One Million Degrees is located in Chicago, IL. The organization was established in 2006. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2022, One Million Degrees employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. One Million Degrees 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, One Million Degrees generated $5.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $4.7m during the year ending 06/2022. While expenses have increased by 10.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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 ACCELERATE COMMUNITY COLLEGE STUDENTS' PROGRESS ON CAREER PATHWAYS TO ECONOMIC MOBILITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
TUITION AND STIPENDS - OMD PROVIDES LAST-DOLLAR SCHOLARSHIPS TO COVER THE GAP BETWEEN SCHOLAR'S FINANCIAL AID AWARDS AND THE ACTUAL COST OF TUITION. PARTICIPATION BASED STIPENDS ASSIST IN DEFRAYING EDUCATIONAL EXPENSES INCLUDING BOOKS, TECHNOLOGY, TRANSPORTATION, AND CHILDCARE FOR SCHOLARS MEETING PROGRAM OBJECTIVES. ENRICHMENT GRANTS ARE AVAILABLE BY APPLICATION TO SUPPORT SCHOLARS OFFSET ONE-TIME COSTS INCLUDING ACCREDITATION TESTS, ADDITIONAL TRAINING, ORGANIZATIONAL DUES, AND CONFERENCE FEES. EMERGENCY GRANTS ARE AVAILABLE BY APPLICATION TO MEET CRITICAL NEEDS FOR SCHOLARS EXPERIENCING MAJOR CHALLENGES.
STUDENT DEVELOPMENT - IN ADDITION TO THE FINANCIAL AND CASE MANAGEMENT RESOURCES COMPOSING THE SCHOLAR DEVELOPMENT MODEL, SCHOLARS ALSO HAVE ACCESS TO A ROBUST SET OF ACADEMIC AND PROFESSIONAL RESOURCES. THROUGHOUT THE SCHOOL YEAR, OMD PROVIDES ACCESS TO WEEKLY INDIVIDUALIZED TUTORING TO SCHOLARS AT ALL COURSE LEVELS. OMD ALSO HOSTS MONTHLY PERSONAL AND PROFESSIONAL DEVELOPMENT WORKSHOPS IN WHICH SCHOLARS LEARN BUSINESS COMMUNICATION SKILLS, PERSONAL FINANCIAL LITERACY AND PLANNING, HOW TO NAVIGATE THEIR IDENTITIES IN THE WORKPLACE, AND CIVIC ENGAGEMENT AND LEADERSHIP DEVELOPMENT. SCHOLARS ARE ALSO MATCHED WITH ONE OF OMD'S VOLUNTEER COACHES WHO SUPPORT SCHOLARS GOAL SETTING, RESUME DEVELOPMENT, INTERVIEW SKILLS, AND POST-GRADUATE CAREER AND ACADEMIC PLANNING. SCHOLARS ALSO HAVE THE OPPORTUNITY TO PARTICIPATE IN EXPERIENTIAL EVENTS TO APPLY AND BUILD UPON THE SKILLS THEY ARE LEARNING. THESE EVENTS HAVE INCLUDED CAREER AND RESOURCE FAIRS WHICH CONNECT SCHOLARS TO JOB OPPORTUNITIES AND RESOURCES AVAILABLE IN THEIR COMMUNITY AND COLLEGE AS WELL AS SPEED NETWORKING, AN EVENT WHERE SCHOLARS PRACTICE NETWORKING WITH OMD VOLUNTEERS.
INDIVIDUALIZED SUPPORT - THE CENTRAL POINT OF CONNECTION BETWEEN A SCHOLAR AND OMD IS THE PROGRAM COORDINATOR, WHO PROVIDES PERSONALIZED CASE MANAGEMENT AND SUPPORT TO A CASELOAD OF SCHOLARS AT THEIR CAMPUS. PROGRAM COORDINATORS MEET BI-WEEKLY WITH SCHOLARS, CONNECT SCHOLARS TO RESOURCES, SUPPORT GOAL SETTING, AND HELP SCHOLARS NAVIGATE THEIR COLLEGE'S SYSTEMS AND BUREAUCRACY. PROGRAM COORDINATORS SERVE AS TRUSTED ADVISORS AND ADVOCATES FOR THEIR SCHOLARS AND ASSIST IN SETTING GOALS AND HOLDING SCHOLARS ACCOUNTABLE. PERFORMANCE EVALUATIONS AND COORDINATOR FEEDBACK CAN ASSIST SCHOLARS IN MONITORING AND ACCELERATING THEIR PROGRESS ON PATHWAYS TO ECONOMIC MOBILITY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Judy Marwick Co-Chair Of The Board | OfficerTrustee | 3 | $0 |
Thania Panopoulos Co-Chair Of The Board | OfficerTrustee | 3 | $0 |
Joseph Skarda Vice Chair Of The Board | OfficerTrustee | 3 | $0 |
Connie Mixon Secretary | OfficerTrustee | 3 | $0 |
Andy Wong Treasurer | OfficerTrustee | 3 | $0 |
Melissa Bean Director | Trustee | 3 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $517,470 |
Related organizations | $0 |
Government grants | $914,319 |
All other contributions, gifts, grants, and similar amounts not included above | $3,505,094 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $4,936,883 |
Total Program Service Revenue | $179,806 |
Investment income | $46,393 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $8,695 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $5,175,677 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $589,236 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $203,216 |
Compensation of current officers, directors, key employees. | $81,286 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,390,359 |
Pension plan accruals and contributions | $26,632 |
Other employee benefits | $245,760 |
Payroll taxes | $196,780 |
Fees for services: Management | $0 |
Fees for services: Legal | $33,632 |
Fees for services: Accounting | $49,233 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $590,246 |
Advertising and promotion | $64,926 |
Office expenses | $137,517 |
Information technology | $104,687 |
Royalties | $0 |
Occupancy | $1,163 |
Travel | $39,866 |
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 | $26,819 |
All other expenses | $41,994 |
Total functional expenses | $4,742,066 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $694,581 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $1,912,181 |
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 | $85,309 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $4,570,809 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $7,262,880 |
Accounts payable and accrued expenses | $224,490 |
Grants payable | $0 |
Deferred revenue | $268,505 |
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 | $458,582 |
Other liabilities | $0 |
Total liabilities | $951,577 |
Net assets without donor restrictions | $4,239,642 |
Net assets with donor restrictions | $2,071,661 |
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 | $7,262,880 |