River North Residents Association

Nonprofit profile at a glance

EIN
300421775
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3128900273
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$129,018
Expenses
$156,181
Assets
$197,164
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • EILEEN MURRAY (PRESIDENT)

People named in this filing

  • EILEEN MURRAY (PRESIDENT)
  • MICHAEL DOWNS (VICE-PRESIDE)
  • MICHAEL GOLDWATER (TREASURER)

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

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

Overview

Mission

The river north residents association exists to protect and enhance the quality of life in the river north neighborhood through constructive engagement with residents, city officials, local businesses and other stakeholders, with emphasis in six key areas: public safety; responsible development & land use; environment/infrastructure; well-managed hospitality; community events; and supporting local charitable organizations.

What it reported doing in 2024

The association holds a number of events each year for the general public. These include: river north live, a popular riverfront festival that brings the community together by showcasing the area's food, music, art and entertainment; summertime movies in the park; a series of seasonal family- oriented events; periodic social events for members; and an annual meeting and reception. The organization also provides financial and promotional support to selected local non-profit organizations.

Operating model

Revenue model
Earned-program. 67% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 92% 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.2%; rating input score 69
  • Program expense ratio: 56.8%; rating input score 57
  • Fundraising efficiency: $0.86 raised per $1 spent on fundraising; rating input score 5; 5th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -21.1%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 1.26; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 15.4% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 6% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 69.2% of revenue deployed · 56.8% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $89K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 8 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Program expense ratio scored 57/100.
  • High — Financial Efficiency: Fundraising efficiency scored 5/100.
  • High — Sustainability: Operating margin scored 13/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.