Prairie Education & Research Cooperative

Nonprofit profile at a glance

EIN
371157915
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Springfield, IL, USA
Phone
2174929100
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Heart, Circulatory Research

Official website

Reported finances

Revenue
$3,044,537
Expenses
$3,469,005
Assets
$4,614,214
Liabilities
$282,791

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

Leadership & pay

12 people listed

Executive titles in this filing

  • JENNY CHAMBERS (Executive Director - PERC)

Highest reported compensation

  • Bharath Rajagopalan MD (Board Member / Physician): $1,399,133 total reported compensation
  • AVINASH MURTHY MD (Board Member / Physician): $1,029,753 total reported compensation
  • Michael Scialdone (Treasurer / HSHS SVP & CFO): $912,947 total reported compensation

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

Overview

Mission

The purpose of the organization is to engage in active continuous medical research to further the understanding of applications of new modes of therapy for cardiovascular disease, diabetes and neurological disorders.

What it reported doing in 2024

Participate in Phase I-IV clinical trials as an enrolling site in a wide range of therapeutic areas with a focus on cardiovascular, diabetes, and neurology research. Trials are sponsored and funded by device and pharmaceutical companies. Participated in approximately 38 cardiovascular trials, 11 diabetes trials, and 15 neurology trials in FY 2025. Conduct Clinical Events Committee (CEC) and Data and Safety Monitoring Board (DSMB) management for medical device sponsors. Provide individuals with expertise to advise the sponsor on the continuing safety of trial subjects. Provide oversight of trial data to determine that sponsors are compliant with conducting trials that are ethical, safe for subjects, and produce good, reliable data. Provided CEC/DSMB management for approximately 3 clinical trials in FY 2025.

Operating model

Revenue model
Other-operating. 97% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 90
  • Accountability: 67
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.7%; rating input score 98
  • Program expense ratio: 86%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 7th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • 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: 44.4%; rating input score 44; 7th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -13.9%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 1.33; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 64%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 2.3% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: 1.3% per year; rating input score 100; 17th percentile among comparable filings

Details

  • Where the money goes: 97.7% of revenue deployed · 86% of spending went to programs
  • Governance: 4 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $3M in reported program spending
  • Leadership: top reported pay $1.4M · 12 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 32 filed related-organization links
  • 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.

  • Moderate — Accountability: Independent voting board scored 44/100.
  • High — Sustainability: Operating margin scored 10/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 1/100.