PROGRESSIVE STATE LEADERS COMMITTE… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Principal Officer

SEAN RANKIN

Phone

2024703162

Tax Period

2024-01-01 to 2024-12-31

PROGRESSIVE STATE LEADERS COMMITTEE INC, founded in 2005, is a community nonprofit that reported $5.2M in total revenue in fiscal year 2024. Revenue surged 356% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.2M, a strong 22% operating margin.

Mission

THE CORPORATION IS ORGANIZED TO DEVELOP, ADVOCATE FOR, OR ASSIST WITH THE IMPLEMENTATION OF INNOVATIVE AND PROGRESSIVE PUBLIC POLICIES IN AREAS RELATED TO THE INFLUENCE, WORK, OR VARIED POWERS OF STATE ATTORNEYS GENERAL.

Program Service Accomplishments

Program 1

Expenses: $2,362,741

OTHER POLICY INITIATIVES: PROGRESSIVE STATE LEADERS COMMITTEE CONDUCTED 4 POLICY CONFERENCES THAT CONVENED STATE ATTORNEY GENERAL AND PARTNERS AND COVERED TOPICS INCLUDING HEALTHCARE ACCESSIBILITY...

OTHER POLICY INITIATIVES: PROGRESSIVE STATE LEADERS COMMITTEE CONDUCTED 4 POLICY CONFERENCES THAT CONVENED STATE ATTORNEY GENERAL AND PARTNERS AND COVERED TOPICS INCLUDING HEALTHCARE ACCESSIBILITY, HOUSING CRISIS, ARTIFICIAL INTELLIGENCE, AND PUBLIC SAFETY.

Program 2

Expenses: $957,779

PSLC CONDUCTED AN EDUCATION PROGRAM IN NORTH CAROLINA CENTERED AROUND THE ROLE OF THE STATE ATTORNEY GENERAL.

Program 3

Expenses: $152,796

FELLOWSHIP PROGRAMS: PSLC RAN A FELLOWSHIP PROGRAM CENTERED AROUND DEMOCRACY AND ELECTION PROTECTION; FELLOWS PROVIDED RESEARCH AND SUPPORT TO PSLC AND STATE ATTORNEYS GENERAL OFFICES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,242,536

Program Service Revenue $0

Investment Income $0

Other Revenue $1,045

TOTAL REVENUE $5,243,581

Expense Breakdown

Grants Paid $1,001,750

Salaries & Benefits $966,531

Fundraising Expenses $225,750

Program Expenses $3,499,072

Other Expenses $2,121,767

TOTAL EXPENSES $4,090,048

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,243,581	$1,150,187	+3.6%
Expenses	$4,090,048	$1,708,492	+1.4%
Net Income	$1,153,533	$-558,305	-3.1%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✓ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SEAN RANKIN	PRESIDENT (SEE SCHEDULE O)	5.00	Officer Director	$0	$0	$0
RACHEL SUSSMAN	DIRECTOR	1.00	Director	$0	$0	$0
A'SHANTI GHOLAR	DIRECTOR	1.00	Director	$0	$0	$0
HUBERT PITROIPA	TREASURER	1.00	Officer	$0	$0	$0
JONATHAN SCLARSIC	COO / GENERAL COUNSEL (SEE SCH. O)	8.00	Officer	$0	$0	$0
MICHELLE ORTIZ	EXECUTIVE DIRECTOR (SEE SCHEDULE O)	2.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$5,243,581	$4,090,048	$1,549,020	$1,153,533
2023	$1,150,187	$1,708,492	$283,408	$-558,305
2022	$4,844,161	$4,994,211	$858,290	$-150,050
2021	$994,597	$9,554,626	$672,056	$-8,560,029
2020	$21,316,435	$12,205,837	$13,081,517	$9,110,598
2019	$797,512	$775,261	$126,648	$22,251
2018	$1,068,016	$1,454,074	$29,380	$-386,058

PROGRESSIVE STATE LEADERS COMMITTEE INC