One Million Degrees
- Assets
- $6.8m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 44
- Location
- Chicago, IL
- Founding
- 09/2006
- Data as of
- 06/2021
- EIN
- 42-1710230
Organization Overview
One Million Degrees is located in Chicago, IL. The organization was established in 2006. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2021, One Million Degrees employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. One Million Degrees 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 06/2021, One Million Degrees generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $3.8m during the year ending 06/2021. While expenses have increased by 10.7% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ACCELERATE COMMUNITY COLLEGE STUDENTS' PROGRESS ON CAREER PATHWAYS TO ECONOMIC MOBILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TUITION AND STIPENDS - OMD PROVIDED LAST-DOLLAR SCHOLARSHIPS (FUNDING TO COVER ANY GAPS BETWEEN A SCHOLAR'S FINANCIAL AID AWARD AND TUITION COSTS) AND EDUCATIONAL STIPENDS. THESE STIPENDS DEFRAY SCHOLARS' EDUCATIONAL EXPENSES SUCH AS BOOKS, TECHNOLOGY, TRANSPORTATION, AND CHILDCARE. OMD ALSO OFFERS ENRICHMENT GRANTS TO SCHOLARS WHO APPLY. THESE GRANTS CAN BE UP TO $250 AND ARE MEANT TO DEFRAY ONE-TIME COSTS THAT WILL HELP SCHOLARS ADVANCE IN THEIR CHOSEN CAREER, SUCH AS ORGANIZATION DUES, CONFERENCE FEES OR ACCREDITATION TEST COSTS.
STUDENT DEVELOPMENT - IN ADDITION TO THESE FINANCIAL SUPPORTS, OMD SCHOLAR DEVELOPMENT MODEL INCLUDES A ROBUST SET OF ACADEMIC, PERSONAL, AND PROFESSIONAL SUPPORTS. IN THE SCHOOL YEAR, OMD PROVIDED WEEKLY INDIVIDUALIZED TUTORING TO SCHOLARS AT ALL COLLEGE COURSE LEVELS. OMD HOSTS MONTHLY PERSONAL AND PROFESSIONAL DEVELOPMENT WORKSHOPS IN WHICH SCHOLARS LEARN BUSINESS COMMUNICATION SKILLS, PERSONAL FINANCIAL LITERACY AND PLANNING, CIVIC ENGAGEMENT AND LEADERSHIP DEVELOPMENT. THEY ARE ALSO MATCHED WITH ONE OF OMD'S VOLUNTEER COACHES WHO WORK WITH THEM ON PROFESSIONAL GOAL SETTING, RESUME DEVELOPMENT, INTERVIEW SKILLS, AND POST-GRADUATE CAREER PLANNING. SCHOLARS ALSO HAD THE OPPORTUNITY TO PARTICIPATE IN EXPERIENTIAL EVENTS TO APPLY THE SKILLS THEY ARE LEARNING. OK THESE EVENTS INCLUDE OMD'S CAREER AND RESOURCE FAIR, WHERE SCHOLARS HAVE THE OPPORTUNITY TO LEARN ABOUT JOB OPPORTUNITIES AND RESOURCES AVAILABLE IN THEIR COMMUNITY AND COLLEGES; AND SPEED NETWORKING - A NETWORKING EVENT WHERE SCHOLARS PRACTICE THEIR ELEVATOR PITCHES WITH VOLUNTEERS.
INDIVIDUALIZED SUPPORT - OMD PROGRAM STAFF REGULARLY COMMUNICATE WITH CASELOADS OF SCHOLARS, BECOMING TRUSTED ADVISORS AND ADVOCATES. STAFF MEMBERS ENCOURAGE SCHOLARS TO HOLD THEMSELVES ACCOUNTABLE AS THEY PROGRESS TOWARD THEIR GOALS BY USING MOTIVATIONAL INTERVIEWING AND REGULAR PERFORMANCE EVALUATIONS THAT GIVE SCHOLARS THE OPPORTUNITY TO REFLECT ON THEIR PROGRESS AND THEIR CHALLENGES. PROGRAM STAFF ALSO MANAGE NEW STUDENT RECRUITMENT AND ONBOARDING, DATA COLLECTION AND ANALYSIS, PROGRAM VOLUNTEERS, AND THE CONTINUOUS IMPROVEMENT OF OMD PROGRAMMING AND CURRICULUM.
TUITION AND STIPENDS - OMD PROVIDED LAST-DOLLAR SCHOLARSHIPS (FUNDING TO COVER ANY GAPS BETWEEN A SCHOLAR'S FINANCIAL AID AWARD AND TUITION COSTS) AND EDUCATIONAL STIPENDS. THESE STIPENDS DEFRAY SCHOLARS' EDUCATIONAL EXPENSES SUCH AS BOOKS, TECHNOLOGY, TRANSPORTATION, AND CHILDCARE. OMD ALSO OFFERS ENRICHMENT GRANTS TO SCHOLARS WHO APPLY. THESE GRANTS CAN BE UP TO $250 AND ARE MEANT TO DEFRAY ONE-TIME COSTS THAT WILL HELP SCHOLARS ADVANCE IN THEIR CHOSEN CAREER, SUCH AS ORGANIZATION DUES, CONFERENCE FEES OR ACCREDITATION TEST COSTS.
