COLLEGE BOUND INC

EIN: 521761312 501(c)(3) Education

WASHINGTON, DC

Total Revenue
$962,515
Total Expenses
$1,117,913
Total Assets
$685,387
Net Assets
$611,947
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
DC
Principal Officer
KENNETH WARD
Phone
2028420858
Tax Period
2024-01-01 to 2024-12-31

COLLEGE BOUND INC, founded in 1991, is a small nonprofit in the Education sector that reported $963K in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 16% operating deficit.

Mission

TO PREPARE PUBLIC AND PUBLIC CHARTER SCHOOL STUDENTS IN THE METROPOLITAN WASHINGTON, D.C. AREA TO ENTER COLLEGE, EARN A DEGREE, AND ACHIEVE THEIR PERSONAL AND PROFESSIONAL GOALS.

Program Service Accomplishments

Program 1
Expenses: $946,275 Revenue: $52,256

COLLEGE BOUND ACCOMPLISHES ITS MISSION BY PROVIDING SUSTAINED TUTORING, MENTORING, AND COLLEGE PREPARATORY ENRICHMENT ACTIVITIES TO OVER 200 STUDENTS IN ITS WEEKLY ACADEMIC MENTORING PROGRAM AND AN...

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COLLEGE BOUND ACCOMPLISHES ITS MISSION BY PROVIDING SUSTAINED TUTORING, MENTORING, AND COLLEGE PREPARATORY ENRICHMENT ACTIVITIES TO OVER 200 STUDENTS IN ITS WEEKLY ACADEMIC MENTORING PROGRAM AND AN ADDITIONAL 250 STUDENTS THROUGH ITS OUTREACH ACTIVITIES. COLLEGE BOUND HAS A PROVEN TRACK RECORD OF SUCCESS FOR STUDENTS IN TERMS OF ACADEMIC PERFORMANCE AND ENTRANCE TO INSTITUTIONS OF HIGHER EDUCATION.COLLEGE BOUND'S MULTI-PRONGED APPROACH TO SUPPORTING STUDENTS HAS BEEN HELPING PUBLIC SCHOOL STUDENTS MAKE COLLEGE A REALITY SINCE 1991. ITS ACADEMIC MENTORING PROGRAM MATCHES OVER 200 STUDENTS IN 8TH- 12TH GRADE WITH COLLEGE-EDUCATED PROFESSIONALS WHO BECOME THEIR ACADEMIC MENTORS. PAIRS MEET ONCE A WEEK FOR TWO HOURS DURING THE SCHOOL YEAR AT ONE OF EIGHT COMMUNITY-BASED SITES. MENTOR-STUDENT PAIRS ALSO PARTICIPATE IN MONTHLY ACTIVITIES OUTSIDE OF THE SITE TO REINFORCE AND STRENGTHEN THE MENTORING RELATIONSHIP. THROUGH WRITING WORKSHOPS, WRITING COACHES HELP STUDENTS DEVELOP THE WRITING SKILLS NEEDED NOT ONLY FOR COLLEGE APPLICATIONS AND FINANCIAL SCHOLARSHIPS BUT TO COMMUNICATE MORE EFFECTIVELY. WEEKLY JOURNALING IS ALSO AN INTEGRAL PART OF THE AGENDA FOR STUDENTS AND MENTORS AT THE PROGRAM SITES. SAT PREPARATION IS OFFERED TWICE A YEAR AND PROVIDES PARTICIPANTS WITH ACCESS TO A LOW-COST 10-WEEK TEST PREPARATION COURSE TAUGHT BY INDUSTRY PROFESSIONALS. AFTER COMPLETING THE SAT CLASS, STUDENTS ARE ENROLLED IN ONE-ON-ONE SAT TUTORING IN THE NEXT SEMESTER, WHICH IS TAILORED TO ADDRESS THEIR INDIVIDUAL NEEDS, RESULTING IN AVERAGE INCREASES OF 200-400 POINTS ON THE SAT. TWO COLLEGE TOURS, A COLLEGE FAIR, AND A CAREER NIGHT/EXPLORATION EVENT ARE OFFERED TO EXPAND STUDENTS' AWARENESS OF THE VALUE OF A COLLEGE EDUCATION. THE FALL TOUR IS A ONE-DAY VISIT TO TWO TO THREE SCHOOLS WITHIN A SPECIFIED REGIONAL RADIUS, WHILE THE FOUR-DAY SPRING TOUR TAKES PLACE OVER SPRING BREAK, WITH VISITS TO EIGHT TO TEN COLLEGES AND UNIVERSITIES. THE COLLEGE FAIR, WHICH TAKES PLACE IN THE FALL, IS DEVELOPED BY STUDENTS, PARENTS, VOLUNTEERS, AND COMMUNITY LEADERS, AND HOSTED BY OUR PARTNERS WHO ATTEND, REPRESENTING THEIR ALMA MATERS. SEVERAL UNIVERSITY REPRESENTATIVES OFFER ON-SITE ADMISSIONS OR FEE WAIVERS TO SENIORS. CAREER NIGHT, OUR ANNUAL CAREER FAIR, IS HOSTED BY THE UNIVERSITY CLUB FOR 10TH- TO 12TH-GRADE STUDENTS, WHERE THEY PARTICIPATE IN ROUNDTABLE DISCUSSIONS ON CAREER GOALS AND OPPORTUNITIES AVAILABLE TO THEM AFTER COLLEGE GRADUATION. DUE TO OUR GROWTH, WE OFFER SEPARATE CAREER EXPLORATION PROGRAMS FOR 8TH AND 9TH GRADERS TO EXPOSE THEM TO A WIDE RANGE OF CAREER PATHS.BOTH EVENTS FEATURE KEYNOTE SPEAKERS WHO HAVE DISTINGUISHED THEMSELVES IN THEIR CHOSEN CAREER PATHS. TO ADDRESS STUDENTS' INTEREST AND THE NEED TO INCREASE THEIR AWARENESS OF STEM OPTIONS, COLLEGE BOUND OFFERS REMEDIATION AND ENRICHMENT TWICE WEEKLY THROUGH ITS "STEM IN YOUR HOOD" PROGRAM. ADDITIONALLY, STEM PROFESSIONALS MEET WITH STUDENTS MONTHLY DURING "MEDITECH TUESDAYS" TO PROVIDE INSIGHT ON CAREER OPPORTUNITIES IN STEM. WE OFFER SCHOLARSHIPS TO ASSIST OUR STUDENTS WITH FUNDING THEIR EDUCATION, TOTALING MORE THAN $260,000 FOR THE CLASS OF 2025. SCHOLARSHIPS RANGE FROM $500 TO $20,000. FINALLY, OUR VIRTUAL MENTORING PROGRAM (VMP) OFFERS ALUMNI ACCESS TO SERVICES THAT STUDENTS NEED TO SUCCEED AS THEY PROGRESS THROUGH COLLEGE. THE PROGRAM PROVIDES A "SAFETY NET" TO HELP THEM SUCCEED IN THIS NEW ENVIRONMENT. THE PROGRAM INCLUDES COLLEGE COACHING, COLLEGE TRANSITION SUPPORT, PEER MENTORING, SCHOLARSHIP INFORMATION, AND INTERNSHIPS. EACH FRESHMAN RECEIVES AT LEAST ONE CAMPUS VISIT, AND MORE IF NEEDED. THESE SUPPORTS HELP INCREASE COLLEGE RETENTION AND GRADUATION RATES FOR STUDENTS, ENSURING THEIR SUCCESS. STUDENTS ALSO RETURN TO THE HIGH SCHOOL PROGRAM WHEN THEY ARE BACK HOME TO SHARE THEIR COLLEGE EXPERIENCES WITH CURRENT PROGRAM PARTICIPANTS DURING "ALUMNI WEEK". WE ALSO OFFER WORKSHOPS AND NETWORKING EVENTS FOR VMP PARTICIPANTS DURING THE WINTER AND SUMMER BREAKS. OUR COLLEGE GRADUATION RATES (4-YEAR: 60%; 6-YEAR: 77%) EXCEED THE NATIONAL AVERAGE FOR ALL STUDENTS AND ARE MORE THAN DOUBLE THOSE FOR THE DEMOGRAPHIC WE SERVE.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $918,261
Program Service Revenue $52,256
Investment Income $847
Other Revenue $-8,849
TOTAL REVENUE $962,515

