Princeton National Rowing Association

Nonprofit profile at a glance

EIN
223745915
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Princeton Junction, NJ, USA
Phone
6097997100
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Amateur Sports

Official website

Reported finances

Revenue
$5,054,760
Expenses
$1,659,915
Assets
$7,743,667
Liabilities
$128,673

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

Leadership & pay

8 people listed

Executive titles in this filing

  • KRISTOPHER GRUDT (EXECUTIVE DIRECTOR/SECRETARY)
  • RONALD CHEN (PRESIDENT)
  • JAMES MILLAR (VICE PRESIDENT)

Highest reported compensation

  • KRISTOPHER GRUDT (EXECUTIVE DIRECTOR/SECRETARY): $131,171 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 mission of Princeton National Rowing Association is to provide a venue where athletes of all ages, talents and backgrounds have the opportunity to develop their rowing abilities to their highest potential.Core Implementation Principles1) Maintaining and constantly seeking to improve one of the nation's premier rowing venues.2) Providing a world class training facility for all PNRA constituents including Olympic and elite team members, local students and Masters rowers.3) Promoting opportunities for area youth to excel in the sport of rowing.4) Conducting top level regattas and events5) Supporting community development across greater Mercer County through targeted rowing programs.

What it reported doing in 2024

The Princeton National Rowing Association (PNRA) operates the Mercer Junior Rowing Club which provides opportunities for 200 student athletes from over 30 area high schools to benefit from the structure, discipline and exercise of rowing. The Mercer Junior Rowing Club competes locally, nationally, and internationally. As part of its mission, PNRA works with local community groups and Trenton area schools to enable student athletes from the urban Trenton area to benefit from the sport of rowing. These outreach activities include dedicated programs for middle school students and integrating high school age students into the Mercer Junior Rowing Program. PNRA's outreach activities include integrating rowing as a part of the physical education curriculum in the schools, the Swim to Row Program, a STEM to Stern Program, Capital Area Indoor Rowing League and partnering with other community groups.

Operating model

Revenue model
Donor-supported. 63% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 86
  • Accountability: 93
  • Sustainability: 83
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 30.1%; rating input score 30
  • Program expense ratio: 92.4%; rating input score 92
  • Fundraising efficiency: $223.66 raised per $1 spent on fundraising; rating input score 92; 92nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 19th percentile among comparable filings
  • Governance controls: 8 of 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 67.2%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 4.67; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 7.9%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 9.4% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: 6% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 30.1% of revenue deployed · 92.4% of spending went to programs
  • Governance: 7 of 8 board members independent · 8 of 8 filing controls reported
  • Programs: 5 filed program accomplishments · $1.5M in reported program spending
  • Leadership: top reported pay $131K · 8 people listed
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 30/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.