Polar Merchandise Llc

Nonprofit profile at a glance

EIN
272573390
IRS 990-EZ coverage
2021–2021
Forms available
Form 990-EZ 2021
Location
Ada, OH, USA
Phone
4197722070
Rating
36
Verdict
REVIEW
Rating confidence
Moderate
Sector
Education N.E.C.

Reported finances

Revenue
$1,414
Expenses
$1,196
Assets
$16,441
Liabilities
$337

Source: IRS Form 990-EZ. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • Alex Kurtz (Chief Executive Officer)

People named in this filing

  • Dr John Navin (Chairman of the Board)
  • Prof Kevin Ernst (Advisor and Director)
  • Asst Dean Christy Beaschler (Board Member)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Polar Merchandise LLC under the umbrella of Polar Enterprises, LLC, was established in 2009/2010 academic year to sell promotional items with Ohio Northern University's and associated colleges' logos to various student and campus organizations. Polar Merchandise "employed" for the 2021-2022 academic year are 1 CEO, 1 CFO, 1 accountant, 1 graphic designer, and 4 sales reps. All positions are held by ONU students. They manage and operate the student-run business under the Polar Enterprises umbrella with the support and mentoring of the Dicke College of Business faculty. This experience exposes students to all aspects of starting and running an entrepreneurial business. It provides students with practical application of classroom materials in a supportive environment. Students will have an enhanced understanding of entrepreneurship, while improving applied business knowledge through running a small business with fellow students, faculty, customers, and local businesses.

What it reported doing in 2021

Polar Merchandise exposes students to all aspects of starting and running an entrepreneurial business. It provides students with practical application of classroom materials in a supportive environment.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 82
  • Sustainability: 60
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 15.4%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 13.75; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 10.4%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 8 of 9 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Transparency & Controls: Part III transfer expenses within program total did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.