Friends Of Compass Inc
- Assets
- $1.6m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 23
- Location
- Washington, DC
- Founding
- 02/2009
- Data as of
- 06/2023
- EIN
- 26-3724642
Organization Overview
Friends Of Compass Inc, operating under the name Compass Pro Bono, is located in Washington, DC. The organization was established in 2009. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2023, Compass Pro Bono employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Compass Pro Bono is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Compass Pro Bono generated $1.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $1.6m during the year ending 06/2023. While expenses have increased by 8.7% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRO BONO CONSULTING. WITH LOCATIONS IN DC, PHILADELPHIA, CHICAGO, AND THE TWIN CITIES, COMPASS PRO BONO RECRUITS AND TRAINS VOLUNTEERS FROM THE LOCAL BUSINESS COMMUNITY AND MATCHES THEM WITH NONPROFITS TO DELIVER A FULL RANGE OF HIGHLY CUSTOMIZED, PRO BONO, BUSINESS STRATEGY CONSULTING SERVICES. OUR PROGRAMS INCLUDE BOTH CONSULTING TEAM AND 1:1 ENGAGEMENTS. IN 2022-2023, WE CONNECTED OVER 800 VOLUNTEERS WITH NEARLY 200 NONPROFITS TO ADDRESS KEY STRATEGIC BUSINESS CHALLENGES AND OPPORTUNITIES IN AREAS INCLUDING FUNDRAISING STRATEGY, MARKETING STRATEGY, TECHNOLOGY STRATEGY, GOVERNANCE, AND GROWTH AND IMPACT PLANS.
THE SORKIN CENTER AT COMPASS PRO BONO DELIVERED A VARIETY OF PROGRAMS THAT BOLSTERED NONPROFIT LEADERSHIP AND GOVERNANCE EXCELLENCE. THROUGH ON BOARD, IT VETTED, TRAINED, AND MATCHED MORE THAN 40 MEMBERS OF LOCAL BUSINESS COMMUNITIES TO LOCAL NONPROFIT BOARDS. THE SIXTH ANNUAL SORKIN SUMMIT IN MAY 2023 EDUCATED OVER 200 NONPROFIT LEADERS AND BOARD MEMBERS FROM ACROSS THE COUNTRY WITH TRAINING FROM BUSINESS LEADERS WHO VOLUNTEERED THEIR EXPERTISE IN GOVERNANCE, NONPROFIT FINANCE, FUNDRAISING, AND BOARDS' ROLES IN ADVANCING DEI. 6 NONPROFIT CEOS / EXECUTIVE DIRECTORS PARTICIPATED IN OUR 3RD COMPREHENSIVE DEI COHORT, WHERE THEY LEARNED FROM, AND RECEIVED 1:1 MENTORING FROM, VOLUNTEER DEI EXPERTS. THE SORKIN CENTER ALSO PROVIDED LOW BONO BESPOKE STRATEGIC PLANNING SERVICES AND NONPROFIT EXCELLENCE TRAINING TO DC-AREA NONPROFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cathy Bernasek Chair | OfficerTrustee | 8 | $0 |
Lucretia Risoleo Secretary | OfficerTrustee | 4 | $0 |
Hurley Doddy Treasurer | OfficerTrustee | 4 | $0 |
Ern Blackwelder Director | Trustee | 4 | $0 |
Rajib Chanda Director | Trustee | 4 | $0 |
Hilary Joel Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $87 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,254,498 |
| Noncash contributions included in lines 1a–1f | $14,909 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,254,585 |
| Total Program Service Revenue | $174,465 |
| Investment income | $25,595 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,800 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,456,445 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $256,280 |
| Compensation of current officers, directors, key employees. | $9,667 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $832,073 |
| Pension plan accruals and contributions | $8,208 |
| Other employee benefits | $29,121 |
| Payroll taxes | $86,324 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $150 |
| Fees for services: Accounting | $83,208 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $5,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $86,673 |
| Advertising and promotion | $0 |
| Office expenses | $9,832 |
| Information technology | $38,708 |
| Royalties | $0 |
| Occupancy | $35,012 |
| Travel | $8,434 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,328 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,823 |
| All other expenses | $5,369 |
| Total functional expenses | $1,556,917 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $385,382 |
| Savings and temporary cash investments | $1,022,776 |
| Pledges and grants receivable | $173,956 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,560 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,325 |
| Total assets | $1,594,999 |
| Accounts payable and accrued expenses | $64,003 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $64,003 |
| Net assets without donor restrictions | $1,388,535 |
| Net assets with donor restrictions | $142,461 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,594,999 |