Turnaround Management Association

Nonprofit profile at a glance

EIN
561596880
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3125786900
Rating confidence
Limited

Official website

Reported finances

Revenue
$5,434,030
Expenses
$6,079,258
Assets
$7,144,402
Liabilities
$3,519,239

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

Leadership & pay

25 people listed

Executive titles in this filing

  • ALLEN WILEN (PRESIDENT)
  • RACHAEL L SMILEY (PRESIDENT ELECT)
  • JANINE FIGUEIREDO (VICE PRESIDENT - DE&I)
  • SCOTT Y STUART (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • SCOTT Y STUART (CHIEF EXECUTIVE OFFICER): $479,603 total reported compensation
  • JODI TALLEY (SENIOR DIRECTOR OF MARKETING): $143,738 total reported compensation
  • THOMAS JURCZAK ENDS 92524 (SENIOR DIRECTOR OF FINANCE): $137,470 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 association provides educational opportunities and networking forums to exchange information, ideas, and knowledge about corporate renewal and the turnaround industry.

What it reported doing in 2024

The association promotes the many facets of the turnaround industry through public forums, traditional communication pieces and web-based offerings, while also providing educational and networking opportunities through its periodical, journal of corporate renewal and other miscellaneous publications and newsletters. These vehicles provide the overall branding of the industry in the corporate marketplace, thereby promoting the various businesses that comprise the turnaround industry.

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
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: 55
  • Accountability: 86
  • Sustainability: 23
  • Growth: 60

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; 3rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -11.9%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 1.18; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.49; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 14.4%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0.7% per year; rating input score 100; 14th percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 21 of 21 board members independent · 6 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $480K · 25 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes foreign activity and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 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.
  • 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.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Sustainability: Operating margin scored 11/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.