Progreso Latino

Nonprofit profile at a glance

EIN
050380608
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Central Falls, RI, USA
Phone
4017285920
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Ethnic, Immigrant Centers

Official website

Reported finances

Revenue
$4,620,784
Expenses
$4,725,750
Assets
$4,253,885
Liabilities
$235,653

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • LIZ GOODERMOTE (PRESIDENT)
  • RAFAEL YEPEZ (VICE PRESIDENT)
  • MARIO BUENO (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MARIO BUENO (EXECUTIVE DIRECTOR): $97,860 total reported compensation
  • ELIA GRISELLE LOPEZ (CFO): $74,466 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the agency is to provide various social services to the hispanic community.

What it reported doing in 2025

Adult education programs provide classes to the hispanic population in english as a second language (esl), general equivalency diplomas (ged), and computer education classes at a reduced rate.

Operating model

Revenue model
Grant-funded. 76% of the money available for current operations came from government grants.
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. Expenses are high relative to revenue and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.3%; rating input score 84
  • Program expense ratio: 82.4%; rating input score 82
  • Fundraising efficiency: $19.31 raised per $1 spent on fundraising; rating input score 58; 58th percentile among comparable filings

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: 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 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: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.3%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 0.9; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 3.6%; rating input score 66; 66th percentile among comparable filings

Growth

  • Program expense growth: 10% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 9.3% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: 7.9% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 84.3% of revenue deployed · 82.4% of spending went to programs
  • Governance: 12 of 12 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $3.9M in reported program spending
  • Leadership: top reported pay $98K · 16 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Sustainability: Operating margin scored 20/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 58/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.