Progressnow Education
Progressnow Education shows volatile revenue, consistent 0% officer compensation, and a recent operating deficit.
EIN: 208720291 · Richmond, VA · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.8M |
| Total Expenses | $3.1M |
| Program Spending | 80% |
| Net Assets | $1.0M |
| Transparency Score | 75/100 |
Is Progressnow Education Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Progressnow Education directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Progressnow Education
Progressnow Education (EIN: 208720291) is a nonprofit organization based in Richmond, VA. The organization reported total revenue of $4.8M and total assets of $4.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Progressnow Education's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Progressnow Education is a mid-size nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.8M |
| Total Expenses | $3.1M |
| Surplus / Deficit | $-309,600 |
| Total Assets | $2.2M |
| Total Liabilities | $1.1M |
| Net Assets | $1.0M |
| Operating Margin | -10.9% |
| Debt-to-Asset Ratio | 52.1% |
| Months of Reserves | 8.3 months |
Financial Health Grade: C
In 2023, Progressnow Education reported a deficit of $310K with expenses exceeding revenue, holds 8.3 months of operating reserves (strong position), has a debt-to-asset ratio of 52.1% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Progressnow Education's revenue has grown at a compound annual growth rate (CAGR) of 7.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +55.0% | +98.2% | +26.7% |
| 2022 | -22.7% | -23.9% | +29.0% |
| 2021 | -92.0% | -92.9% | -16.3% |
| 2020 | +3093.6% | +2149.5% | +23.3% |
| 2019 | -46.7% | +11.8% | +38.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2008 |
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 Education with a Mission Score of 75 out of 100 (Good). 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: 80%
- fundraising: 10%
According to IRS 990 filings, Progressnow Education allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $310K, with expenses exceeding revenue.
- Debt-to-asset ratio: 52.1%.
Executive Compensation Analysis
Progressnow Education consistently reports 0% officer compensation across all available IRS 990 filings, indicating either a fully volunteer executive leadership or that compensation is reported under other expense categories, which would warrant further investigation for full transparency.
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 Education's IRS 990 filings:
- Significant revenue volatility, with a major spike in 2020 and subsequent drops, indicating potential reliance on unpredictable funding.
- Operating deficit in 2023 ($3,144,774 expenses vs. $2,835,174 revenue), which could impact future financial health.
- Increasing liabilities, reaching $1,134,070 in 2023, suggesting growing financial obligations.
- Unknown NTEE code, hindering comparative analysis with peer organizations.
Strengths
The following positive indicators were identified for Progressnow Education:
- Consistent reporting of 0% officer compensation, indicating strong transparency in executive pay.
- General growth in assets over the past decade, from $436,639 in 2014 to $2,177,031 in 2023 (excluding the 2020 anomaly).
- Ability to manage large-scale operations, as demonstrated by the $29 million in expenses in 2020.
Frequently Asked Questions about Progressnow Education
Is Progressnow Education a legitimate charity?
Progressnow Education (EIN: 208720291) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $4.8M. 4 red flags identified. 3 strengths noted. Financial health grade: C.
How does Progressnow Education spend its money?
Progressnow Education directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Progressnow Education tax-deductible?
Progressnow Education is registered as a tax-exempt nonprofit (EIN: 208720291). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Progressnow Education's spending goes to programs?
Progressnow Education directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Progressnow Education located?
Progressnow Education is headquartered in Richmond, Virginia and files with the IRS under EIN 208720291.
How many years of IRS 990 filings does Progressnow Education have?
Progressnow Education has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $4.8M in total revenue.
Why did Progressnow Education experience such a dramatic revenue spike in 2020 ($29,411,544) compared to other years?
The significant increase in revenue in 2020 suggests a major one-time grant, campaign, or event that year, which is not typical of its other operating years. Further investigation into the source of this funding would be beneficial.
How does Progressnow Education manage to operate with 0% reported officer compensation?
