The Progress Club Foundation Inc

Nonprofit profile at a glance

EIN
521161760
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Rockville, MD, USA
Phone
3014681440
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Services N.E.C.

Reported finances

Revenue
$105,270
Expenses
$126,043
Assets
$496,336
Liabilities
$0

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

Leadership & pay

10 people listed

People named in this filing

  • HERBERT CHERNER (DIRECTOR)
  • MARTY FELDMAN (CO-CHAIRMAN)
  • ARLENE GREENSPAN (DIRECTOR)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To receive and administer funds for charitable purposes, all for the public welfare. We have donated over the past year to various charities, including the wounded warrior project, dc hospice center, montgomery hospice casey house, olney boys and girls club, leukemia & lymphoma society and the national children's center to name a few. We will continue to donate to vaious charities.

What it reported doing in 2024

The organization contributed approximately 116,854 to various charities in the area, including but not limited to the national children's center, tragedy assistance for survivors, the montgomery county, md and dc hospices , the wounded warrior project and nourish now.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -19.7%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 3.94; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 20% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 22.4% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 6.9% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 10 of 10 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $126K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 14/100.