Expense Breakdown

Grants Paid $225,688
Salaries & Benefits $516,346
Fundraising Expenses $78,930
Program Expenses $946,275
Other Expenses $353,979
TOTAL EXPENSES $1,117,913

Year-over-Year Comparison

2024 2023 Change
Revenue $962,515 $1,258,197 -0.2%
Expenses $1,117,913 $1,196,855 -0.1%
Net Income $-155,398 $61,342 -3.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
14
Independent Members
14
Employees
8
Volunteers
575

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
6
$177,390
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TRENEISHA JONES-GASTON CHAIR (THRU JULY), BOARD MEMBER 8.00
Officer Director
$0 $0 $0
MICHAEL GRANT BOARD MEMBER, CHAIR (FROM JULY) 8.00
Officer Director
$0 $0 $0
HELYNN STEPHENS-NELSON BOARD VICE CHAIR 6.00
Officer Director
$0 $0 $0
QUIANA MITCHEM BOARD TREASURER 6.00
Officer Director
$0 $0 $0
SIOBHAN RAUSCH BOARD SECRETARY 6.00
Officer Director
$0 $0 $0
MONICA DAVIS BOARD MEMBER 4.00
Director
$0 $0 $0
DJANGO DEGREE BOARD MEMBER 4.00
Director
$0 $0 $0
JACQUI FRANCIS BOARD MEMBER 4.00
Director
$0 $0 $0
TRACEY HUGHES BOARD MEMBER 4.00
Director
$0 $0 $0
MALINDA LINDSEY BOARD MEMBER 4.00
Director
$0 $0 $0
GOUTAM PATNAIK BOARD MEMBER 4.00
Director
$0 $0 $0
ARCHIE RICH BOARD MEMBER 4.00
Director
$0 $0 $0
AMY TITUS BOARD MEMBER 4.00
Director
$0 $0 $0
DEBORAH WILLIAMS-LOFTON BOARD MEMBER 4.00
Director
$0 $0 $0
KENNETH WARD EXECUTIVE DIRECTOR 60.00
Officer
$153,508 $23,882 $177,390
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 $962,515 $1,117,913 $685,387 $-155,398
2023 $1,258,197 $1,196,855 $879,752 $61,342
2022 $1,206,541 $1,032,059 $731,420 $174,482
2021 $1,130,617 $1,004,198 $668,746 $126,419
2020 $1,021,202 $897,209 $515,487 $123,993
2019 $632,836 $858,858 $259,348 $-226,022
2018 $793,424 $824,021 $590,850 $-30,597
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