The Progressive Inc

Nonprofit profile at a glance

EIN
390773233
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Madison, WI, USA
Phone
6082574626
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,562,833
Expenses
$1,244,689
Assets
$999,181
Liabilities
$204,696

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

Leadership & pay

8 people listed

Executive titles in this filing

  • JAMES FRIEDMAN (PRESIDENT)
  • WILLIAM WHITE (VICE PRESIDENT)

Highest reported compensation

  • NORMAN STOCKWELL (PUBLISHER/SECRETARY): $89,613 total reported compensation
  • DANIEL LIBBY (DEVELOPMENT DIRECTOR): $81,963 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 progressive, inc. Publishes the progressive magazine, distributes editorial material to local and national newspapers, and may also produce educational television and radio programs.

What it reported doing in 2024

Circulation costs include all related printing, distributing, and promoting costs of the progressive's monthly publication, the progressive, which is distributed to approximately 30,000 subscribers and retailers each month.

Operating model

Revenue model
Donor-supported. 80% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 86
  • Accountability: 80
  • Sustainability: 53
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.9%; rating input score 55
  • Program expense ratio: 67.7%; rating input score 68
  • Fundraising efficiency: $6.22 raised per $1 spent on fundraising; rating input score 23; 23rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th 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: 75%; rating input score 75; 16th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 20.4%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 0.8; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 13.8%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: -6.6% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -4.6% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -5.8% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 54.9% of revenue deployed · 67.7% of spending went to programs
  • Governance: 6 of 8 board members independent · 7 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $842K in reported program spending
  • Leadership: top reported pay $90K · 8 people listed
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • High — Financial Efficiency: Fundraising efficiency scored 23/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Review — Transparency & Controls: Schedule G fundraiser detail did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 26/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.