CHICAGO QUANTITATIVE ALLIANCE

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1994

Legal Domicile

Principal Officer

DAN CARDELL

Phone

8477075223

Tax Period

2023-01-01 to 2023-12-31

CHICAGO QUANTITATIVE ALLIANCE, founded in 1994, is a small nonprofit that reported $261K in total revenue in fiscal year 2023.

Mission

CHICAGO QUANTITATIVE ALLIANCE (CQA) IS A BUSINESS LEAGUE AS DEFINED UNDER INTERNAL REVENUE CODE SECTION 501(C)(4) AND REG. 1.501(C)(4)-1. CQA'S PURPOSE IS TO FURTHER QUANTITATIVE INVESTMENT TECHNIQUES BY: 1) PROMOTING REGULAR COMMUNICATION AND AN EXCHANGE OF IDEAS AMONG INVESTMENT PROFESSIONALS EMPLOYING SUCH TECHNIQUES, AND 2) SPONSORING CONFERENCES AND RELATED MEETINGS ON QUANTITATIVE INVESTMENT TECHNIQUES GEARED TOWARDS PRACTITIONERS AND WHICH ENOURAGES ACTIVE PARTICIPATION OF ALL ITS MEMBERS.

Program Service Accomplishments

Program 1

Expenses: $256,668

THE ORGANIZATION HOLDS A SPRING, FALL AND ASIAN CONFERENCE WITH OVER 60% OF MEMBERSHIP IN ATTENDANCE WITH A NUMBER OF PRESENTATIONS ON QUANTITATIVE AND RELATED INVESTMENT ISSUES GIVEN BY ACADEMICS...

THE ORGANIZATION HOLDS A SPRING, FALL AND ASIAN CONFERENCE WITH OVER 60% OF MEMBERSHIP IN ATTENDANCE WITH A NUMBER OF PRESENTATIONS ON QUANTITATIVE AND RELATED INVESTMENT ISSUES GIVEN BY ACADEMICS, STUDENTS, AND PRACTITIONERS. A HALF DAY TRADING CONFERENCE IS OPEN TO MEMBERS AND THEIR GUESTS ON THE CURRENT STATE OF EQUITY TRADING AND EXECUTION ISSUES.

Program 2

MAINTAINS THE CQA WEBSITE AND E-MAIL NETWORK TO PROMOTE THE FREE FLOW OF INFORMATION, IDEAS, AND QUESTIONS ON QUANTITATIVE TECHNIQUES AND INVESTING IN GENERAL AMONG MEMBERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $261,100

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $261,100

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $256,668

Other Expenses $256,668

TOTAL EXPENSES $256,668

Year-over-Year Comparison

	2023	2022	Change
Revenue	$261,100	$272,429	0.0%
Expenses	$256,668	$300,798	-0.1%
Net Income	$4,432	$-28,369	-1.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFF BROWN	DIRECTOR	N/A	Director	$0	$0	$0
MELISSA BROWN	DIRECTOR	N/A	Director	$0	$0	$0
DAN CARDELL	LEAD DIRECTO	N/A	Director	$0	$0	$0
DAVE COUGHENOUR	DIRECTOR	N/A	Director	$0	$0	$0
DAN DIBARTOLOMEO	DIRECTOR	N/A	Director	$0	$0	$0
TODD DOERSCH	DIRECTOR	N/A	Director	$0	$0	$0
GREGORY FORSYTHE	DIRECTOR	N/A	Director	$0	$0	$0
DAN GLICKMAN	DIRECTOR	N/A	Director	$0	$0	$0
TOMMY HUIE	DIRECTOR	N/A	Director	$0	$0	$0
ED KEON	DIRECTOR	N/A	Director	$0	$0	$0
ROSEMARY MACEDO	DIRECTOR	N/A	Director	$0	$0	$0
MELISSA MCGRANE	DIRECTOR	N/A	Director	$0	$0	$0
ALEX MUNIZ	DIRECTOR	N/A	Director	$0	$0	$0
PANKAJ PATEL	DIRECTOR	N/A	Director	$0	$0	$0
JOE REILAND	DIRECTOR	N/A	Director	$0	$0	$0
RUDI SCHADT	DIRECTOR	N/A	Director	$0	$0	$0
JOHN WIGHTKIN	DIRECTOR	N/A	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$261,100	$256,668	$137,864	$4,432
2022	$272,429	$300,798	$133,432	$-28,369