Civic Intelligence

The Valedictorian Project Inc

EIN 85-2099157 • 501(c)3 • Boston, MA

Profile

The valedictorian project's mentoring relationships break down barriers to equity and close the education -to-employment gap for high-achieving students from urban schools. We recruit and train mentors who are passionate change-makers and committed to a more just future. We beleive in a more equitable future where every student has the network and guiedeance to achieve their goals.

398 Columbus Ave 506Boston, MA 02116

www.thevalproj.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

64th percentile

0.07x

Higher debt load relative to assets than 64% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

57th percentile

0.03x

Higher debt load relative to revenue than 57% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

48th percentile

3.1%

Higher net margin than 48% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

94th percentile

$156,000

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 24.6% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

64th percentile

9.5%

Faster asset growth than 64% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

73rd percentile

28%

Faster revenue growth than 73% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Up

$279,665

Up $24,303 (+9.5%) from 2023

Liabilities

Up

$19,646

Up $4,355 (+28%) from 2023

Net Assets

Up

$260,019

Up $19,948 (+8.3%) from 2023

Revenue

Up

$635,200

Up $139,410 (+28%) from 2023

Expenses

Up

$615,252

Up $44,250 (+7.7%) from 2023

Net Income

Up

$19,948

Up $95,160 (+127%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400K$300K$200K$100K$0Assets 2021: $126,056Liabilities 2021: $50Net Assets 2021: $126,0062021Assets 2022: $325,286Liabilities 2022: $10,003Net Assets 2022: $315,2832022Assets 2023: $255,362Liabilities 2023: $15,291Net Assets 2023: $240,0712023Assets 2024: $279,665Liabilities 2024: $19,646Net Assets 2024: $260,0192024

Highlighted filing

2024

Assets$279,665
Liabilities$19,646
Net Assets$260,019

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$800K$600K$400K$200K$0-$200KRevenue 2021: $195,328Expenses 2021: $69,322Net Income 2021: $126,0062021Revenue 2022: $490,230Expenses 2022: $300,953Net Income 2022: $189,2772022Revenue 2023: $495,790Expenses 2023: $571,002Net Income 2023: -$75,2122023Revenue 2024: $635,200Expenses 2024: $615,252Net Income 2024: $19,9482024

Highlighted filing

2024

Revenue$635,200
Expenses$615,252
Net Income$19,948

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$635,200
Mission and Program Overview

Mission

The valedictorian project's mentoring relationships break down barriers to equity and close the education -to-employment gap for high-achieving students from urban schools. We recruit and train mentors who are passionate change-makers and committed to a more just future, we believe in a more equitable future where every student has the network and guidance to achieve their goals.

To provide mentorship and assistance to high school valedictorians and other high school students

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$193,612$188,439▼ $5,173
Pledges and Grants Receivable$61,750$78,215▲ $16,465
Total Assets$255,362$279,665▲ $24,303
Other Assets Total-$13,011-
Liabilities
Accounts Payable and Accrued Expenses$15,291$19,646▲ $4,355
Total Liabilities$15,291$19,646▲ $4,355
Net Assets / Fund Balance
Net Assets With Donor Restrictions$102,683$140,070▲ $37,387
Net Assets Without Donor Restrictions$137,388$119,949▼ $17,439
Total Net Assets Fund Balance$240,071$260,019▲ $19,948
Total Liabilities and Net Assets / Fund Balance$255,362$279,665▲ $24,303
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Amy McdermottExecutive DiFT$150,000$6,000$156,000
Amy McdermottExecutive Director-$150,000$6,000$156,000

Board Members and Trustees

NameTitle
Warren TolmanBoard Chair
Dan RiveraDirector
David MannheimDirector
Emanuel AlvesDirector
Jacob CitrinDirector
Lenworth WilliamsonDirector
Renee LandersDirector
Jon SantigoSecretary
Greace Cotter ReganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$634,150
Program Service Revenue
$0
Investment Income
$1,050
Other Revenue
$0
All Other Contributions
$634,150
Change in Net Assets
$19,948
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$253,993
Grants and Similar Amounts Paid$224,389
Total Fundraising Expense$124,715
Other Expenses$81,870
Professional Fundraising Fees$55,000

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$128,135$44,843$52,243$225,221
Grants to Domestic Individuals$224,389--$224,389
Fees for Services Professional Fundraising--$55,000$55,000
Payroll Taxes$10,164$3,557$4,144$17,865
Office Expenses$5,639$9,848$1,310$16,797
Other Expenses$4,724$751$3,063$8,538
Pension Plan Contributions$4,831$1,691$1,970$8,492
Fees for Services Other-$2,925$4,237$7,162
Fees for Services Accounting-$5,750-$5,750
Other Employee Benefits$1,374$481$560$2,415
Travel--$2,188$2,188
Total Functional Expenses$420,691$69,846$124,715$615,252
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$55,000
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A draft of the 990 is reviewed by the executive director, president and board before filing.

Form 990, Page 6, Part VI, Line 12C

The organization has a written conflict of interest policy that is approved annually by the board and in any situation that a conflict may arise, that board member recuses themselves from any discussion.

Form 990, Page 6, Part VI, Line 15A

The board of directors reviewed the financial information of like kind organizations of size and mission in help to set the compensation of the executive director,

Form 990, Page 6, Part VI, Line 19

All public information of governing documents, conflict of interest policy and financial statements are available to the public upon request as well as on guidestar and the massachusetts attorney general's website.