This could indicate a fully volunteer executive team, or that executive compensation is categorized differently within the IRS 990, such as under 'salaries and wages' for non-officer roles, which would require a deeper dive into the detailed expense schedules.
What caused the operating deficit in 2023, where expenses ($3,144,774) exceeded revenue ($2,835,174)?
The 2023 deficit suggests that the organization spent more than it brought in, potentially drawing from reserves or increasing liabilities. Understanding the specific reasons for this deficit is crucial for assessing financial sustainability.
What is the NTEE code for Progressnow Education, and how does it align with its stated mission?
The NTEE code is currently unknown, which makes it difficult to benchmark its activities and financial performance against similar organizations. Identifying this code would provide better context for its programmatic focus.
Filing History
IRS 990 filing history for Progressnow Education showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Progressnow Education's revenue has grown by 149.4%, moving from $1.1M to $2.8M. Total assets increased by 1674.1% over the same period, from $123K to $2.2M. Total functional expenses rose by 212.2%, from $1.0M to $3.1M. In its most recent filing year (2023), Progressnow Education reported a deficit of $310K, with expenses exceeding revenue. The organization holds $1.1M in liabilities against $2.2M in assets (debt-to-asset ratio: 52.1%), resulting in net assets of $1.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.8M | $3.1M | $2.2M | $1.1M | — | — |
| 2022 | $1.8M | $1.6M | $1.7M | $372K | — | View 990 |
| 2021 | $2.4M | $2.1M | $1.3M | $10K | — | View 990 |
| 2020 | $29.4M | $29.3M | $1.6M | $513K | — | View 990 |
| 2019 | $921K | $1.3M | $1.3M | $333K | — | View 990 |
| 2018 | $1.7M | $1.2M | $932K | $243K | — | View 990 |
| 2017 | $709K | $829K | $332K | $206K | — | View 990 |
| 2016 | $1.0M | $893K | $444K | $96K | — | View 990 |
| 2015 | $862K | $756K | $400K | $204K | — | View 990 |
| 2014 | $1.1M | $1.2M | $437K | $347K | — | View 990 |
| 2013 | $1.1M | $1.2M | $278K | $80K | — | View 990 |
| 2012 | $1.9M | $1.6M | $377K | $80K | — | View 990 |
| 2011 | $1.1M | $1.0M | $123K | $70K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.8M, expenses of $3.1M, and assets of $2.2M (revenue +55.0% year-over-year).
- 2022: Revenue of $1.8M, expenses of $1.6M, and assets of $1.7M (revenue -22.7% year-over-year).
- 2021: Revenue of $2.4M, expenses of $2.1M, and assets of $1.3M (revenue -92.0% year-over-year).
- 2020: Revenue of $29.4M, expenses of $29.3M, and assets of $1.6M (revenue +3093.6% year-over-year).
- 2019: Revenue of $921K, expenses of $1.3M, and assets of $1.3M (revenue -46.7% year-over-year).
- 2018: Revenue of $1.7M, expenses of $1.2M, and assets of $932K (revenue +143.6% year-over-year).
- 2017: Revenue of $709K, expenses of $829K, and assets of $332K (revenue -32.1% year-over-year).
- 2016: Revenue of $1.0M, expenses of $893K, and assets of $444K (revenue +21.1% year-over-year).
- 2015: Revenue of $862K, expenses of $756K, and assets of $400K (revenue -19.5% year-over-year).
- 2014: Revenue of $1.1M, expenses of $1.2M, and assets of $437K (revenue -5.6% year-over-year).
- 2013: Revenue of $1.1M, expenses of $1.2M, and assets of $278K (revenue -39.9% year-over-year).
- 2012: Revenue of $1.9M, expenses of $1.6M, and assets of $377K (revenue +66.0% year-over-year).
- 2011: Revenue of $1.1M, expenses of $1.0M, and assets of $123K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Progressnow Education:
Data Sources and Methodology
This transparency report for Progressnow Education 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.