The Mighell Fund Inc

Nonprofit profile at a glance

EIN
361868692
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Aurora, IL, USA
Phone
6308965031
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,912,750
Expenses
$2,168,303
Assets
$3,727,109
Liabilities
$277,894

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

Leadership & pay

10 people listed

Executive titles in this filing

  • JOHN CORDOGAN (PRESIDENT)

Highest reported compensation

  • ALEX HAUGHEE (EXECUTIVE DI): $107,357 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 mighell fund's purpose is to provide a secure environment for active, mature adults who want to live independently, where individualism is encouraged and respected.

What it reported doing in 2024

The mighell fund inc provides housing and related services for retired individuals. There are approximately 63 apartments available.

Operating model

Revenue model
Earned-program. 92% 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

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: 87
  • Transparency & Controls: 86
  • Accountability: 95
  • Sustainability: 36
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.2%; rating input score 99
  • Program expense ratio: 83.2%; rating input score 83
  • Fundraising efficiency: $9.49 raised per $1 spent on fundraising; rating input score 36; 36th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -13.4%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 1.72; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 5%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: -1% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 99.2% of revenue deployed · 83.2% of spending went to programs
  • Governance: 9 of 9 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $107K · 10 people listed
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Financial Efficiency: Fundraising efficiency scored 36/100.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.
  • Review — Sustainability: Officer compensation ratio scored 53/100.