Pathway Financial Education

Nonprofit profile at a glance

EIN
852703953
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Kansas City, MO, USA
Phone
9133033013
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Adult, Continuing Education

Official website

Reported finances

Revenue
$604,353
Expenses
$437,277
Assets
$933,537
Liabilities
$1,833

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

Leadership & pay

8 people listed

Executive titles in this filing

  • LATASHA JACOBS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LATASHA JACOBS (EXECUTIVE DIRECTOR): $91,220 total reported compensation
  • VINCE CLARK (BOARD MEMBER): $60,012 total reported compensation

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

Overview

Mission

Pathway financial education ("pathway") is committed to providing comprehensive financial training and education to small business owners and individuals. Our mission is to provide free financial education and training to high school students, adults, and small business owners in under-resourced communities. We embrace these principles and affirm them in our mission. We uphold these principles in our curricula and among our instructors.

What it reported doing in 2024

Pathway offers free financial education classes to small businesses, adults and youths (grades 9-12). Small business classes focus on money basics/ management, tax and accounting records services, bookkeeping and other financial services. Adult financial education classes assist with building financial futures, managing debt and spending/ savings plans. Youth classes build literacy skills and the knowledge necessary to become a financially responsible adult, i.e. Earning money, spending/ saving, borrowing and other services.

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 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 - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56.5%; rating input score 56
  • Program expense ratio: 78.1%; rating input score 78
  • Fundraising efficiency: $33.82 raised per $1 spent on fundraising; rating input score 71; 71st percentile among comparable filings

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; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 27.6%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 2.13; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: 34.6%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 46.7% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 30.4% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 32.3% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 56.5% of revenue deployed · 78.1% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $341K in reported program spending
  • Leadership: top reported pay $91K · 8 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 5/100.