Civic Intelligence

The Valedictorian Project Inc

990 • Fiscal year 2023 • EIN 85-2099157

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 25, 2024

Organization ProfileWWW.THEVALPROJ.ORG
398 Columbus Ave 506Boston, MA 02116

(617) 922-2640

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

77th percentile

0.06x

Higher debt load relative to assets than 77% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

75th percentile

0.03x

Higher debt load relative to revenue than 75% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

23rd percentile

-15%

Higher net margin than 23% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

99th percentile

$140,400

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 28.3% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

22nd percentile

-21%

Faster asset growth than 22% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

46th percentile

1.1%

Faster revenue growth than 46% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets77th percentile

Assets

Down

$255,362

Down $69,924 (-21%) from 2022

Net Assets

Down

$240,071

Down $75,212 (-24%) from 2022

Liabilities

Up

$15,291

Up $5,288 (+53%) from 2022

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin23rd percentile

Revenue

Up

$495,790

Up $5,560 (+1.1%) from 2022

Expenses

Up

$571,002

Up $270,049 (+90%) from 2022

Net Income

Down

-$75,212

Down $264,489 (-140%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2023

Assets$255,362
Liabilities$15,291
Net Assets$240,071
Open 2023 Filing

Operations Trend

Revenue Growth46th percentile

Revenue, expenses, and net income across loaded years, with this 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

2023

Revenue$495,790
Expenses$571,002
Net Income-$75,212
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 25, 2024
Return Version
2022v5.0
Gross Receipts
$495,790
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$300,286$193,612▼ $106,674
Pledges and Grants Receivable$25,000$61,750▲ $36,750
Total Assets$325,286$255,362▼ $69,924
Liabilities
Accounts Payable and Accrued Expenses$10,003$15,291▲ $5,288
Total Liabilities$10,003$15,291▲ $5,288
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$211,521$137,388▼ $74,133
Net Assets With Donor Restrictions$103,762$102,683▼ $1,079
Total Net Assets Fund Balance$315,283$240,071▼ $75,212
Total Liabilities and Net Assets / Fund Balance$325,286$255,362▼ $69,924
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Amy McdermottExecutive DirectorFT$135,000$5,400$140,400

Board Members and Trustees

NameTitle
Warren TolmanBoard Chair/clerk
Dan RiveraDirector
David MannheimDirector
Jacob CitrinDirector
Renee LaundersDirector
Tanya BenzanDirector
Jon SantiagoSecretary
Grace ReganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$495,790
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$495,790
Change in Net Assets
$-75,212
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$196,719
Salaries, Compensation, and Employee Benefits$195,182
Other Expenses$119,101
Total Fundraising Expense$97,728
Professional Fundraising Fees$60,000

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$196,719--$196,719
Current Officers, Directors, Trustees, and Key Employees$70,200$40,500$24,300$135,000
Fees for Services Professional Fundraising--$60,000$60,000
Fees for Services Other$53,707$5,214-$58,921
Other Salaries and Wages$31,403$5,599$2,800$39,802
All Other Expenses$7,584$6,613$435$14,632
Payroll Taxes$8,143$3,695$2,172$14,010
Fees for Services Accounting-$9,540-$9,540
Pension Plan Contributions$3,421$1,552$1,397$6,370
Other Expenses$2,982$1,054$1,270$5,306
Total Functional Expenses$399,507$73,767$97,728$571,002
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$60,000
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, Part VI, Section B, Line 11B

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

Form 990, Part VI, Section B, Line 12C

“The organization has a written conflict of interest policy that is signed annually by all board members and in any situation that a conflict may arise, that board member recuses themselves from any discussion.”

Form 990, Part VI, Section B, 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, Part VI, Section C, 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.”

Form 990 Part VI Section B Lines 13 & 14- Policies

“For the year ended june 30, 2022 the valedictorian project adopted both whistleblower and document retention policies which were put in effect.”

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
2024-01-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Warren Tolman
Formed
2020
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
8
Employees
3
Volunteers
180

Preparer

Firm
Gannon CPA LLC
Address
PO BOX 421, CHELMSFORD, MA 01824
Preparer
Barry Chait
Phone
9782442470
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Finance consultant: program service expenses 0. Management and general expenses 5,214. Fundraising expenses 0. Total expenses 5,214. Program consultant: program service expenses 16,900. Management and general expenses 0. Fundraising expenses 0. Total expenses 16,900. Communications and media: program service expenses 36,807. Management and general expenses 0. Fundraising expenses 0. Total expenses 36,807.”

