The San Marcos Promise

What it reported doing in 2024

Project next operates five on campus future centers serving high school students across san marcos and escondido. These centers function as year-round, high touch workforce readiness hubs embedded within partner schools. During the fiscal year: students visited future centers more than 5,300 times. Career coaches delivered over 1,300 individualized coaching sessions to nearly 900 students. 470 students completed the superstrong interest assessment to align strengths with career pathways. 392 students completed fafsa or cadaa applications with direct support. More than 2,400 student touchpoints were generated through 90 career readiness events. Over 400 professionals representing 130 plus companies engaged directly with students.equity is central to our model. Among participants in our structured cohort programs: 85 percent were socioeconomically disadvantaged. 64 to 78 percent were first generation college bound. Up to 92 percent identified as students of color.focused futures, our two-year college and career exploration program, served 109 students. Seventy five percent completed the year with a defined post-graduation plan and 72 percent are pursuing higher education or career training.xcelerate workforce pathway served 83 students who were not initially planning to pursue college. By year end, 87 percent had applied to or enrolled in postsecondary education, career training, military service, or employment pathways with stronger wage and growth potential.through interview skills day, skillshops, career chats, company site visits, and regional connect to careers events, students gained practical experience in networking, interviewing, financial literacy, and professional communication.project next aligns education with industry to strengthen the north county talent pipeline. Our cross-sector model ensures students graduate not only with a diploma, but with a viable, informed pathway toward economic mobility.during the 2023 fiscal year, the san marcos promise rebranded as project next to reflect the expansion of its mission, geography, and services. The organization retained its original EIN and legal entity status. The rebrand aligns with a broader regional footprint and an evolved strategic focus on systemic college and career readiness. Originally founded in 2014 to administer the pace promise scholarship program, the organization shifted its strategy in 2019 to establish on campus future centers within san marcos unified school district high schools. Recognizing the need for earlier and more comprehensive intervention, the organization expanded into escondido union high school district and now operates five future centers across multiple districts. The name project next reflects the organization's expanded regional reach and its commitment to helping students identify and pursue their next best step after graduation. No structural or governance changes accompanied the rebrand.

Financial Efficiency

• Mission deployment rate: 62.4%; rating input score 62
• Program expense ratio: 53.6%; rating input score 54
• Fundraising efficiency: $4.87 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• 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: 6 of 8 controls in place; rating input score 75
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -16.2%; rating input score 12; 12th percentile among comparable filings
• Total-asset coverage ratio: 0.42; rating input score 20; 20th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
• Officer compensation ratio: 27.5%; rating input score 8; 8th percentile among comparable filings

Growth

• Program expense growth: 11.2% per year; rating input score 100; 66th percentile among comparable filings
• Revenue growth: 10.4% per year; rating input score 100; 68th percentile among comparable filings
• Asset growth: 17.8% per year; rating input score 100; 78th percentile among comparable filings