The Pearl Group Inc

What it reported doing in 2024

General & other activities the pearl group, inc. Annually budgets funds for four half-time persons who serve as the executive director, development manager, client engagement manager and transportation program coordinator. To accomplish its mission, the pearl group, inc. Has been privileged to have over 150 volunteers contributing over 4,000 service hours to the selected programs. These annual volunteer service hours have been valued at over 125,000. The transportation program has benefitted from donated vehicles, discounted and donated car parts which are used in the car care clinic. In 2024 the transportation program delivered services and volunteer hours. Facility usage for the organization's admin offices, the closet, and car care clinics was provided to the organization at a value that exceeds 36,000 annually. Software and professional services received annually has been valued at over 5,000. The independent board of directors annually contribute nearly 2,000 hours of time. Food and beverages provided by hundreds of volunteers to the single mom's dinners and mentoring programs annually exceeds 10,000 in value. It is estimated that the value of in- kind services and goods received exceeds 250,000 per annum. 100% of the contributed funds have been spent on direct programming or in support of the various programs offered. We will continue to seek funding in the form of contributions and grants. Primary volunteer fundraising efforts have been provided to the pearl group, inc. By the president hal bagley and vice-president scott owen and secondarily by the remaining board members. The board has an annual planning and programming assessment retreat whereby existing programs are vigorously evaluated for results, possible improvement, structural efficiencies, and needs assessment. New programs are considered. Annual budgets are established by the ed and approved by the board. Program goals are set and/or revised as deemed necessary by the board to achieve success at desired cost levels. Responsibility for programming efforts and actions are discussed and assigned. Monthly finance committee meetings review budget vs actuals and report to the monthly board meeting. The financial records are reconciled at yearend by certified public accountant who subsequently prepares the annual tax filings at no cost to the organization. The single moms programming activities involves over 100 volunteers contributing 1800+ in- kind hours of service. Creating, maintaining and growing partnerships that together provide programming activities for the over 80 (average) participants that include weekly respite dinners with educational/informational programs being presented. The single moms receive group and individual mentoring by trained volunteers assisting the participants in addressing single parent life coping skills, parenting skills, financial budgeting, benefits issues and assess guidance, goal setting and other issues which challenge the single moms from time to time. The single moms enjoy an evening of respite from the 24/7 challenge of single parenting as the children are provided one to one mentoring and homework assistance by a long term mentor relationship. Professional programs are presented each week in a safe and welcoming environment that encourages open discussion and resultant problem solving.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 100%; rating input score 100
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 64th 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: 1 of 7 controls in place; rating input score 14
  • Conflict-of-interest policy: Fail
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -13.5%; rating input score 19; 19th percentile among comparable filings
• Total-asset coverage ratio: 0.79; rating input score 34; 34th percentile among comparable filings
• Liabilities to assets ratio: 0.33; rating input score 15; 15th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

• Program expense growth: 8.3% per year; rating input score 100; 65th percentile among comparable filings
• Revenue growth: 3.8% per year; rating input score 100; 46th percentile among comparable filings
• Asset growth: 4% per year; rating input score 100; 43rd percentile among comparable filings