TR Aqua Via Corp C/O Barings LLC

Nonprofit profile at a glance

EIN
453717665
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Charlotte, NC, USA
Phone
7048057200
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Real Estate Associations

Reported finances

Revenue
$1,815,249
Expenses
$1,742,073
Assets
$35,762,556
Liabilities
$195,734

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

Leadership & pay

2 people listed

Highest reported compensation

  • BARINGS LLC (NON-MEMBER MANAGER): $2,405,082 total reported compensation

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

Overview

Mission

To operate as a title holding corporation within in the meaning of section 501(c)(25) & hold title

What it reported doing in 2024

Tr aqua via corp. Operates as a title holding corporation within the meaning of irc section 501(c)(25) and holds title to real property on behalf of teachers' retirement system of the state of Illinois (retirement system). The organization collects the income from the property and remits it to the retirement system.

Operating model

Revenue model
Other-operating. 94% of the money available for current operations came from other operating revenue.
Distribution model
Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.

The verdict

STRONG - 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: 81
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 65
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.1%; rating input score 90
  • Program expense ratio: 93.9%; rating input score 94
  • Fundraising efficiency: Limited

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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 20.53; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 6.1%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 63.9% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 39.6% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: -10.1% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 90.1% of revenue deployed · 93.9% of spending went to programs
  • Governance: 2 of 2 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $2.4M · 2 people listed
  • Highest-paid contractors: 4 contractors listed · $1.1M reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 51 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: 3 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.