Shorebank Neighborhood Institute

Nonprofit profile at a glance

EIN
362961829
IRS 990 coverage
2010–2010
Forms available
Form 990 2010
Location
Chicago, IL, USA
Phone
3128815830
Rating confidence
Limited
Sector
Community Service Clubs

Reported finances

Revenue
$434,404
Expenses
$203,037
Assets
$1,414,157
Liabilities
$59,103

Source: IRS Form 990. Selected filing: tax year 2010. Amounts in USD.

Leadership & pay

8 people listed

Source: IRS Form 990. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Organized in 1978 as a community development corporation with the mission of promoting the social and economic welfare of low to moderate income residents of urban neighborhoods. activities have traditionally included programs that focus on education, weatherization, lending, and wealth creation strategies.

What it reported doing in 2010

Programs include the management of two closed-end loan funds; one for small businesses and one for low-income home weatherization. The organization also supports early stage development of intergenerational communities through the guarantee of high risk loans. Through the h-rail program, the organization provides ramps for low income disabled individiuals and the elderly.

Operating model

Revenue model
Donor-supported. 70% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 91
  • Accountability: 63
  • Sustainability: 84
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 7th 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: 57.1%; rating input score 57; 16th 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: 53.3%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 6.97; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 75; 75th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 4 of 7 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $193K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

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

  • Review — Accountability: Independent voting board scored 57/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.