Prince George's Financial Services Corporation

Nonprofit profile at a glance

EIN
521305988
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Largo, MD, USA
Phone
3018836900
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Small Business Development

Official website

Reported finances

Revenue
$4,620,994
Expenses
$4,580,755
Assets
$12,100,102
Liabilities
$9,707,492

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

Leadership & pay

24 people listed

Executive titles in this filing

  • DAWN R MEDLEY (PRESIDENT & CEO)
  • DIPTI PATEL (VICE PRESIDENT - BUSINESS FINANCE)
  • JAMES STEWARD SMITH (VICE PRESIDENT - BUSINESS DEVELOPMENT)

Highest reported compensation

  • BEVERLY EVERSON-JONES (CHIEF FINANCIAL & OPERATIONAL OFFICER): $232,174 total reported compensation
  • DAWN R MEDLEY (PRESIDENT & CEO): $226,895 total reported compensation
  • DIPTI PATEL (VICE PRESIDENT - BUSINESS FINANCE): $166,386 total reported compensation

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

Overview

Mission

The organization is a private non-profit corporation designated as a certified development corporation by the us small business administration. The organization's principal business objective is to provide financing solutions for small businesses to grow the local economy and strengthen communities.

What it reported doing in 2024

Sbgf & other: the former small business growth fund (sbgf) provided access to conventional financing that supports the growth and development of small businesses in prince george's county. The sbgf was discontinued during the year ended june 30, 2024. The outstanding balance of the sbgf was refinanced by a term loan through pnc bank. The outstanding loans have guarantees provided by the sba community advantage program with a 75% to 90% 7(a) loan guarantee. Other programs include business expansion fund (bef) that is a collaboration between the organization and the prince george's county economic development corporation (edc), micro enterprise loan fund (micro) funded by the Maryland department of housing and community development (dhcd), city of bowie loan fund that is a revolving loan fund.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 75% for direct work, and 25% for grants.

The verdict

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

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 72
  • Accountability: 95
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.7%; rating input score 87
  • Program expense ratio: 87.1%; rating input score 87
  • Fundraising efficiency: $22.84 raised per $1 spent on fundraising; rating input score 63; 63rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 88.2%; rating input score 88; 2nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 88.1%; rating input score 88; 25th percentile among comparable filings
  • 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.9%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 2.64; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.8; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 22.7%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 16.8% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 12.2% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 86.7% of revenue deployed · 87.1% of spending went to programs
  • Governance: 14 of 14 board members independent · 8 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $4M in reported program spending
  • Leadership: top reported pay $232K · 24 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 34 of 36 current checks pass · 2 findings to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 85 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

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 — Sustainability: Operating margin scored 37/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.