Never Too Late to Start Inc

Nonprofit profile at a glance

EIN
844554416
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2129351555
Rating
85
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$20,000
Expenses
$26,614
Assets
$9,848
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • JOSEPH SPRUNG (PRESIDENT)
  • RICHARD FINK (VICE PRESIDENT)

People named in this filing

  • JOSEPH SPRUNG (PRESIDENT)
  • RICHARD FINK (VICE PRESIDENT)
  • DIANE LEMPERT (SECRETARYTREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Never too late to start acknowledges that with age comes many significant advantages when starting a new business, one of which is a commitment to making your passion not only a financial win, but your legacy. Our mission is to help all entrepreneurs, at any and every age.

What it reported doing in 2024

The womens entrepreneurship conference (wec) is a series of events put on by parent company never too late to start that helps women break down entrepreneurial barriers. The first wec was an overwhelming success and started a much-needed movement. There was a huge demand to make wec an annual or even semi-annual event and to keep the momentum building. Through a series of entrepreneurship conferences and events, never too late to start continues to make an impact, by providing valuable advice from experienced speakers and panelists, access to funding, numerous opportunities for networking, and a chance to feel connected, supported and inspired. And in addition to all this, each event takes place in a beautiful location, with a fun, familiar and social atmosphere including food, drinks and a variety of complimentary services, giving never too late to start a superior and quality edge that is so welcomed and appreciated by entrepreneurs today.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 91% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 100
  • Accountability: 70
  • Sustainability: 35
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -33.1%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 0.37; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 55.8% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 41.9% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: -3.2% per year; rating input score 0; 26th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $27K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Growth: Asset growth scored 0/100.