The Credit Roundtable Association

Nonprofit profile at a glance

EIN
834087373
IRS 990 coverage
2022–2025
Forms available
Form 990 2025, Form 990-EZ 2021
Location
Fairfield, CT, USA
Phone
9143320040
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$221,524
Expenses
$224,977
Assets
$547,491
Liabilities
$37,917

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

11 people listed

People named in this filing

  • Chris Gootkind (Board Member)
  • Gabe Crump (Board Member)
  • Spencer Godfrey (Board Member)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Credit Roundtable Association (CRT) is a membership organization committed to enhancing bondholder protections through education, outreach and advocacy. CRT shall be devoted to the improvement of general business conditions in the institutional bond market including, among others:1)educating investors, issuers, underwriters, regulators, and other market participants to the value of bondholder covenant protections and advocating for the inclusion, standardization, and preservation of covenant protections in bond indentures,2)identifying enhancements to, advocating for the implementation of improvements to the new issue bond underwriting and distribution process,3)implementing enhancements to the bond tender/exchange and consent process,4)promulgating improvements in disclosure and transparency,5)pursuing any lawful act or activity and, exercising any powers afforded to nonprofit, nonstock corporations in the State of DE, in furtherance of its above-stated mission.

What it reported doing in 2025

Programming includes monthly member conference calls, in-person meetings with regulators and two annual conferences (one in the spring, and one in the fall). In additon, members work together on tasks forces and bondholder groups. CRT also participated on writing comment letters and white papers, and also conducting surveys, on behalf of its members and the broader institutional investor commmunity.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 90
  • Accountability: 58
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.5%; rating input score 90
  • Program expense ratio: 88.8%; rating input score 89
  • Fundraising efficiency: Limited

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; 64th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.6%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 2.43; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 16.9% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 5.3% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 10.6% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 89.5% of revenue deployed · 88.8% of spending went to programs
  • Governance: 44 of 44 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $200K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2022 to 2025
  • 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.

  • High — Accountability: Governance controls: 6 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.