College Possible
- Assets
- $23.6m
- Revenue
- $24.6m
- Investments
- $0.0
- Employees
- 709
- Location
- Saint Paul, MN
- Founding
- 06/2000
- Data as of
- 06/2023
- EIN
- 41-1968798
Organization Overview
College Possible is located in Saint Paul, MN. The organization was established in 2000. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2023, College Possible employed 709 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. College Possible 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, College Possible generated $24.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $28.2m during the year ending 06/2023. While expenses have increased by 8.1% per year over the past 7 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
COLLEGE POSSIBLE IS MAKING COLLEGE ADMISSION AND SUCCESS POSSIBLE FOR STUDENTS FROM LOW-INCOME BACKGROUNDS THROUGH AN INTENSIVE CURRICULUM OF COACHING AND SUPPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FLAGSHIP: SEE SCHEDULE O.
CATALYZE: SEE SCHEDULE O.
COLLEGEPOINT: SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Albert Fan Ex Officio Dir Interim Ceo/direct. (throu. 04/2023) | OfficerTrustee | 40 | $161,691 |
Dr Siva Kumari CEO (as Of 05/2023) | OfficerTrustee | 40 | $0 |
Joanna Burleson Chair | OfficerTrustee | 0.8 | $0 |
Daniel Lugo JD Treasurer | OfficerTrustee | 0.3 | $0 |
Andrea Mokros Director | Trustee | 0.3 | $0 |
Dr Donnell Butler Director | Trustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aspen Root Strategy Strategic Consulting | 6/29/23 | $165,047 |
Mirror Mirror Strategies Leadership Development | 6/29/23 | $155,500 |
Whiteboard Advisors Communications & Pr | 6/29/23 | $129,023 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $384,412 |
| Related organizations | $0 |
| Government grants | $5,756,042 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,821,961 |
| Noncash contributions included in lines 1a–1f | $194,259 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,962,415 |
| Total Program Service Revenue | $2,233,250 |
| Investment income | $255,696 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,220 |
| Net Income from Fundraising Events | -$66,775 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,598,991 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $692,144 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $921,048 |
| Compensation of current officers, directors, key employees. | $110,424 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,338,029 |
| Pension plan accruals and contributions | $476,467 |
| Other employee benefits | $1,281,726 |
| Payroll taxes | $1,008,397 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $65,333 |
| Fees for services: Accounting | $74,023 |
| Fees for services: Lobbying | $171,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,123 |
| Fees for services: Other | $1,870,275 |
| Advertising and promotion | $177,079 |
| Office expenses | $107,548 |
| Information technology | $1,442,209 |
| Royalties | $0 |
| Occupancy | $1,176,146 |
| Travel | $420,311 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $96,592 |
| Interest | $27,758 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $330,698 |
| Insurance | $112,325 |
| All other expenses | $1,918 |
| Total functional expenses | $28,232,798 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,101,191 |
| Savings and temporary cash investments | $499,559 |
| Pledges and grants receivable | $2,604,292 |
| Accounts receivable, net | $2,510,994 |
| 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 | $601,201 |
| Net Land, buildings, and equipment | $708,599 |
| Investments—publicly traded securities | $12,396,395 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,141,730 |
| Total assets | $23,563,961 |
| Accounts payable and accrued expenses | $1,725,101 |
| Grants payable | $0 |
| Deferred revenue | $1,524,161 |
| 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 | $1,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,269,711 |
| Total liabilities | $7,518,973 |
| Net assets without donor restrictions | $7,434,965 |
| Net assets with donor restrictions | $8,610,023 |
| 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 | $23,563,961 |