Prassion Inc

Nonprofit profile at a glance

EIN
463096770
IRS 990 coverage
2017–2023
Forms available
Form 990 2023, Form 990-EZ 2016, Form 990-N 2014
Location
Fairfax, VA, USA
Phone
7035051775
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Affiliation
Christianity

Official website

Reported finances

Revenue
$77,634
Expenses
$348,711
Assets
$368,425
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • DANIEL SHINJONG BAEQ (PRESIDENT)

People named in this filing

  • DANIEL SHINJONG BAEQ (PRESIDENT)
  • STANFORD H CHOI (DIRECTOR)
  • TAE JEONG (SECRETARY)

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

To spread the gospel to the world by planting and serving churches to save lives and to restore families by providing medical assitance to train future leaders of communities by establishing education programs

What it reported doing in 2023

Missionary support and inaugural worship service

Operating model

Revenue model
Grant-funded. 90% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 87% of its reported program spending out as grants.

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: 88
  • Transparency & Controls: 93
  • Accountability: 70
  • Sustainability: 27
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.1%; rating input score 97
  • 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • 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: -349.2%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 1.06; rating input score 24; 24th 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: 26.4% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: -12.2% per year; rating input score 0; 30th percentile among comparable filings
  • Asset growth: 6.3% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $339K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 7 filing years from 2017 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.