True Colors United Inc

Nonprofit profile at a glance

EIN
452489069
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-N 2011
Location
New York, NY, USA
Phone
2124614401
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Lesbian, Gay Rights

Official website

Reported finances

Revenue
$3,434,660
Expenses
$4,002,076
Assets
$105,800
Liabilities
$102,004

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

Leadership & pay

12 people listed

Executive titles in this filing

  • ANN OLIVA (DIRECTOR & PRESIDENT (FROM)
  • JOSEPH AVALLONE (VICE-PRESIDENT & TREASURER)
  • FRANCIS DYLAN WAGUESPACK (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • MORGAN JENKINS (CHIEF OPERATING OFFICER): $158,356 total reported compensation
  • RYAN WHITE (CHIEF STRATEGY OFFICER): $139,683 total reported compensation
  • KAHLIB BARTON (CHIEF PROGRAMS OFFICER): $132,621 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

True colors united implements innovative solutions to youth homelessness that focus on the unique experiences of lgbtq young people.

What it reported doing in 2024

Advocacy: true colors united works in Washington d.c. And state capitols around the country to give lgbtq youth experiencing homelessness a voice in government and to ensure strong public policy is in place so that vital social services are properly funded and lgbtq+ and bipoc youth are protected. Projects include the administrative public policy project, legislative public policy project, and the state index on youth homelessness. True colors united also works to inspire, engage, and empower the public to get involved in ending homelessness among lgbtq+ and bipoc youth and create a world in which they can be their true selves. Projects include #truecolorsday and the safe home campaign with the united nations human rights office.

Operating model

Revenue model
Donor-supported. 86% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 79
  • Accountability: 82
  • Sustainability: 7
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.5%; rating input score 86
  • Fundraising efficiency: $17.35 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -16.5%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 0.96; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 17.2%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 15.7% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 13.5% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 11.9% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86.5% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $3.5M in reported program spending
  • Leadership: top reported pay $158K · 12 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $750K reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 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 — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 8/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 55/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.