Civic Intelligence

Project on Predatory Student Lending Inc.

990 • Fiscal year 2023 • EIN 87-4582545

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 10, 2024

Organization ProfileWWW.PPSL.ORG
769 Centre Street 166Jamaica Plain, MA 02130

(617) 390-2669

Siviq Scores

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

Liabilities / Assets

55th percentile

0.09x

Higher debt load relative to assets than 55% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

47th percentile

0.07x

Higher debt load relative to revenue than 47% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

65th percentile

12%

Higher net margin than 65% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

88th percentile

$181,187

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 8.3% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

81st percentile

26%

Faster asset growth than 81% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

43rd percentile

2.7%

Faster revenue growth than 43% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets55th percentile

Assets

Up

$1,766,232

Up $366,982 (+26%) from 2022

Net Assets

Up

$1,606,348

Up $266,579 (+20%) from 2022

Liabilities

Up

$159,884

Up $100,403 (+169%) from 2022

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin65th percentile

Revenue

Up

$2,187,729

Up $56,592 (+2.7%) from 2022

Expenses

Up

$1,921,151

Up $1,129,783 (+143%) from 2022

Net Income

Down

$266,578

Down $1,073,191 (-80%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

$6.0M$4.0M$2.0M$0Assets 2022: $1,399,250Liabilities 2022: $59,481Net Assets 2022: $1,339,7692022Assets 2023: $1,766,232Liabilities 2023: $159,884Net Assets 2023: $1,606,3482023Assets 2024: $5,020,146Liabilities 2024: $91,634Net Assets 2024: $4,928,5122024

Highlighted filing

2023

Assets$1,766,232
Liabilities$159,884
Net Assets$1,606,348
Open 2023 Filing

Operations Trend

Revenue Growth43rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0Revenue 2022: $2,131,137Expenses 2022: $791,368Net Income 2022: $1,339,7692022Revenue 2023: $2,187,729Expenses 2023: $1,921,151Net Income 2023: $266,5782023Revenue 2024: $5,929,576Expenses 2024: $2,578,698Net Income 2024: $3,350,8782024

Highlighted filing

2023

Revenue$2,187,729
Expenses$1,921,151
Net Income$266,578
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 10, 2024
Return Version
2023v5.1
Gross Receipts
$2,187,729
Mission and Program Overview

Mission

The project on predatory student lending is the leading legal organization representing students against the predatory for-profit college industry and the policies that enable the industry to exploit the promise of higher education to cheat student borrowers and taxpayers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$573,587$696,530▲ $122,943
Savings and Temporary Cash Investments-$654,238-
Pledges and Grants Receivable$825,663$320,000▼ $505,663
Prepaid Expenses and Deferred Charges-$16,064-
Total Assets$1,399,250$1,766,232▲ $366,982
Other Assets Total$0$79,400▲ $79,400
Liabilities
Accounts Payable and Accrued Expenses$59,481$80,528▲ $21,047
Other Liabilities$0$79,356▲ $79,356
Total Liabilities$59,481$159,884▲ $100,403
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$661,452$1,436,348▲ $774,896
Net Assets With Donor Restrictions$678,317$170,000▼ $508,317
Total Net Assets Fund Balance$1,339,769$1,606,348▲ $266,579
Total Liabilities and Net Assets / Fund Balance$1,399,250$1,766,232▲ $366,982
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Eileen ConnorPresidentFT$181,187$181,187

Board Members and Trustees

NameTitle
Mike FirestoneBoard Chair
MARGARET O'GRADYClerk
Persis YuMember
Yvette ColonMember
Jennifer BennettTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,456,285
Program Service Revenue
$708,045
Investment Income
$23,399
Other Revenue
$0
All Other Contributions
$1,456,285
Change in Net Assets
$266,578

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,187,729
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,187,729
Total Revenue per Form 990
$2,187,729
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,432,089
Other Expenses$489,062
Total Fundraising Expense$57,687
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$942,278$127,626$39,651$1,109,555
Other Employee Benefits$174,972$54,387$6,163$235,522
Fees for Services Other$15,796$110,426$5,789$132,011
Advertising$95,301$7,591$60$102,952
Fees for Services Legal$99,776$1,164-$100,940
Payroll Taxes$68,330$15,871$2,811$87,012
Travel$37,566$4,459$34$42,059
Fees for Services Accounting-$36,207$1,949$38,156
Occupancy$15,679$4,598$685$20,962
Insurance$7,452$262$82$7,796
All Other Expenses-$5,701-$5,701
Other Expenses$4,185$399$180$4,584
Depreciation Depletion$2,706$649$97$3,452
Office Expenses$518$1,309-$1,827
Total Functional Expenses$1,482,058$381,406$57,687$1,921,151

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,921,151
Total Expenses per Audited Statements$1,921,151
Total Expenses per Form 990$1,921,151
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$79,356
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
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
No
Other officer compensation reviewed
Yes
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

“The organization at a board meeting distributes the annual 990 tax returns. The board reviews in detail, votes to accept and file tax return.”

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

“The policy is reviewed prior to each new board member joining the board of directors.”

Form 990, Part VI, Section B, Line 15B

“The board of directors evaluates and votes to approve compensation for the organization's key employees.”

Form 990, Part VI, Section C, Line 19

“The organization will make governing documents available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Project on Predatory Student Lending
EIN
87-4582545
Phone
6173902669
Address
769 CENTRE STREET 166, JAMAICA PLAIN, MA 02130

Signing Officer

Name
Eileen Connor
Title
President
Phone
6173902669
Signed
2024-07-10

Organization Details

Principal Officer
Eileen Connor
Formed
2022
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
5
Employees
11
Volunteers
0

Preparer

Firm
James a George Pc
Address
300 BRICKSTONE SQUARE SUITE 201, ANDOVER, MA 01810
Phone
7812458200
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The organization is exempt from income taxes as a charitable organization under section 501(c)(3) of the internal revenue code and is not classified as a private foundation. The organization accounts for uncertainty in income taxes in accordance with asc topic, income taxes. This standard clarifies the accounting for uncertainty in tax positions and prescribes a recognition threshold and measurement attribute for the financial statement regarding a tax position taken or expected to be taken on a tax return. The organization has determined that there are no uncertain tax positions which qualify for either recognition or disclosure in the financial statements at december 31, 2023. The organization's information returns are subject to examination by the federal and state jurisdictions and generally remain open for the most recent three years.”

Raw XML AppendixShowing 400 of 421 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION AT A BOARD MEETING DISTRIBUTES THE ANNUAL 990 TAX RETURNS. THE BOARD REVIEWS IN DETAIL, VOTES TO ACCEPT AND FILE TAX RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE POLICY IS REVIEWED PRIOR TO EACH NEW BOARD MEMBER JOINING THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS EVALUATES AND VOTES TO APPROVE COMPENSATION FOR THE ORGANIZATION'S KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION WILL MAKE GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,766,232
Liabilities
$159,884
Net assets
$1,606,348
Revenue
$2,187,729
Expenses
$1,921,151
Net income
$266,578
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.02$0.09$4.93$5.93$2.58$3.35
2023Detailed filing. Detailed filing data is available for this year.$1.77$0.16$1.61$2.19$1.92$0.27
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.40$0.06$1.34$2.13$0.79$1.34