Propel Inc
Propel Inc. shows strong financial growth and zero officer compensation in recent filings.
EIN: 10793986 · Boca Raton, FL · NTEE: O50 · Updated: 2026-03-28
Is Propel Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Propel Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Propel Inc
Propel Inc (EIN: 10793986) is a nonprofit organization based in Boca Raton, FL, classified under NTEE code O50. The organization reported total revenue of $1.1M and total assets of $1.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Propel Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Propel Inc is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 22.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.3M |
| Total Expenses | $1.2M |
| Surplus / Deficit | +$1.1M |
| Total Assets | $1.4M |
| Total Liabilities | $32K |
| Net Assets | $1.3M |
| Operating Margin | 46.5% |
| Debt-to-Asset Ratio | 2.3% |
| Months of Reserves | 13.1 months |
Financial Health Grade: A
In 2023, Propel Inc reported a surplus of $1.1M with revenue exceeding expenses, holds 13.1 months of operating reserves (strong position), has a debt-to-asset ratio of 2.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Propel Inc's revenue has grown at a compound annual growth rate (CAGR) of 22.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +107.0% | +13.0% | +263.7% |
| 2022 | +208.7% | +228.4% | +61.6% |
| 2021 | +41.9% | +31.7% | -3.7% |
| 2020 | -17.2% | -45.1% | +24.8% |
| 2019 | -41.9% | -17.5% | -45.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Propel Inc 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Propel Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% 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 surplus of $1.1M, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no salaries were paid to officers, which is highly unusual for an organization of its size with over $2 million in revenue in 2023.
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 Propel Inc's IRS 990 filings:
- Unusually low reported liabilities relative to assets in some periods, which could warrant further investigation into financial reporting practices.
- The consistent 0% officer compensation for an organization with over $2 million in revenue is highly unusual and might suggest that executive compensation is being reported under other expense lines, or that the organization is entirely volunteer-run at the executive level, which is rare for its scale.
Strengths
The following positive indicators were identified for Propel Inc:
- Strong revenue growth, particularly in the 202312 period, with revenue of $2,332,123.
- Significant asset growth, reaching $1,363,757 in 202312, indicating financial stability and capacity.
- Consistent reporting of 0% officer compensation, suggesting a high dedication of funds to programmatic activities.
- Healthy financial position with expenses significantly lower than revenue in the latest period ($1,247,169 vs. $2,332,123).
Frequently Asked Questions about Propel Inc
Is Propel Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Propel Inc (EIN: 10793986) some concerns. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
How does Propel Inc spend its money?
Propel Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Propel Inc tax-deductible?
Propel Inc is registered as a tax-exempt nonprofit (EIN: 10793986). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Propel Inc. a good charity?
Based on the provided financial data, Propel Inc. appears to be a financially healthy organization with strong revenue growth and a notable commitment to not paying officer compensation, suggesting a high dedication to its mission.
How has Propel Inc.'s financial health changed over time?
Propel Inc. has shown significant financial growth, particularly from 2021 to 2023. Revenue jumped from $365,070 in 2021 to $2,332,123 in 2023, and assets increased from $232,092 to $1,363,757 in the same period, indicating robust expansion.
What is the significance of 0% officer compensation?
0% officer compensation means that no salaries were reported for the organization's officers. This can indicate that officers are volunteers, or that compensation is reported under other expense categories, but as reported, it suggests a very lean administrative cost structure at the executive level.
Filing History
IRS 990 filing history for Propel Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Propel Inc's revenue has grown by 1064.6%, moving from $200K to $2.3M. Total assets increased by 1326.5% over the same period, from $96K to $1.4M. Total functional expenses rose by 600.4%, from $178K to $1.2M. In its most recent filing year (2023), Propel Inc reported a surplus of $1.1M, with revenue exceeding expenses. The organization holds $32K in liabilities against $1.4M in assets (debt-to-asset ratio: 2.3%), resulting in net assets of $1.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.3M | $1.2M | $1.4M | $32K | — | — |
| 2022 | $1.1M | $1.1M | $375K | $128K | — | View 990 |
| 2021 | $365K | $336K | $232K | $8K | — | View 990 |
| 2020 | $257K | $255K | $241K | $46K | — | View 990 |
| 2019 | $311K | $465K | $193K | $0 | — | View 990 |
| 2018 | $535K | $564K | $357K | $9K | — | View 990 |
| 2017 | $414K | $528K | $385K | $9K | — | View 990 |
| 2016 | $378K | $473K | $515K | $25K | — | View 990 |
| 2015 | $420K | $325K | $595K | $8K | — | View 990 |
| 2014 | $348K | $243K | $492K | $985 | — | View 990 |
| 2013 | $488K | $260K | $388K | $2K | — | View 990 |
| 2012 | $291K | $227K | $176K | $18K | — | View 990 |
| 2011 | $200K | $178K | $96K | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.3M, expenses of $1.2M, and assets of $1.4M (revenue +107.0% year-over-year).
- 2022: Revenue of $1.1M, expenses of $1.1M, and assets of $375K (revenue +208.7% year-over-year).
- 2021: Revenue of $365K, expenses of $336K, and assets of $232K (revenue +41.9% year-over-year).
- 2020: Revenue of $257K, expenses of $255K, and assets of $241K (revenue -17.2% year-over-year).
- 2019: Revenue of $311K, expenses of $465K, and assets of $193K (revenue -41.9% year-over-year).
- 2018: Revenue of $535K, expenses of $564K, and assets of $357K (revenue +29.3% year-over-year).
- 2017: Revenue of $414K, expenses of $528K, and assets of $385K (revenue +9.6% year-over-year).
- 2016: Revenue of $378K, expenses of $473K, and assets of $515K (revenue -10.1% year-over-year).
- 2015: Revenue of $420K, expenses of $325K, and assets of $595K (revenue +20.6% year-over-year).
- 2014: Revenue of $348K, expenses of $243K, and assets of $492K (revenue -28.7% year-over-year).
- 2013: Revenue of $488K, expenses of $260K, and assets of $388K (revenue +67.6% year-over-year).
- 2012: Revenue of $291K, expenses of $227K, and assets of $176K (revenue +45.5% year-over-year).
- 2011: Revenue of $200K, expenses of $178K, and assets of $96K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Propel Inc:
Data Sources and Methodology
This transparency report for Propel Inc 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.