Xchange Chicago Inc

Nonprofit profile at a glance

EIN
923697606
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Chicago, IL, USA
Phone
2026185012
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Official website

Reported finances

Revenue
$6,061,909
Expenses
$1,291,401
Assets
$10,077,727
Liabilities
$5,409,582

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

Leadership & pay

3 people listed

Executive titles in this filing

  • GREGORY MOONEY (PRESIDENT/DIRECTOR)

People named in this filing

  • GREGORY MOONEY (PRESIDENT/DIRECTOR)
  • CHARLES WHITAKER (SECRETARY/DIRECTOR)
  • MONICA CARNEY (TREASURER/DIRECTOR)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To realize a more equitable and inclusive economy by advancing innovative workforce solutions that equip local residents with the skills and resources to access high-growth employment opportunities in tech and other rapidly growing fields with high earning potential.

What it reported doing in 2024

Xchange chicago creates more powerful opportunities for diverse talent, commercial growth and community impact. The primary objective of xchange is to realize a more equitable and inclusive economy by advancing innovative workforce solutions that equip local residents with the skills and resources to access high-growth employment opportunities in tech and other rapidly growing fields with high earning potential

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 43% for direct work, and 57% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 45
  • Transparency & Controls: 100
  • Accountability: 88
  • Sustainability: 85
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 21.4%; rating input score 21
  • Program expense ratio: 100%; rating input score 100
  • 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 78.7%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 7.8; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 199.7% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: 195.3% per year; rating input score 100; 100th percentile among comparable filings

Details

  • Where the money goes: 21.4% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and related organizations
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

  • High — Financial Efficiency: Mission deployment rate scored 21/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.