Join Prometheus Partners Inc
Nonprofit profile at a glance
- EIN
- 991745935
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 6465890304
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Management & Technical Assistance
Reported finances
- Revenue
- $264,442
- Expenses
- $236,432
- Assets
- $28,010
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- MARGARET SMILEY (DIRECTOR AND EXECUTIVE DIRECTOR)
Highest reported compensation
- MARGARET SMILEY (DIRECTOR AND EXECUTIVE DIRECTOR): $88,260 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Prometheus' goals are to provide: (i) resources and increase capacity building for nonprofit organizations, (ii) educational opportunities and training for technology students, and (iii ) volunteer opportunities for skilled professionals. By enabling nonprofit organizations to access pro bono technology and data support through prometheus, prometheus helps organizations expand their impact. In furtherance of its mission to support the provision of pro bono technology services to nonprofit organizations, prometheus provides a range of educational materials and resources and learning opportunities for those in their network.
What it reported doing in 2024
Prometheus' strives to match a nonprofit organization client's needs with a volunteer's skills, interests, and abilities to conduct mutually agreed upon pro bono technology projects for the benefit of the nonprofit organizations and the individuals and communities they serve while also meeting any learning and development goals of the educational partner institution or the individual professional.
Operating model
- Revenue model
- Donor-supported. 97% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 72
- Transparency & Controls: 92
- Accountability: 90
- Sustainability: 41
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 70%; rating input score 70
- Program expense ratio: 78.3%; rating input score 78
- Fundraising efficiency: $21.67 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 10.6%; rating input score 61; 61st percentile among comparable filings
- Total-asset coverage ratio: 0.12; rating input score 7; 7th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 37.3%; rating input score 7; 7th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 70% of revenue deployed · 78.3% of spending went to programs
- Governance: 2 of 2 board members independent · 6 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $185K in reported program spending
- Leadership: top reported pay $88K · 3 people listed
- Consistency: 17 of 17 current checks pass
- Schedules: 3 filed schedules · includes major donors
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: Filed and resolved organization relationships.
- 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Total-asset coverage ratio scored 7/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Sustainability: Officer compensation ratio scored 7/100.