Pursuit Transformation Company Inc
Nonprofit profile at a glance
- EIN
- 611652332
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024
- Location
- Long Island City, NY, USA
- Phone
- 3478416090
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $12,134,324
- Expenses
- $13,457,473
- Assets
- $14,963,159
- Liabilities
- $12,636,923
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
25 people listed
Executive titles in this filing
- JUKAY HSU (CO-FOUNDER & CEO)
Highest reported compensation
- JUKAY HSU (CO-FOUNDER & CEO): $554,824 total reported compensation
- YONG KANG (CHIEF FINANCIAL OFFICER): $413,649 total reported compensation
- CAROLINE OH (CHIEF OPERATING OFFICER): $395,584 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The pursuit core program provides a pathway out of poverty for its participants by giving them the skills necessary to gain employment as software engineers through an intensive class that includes 12 months of technical training and job readiness training provided upon completion of the program. In addition to teaching programming skills, the program provides job placement assistance and industry readiness through mock interviews and resume building workshops, site visits to local tech companies, networking events, and other activities. In person service has been transitioned to online due to pandemic. The pursuit campus remains reopen for students to be able to come to work and learn, if they wish, though all programming will be accessible online.
What it reported doing in 2024
Through a four-year intensive program, we train adults with the most economic need and potential to get their first tech jobs, advance in their careers, and become the next generation of leaders in tech. In addition to providing training and career support, our innovative operating model combines partnerships with tech companies to retrain their blue-collar workers and social impact investments to re-envision funding for outcomes-based organizations. By connecting talent with opportunity, we empower graduates to bring change to their families, tech companies, and communities across the nation.
Operating model
- Revenue model
- Donor-supported. 70% 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 78
- Transparency & Controls: 81
- Accountability: 91
- Sustainability: 18
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 85.1%; rating input score 85
- Program expense ratio: 76.6%; rating input score 77
- Fundraising efficiency: $12.13 raised per $1 spent on fundraising; rating input score 43; 43rd percentile among comparable filings
Transparency & Controls
- Consistency checks: 93.8%; rating input score 94; 17th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 84.6%; rating input score 85; 18th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -10.9%; rating input score 9; 9th percentile among comparable filings
- Total-asset coverage ratio: 1.11; rating input score 40; 40th percentile among comparable filings
- Liabilities to assets ratio: 0.84; rating input score 12; 12th percentile among comparable filings
- Officer compensation ratio: 29.7%; rating input score 1; 1st percentile among comparable filings
Growth
- Program expense growth: 24.4% per year; rating input score 100; 93rd percentile among comparable filings
- Revenue growth: 20.6% per year; rating input score 100; 92nd percentile among comparable filings
- Asset growth: 25.3% per year; rating input score 100; 94th percentile among comparable filings
Details
- Where the money goes: 85.1% of revenue deployed · 76.6% of spending went to programs
- Governance: 11 of 13 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $10.3M in reported program spending
- Leadership: top reported pay $555K · 25 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $763K reported
- Consistency: 33 of 33 current checks pass
- Schedules: 7 filed schedules · includes major donors and executive pay
- Filing history: 11 filing years from 2013 to 2024
- Contacts: How to reach this organization
- Money network: 15 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Fundraising efficiency scored 43/100.
- High — Sustainability: Operating margin scored 9/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
- High — Sustainability: Officer compensation ratio scored 1/100.
- High — Sustainability: Liabilities to assets ratio scored 12/100.