Xchange Chicago Support Corporation
Nonprofit profile at a glance
- EIN
- 992756719
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024
- Location
- Chicago, IL, USA
- Phone
- 3124914460
- Rating
- 60
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Single Organization Support
Reported finances
- Revenue
- $735,763
- Expenses
- $36,729
- Assets
- $15,023,104
- Liabilities
- $14,324,070
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- GREGORY MOONEY (PRESIDENT)
People named in this filing
- GREGORY MOONEY (PRESIDENT)
- MONICA CARNEY (TREASURER)
- CHARLES WHITAKER (SECRETARY)
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
The corporation is organized and will be operated at all times exclusively for the benefit of, to perform the functions of, and/or to carry out the purposes of xchange chicago, inc. (the "sponsor"). The sponsor is organized and operated exclusively for charitable and educational purposes, including providing access to skills training in technology, health care and hospitality for underserved and underinvested communities on chicago's south side.
What it reported doing in 2024
The corporation's only activities are to (i) acquire and hold title to land and an existing facility located at 7247-7257 s. South chicago avenue, chicago, Illinois 60619 in chicago's woodlawn neighborhood in an area known as grand crossing (the "property"), (ii) renovate and improve the property to serve as a hub for technology skills training and job creation (the "project"), (iii) obtain financing to develop the property, including borrowing low-interest rate funds from third-party lenders, and (iv) lease the project to its related party sponsor for operation in furtherance of the sponsor's above described charitable and educational purposes. The corporation's development and lease of the project will allow the sponsor to expand its activities, providing access to job training, technical and computer-related skills, information technology and computer engineering apprenticeship programs, as well as educational health and social services, resources, and holistic support with its community partners.
Operating model
- Revenue model
- Affiliate-supported. 100% of the money available for current operations came from contributions from related organizations.
- 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 - 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: 27
- Transparency & Controls: 92
- Accountability: 88
- Sustainability: 86
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 3.8%; rating input score 4
- Program expense ratio: 73.8%; rating input score 74
- 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: 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: 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: 95%; rating input score 99; 99th percentile among comparable filings
- Total-asset coverage ratio: 409.03; rating input score 100; 100th percentile among comparable filings
- Liabilities to assets ratio: 0.95; rating input score 6; 6th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 3.8% of revenue deployed · 73.8% of spending went to programs
- Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $27K in reported program spending
- Leadership: top reported pay $0 · 5 people listed
- Consistency: 19 of 19 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: 1 filed related-organization link
- 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 4/100.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- High — Sustainability: Liabilities to assets ratio scored 6/100.