ProGeny Startups Inc

Nonprofit profile at a glance

EIN
834655178
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Memphis, TN, USA
Rating
35
Verdict
REVIEW
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$367,807
Expenses
$587,633
Assets
$0
Liabilities
$0

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

Leadership & pay

1 person listed

Executive titles in this filing

  • RHONNIE BREWER (Executive Director)

Highest reported compensation

  • RHONNIE BREWER (Executive Director): $88,461 total reported compensation

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

Overview

Mission

Our work is focused on helping those under-represented starters to gain access to the knowledge, resources, and networking needed to build sustainable businesses and transform their communities.

What it reported doing in 2024

Provided educational, mentoring, and support services to youth in underserved communities. Activities included weekly workshops

Operating model

Revenue model
Grant-funded. 80% of the money available for current operations came from government grants.
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

REVIEW - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 63
  • Accountability: 70
  • Sustainability: 5
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 19th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -59.8%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 15.1%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: -27% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 34.3% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: -182% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 2 of 3 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $11K in reported program spending
  • Leadership: top reported pay $88K · 1 people listed
  • Consistency: 8 of 10 current checks pass · 2 findings to review
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 4 filing years from 2021 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Sustainability: Operating margin scored 4/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.