Rockford University

Nonprofit profile at a glance

EIN
362167842
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Rockford, IL, United States
Phone
(815) 226-4000
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
University or Technological Institute

Official website

Reported finances

Revenue
$45,611,909
Expenses
$45,858,125
Assets
$67,917,334
Liabilities
$12,612,905

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

Leadership & pay

26 people listed

Executive titles in this filing

  • PATRICIA LYNOTT (PRESIDENT)

Highest reported compensation

  • PATRICIA LYNOTT (PRESIDENT): $311,211 total reported compensation
  • ELIZABETH DAVIES (PROVOST AND VP ACADEMIC AFFAIRS): $172,594 total reported compensation
  • JOHN DIRAIMONDO (VP FINANCE AND CFO): $149,262 total reported compensation

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

Overview

Mission

Rockford University is a private, four-year liberal arts university located in Rockford, Illinois. It offers undergraduate and graduate degrees through its colleges, including the Puri School of Business, and provides a range of academic programs, community-based learning, and study abroad opportunities. The university serves a diverse student body and is known for its Phi Beta Kappa chapter and commitment to academic excellence.

What it reported doing in 2024

Operations and maintenance of plant for four year graduate and undergraduate university.

Operating model

Revenue model
Earned-program. 90% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 63% for direct work, and 37% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 87
  • Accountability: 97
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.4%; rating input score 95
  • Program expense ratio: 94.1%; rating input score 94
  • Fundraising efficiency: $4.7 raised per $1 spent on fundraising; rating input score 19; 19th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 41st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.2%; rating input score 95; 29th 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: -0.5%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 1.48; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 61; 61st percentile among comparable filings
  • Officer compensation ratio: 2.1%; rating input score 76; 76th percentile among comparable filings

Growth

  • Program expense growth: 3.2% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 6.7% per year; rating input score 100; 47th percentile among comparable filings

Details

  • What they do: 5 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 95.4% of revenue deployed · 94.1% of spending went to programs
  • Governance: 20 of 21 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $43.2M in reported program spending
  • Leadership: top reported pay $311K · 26 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.6M reported
  • Consistency: 39 of 39 current checks pass
  • Schedules: 11 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 19/100.
  • High — Sustainability: Operating margin scored 28/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.