Filing and Contact Details

Filer

Filer Name
The Valedictorian Project Inc
EIN
85-2099157
Phone
6179222640
Address
398 COLUMBUS AVE 506, BOSTON, MA 02116

Signing Officer

Name
Warren Tolman
Title
Board Chair
Phone
6179222640
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Warren Tolman
Formed
2020
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
9
Employees
2
Volunteers
270

Preparer

Firm
Morneau & Blanchette Inc
Address
25 LINCOLN ST, FRAMINGHAM, MA 01702
Preparer
Barry N Chait
Phone
5086511040
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The valedictorian project's mentoring relationships break down barriers to equity and close the education -to-employment gap for high-achieving students from urban schools. We recruit and train mentors who are passionate change-makers and committed to a more just future. We beleive in a more equitable future where every student has the network and guiedeance to achieve their goals.

Form 990, Page 2, Part III, Line 4A

In 2024, the valedictorian project (tvp) provided one-on-one mentorship, targeted student support, and professional coaching to over 130 high- achieving, first-generation college students across massachusetts. Our volunteer mentors-who are all accomplished professionals-provided consistent academic, personal, and career guidance to students attending over 60 colleges and universities. Tvp supported students through individualized mentorship, emergency financial assistance, skill-building workshops, and our custom platform, tvp connect. Our impact remains strong: the average gpa of students in our program was 3.3, 91% of mentees agreed their mentor helped them navigate college challenges, and over 80% of our most recent graduates are pursuing graduate school or career-track employment

Form 990, Part XII

Form 990 part xii, question 2c during the tax year, the project had an independent committee to choose the accounting firm that performend the review of the financial statements.

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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0PART II, SHORT YEAR EXPLANATION: THE ORGANIZATION WAS INCORPORATED ON JUNE 8, 2020 AND THE FIRST YEAR WAS 22 DAYS AND ENDED ON JUNE 30, 2020. NO REVENUE AS RECEIVED IN THESE 22 DAYS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SUPPLEMENTAL INFORMATION
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0195328
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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleG/FundraiserActivityInfoGrp/ActivityTxt0STRATEGIC
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IRS990ScheduleG/FundraiserActivityInfoGrp/PersonNm0DLM STRATEGIES
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IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine1Txt06 ESSEX STREET
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine2Txt06 ESSEX STREET
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/CityNm0CHARLESTOWN
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IRS990ScheduleG/SolicitationOfNonGovtGrantsInd0X
IRS990ScheduleG/SupplementalInformationDetail/ExplanationTxt0DLM STRATEGIES STATEGIC PLANNING & SOLICIATATION OF CONTRIBUTIONS
IRS990ScheduleG/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE G, PAGE 1, PART I, LINE 2B, COLUMN (V)
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IRS990ScheduleG/TotalRetainedByContractorsAmt055000
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt161889
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0RAPPAPORT SUMMER FELLOWS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1MENTEE SUPPORT PROGRAM
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt1130
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0AMY MCDERMOTT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE VALEDICTORIAN PROJECT'S MENTORING RELATIONSHIPS BREAK DOWN BARRIERS TO EQUITY AND CLOSE THE EDUCATION -TO-EMPLOYMENT GAP FOR HIGH-ACHIEVING STUDENTS FROM URBAN SCHOOLS. WE RECRUIT AND TRAIN MENTORS WHO ARE PASSIONATE CHANGE-MAKERS AND COMMITTED TO A MORE JUST FUTURE. WE BELEIVE IN A MORE EQUITABLE FUTURE WHERE EVERY STUDENT HAS THE NETWORK AND GUIEDEANCE TO ACHIEVE THEIR GOALS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IN 2024, THE VALEDICTORIAN PROJECT (TVP) PROVIDED ONE-ON-ONE MENTORSHIP, TARGETED STUDENT SUPPORT, AND PROFESSIONAL COACHING TO OVER 130 HIGH- ACHIEVING, FIRST-GENERATION COLLEGE STUDENTS ACROSS MASSACHUSETTS. OUR VOLUNTEER MENTORS-WHO ARE ALL ACCOMPLISHED PROFESSIONALS-PROVIDED CONSISTENT ACADEMIC, PERSONAL, AND CAREER GUIDANCE TO STUDENTS ATTENDING OVER 60 COLLEGES AND UNIVERSITIES. TVP SUPPORTED STUDENTS THROUGH INDIVIDUALIZED MENTORSHIP, EMERGENCY FINANCIAL ASSISTANCE, SKILL-BUILDING WORKSHOPS, AND OUR CUSTOM PLATFORM, TVP CONNECT. OUR IMPACT REMAINS STRONG: THE AVERAGE GPA OF STUDENTS IN OUR PROGRAM WAS 3.3, 91% OF MENTEES AGREED THEIR MENTOR HELPED THEM NAVIGATE COLLEGE CHALLENGES, AND OVER 80% OF OUR MOST RECENT GRADUATES ARE PURSUING GRADUATE SCHOOL OR CAREER-TRACK EMPLOYMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A DRAFT OF THE 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR, PRESIDENT AND BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT IS APPROVED ANNUALLY BY THE BOARD AND IN ANY SITUATION THAT A CONFLICT MAY ARISE, THAT BOARD MEMBER RECUSES THEMSELVES FROM ANY DISCUSSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS REVIEWED THE FINANCIAL INFORMATION OF LIKE KIND ORGANIZATIONS OF SIZE AND MISSION IN HELP TO SET THE COMPENSATION OF THE EXECUTIVE DIRECTOR,
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL PUBLIC INFORMATION OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AS WELL AS ON GUIDESTAR AND THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FORM 990 PART XII, QUESTION 2C DURING THE TAX YEAR, THE PROJECT HAD AN INDEPENDENT COMMITTEE TO CHOOSE THE ACCOUNTING FIRM THAT PERFORMEND THE REVIEW OF THE FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0615252
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