Progressnow
Progressnow shows consistent revenue growth and strong financial health with no reported officer compensation.
EIN: 208720230 · Richmond, VA · NTEE: R01 · Updated: 2026-03-28
Is Progressnow Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Progressnow directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Progressnow
Progressnow (EIN: 208720230) is a nonprofit organization based in Richmond, VA, classified under NTEE code R01. The organization reported total revenue of $12.1M and total assets of $3.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Progressnow's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Progressnow is a large nonprofit that has been operating for 14 years, with 12 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 1.4%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $2.2M |
| Surplus / Deficit | +$409K |
| Total Assets | $1.7M |
| Total Liabilities | $246K |
| Net Assets | $1.4M |
| Operating Margin | 15.4% |
| Debt-to-Asset Ratio | 14.6% |
| Months of Reserves | 9.0 months |
Financial Health Grade: A
In 2022, Progressnow reported a surplus of $409K with revenue exceeding expenses, holds 9.0 months of operating reserves (strong position), has a debt-to-asset ratio of 14.6% (very low leverage).
Financial Trends
Over 12 years of filings (2011–2022), Progressnow's revenue has grown at a compound annual growth rate (CAGR) of 1.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +24.2% | +20.6% | +46.3% |
| 2021 | -49.5% | -52.4% | +47.5% |
| 2020 | +134.4% | +155.7% | +68.9% |
| 2019 | +18.7% | +9.4% | +52.4% |
| 2018 | -10.8% | -5.8% | +8.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2012 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Progressnow with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Progressnow allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $409K, with revenue exceeding expenses.
- Debt-to-asset ratio: 14.6%.
Executive Compensation Analysis
Progressnow consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly unusual and suggests a strong commitment to directing funds towards programmatic activities.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Progressnow's IRS 990 filings:
- Lack of detailed expense breakdown in provided summary data prevents granular analysis of program efficiency.
Strengths
The following positive indicators were identified for Progressnow:
- Consistent revenue growth, from $610,108 in 2015 to $2,652,181 in 2022.
- Significant asset growth, from $13,728 in 2015 to $1,687,519 in 2022.
- 0% officer compensation reported across all filings, indicating high dedication to mission.
- Consistent operating surpluses in recent years (e.g., $2,652,181 revenue vs. $2,242,704 expenses in 2022).
- Strong financial health and increasing capacity to fund operations.
Frequently Asked Questions about Progressnow
Is Progressnow a legitimate charity?
Based on AI analysis of IRS 990 filings, Progressnow (EIN: 208720230) some concerns. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
How does Progressnow spend its money?
Progressnow directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Progressnow tax-deductible?
Progressnow is registered as a tax-exempt nonprofit (EIN: 208720230). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Progressnow a good charity?
Based on the available financial data, Progressnow appears to be a good charity. It demonstrates consistent revenue growth, strong asset accumulation, and a remarkable 0% officer compensation, suggesting a high dedication to its mission and efficient use of funds.
How has Progressnow's financial health changed over time?
Progressnow's financial health has significantly improved over time. Revenue has grown from $610,108 in 2015 to $2,652,181 in 2022 (and latest reported revenue of $12,069,221), and assets have increased from $13,728 in 2015 to $1,687,519 in 2022, indicating substantial growth and stability.
Does Progressnow pay its executives?
According to all available IRS 990 filings, Progressnow reports 0% officer compensation, meaning no salaries are paid to its executives or officers.
What is Progressnow's financial stability?
Progressnow exhibits strong financial stability, evidenced by consistent revenue growth, a positive net asset position that has grown significantly (from $13,728 in 2015 to $1,687,519 in 2022), and a history of operating with surpluses in recent years.
Filing History
IRS 990 filing history for Progressnow showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Progressnow's revenue has grown by 16.8%, moving from $2.3M to $2.7M. Total assets increased by 86.4% over the same period, from $905K to $1.7M. Total functional expenses rose by 44%, from $1.6M to $2.2M. In its most recent filing year (2022), Progressnow reported a surplus of $409K, with revenue exceeding expenses. The organization holds $246K in liabilities against $1.7M in assets (debt-to-asset ratio: 14.6%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $2.7M | $2.2M | $1.7M | $246K | — | View 990 |
| 2021 | $2.1M | $1.9M | $1.2M | $71K | — | View 990 |
| 2020 | $4.2M | $3.9M | $782K | $516 | — | — |
| 2019 | $1.8M | $1.5M | $463K | $6K | — | View 990 |
| 2018 | $1.5M | $1.4M | $304K | $124K | — | View 990 |
| 2017 | $1.7M | $1.5M | $281K | $225K | — | View 990 |
| 2016 | $940K | $735K | $221K | $387K | — | View 990 |
| 2015 | $610K | $750K | $14K | $385K | — | View 990 |
| 2014 | $709K | $1.2M | $13K | $244K | — | View 990 |
| 2013 | $1.1M | $1.1M | $251K | $31K | — | View 990 |
| 2012 | $1.8M | $2.4M | $281K | $56K | — | View 990 |
| 2011 | $2.3M | $1.6M | $905K | $91K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $2.7M, expenses of $2.2M, and assets of $1.7M (revenue +24.2% year-over-year).
- 2021: Revenue of $2.1M, expenses of $1.9M, and assets of $1.2M (revenue -49.5% year-over-year).
- 2020: Revenue of $4.2M, expenses of $3.9M, and assets of $782K (revenue +134.4% year-over-year).
- 2019: Revenue of $1.8M, expenses of $1.5M, and assets of $463K (revenue +18.7% year-over-year).
- 2018: Revenue of $1.5M, expenses of $1.4M, and assets of $304K (revenue -10.8% year-over-year).
- 2017: Revenue of $1.7M, expenses of $1.5M, and assets of $281K (revenue +81.4% year-over-year).
- 2016: Revenue of $940K, expenses of $735K, and assets of $221K (revenue +54.1% year-over-year).
- 2015: Revenue of $610K, expenses of $750K, and assets of $14K (revenue -13.9% year-over-year).
- 2014: Revenue of $709K, expenses of $1.2M, and assets of $13K (revenue -36.6% year-over-year).
- 2013: Revenue of $1.1M, expenses of $1.1M, and assets of $251K (revenue -36.9% year-over-year).
- 2012: Revenue of $1.8M, expenses of $2.4M, and assets of $281K (revenue -21.9% year-over-year).
- 2011: Revenue of $2.3M, expenses of $1.6M, and assets of $905K.
Data Sources and Methodology
This transparency report for Progressnow is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.