STUDENT DEVELOPMENT - IN ADDITION TO THESE FINANCIAL SUPPORTS, OMD SCHOLAR DEVELOPMENT MODEL INCLUDES A ROBUST SET OF ACADEMIC, PERSONAL, AND PROFESSIONAL SUPPORTS. IN THE SCHOOL YEAR, OMD PROVIDED WEEKLY INDIVIDUALIZED TUTORING TO SCHOLARS AT ALL COLLEGE COURSE LEVELS. OMD HOSTS MONTHLY PERSONAL AND PROFESSIONAL DEVELOPMENT WORKSHOPS IN WHICH SCHOLARS LEARN BUSINESS COMMUNICATION SKILLS, PERSONAL FINANCIAL LITERACY AND PLANNING, CIVIC ENGAGEMENT AND LEADERSHIP DEVELOPMENT. THEY ARE ALSO MATCHED WITH ONE OF OMD'S VOLUNTEER COACHES WHO WORK WITH THEM ON PROFESSIONAL GOAL SETTING, RESUME DEVELOPMENT, INTERVIEW SKILLS, AND POST-GRADUATE CAREER PLANNING. SCHOLARS ALSO HAD THE OPPORTUNITY TO PARTICIPATE IN EXPERIENTIAL EVENTS TO APPLY THE SKILLS THEY ARE LEARNING. OK THESE EVENTS INCLUDE OMD'S CAREER AND RESOURCE FAIR, WHERE SCHOLARS HAVE THE OPPORTUNITY TO LEARN ABOUT JOB OPPORTUNITIES AND RESOURCES AVAILABLE IN THEIR COMMUNITY AND COLLEGES; AND SPEED NETWORKING - A NETWORKING EVENT WHERE SCHOLARS PRACTICE THEIR ELEVATOR PITCHES WITH VOLUNTEERS.
INDIVIDUALIZED SUPPORT - OMD PROGRAM STAFF REGULARLY COMMUNICATE WITH CASELOADS OF SCHOLARS, BECOMING TRUSTED ADVISORS AND ADVOCATES. STAFF MEMBERS ENCOURAGE SCHOLARS TO HOLD THEMSELVES ACCOUNTABLE AS THEY PROGRESS TOWARD THEIR GOALS BY USING MOTIVATIONAL INTERVIEWING AND REGULAR PERFORMANCE EVALUATIONS THAT GIVE SCHOLARS THE OPPORTUNITY TO REFLECT ON THEIR PROGRESS AND THEIR CHALLENGES. PROGRAM STAFF ALSO MANAGE NEW STUDENT RECRUITMENT AND ONBOARDING, DATA COLLECTION AND ANALYSIS, PROGRAM VOLUNTEERS, AND THE CONTINUOUS IMPROVEMENT OF OMD PROGRAMMING AND CURRICULUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paige Ponder Chief Executive Officer | Officer | 50 | $146,270 |
Thomas Hobart Chief Development Officer | 50 | $105,395 | |
Meridel Trimble Chief Operating Officer | 50 | $104,770 | |
David Scherer Chairman Of The Board | OfficerTrustee | 3 | $0 |
Laurie O'shea Secretary | OfficerTrustee | 3 | $0 |
Judy Marwick Co-Vice Chair Of The Board | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $694,000 |
| Related organizations | $0 |
| Government grants | $1,124,826 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,988,580 |
| Noncash contributions included in lines 1a–1f | $28,513 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,807,406 |
| Total Program Service Revenue | $30,000 |
| Investment income | $19,103 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,004 |
| Net Income from Fundraising Events | -$5,697 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,851,472 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $594,170 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $192,409 |
| Compensation of current officers, directors, key employees. | $76,964 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,941,111 |
| Pension plan accruals and contributions | $26,923 |
| Other employee benefits | $189,456 |
| Payroll taxes | $158,906 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $45,714 |
| Fees for services: Accounting | $26,793 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $358,466 |
| Advertising and promotion | $48,562 |
| Office expenses | $60,356 |
| Information technology | $70,643 |
| Royalties | $0 |
| Occupancy | $861 |
| Travel | $2,521 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $21,293 |
| All other expenses | $38,475 |
| Total functional expenses | $3,776,659 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,612,899 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,745,252 |
| Accounts receivable, net | $182,096 |
| 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 | $80,336 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,142,116 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,762,699 |
| Accounts payable and accrued expenses | $102,090 |
| Grants payable | $0 |
| Deferred revenue | $132,242 |
| 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 | $458,582 |
| Other liabilities | $0 |
| Total liabilities | $692,914 |
| Net assets without donor restrictions | $4,312,426 |
| Net assets with donor restrictions | $1,757,359 |
| 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 | $6,762,699 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that One Million Degrees has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Simons Family Foundation Glenview, IL PURPOSE: EDUCATION | $6,000 |
Endowment Analysis
| Beg. Balance | $505,123 |
| Earnings | $172 |
| Ending Balance | $505,295 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Future Leaders Of Americafoundation Inc Chicago, IL | $0 | $13,517,008 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Ray And Kay Eckstein Charitable Trust Paducah, KY | $358,796,277 | $128,951,866 |
Professional Convention Management Association Chicago, IL | $13,503,434 | $11,522,188 |
Sigma Chi Foundation Evanston, IL | $40,441,719 | $12,690,646 |
AbbVie Employee Assistance Fund Inc North Chicago, IL | $0 | $8,759,468 |
Scholarship Foundation Of St Louis St Louis, MO | $49,025,721 | $11,563,775 |
Alfred I Dupont Awards Foundation Chicago, IL | $0 | $4,985,997 |
Accenture Foundation Inc Chicago, IL | $134,926,823 | $15,596,009 |
Rooted Alliance Inc Chicago, IL | $2,335,555 | $4,487,602 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |