Quinsigamond Rowing Association INC EIN 04-3065952

Quinsigamond Rowing Association INC

EIN  04-3065952 Public charity (501(c)(3)) Worcester, MA
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Equips and supports amateur athletes for their development and training.
Leadership
Jason Steele · Treasurer · $1K
Money in and out
$231K revenue, $307K expenses
Bottom line
94% program efficiency

Equips and supports amateur athletes for their development and training. For fiscal year 2024 it reported $231K in revenue, $307K in expenses, and $32K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$231K
Pt VIII · Ln 12
Total expenses
$307K
Pt IX · Ln 25
Net assets
$32K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$76K
Where spending went · Part IX cols B–D
Program services $0.94 Management & general $0.06
Program efficiency
94%
of spending reaches programs▼ -3% vs prior filing year
Operating runway
0.9mo
months of highly liquid reserves at operating expense rate▼ -77% vs prior filing year
Surplus margin
-33%
revenue over expenses, this year▼ -259% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$231K
FY2024▼ -38%
Expenses
$307K
FY2024▲ +4%
Total assets
$33K
FY2024▼ -70%
Total liabilities
$601
FY20240%
Total revenue
$231K
Pt VIII · Ln 12
Total expenses
$307K
Pt IX · Ln 25
Net assets
$32K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$76K
Total assetsPt X · Ln 16$33K
Program-expense ratioPt IX · col B94%
Voting members of governing bodyPt I · Ln 34
Independent voting membersPt I · Ln 44
Mission & Programs · Part III

Where the work happens

3 program services account for $156K of program spending, described in the organization's own filed words · FY2023.
01

New England Rowing Championship

Collegiate rowing teams competed in a full day schedule of events

$61Kprogram expense
02

Eastern Sprints Regatta

Collegiate rowing teams competed in a full day schedule of events.

$50Kprogram expense
03

New England Interscholastic Rowing Association Championships

High school rowing teams competed in a full day of events.

$46Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CQuinsigamond Rowing Association INC
EINHdr · item D04-3065952
Principal addressHdr · item CWorcester, MA
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFRecreation & Sports (N6XZ)
Ruling yearIRS BMFNov 1991

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a4
Independent voting membersPt VI · Ln 1b4
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Treasurer
$1,100Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Jason Steele’s $1K as Treasurer is at the 3rd percentile of top reported officer pay among 1017 $100K–1M recreation & sports nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2020
Jason Steele$1,100$1,800$14,167
Patrick Diggins$1,180

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Program service revenue100%$231K
Total revenueLn 12$231K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.94 Management & general $0.06
Program services94%$290K
Management & general6%$17K
Total functional expensesLn 25$307K

Balance Sheet

Part X · end of year
CashLn 1$24K
Total assetsLn 16$33K
Total liabilitiesLn 26$601
Total net assetsLn 32$32K
Months of cash on handcomputed0.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $24K · Operating expenses/yr $307K
0.9 months
Where the money goes
Program services
Program services $290K · Total expenses $307K
94%
Management & General
Management & general $17K · Total expenses $307K
6%
Fundraising
Fundraising $0 · Total expenses $307K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $13K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $231K
0%
Government reliance
Government grants — · Total revenue $231K
Earned-income share
Program service revenue $231K · Total revenue $231K
100%
Investment reliance
Investment income $0 · Total revenue $231K
0%
Program self-sufficiency
Program service revenue $231K · Total expenses $307K
75%
Growth & trend
Revenue growth (YoY)
This year $231K · Prior year $373K
-38%
Revenue CAGR
FY2019 $47K · FY2023 $231K
+49%
Net-asset trend (YoY)
End of year $32K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $231K · Expenses $307K
-33%
Liabilities-to-Assets
Total liabilities — · Total assets $33K
Net-asset ratio
Net assets $32K · Total assets $33K
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $33K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Jason Steele · Reported title TREASURER · Highest reported compensation $1K · Total expenses $307K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $3K · Total expenses $307K
1%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 94%
Overhead ratio 6%
Revenue growth -38%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2022
Total grants receivedfrom 1 funder$2K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$231K revenue · viewing · ⤓ 990 PDF
FY2023$373K revenue · ⤓ 990 PDF
FY2022$207K revenue · ⤓ 990 PDF
FY2021$13K revenue · ⤓ 990 PDF
FY2020$47K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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