Chicago Rowing Foundation
- Assets
- $1.3m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 31
- Location
- Chicago, IL
- Founding
- 09/1981
- Data as of
- 08/2023
- EIN
- 36-3137851
Organization Overview
Chicago Rowing Foundation is located in Chicago, IL. The organization was established in 1981. According to its NTEE Classification (N11) the organization is classified as: Single Organization Support, under the broad grouping of Recreation & Sports and related organizations. As of 08/2023, Chicago Rowing Foundation employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Rowing Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2023, Chicago Rowing Foundation generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.8% each year . All expenses for the organization totaled $2.0m during the year ending 08/2023. While expenses have increased by 8.3% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE SWEEP ROWING AND SCULLING IN THE GREATER CHICAGO METROPOLITAN AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CRF CONDUCTS A HIGHLY RANKED HIGH SCHOOL PROGRAM AND VARIOUS LEARN TO ROW PROGRAMS. COACHES USE A COMPREHENSIVE APPROACH TO THE PHYSICAL MENTAL AND SOCIAL WELL-BEING OF THE ATHLETES AND CULTIVATE THEM INTO SUCCESSFUL INDIVIDUALS AND WINNING TEAMS. THE HIGH SCHOOL PROGRAM PARTICIPATES IN BOTH REGIONAL AND NATIONAL CHAMPIONSHIPS OFFERING OPPORTUNITIES IN THE CHICAGOLAND AREA TO EARN ENTRANCE TO COLLEGE WITH THEIR ROWING SKILLS AS WELL AS TO COMPETE FOR POSITIONS ON THE U.S. JUNIOR NATIONAL ROWING TEAM.
COMMUNITY PROGRAMS ARE AVAILABLE FOR ROWERS 18 YEARS AND OLDER WHO ARE INTERESTED IN ROWING BUT DO NOT WANT TO COMPETE. ADAPTIVE ROWING PROGRAMS FOR INDIVIDUALS WITH PHYSICAL DISABILITIES ARE ALSO OFFERED. WE BELIEVE THAT NO MATTER WHAT YOUR LEVEL OF MOBILITY MAY BE EVERYONE SHOULD HAVE THE SAME OPPORTUNITY TO LEARN TO ROW.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Wallin Executive Director | OfficerTrustee | 40 | $134,500 |
Michael Tanner Director | Trustee | 30 | $24,000 |
Su Bermingham President | OfficerTrustee | 2 | $0 |
Robert Fry Treasurer | OfficerTrustee | 2 | $0 |
Regan Shepley Secretary | OfficerTrustee | 2 | $0 |
Diana Holt Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $233,946 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $441,106 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $675,052 |
| Total Program Service Revenue | $1,730,720 |
| Investment income | $494 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,538 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,421,288 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $158,500 |
| Compensation of current officers, directors, key employees. | $158,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $438,677 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,707 |
| Payroll taxes | $44,678 |
| Fees for services: Management | $29,250 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,480 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $22,332 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $65,442 |
| Travel | $267,634 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,692 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $132,352 |
| Insurance | $51,456 |
| All other expenses | $164,052 |
| Total functional expenses | $1,979,573 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $770,713 |
| Savings and temporary cash investments | $182,928 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $35,174 |
| Net Land, buildings, and equipment | $337,853 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $550 |
| Total assets | $1,333,218 |
| Accounts payable and accrued expenses | $15,896 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $150,000 |
| Total liabilities | $165,896 |
| Net assets without donor restrictions | $938,121 |
| Net assets with donor restrictions | $229,201 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,333,218 |