; rating input score 34; 34th percentile among comparable filings
- Officer compensation ratio: 8.5%; rating input score 38; 38th percentile among comparable filings
Growth
- Program expense growth: 2.3% per year; rating input score 100; 21st percentile among comparable filings
- Revenue growth: 5.9% per year; rating input score 100; 44th percentile among comparable filings
- Asset growth: 3.8% per year; rating input score 100; 26th percentile among comparable filings
Details
- Where the money goes: 73.5% of revenue deployed · 88.2% of spending went to programs
- Governance: 21 of 21 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $6.6M in reported program spending
- Leadership: top reported pay $155K · 29 people listed · 2 of 6 pay-setting controls reported
- Consistency: 30 of 30 current checks pass
- Schedules: 7 filed schedules · includes major donors and executive pay
- Filing history: 14 filing years from 2009 to 2025
- Contacts: How to reach this organization
- Money network: 6 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: 2 of 9 not reported.
- High — Sustainability: Total-asset coverage ratio scored 19/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 34/100.
- Moderate — Sustainability: Officer compensation ratio scored 38/100.