Pearl Transit

Nonprofit profile at a glance

EIN
202022387
IRS 990 coverage
2020–2023
Forms available
Form 990 2023
Location
Marlton, NJ, USA
Phone
8889769944
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Management & Technical Assistance

Reported finances

Revenue
$6,435,936
Expenses
$3,221,944
Assets
$17,828,815
Liabilities
$464,612

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

10 people listed

People named in this filing

  • Alicia Woodson (Treasurer)
  • Tyron Morris (Director)
  • Nicholas Glatz (Director)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Pearl Transit Corp. works to end homelessness and help all people to achieve self-sufficiency by providing street outreach for unsheltered homeless persons and fare free community transportation for low income people people with disabilities and people at risk of or experiencing homelessness. Pearl Transit also focuses on ending hunger for low income families by providing free non-perishable food delivery.

What it reported doing in 2023

Multi-state transportation travel planning food aid and outreach services for disadvantaged populations. More than 7,000,000 rides provide to previously inaccessible community destinations.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

SUPPORTED - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 63
  • Accountability: 100
  • Sustainability: 89
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 39.4%; rating input score 39
  • Program expense ratio: 78.7%; rating input score 79
  • Fundraising efficiency: $37.06 raised per $1 spent on fundraising; rating input score 73; 73rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 70%; rating input score 70; 0th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

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

Sustainability

  • Operating margin: 49.9%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 5.53; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: 19.2% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 14.5% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 23.7% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 39.4% of revenue deployed · 78.7% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $2.5M in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 37 of 41 current checks pass · 4 findings to review
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2020 to 2023
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Financial Efficiency: Mission deployment rate scored 39/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Advertising column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Insurance column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Grant Readiness: SAM / OFAC restrictions: this organization returned a name match close enough to need a human check before a grant is released.