Proteus Fund Inc

Overview

Mission

Proteus fund connects philanthropy to the frontlines of social justice to advance racial, gender, queer, and disability justice, and an inclusive, fully representative democracy.

What it reported doing in 2024

Rights, inclusion, solidarity, and equity (rise) together fund is a donor collaborative that brings together individual donors and foundations to advance the civil rights and fight for full inclusion of black, african, arab, muslim, middle eastern, and south asian communities and promote their contributions to democracy, culture, and society.

Operating model

Revenue model
Donor-supported. 92% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 48% for direct work, and 52% for grants.

Nonprofit profile at a glance

EIN
043243004
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Waltham, MA, USA
Phone
4132560349
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 91
  • Accountability: 100
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.9%; rating input score 96
  • Program expense ratio: 81.2%; rating input score 81
  • Fundraising efficiency: $18.94 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 41st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -17.7%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 1.32; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 2.7%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: 11.8% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 12.7% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 15.6% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 95.9% of revenue deployed · 81.2% of spending went to programs
  • Governance: 12 of 12 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $41.3M in reported program spending
  • Leadership: top reported pay $417K · 17 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $761K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 224 filed money-flow records
  • Related organizations: 219 filed related-organization links
  • 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.

Leadership & pay

17 people listed

Highest reported compensation

  • PAUL DI DONATO (PRESIDENT & CEO): $417,476 total reported compensation
  • MICHAEL JARVIS (PROGRAM DIRECTOR): $257,391 total reported compensation
  • BEERY JIMENEZ (CHIEF OPERATING OFFICER): $252,902 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.