SAINT IGNATIUS CHICAGO ROWING INC
Mission Statement
St. Ignatius Chicago Rowing, a 501c-3, not-for-profit organization administers a competitive rowing team for students at St. Ignatius College Prep. The team is composed of a diverse group of students from all over the Chicagoland area. Over the past few years, the team has performed at very competitive levels both across the Midwest and nationally. In the past few years, St Ignatius Chicago Rowing boats have earned a silver medal and other top ten finishes at the Scholastic National rowing championships, as well as strong showings at the Head of the Charles Regatta in Boston. We compete against, and frequently beat, teams that draw on bigger pools of talent and that are better funded (many of them with taxpayer dollars). In contrast, St Ignatius Chicago Rowing relies entirely on dues and private donations. It receives support neither from St. Ignatius College Prep nor any government body nor foundation. The operating expenses of the team are paid for by the dues of the members’ families. Dues also go to support a scholarship program so that all St Ignatius students, regardless of parental income, can participate on the team. However, in order to buy new boats and other equipment, the team relies solely on the proceeds of the annual auction. While the team takes good care of its equipment, as old boats get obsolete, new boats must be purchased and they are very expensive. The students on crew learn athleticism, discipline and teamwork, and are very good at managing their time since their mornings begin at 5:00 am. They are a committed group of students and parents.
Financial Overview — FY 2024
Compared with Peers
FY 2024| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
84.5% | 94.9% |
P10P90
|
Below median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
15.5% | 3.9% |
P10P90
|
Bottom quarter |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
0.0% | 0.0% |
P10P90
|
Top quarter |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
0.0% | 0.0% |
P10P90
|
Top quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
10.0 mo | 6.4 mo |
P10P90
|
Above median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
11.3% | 0.0% |
P10P90
|
Bottom quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
73.3% | 89.1% |
P10P90
|
Above median |
|
Revenue growth
Year over year revenue growth
|
71.7% | 8.2% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
32.0% | 9.8% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
14.9% | 2.8% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $498K | $424K | $352K | 84.5% | 0 |
| 2023 | $290K | $321K | $281K | 84.6% | 0 |
| 2022 | $320K | $288K | $308K | 82.9% | 0 |
| 2021 | $148K | $125K | N/A | — | 0 |
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