Fair Chance
- Assets
- $1.8m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 19
- Location
- Washington, DC
- Founding
- 07/2003
- Data as of
- 12/2023
- EIN
- 74-3091832
Organization Overview
Fair Chance is located in Washington, DC. The organization was established in 2003. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2023, Fair Chance employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fair Chance 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 12/2023, Fair Chance generated $2.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $2.5m during the year ending 12/2023. While expenses have increased by 6.7% per year over the past 9 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
STRENGTHEN SUSTAINABILITY OF COMMUNITY BASED NON-PROFITS TO BENEFIT THOSE EXPERIENCING POVERTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
READY FOR WORK NONPROFIT CAPACITY BUILDING INITIATIVE - READY FOR WORK INITIATIVE IS AN INVITATION-ONLY PROGRAM FOR NONPROFITS IN PRINCE GEORGE'S COUNTY, MD. IT IS A 3-YEAR PARTNERSHIP WITH SELECTED NONPROFITS TO HELP IMPROVE ORGANIZATIONAL OUTCOMES AND STRENGTHEN THEIR CAPACITY TO SUPPORT YOUNG PEOPLE IN ACHIEVING THEIR GOALS. INITIATIVE OF THE PG COUNTY AND CO-MANAGED BY YOUTH INVEST PARTNERS.
PATHWAYS PARTNERSHIP - PATHWAYS IS AN 8-MONTH PARTNERSHIP FOR SMALL NONPROFITS (TYPICALLY WITH BUDGETS BETWEEN $50K-$250K) THAT DEEPENS NONPROFIT LEADERS' KNOWLEDGE AND SKILLS ACROSS FOUR KEY AREAS OF AN ORGANIZATION (BOARD DEVELOPMENT, FUNDRAISING, LEADERSHIP & MANAGEMENT, AND PROGRAM EVALUATION) AND PROVIDES TOOLS AND SUPPORT TO ADVANCE THE ORGANIZATION'S MISSION, STABILITY, AND GROWTH.
PRAXIS PARTNERSHIP- PRAXIS FOCUSES ON STRENGTHENING LEADERSHIP AND ORGANIZATIONAL SYSTEMS ACROSS FOUR OR MORE OF THE FOLLOWING AREAS: BOARD DEVELOPMENT, FINANCIAL MANAGEMENT, FUNDRAISING, HUMAN RESOURCES, LEADERSHIP & MANAGEMENT, OUTREACH & COMMUNICATIONS, PLANNING & STRATEGY, AND PROGRAM EVALUATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Mccullough Vc Until 04/2023); Chair (as Of 04/2023) | OfficerTrustee | 2 | $0 |
Theodore Kubit Chair (until 04/2023) | OfficerTrustee | 2 | $0 |
Mizmun Kusairi Vice Chair | OfficerTrustee | 2 | $0 |
Sarah Jackson Secretary | OfficerTrustee | 2 | $0 |
Glenn Barnes Treasurer | OfficerTrustee | 2 | $0 |
Nekeisia Booyer Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $451,516 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,299,663 |
| Noncash contributions included in lines 1a–1f | $1,625 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,751,179 |
| Total Program Service Revenue | $470,258 |
| Investment income | $13,308 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$85,081 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,149,664 |
| 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. | $309,311 |
| Compensation of current officers, directors, key employees. | $41,878 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,233,765 |
| Pension plan accruals and contributions | $25,846 |
| Other employee benefits | $144,276 |
| Payroll taxes | $119,095 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $63,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $36,900 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $310,321 |
| Advertising and promotion | $106 |
| Office expenses | $48,697 |
| Information technology | $73,977 |
| Royalties | $0 |
| Occupancy | $48,998 |
| Travel | $4,097 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,463 |
| Interest | $1,082 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,716 |
| All other expenses | $0 |
| Total functional expenses | $2,470,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $418,088 |
| Savings and temporary cash investments | $317,507 |
| Pledges and grants receivable | $1,038,011 |
| 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 | $36,049 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,220 |
| Total assets | $1,812,875 |
| Accounts payable and accrued expenses | $61,391 |
| Grants payable | $0 |
| Deferred revenue | $298,353 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $75,000 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $112,641 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $547,385 |
| Net assets without donor restrictions | $401,049 |
| Net assets with donor restrictions | $864,441 |
| 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 | $1,812,875 |