Evolve502 Inc

Organization Overview

Evolve502 Inc is located in Louisville, KY. The organization was established in 2019. As of 12/2021, Evolve502 Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Evolve502 Inc 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 12/2021, Evolve502 Inc generated $11.5m in total revenue. All expenses for the organization totaled $3.4m during the year ending 12/2021. While expenses have increased by 153.7% per year over the past 3 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.

Since 2020, Evolve502 Inc has awarded 49 individual grants totaling $694,200. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

WE WILL PROVIDE THE CARING, BELIEF, ACCESS, AND SUPPORTS EACH STUDENT NEEDS TO ACHIEVE AND SUCCEED AND WILL WORK TO REMOVE AND MITIGATE THE SYSTEMIC BARRIERS OF POVERTY AND INSTITUTIONAL RACISM.

Describe the Organization's Program Activity:

Part 3 - Line 4a

EVOLVE502 WILL CREATE BROAD-SCALE IMPACT BY LEVERAGING THE WORK OF LOUISVILLE'S EXISTING GOVERNMENT, EDUCATION AND SOCIAL SERVICE PARTNERS TO PROVIDE CHILDREN WITH VITAL SERVICES.


EVOLVE502 IS RAISING THE FUNDS TO PROVIDE ALL ELIGIBLE JCPS STUDENTS A TWO-YEAR, TUITION FREE OPPORTUNITY TO ATTEND ANY KCTCS COLLEGE, LIKE JEFFERSON OR SIMMONS COLLEGE OF KENTUCKY, STARTING WITH THE CLASS OF 2021 - 2034. THE LOWEST INCOME STUDENTS WILL RECEIVE OPPORTUNITY GRANTS TO COVER THE OTHER COSTS OF ATTENDING COLLEGE (FOOD, HOUSING, COMPUTERS, BOOKS, ETC.)


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Board, Officers & Key Employees

Name (title)Compensation
Marland Cole
Executive Director
$152,104
David Calzi
Treasurer
$0
Alice Houston
Secretary
$0
Audwin Helton
Vice Chair
$0
Mary Nixon
Chairman
$0
Karina Barillas
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Ymca
Tutoring And Programming
$151,000
Kentuckiana Works
Tutoring And Programming
$174,000
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$161,168
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $527,866
All other contributions, gifts, grants, and similar amounts not included above$10,818,821
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$11,507,855
Total Program Service Revenue$0
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $25,019
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $11,532,874

Grants Awarded

Over the last fiscal year, Evolve502 Inc has awarded $694,200 in support to 49 organizations.

Grant RecipientAmount

YMCA OF GREATER LOUISVILLE

Org PageRecipient Profile

Louisville, KY

PURPOSE: CARES FUNDING/COMMUNITY LEARNING HUB

$112,350

THE BOYS & GIRLS CLUBS INC

Org PageRecipient Profile

Louisville, KY

PURPOSE: COMMUNITY LEARNING HUB/SUMMER LEAGUE

$42,300

I WOULD RATHER BE READING

PURPOSE: COMMUNITY LEARNING HUB

$20,200

NEIGHBORHOOD HOUSE

Org PageRecipient Profile

Louisville, KY

PURPOSE: COMMUNITY LEARNING HUB/SUMMER LEAGUE

$15,100

SEVEN COUNTIES SERVICES INC

Org PageRecipient Profile

Louisville, KY

PURPOSE: COMMUNITY LEARNING HUB/SUMMER LEAGUE

$15,100

AMERICANA COMMUNITY CENTER INC

Org PageRecipient Profile

Louisville, KY

PURPOSE: CARES FUNDING/SUMMER LEAGUE

$14,100
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 13 grants that Evolve502 Inc has recieved totaling $5,409,728.

Awarding OrganizationAmount
C E And S Foundation Inc

Louisville, KY

PURPOSE: EVOLVE502 SCHOLARSHIP

$3,000,000
C E And S Foundation Inc

Louisville, KY

PURPOSE: GENERAL OPERATING SUPPORT, EVOLVE502 SCHOLARSHIP

$1,020,000
James Graham Brown Foundation Inc

Louisville, KY

PURPOSE: EVOLVE502 SCHOLARS OPPORTUNITY GRANTS FOR CLASSES OF 2021 AND 2022

$790,504
Beauregard Foundation Inc

Palm Beach, FL

PURPOSE: GENERAL FUND

$100,000
Owsley Brown Ii Family Foundation Inc

Louisville, KY

PURPOSE: JCPS FREE COLLEGE PROGRAM

$100,000
The Gingko Fund

Louisville, KY

PURPOSE: TO BE USED WITHIN EXEMPT FUNCTION

$100,000
View Grant Recipient Profile

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