Progress for Good Inc

Nonprofit profile at a glance

EIN
823293766
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2021
Location
Brooklyn, NY, USA
Phone
3474648178
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Adult, Continuing Education

Reported finances

Revenue
$552,856
Expenses
$518,240
Assets
$184,693
Liabilities
$84,904

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

Leadership & pay

4 people listed

Highest reported compensation

  • LLOYD CAMBRIDGE (FOUNDER): $143,332 total reported compensation

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

Overview

Mission

To equip entrepreneurs from under resourced communities to grow businesses and invest in social causes they care about.

Operating model

Revenue model
Donor-supported. 100% 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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 75
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.4%; rating input score 72
  • Program expense ratio: 77.3%; rating input score 77
  • 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 16th 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.3%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0.36; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0.46; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 27.7%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 12.3% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 16.9% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 1.4% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: 72.4% of revenue deployed · 77.3% of spending went to programs
  • Governance: 3 of 4 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $401K in reported program spending
  • Leadership: top reported pay $143K · 4 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.