Quick charity verification for Progress Charitable Foundation (EIN: 203987489)
Verdict: Progress Charitable Foundation shows mixed signals
60/100Mission Score
$3.2MRevenue
$953Assets
3Red Flags
3Strengths
Red Flags
Extremely low asset base relative to revenue, indicating minimal financial reserves (e.g., $953 assets vs. $3.2M latest revenue).
Expenses consistently matching or slightly exceeding revenue, suggesting a lack of surplus for growth or emergencies.
Lack of detailed expense breakdown in provided data makes it difficult to fully assess spending efficiency.
Strengths
Zero reported officer compensation across all filings, indicating efficient use of funds at the executive level.
Consistent filing history (10 filings), demonstrating compliance with IRS reporting requirements.
NTEE code T22 suggests a focus on philanthropy and grantmaking, aligning with a rapid disbursement model.
Spending Breakdown
How Progress Charitable Foundation allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
5%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Progress Charitable Foundation
Is Progress Charitable Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Progress Charitable Foundation (EIN: 203987489) shows mixed signals. Mission Score: 60/100. 3 red flags identified, 3 strengths noted.
Is Progress Charitable Foundation a good charity to donate to?
Progress Charitable Foundation has a Mission Score of 60/100. Revenue: $3.2M. Assets: $953. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Progress Charitable Foundation?
The Employer Identification Number (EIN) for Progress Charitable Foundation is 203987489. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Progress Charitable Foundation spend its money?
Progress Charitable Foundation allocates 90% to programs, 5% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Progress Charitable Foundation's tax-exempt status?
You can verify Progress Charitable Foundation's tax-exempt status using EIN 203987489 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Progress Charitable Foundation exhibits a concerning financial profile. Despite reporting over $3.2 million in latest revenue, its assets are remarkably low at $953, indicating a potential lack of financial reserves or significant immediate spending. The organization consistently reports expenses closely matching or exceeding revenue across multiple years, such as in 2022 where expenses were $1,706,760 against $1,705,586 in revenue, suggesting a 'spend-down' model or very tight operational margins. This pattern, combined with minimal assets, raises questions about long-term sustainability and capacity to absorb unexpected costs.
The consistent reporting of $0 for officer compensation across all ten filings is a positive indicator for donor confidence regarding executive pay, but it also prompts inquiry into how leadership is compensated or if the organization is entirely volunteer-run at the executive level. The NTEE code T22 (Philanthropy, Voluntarism, and Grantmaking Foundations) suggests it may be a grant-making entity, which could explain the rapid outflow of funds. However, without detailed expense breakdowns, it's difficult to assess spending efficiency beyond the top-line figures. The extremely low asset base, especially given the revenue figures, is the most significant financial red flag.