Valedictorian Project Inc
- Assets
- $325.3k
- Revenue
- $490.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Watertown, MA
- Founding
- Data as of
- 06/2022
- EIN
- 85-2099157
Organization Overview
Valedictorian Project Inc is located in Watertown, MA. 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 06/2022, Valedictorian Project Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valedictorian Project 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 06/2022, Valedictorian Project Inc generated $490.2k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 58.4% each year . All expenses for the organization totaled $301.0k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MENTORSHIP AND ASSISTANCE TO HIGH SCHOOL VALEDICTORIANS AND OTHER HIGH SCHOOL STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TVP LAUNCHED IN THE SPRING OF 2020 WITH 24 VALEDICTORIANS GRADUATING FROM BOSTON PUBLIC SCHOOLS. EACH VALEDICTORIAN WAS PAIRED WITH TWO MENTORS, A PEER AND SENIOR MENTOR, WHO SUPPORTED THEM ON THEIR POST-SECONDARY JOURNEY. THROUGHOUT THE YEAR, TVP OFFERED TRAINING OPPORTUNITIES TO MENTORS AND MENTEES ON TOPICS SUCH AS: BUILDING A STRONG MENTOR-MENTEE RELATIONSHIP, NAVIGATING THE TRANSITION FROM HIGH SCHOOL TO COLLEGE, EXPLORING CAREER OPPORTUNITIES AND PREPARING FOR INTERVIEWS. TVP FREQUENTLY EVALUATED PROGRAM OFFERINGS AND IMPLEMENTED FEEDBACK IN ORDER TO ENSURE MENTEES WERE BEST SUPPORTED. IN ADDITION TO PROGRAM DEVELOPMENT, TVP ESTABLISHED ORGANIZATIONAL INFRASTRUCTURE IN ITS HIRING, ONBOARDING, PAYROLL, ACCOUNTING, FINANCE, AND BUDGET PROCESSES. ADDITIONALLY, THROUGHOUT ITS LAUNCH YEAR, TVP OPERATED SIGNIFICANTLY OFF OF THE VOLUNTEER HOURS OF THE FOUNDER AND CO-FOUNDERS. TVP RECEIVED ITS OFFICIAL 501(C)(3) STATUS IN APRIL OF 2021, WHICH ALLOWED THE ORGANIZATION TO BEGIN APPLYING FOR GRANTS AND EXPANDING ITS DONOR BASE. THE GROUNDWORK LAID IN THE LAUNCH YEAR HAS ALLOWED THE PROGRAM AND ORGANIZATION TO GROW AND EXPAND IN ITS SECOND YEAR AND IN YEAR THREE, TVP EXPANDED ITS PROGRAM TO PARTNER THE SCHOOL DISTRICTS OF BOSTON, LAWRENCE, BROCKTON AND WORCESTER.
DURING THE YEAR TVP WAS ABLE TO RECRUIT AND TRAIN 180 MENTORS TO PARTICIPATE IN THE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Mcdermott Executive Director | Officer | 40 | $125,000 |
Warren Tolman Board Chair/clerk | OfficerTrustee | 5 | $0 |
Grace Regan Treasurer | OfficerTrustee | 5 | $0 |
Jon Santiago Secretary | OfficerTrustee | 2.5 | $0 |
David Mannheim Director | Trustee | 1 | $0 |
Tanya Benzan Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $490,230 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $490,230 |
| 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 | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $490,230 |
| 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. | $125,000 |
| Compensation of current officers, directors, key employees. | $46,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,200 |
| Pension plan accruals and contributions | $2,306 |
| Other employee benefits | $0 |
| Payroll taxes | $13,794 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $62,850 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $5,002 |
| Total functional expenses | $300,953 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300,286 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $25,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $325,286 |
| Accounts payable and accrued expenses | $10,003 |
| 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 | $10,003 |
| Net assets without donor restrictions | $211,521 |
| Net assets with donor restrictions | $103,762 |
| 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 | $325,286 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Valedictorian Project Inc has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
Demarco Charitable Foundation Braintree, MA PURPOSE: MENTORSHIP AND EDUCATION SUPPORT | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South Middlesex Opportunity Council Inc Framingham, MA | $58,219,671 | $100,623,342 |
Bronxworks Inc Bronx, NY | $54,602,777 | $94,783,683 |
Sheltering Arms Children And Family Services Inc New York, NY | $61,235,788 | $88,686,017 |
North Shore Community Services Inc Westbury, NY | $256,637,537 | $86,285,675 |
Catholic Charities Of The Diocese Of Rochester Rochester, NY | $80,143,075 | $94,807,036 |
Community Assistance Resources & Extended Services Inc New York, NY | $66,076,171 | $123,796,849 |
New Hampshire Catholic Charities Inc Manchester, NH | $140,545,315 | $96,098,300 |
Jewish Child Care Association Of New York Brooklyn, NY | $129,020,546 | $88,573,003 |
Urban Resource Institute New York, NY | $63,202,447 | $74,244,658 |
Mount Sinai Health System Executive V P For Finance New York, NY | $0 | $70,946,441 |
Birch Family Services Inc New York, NY | $68,113,610 | $78,917,553 |
Catholic Charities Of The Roman Catholic Diocese Of Syracuse Ny Syracuse, NY | $64,792,131 | $74,096,320 |