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE ORGANIZATION WAS INCORPORATED ON JUNE 8, 2020 AND THE FIRST YEAR WAS 22 DAYS AND ENDED ON JUNE 30, 2020. NO REVENUE WAS RECEIVED IN THESE 22 DAYS.
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0195328
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01181348
IRS990ScheduleA/TotalSupportAmt01181348
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleG/AgrmtProfFundraisingActyInd01
IRS990ScheduleG/EmailSolicitationsInd0X
IRS990ScheduleG/FundraiserActivityInfoGrp/ActivityTxt0STRATEGIC PLANNING AND SOLICITATION OF CONTRIBUTIONS
IRS990ScheduleG/FundraiserActivityInfoGrp/FundraiserControlOfFundsInd00
IRS990ScheduleG/FundraiserActivityInfoGrp/GrossReceiptsAmt0242937
IRS990ScheduleG/FundraiserActivityInfoGrp/NetToOrganizationAmt0182937
IRS990ScheduleG/FundraiserActivityInfoGrp/OrganizationBusinessName/BusinessNameLine1Txt0DLM STRATEGIES
IRS990ScheduleG/FundraiserActivityInfoGrp/RetainedByContractorAmt060000
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine1Txt06 ESSEX STREET
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/CityNm0CHARLESTOWN
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/StateAbbreviationCd0MA
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/ZIPCd002129
IRS990ScheduleG/LicensedStatesCd0MA
IRS990ScheduleG/MailSolicitationsInd0X
IRS990ScheduleG/SolicitationOfNonGovtGrantsInd0X
IRS990ScheduleG/TotalGrossReceiptsAmt0242937
IRS990ScheduleG/TotalNetToOrganizationAmt0182937
IRS990ScheduleG/TotalRetainedByContractorsAmt060000
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0150000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt146719
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0RAPPAPORT SUMMER STIPEND
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1MENTEE SUPPORT FUND
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt030
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt175
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0135000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt05400
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0AMY MCDERMOTT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0140400
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF THE 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR, PRESIDENT AND BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT IS SIGNED ANNUALLY BY ALL BOARD MEMBERS AND IN ANY SITUATION THAT A CONFLICT MAY ARISE, THAT BOARD MEMBER RECUSES THEMSELVES FROM ANY DISCUSSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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/ExplanationTxt3ALL 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/ExplanationTxt4FOR THE YEAR ENDED JUNE 30, 2022 THE VALEDICTORIAN PROJECT ADOPTED BOTH WHISTLEBLOWER AND DOCUMENT RETENTION POLICIES WHICH WERE PUT IN EFFECT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FINANCE CONSULTANT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 5,214. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,214. PROGRAM CONSULTANT: PROGRAM SERVICE EXPENSES 16,900. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,900. COMMUNICATIONS AND MEDIA: PROGRAM SERVICE EXPENSES 36,807. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 36,807.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990 PART VI SECTION B LINES 13 & 14- POLICIES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0325286
IRS990/TotalAssetsEOYAmt0255362
IRS990/TotalAssetsGrp/BOYAmt0325286
IRS990/TotalAssetsGrp/EOYAmt0255362
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0495790
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt097728
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt073767
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0399507
IRS990/TotalFunctionalExpensesGrp/TotalAmt0571002
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010003
IRS990/TotalLiabilitiesEOYAmt015291
IRS990/TotalLiabilitiesGrp/BOYAmt010003
IRS990/TotalLiabilitiesGrp/EOYAmt015291
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0315283
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0240071
IRS990/TotalOtherCompensationAmt05400
IRS990/TotalProgramServiceExpensesAmt0399507
IRS990/TotalReportableCompFromOrgAmt0135000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0495790
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt0180
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0325286
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0255362
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0398 COLUMBUS AVE 506
IRS990/USAddress/CityNm0BOSTON
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002116
IRS990/VotingMembersGoverningBodyCnt08

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$255,362
Liabilities
$15,291
Net assets
$240,071
Revenue
$495,790
Expenses
$571,002
Net income
-$75,212
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.80$0.20$2.60$6.35$6.15$0.20
2023Detailed filing. Detailed filing data is available for this year.$2.55$0.15$2.40$4.96$5.71$0.75
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.25$0.10$3.15$4.90$3.01$1.89
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.26$0.00$1.26$1.95$0.69$1.26