College Unbound
- Assets
- $1.7m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 89
- Location
- Providence, RI
- Founding
- 07/2014
- Data as of
- 06/2021
- EIN
- 46-2470807
Organization Overview
College Unbound is located in Providence, RI. The organization was established in 2014. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 06/2021, College Unbound employed 89 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. College Unbound 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, College Unbound generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 22.3% each year . All expenses for the organization totaled $2.9m during the year ending 06/2021. While expenses have increased by 24.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
COLLEGE UNBOUND'S MISSION IS TO REINVENT HIGHER EDUCATION FOR UNDERREPRESENTED RETURNING ADULT LEARNERS, USING A MODEL THAT IS INDIVIDUALIZED, INTEREST-BASED, PROJECT DRIVEN, WORKPLACE-ENHANCED, COHORT-SUPPORTED, FLEXIBLE, SUPPORTIVE, AND AFFORDABLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE UNBOUND INTEGRATES THE STUDENTS' OWN PURPOSES FOR LEARNING WITH THE NEEDS OF THEIR WORKPLACES AND COMMUNITIES, IMPROVING THE LIVES OF THE STUDENTS AND THE LIVES OF THOSE THEY TOUCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Bush Vice President Of Academic | Officer | 40 | $106,495 |
Robert Carothers Executive Vice President | Officer | 16 | $63,461 |
Pat Kidder Chairman | OfficerTrustee | 1 | $0 |
Louis Soares Vice Chairman | OfficerTrustee | 1 | $0 |
Nicholas Longo Secretary | OfficerTrustee | 1 | $0 |
Chris Montagnino Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $387,814 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,620,520 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,008,334 |
| Total Program Service Revenue | $1,470,960 |
| Investment income | $4,192 |
| 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 | $3,483,486 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $381,482 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $323,815 |
| Compensation of current officers, directors, key employees. | $172,858 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,312,929 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $264,625 |
| Payroll taxes | $149,476 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,758 |
| Fees for services: Accounting | $26,029 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $83,844 |
| Advertising and promotion | $0 |
| Office expenses | $27,833 |
| Information technology | $59,277 |
| Royalties | $0 |
| Occupancy | $18,477 |
| Travel | $4,763 |
| 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 | $10,580 |
| Insurance | $9,390 |
| All other expenses | $20,672 |
| Total functional expenses | $2,889,749 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,492,395 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $140,000 |
| Accounts receivable, net | $27,310 |
| 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 | $6,087 |
| Net Land, buildings, and equipment | $27,078 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,692,870 |
| Accounts payable and accrued expenses | $99,701 |
| Grants payable | $0 |
| Deferred revenue | $37,853 |
| 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 | $137,554 |
| Net assets without donor restrictions | $645,451 |
| Net assets with donor restrictions | $909,865 |
| 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 | $1,692,870 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that College Unbound has recieved totaling $32,500.
| Awarding Organization | Amount |
|---|---|
Calvin K Kazanjian Economics Foundation Inc Scottsdale, AZ PURPOSE: SUPPORT FOR "EVERDAY ECONOMICS: A PRACTICAL FINANCE AND ECONOMICS CURRICULUM FOR ADULT BA COMPLETERS" | $32,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Technical Assistance Collaborative Inc Boston, MA | $7,617,476 | $12,320,567 |
Hart United Inc North Haven, CT | $3,744,334 | $8,818,103 |
Harrow Corporation Cambridge, MA | $149,449,226 | $7,488,293 |
March Inc Of Manchester C/O Robert F Gorman Manchester, CT | $2,238,128 | $7,972,954 |
Compass Working Capital Inc Boston, MA | $7,231,995 | $7,536,157 |
St Marys Center For Women And Children Dorchester, MA | $17,216,628 | $6,009,920 |
Nexus Inc Woburn, MA | $3,178,879 | $5,374,987 |
Elizabeth Freeman Center Inc Pittsfield, MA | $1,785,847 | $4,169,842 |
Semcoa Inc New Bedford, MA | $4,008,939 | $3,889,678 |
Metrowest Legal Services Inc Framingham, MA | $3,717,973 | $3,482,434 |
Tech Goes Home Incorporated Boston, MA | $2,786,429 | $3,596,585 |
L Arche Boston North Inc Haverhill, MA | $4,312,366 | $3,662,150 |