Pass With Flying Colors Inc
- Assets
- $0.0
- Revenue
- $78.0k
- Investments
- $0.0
- Employees
- 1
- Location
- Chicago, IL
- Founding
- 04/2010
- Data as of
- 06/2021
- EIN
- 27-1722417
Organization Overview
Pass With Flying Colors Inc is located in Chicago, IL. The organization was established in 2010. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pass With Flying Colors 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 06/2021, Pass With Flying Colors Inc generated $78.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (20.4%) each year. All expenses for the organization totaled $210.4k during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PASS WITH FLYING COLORS PREPARES CHICAGO'S UNDERSERVED FIRST-GENERATION STUDENTS FOR COLLEGE AND CAREER SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PASS WITH FLYING COLORS, INC. (ORGANIZATION) IS A NONPROFIT ORGANIZATION FOUNDED IN ILLINOIS IN 2010 TO PREPARE CHICAGO'S UNDER-SERVED HIGH SCHOOL STUDENTS TO BE SUCCESSFUL IN COLLEGE.PASS WITH FLYING COLORS SERVED 113 STUDENTS THROUGH AN 8-YEAR COLLEGE SUCCESS AND PERSISTENCE PROGRAM. 85% OF THE ORGANIZATION'S SCHOLARS IDENTIFY AS LOW-INCOME AND 100% WILL BE THE FIRST IN THEIR FAMILY TO ATTEND COLLEGE. BEGINNING IN 9TH GRADE, THE ORGANIZATION SELECTS A COHORT OF UP TO 25 COMMITTED STUDENTS THROUGH A SELECTIVE AND COMPETITIVE INTERVIEW PROCESS. BEGINNING IMMEDIATELY, THESE COHORTS OF SCHOLARS PARTICIPATE IN ACADEMIC ENRICHMENT, LEADERSHIP DEVELOPMENT AND COLLEGE READINESS PROGRAMS THAT DEVELOP THE SOCIAL, ACADEMIC AND NON-COGNITIVE SKILLS CRITICAL TO COLLEGE AND CAREER SUCCESS. THE ORGANIZATION'S SCHOLARS CONTINUE TO RECEIVE INDIVIDUALIZED SUPPORT AND MENTORING DURING THEIR COLLEGE YEARS SO THEIR COLLEGE DEGREE BECOMES A REALITY. 100% OF SCHOLARS WHO HAVE REACHED HIGH SCHOOL GRADUATION HAVE MATRICULATED INTO COLLEGE TO PURSUE A DEGREE AND 95% ARE ON TRACK TO GRADUATE. EARNING A 4-YEAR COLLEGE DEGREE WILL PROVIDE GREATER ACCESS TO OPPORTUNITIES FOR ECONOMIC STABILITY AND CHOICES IN THEIR ADULT LIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenny Goldman President | OfficerTrustee | 2 | $0 |
David Leeney Secretary / Director | OfficerTrustee | 1 | $0 |
Linda Turner Director | Trustee | 1 | $0 |
Michael Oettinger Treasurer / Director | OfficerTrustee | 4 | $0 |
George Alonistiotis Director | Trustee | 1 | $0 |
Tony Eheli 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 | $31,251 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,251 |
| Total Program Service Revenue | $0 |
| Investment income | $44 |
| 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 | $77,971 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,017 |
| Grants and other assistance to domestic individuals. | $25,453 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $69,369 |
| Compensation of current officers, directors, key employees. | $13,874 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,693 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,056 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,610 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $182 |
| 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 | $965 |
| Total functional expenses | $210,365 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Pass With Flying Colors Inc has awarded $16,017 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICA NEEDS YOU PURPOSE: DISOLUTION OF PASS WITH FLYING COLORS INC. | $4,000 |
CHICAGO SCHOLARS FOUNDATION PURPOSE: DISOLUTION OF PASS WITH FLYING COLORS INC. | $4,000 |
CHICAGO INT'L CHARTER SCHOOLS - NORTHTOWN HIGH SCHOOL PURPOSE: DISOLUTION OF PASS WITH FLYING COLORS INC. | $8,017 |