Project 88 Foundation

Nonprofit profile at a glance

EIN
472066462
IRS 990 coverage
2020–2020
Forms available
Form 990 2020
Location
Missouri City, TX, USA
Phone
6082390750
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$19,070
Expenses
$60,557
Assets
$46,421
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • Ericka Graham (President)
  • Garrett Graham (Vice President)

People named in this filing

  • Ericka Graham (President)
  • Garrett Graham (Vice President)
  • Deborah Engen (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Project 88 Foundation's mission is to create outlets and strategic collaborations that connect students to opportunity. The organization is committed to helping high school students become competitive college applicants and leaders in their communities.

What it reported doing in 2020

Project Achieve: Project 88 provides wrap-around support for high-achieving students that are destined for the nation's top-tier colleges. Oftentimes, the obstacles that prevent students from matriculating to out-of-state colleges are modest. Things like health insurance, luggage, or even plane tickets are often enough to put a student out, and thus the student will fail to show up for college. At Project 88, we believe that a $500 expense should never prevent a student from an Ivy League degree, thus we provide extra funding so that students matriculating to college can travel safely, with the services and materials they need to flourish.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 63% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 82
  • Accountability: 76
  • Sustainability: 27
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.8%; rating input score 89
  • Fundraising efficiency: $6.28 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 11th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 73.5%; rating input score 74; 50th 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: -217.6%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.77; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 100% of revenue deployed · 88.8% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $54K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 39/100.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.