Princeton Project 55 Inc

Nonprofit profile at a glance

EIN
521647841
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Princeton, NJ, USA
Phone
6099218808
Rating
80
Verdict
STRONG
Rating confidence
Standard
Sector
Alumni Associations

Official website

Reported finances

Revenue
$546,360
Expenses
$885,624
Assets
$3,937,424
Liabilities
$76,541

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

Leadership & pay

18 people listed

Executive titles in this filing

  • KIMME CARLOS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KIMME CARLOS (EXECUTIVE DIRECTOR): $126,804 total reported compensation

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

Overview

Mission

Princeton alumnicorps runs two core programs. The project 55 fellowship places recently graduated princeton seniors in one year nonprofit fellowships. Emerging leaders provides leadership development training to mid-career nonprofit professionals.

What it reported doing in 2024

Emerging leaders-emerging leaders professional development program that is designed to help aspiring and emerging nonprofit leaders develop leadership capabilities, management skills and confidence to advance their professional contributions and accelerate their careers in the nonprofit sector.the program is intended to yield tangible, near term value to participants (and their employers) and support their longer-term leadership development. It employs experiential learning and outside experts and speakers to build management skills, leadership competencies, and sector- specific knowledge. The following learning tracks are woven together: hard nonprofit skills & management training, individualized leadership in action stretch projects, leadership competencies-e.g.self awareness, team dynamics, mentoring-periodic conversations with a nonprofit leader, sector trends-expert speakers and panels, facilitated peer support. Participants in our program met the following criteria: have 3 to 10 years of full time work experience, with at least two years of experience in the nonprofit or public sector, be currently employed in the nonprofit or public sector, currently have some level of project management responsibilities (over staff, interns, vendors, and/or volunteers), and work in the greater Washington dc region, New York city region, or nationally. This year, 13 cohorts participated in New York city.

Operating model

Revenue model
Donor-supported. 71% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 69
  • Accountability: 100
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 76.8%; rating input score 77
  • Fundraising efficiency: $3.4 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -62.1%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 4.45; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 14.3%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 4.9% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 76.8% of spending went to programs
  • Governance: 17 of 17 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $680K in reported program spending
  • Leadership: top reported pay $127K · 18 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 10/100.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.