Project to Advance Stenographic Reporting Inc

Nonprofit profile at a glance

EIN
823189873
IRS 990 coverage
2019–2023
Forms available
Form 990 2023, Form 990-EZ 2018
Location
Grafton, MA, USA
Phone
5084380314
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Adult, Continuing Education

Reported finances

Revenue
$56,975
Expenses
$136,621
Assets
$99,386
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • WILLIAM E WEBER (PRESIDENT)
  • NANCY VARALLO (EXECUTIVE DIRECTOR)

People named in this filing

  • NATIVA WOOD (BOARD MEMBER)
  • CHRISTINE WILLETTE (BOARD MEMBER)
  • WILLIAM E WEBER (PRESIDENT)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To spread awareness of the profession of stenographic reporting; to recruit new students into partnership stenographic reporting schools and provide financial assistance

What it reported doing in 2023

Steno machine expense and related expense

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 53% for direct work, and 47% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 30
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.3%; rating input score 83
  • Program expense ratio: 34.7%; rating input score 35
  • Fundraising efficiency: $11.87 raised per $1 spent on fundraising; rating input score 57; 57th 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: 100%; rating input score 100; 80th 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; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -139.8%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 0.73; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -35.7% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -7.1% per year; rating input score 0; 39th percentile among comparable filings
  • Asset growth: 11.7% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 83.3% of revenue deployed · 34.7% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $47K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2019 to 2023
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Moderate — Financial Efficiency: Program expense ratio scored 35/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 18/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 57/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.