Rock River Development Partnership Inc a Not-for-profit Corporation

Nonprofit profile at a glance

EIN
271153597
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2014
Location
Rockford, IL, USA
Phone
8159775124
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$1,025,560
Expenses
$980,442
Assets
$7,157,229
Liabilities
$2,942,034

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

Leadership & pay

8 people listed

Executive titles in this filing

  • CATHERINE MCDERMOTT (EXECUTIVE DIRECTOR AND FINANCE MANAGER)
  • REBECCA BARTLES (EXECUTIVE DIRECTOR UNTIL APRIL 2024)

Highest reported compensation

  • REBECCA BARTLES (EXECUTIVE DIRECTOR UNTIL APRIL 2024): $54,132 total reported compensation
  • CATHERINE MCDERMOTT (EXECUTIVE DIRECTOR AND FINANCE MANAGER): $32,682 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 rock river development partnership brings business and people together to create a thriving economic community. We are entrepreneurial and experiential market makers. Our strategy is to create connections between local entrepreneurs and customers to drive economy to rockford's urban core and historic commercial districts.

What it reported doing in 2024

Our markets bring business and customers together to enrich the community, business, and revive the historic downtown area.

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 68% for direct work, and 32% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 94
  • Accountability: 71
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.3%; rating input score 66
  • Program expense ratio: 63.6%; rating input score 64
  • Fundraising efficiency: $6.3 raised per $1 spent on fundraising; rating input score 24; 24th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 20th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.4%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 7.3; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 8.9%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 19.8% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: 10.6% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 19.3% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 66.3% of revenue deployed · 63.6% of spending went to programs
  • Governance: 6 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $623K in reported program spending
  • Leadership: top reported pay $54K · 8 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 7 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 24/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.