EVOLVE502 INC

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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

2019

Legal Domicile

Principal Officer

MARLAND COLE

Phone

5024094011

Tax Period

2024-01-01 to 2024-12-31

EVOLVE502 INC, founded in 2019, is a community nonprofit that reported $6.7M in total revenue in fiscal year 2024. Revenue decreased 19% compared to the prior year. Expenses of $6.0M left a modest 11% surplus.

Mission

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.

Program Service Accomplishments

Program 1

Expenses: $2,739,050

EVOLVE502 WILL CREATE BROAD-SCALE IMPACT BY LEVERAGING THE WORK OF LOUISVILLE'S EXISTING GOVERNMENT, EDUCATION AND SOCIAL SERVICE PARTNERS TO PROVIDE ACCESS TO TOOLS AND RESOURCES FOR STUDENTS AND...

EVOLVE502 WILL CREATE BROAD-SCALE IMPACT BY LEVERAGING THE WORK OF LOUISVILLE'S EXISTING GOVERNMENT, EDUCATION AND SOCIAL SERVICE PARTNERS TO PROVIDE ACCESS TO TOOLS AND RESOURCES FOR STUDENTS AND FAMILIES TO ENSURE ACADEMIC SUCCESS.

Program 2

Expenses: $2,166,538

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.). ADDITIONAL RESOURCES ADDED IN 2024 INCLUDE ACCESS TO EMERGENCY FUNDS AND SUCCESS COACHES TO HELP SCHOLARS RETAIN AND SUCCEED.

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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 $6,381,952

Program Service Revenue $0

Investment Income $309,156

Other Revenue $0

TOTAL REVENUE $6,691,108

Expense Breakdown

Grants Paid $1,552,674

Salaries & Benefits $1,062,370

Fundraising Expenses $182,323

Program Expenses $4,905,588

Other Expenses $3,352,483

TOTAL EXPENSES $5,967,527

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,691,108	$8,256,362	-0.2%
Expenses	$5,967,527	$5,118,616	+0.2%
Net Income	$723,581	$3,137,746	-0.8%

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

Volunteers

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

$176,004

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AUDWIN HELTON	CHAIRMAN	10.00	Officer Director	$0	$0	$0
MARY NIXON	VICE CHAIR	10.00	Officer Director	$0	$0	$0
AMY LINGO	SECRETARY	5.00	Officer Director	$0	$0	$0
PEDRO BRYANT	TREASURER	10.00	Officer Director	$0	$0	$0
JAMES ALLEN	DIRECTOR	1.00	Director	$0	$0	$0
KARINA BARILLAS	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT GUNN	DIRECTOR (BEGAN 3/2024)	1.00	Director	$0	$0	$0
ASHLEY HADLEY	DIRECTOR	1.00	Director	$0	$0	$0
DR TY HANDY	DIRECTOR	1.00	Director	$0	$0	$0
ALICE HOUSTON	DIRECTOR	1.00	Director	$0	$0	$0
MARK LAGESTEE	DIRECTOR	1.00	Director	$0	$0	$0
WALTER MALONE JR	DIRECTOR (BEGAN 3/2024)	1.00	Director	$0	$0	$0
LILLY MASSA-MCKINLEY	DIRECTOR (BEGAN 3/2024)	1.00	Director	$0	$0	$0
DR MARTY POLLIO	DIRECTOR	1.00	Director	$0	$0	$0
DIANE PORTER	DIRECTOR	1.00	Director	$0	$0	$0
LYNDON PRYOR	DIRECTOR (BEGAN 3/2024)	1.00	Director	$0	$0	$0
JOE REEVES	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTINE TARQUINIO	DIRECTOR (BEGAN 3/2024)	1.00	Director	$0	$0	$0
MARY GWEN WHEELER	DIRECTOR	1.00	Director	$0	$0	$0
MAYOR CRAIG GREENBERG	DIRECTOR	1.00	Director	$0	$0	$0
LARRY BENZ	DIRECTOR (THRU 3/2024)	1.00	Director	$0	$0	$0
RAYMOND BURSE	DIRECTOR (THRU 3/2024)	1.00	Director	$0	$0	$0
KEVIN COSBY	DIRECTOR (THRU 3/2024)	1.00	Director	$0	$0	$0
SARA DAVASHER-WISDOM	DIRECTOR (THRU 3/2024)	1.00	Director	$0	$0	$0
RYAN DAVIS	DIRECTOR (THRU 3/2024)	1.00	Director	$0	$0	$0
EMILIE DYER	DIRECTOR (THRU 3/2024)	1.00	Director	$0	$0	$0
AMANDA GEHRING	DIRECTOR (THRU 3/2024)	1.00	Director	$0	$0	$0
ADRIA JOHNSON	DIRECTOR (THRU 3/2024)	1.00	Director	$0	$0	$0
TESS MCNAIR	DIRECTOR (THRU 3/2024)	1.00	Director	$0	$0	$0
MASON RUMMEL	DIRECTOR (THRU 3/2024)	1.00	Director	$0	$0	$0
STEVE TARVER	DIRECTOR (THRU 3/2024)	1.00	Director	$0	$0	$0
AARON THOMPSON	DIRECTOR (THRU 3/2024)	1.00	Director	$0	$0	$0
MARLAND COLE	EXECUTIVE DIRECTOR	40.00	Officer	$170,852	$5,152	$176,004
CHARLES DAVIS	DIRECTOR OF PROGRAMMING	40.00	Highest	$127,600	$3,828	$131,428
JOHN GUTHRIE	DIRECTOR OF FUNDRAISING	40.00	Highest	$106,330	$3,190	$109,520

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	$6,691,108	$5,967,527	$22,677,491	$723,581
2023	$8,256,362	$5,118,616	$20,199,458	$3,137,746
2022	$4,389,973	$4,760,951	$15,607,027	$-370,978
2021	$11,532,874	$3,383,622	$17,122,332	$8,149,252
2020	$2,124,644	$1,588,849	$7,960,454	$535,795