College Bound Inc is located in Washington, DC. The organization was established in 1992. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 12/2021, College Bound Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. College Bound 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 12/2021, College Bound Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $1.0m during the year ending 12/2021. While expenses have increased by 4.8% per year over the past 7 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
TO PREPARE PUBLIC AND PUBLIC CHARTER SCHOOL STUDENTS IN THE METROPOLITAN WASHINGTON, DC AREA TO ENTER COLLEGE, EARN A DEGREE, AND ACHIEVE THEIR PERSONAL AND PROFESSIONAL GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE BOUND'S MULTI-PRONGED APPROACH TO SUPPORTING STUDENTS HAS BEEN MAKING COLLEGE A REALITY FOR PUBLIC SCHOOL STUDENTS SINCE 1991. IT'S ACADEMIC MENTORING PROGRAM MATCHES OVER 200 STUDENTS IN 8TH-12TH GRADE WITH COLLEGE-EDUCATED PROFESSIONALS, WHO BECOME THEIR ACADEMIC MENTORS. PAIRS MEET ONCE WEEKLY FOR TWO HOURS, DURING THE SCHOOL YEAR, AT ONE OF SEVEN 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 YEARLY AND PROVIDES PARTICIPANTS ACCESS TO A LOW COST 10-WEEK TEST PREPARATION COURSE TAUGHT BY INDUSTRY PROFESSIONALS. AFTER COMPLETING THE SAT CLASS, STUDENTS ARE ENROLLED THE NEXT SEMESTER IN ONE-ON-ONE SAT TUTORING WHICH IS TARGETED TO ADDRESS THEIR INDIVIDUAL NEEDS, LEADING TO AVERAGE INCREASES OF 200-300 POINTS ON THE SAT.TWO COLLEGE TOURS, A COLLEGE FAIR, AND CAREER NIGHT/EXPLORATION ARE OFFERED TO EXPAND STUDENTS' AWARENESS OF A COLLEGE EDUCATION AND ITS VALUE. THE FALL TOUR IS A ONE-DAY VISIT TO TWO TO THREE SCHOOLS WITH A CERTAIN REGIONAL RADIUS; WHILE THE FOUR-DAY SPRING TOUR IS OVER THE 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-12TH GRADE STUDENTS WHERE THEY PARTICIPATE IN ROUNDTABLE DISCUSSIONS ON CAREER GOALS AND OPPORTUNITIES THAT EXIST FOR THEM AFTER COLLEGE GRADUATION. BECAUSE OF OUR GROWTH, WE OFFER A SEPARATE CAREER EXPLORATION FOR 8TH AND 9TH GRADERS TO EXPOSE THEM TO A MYRIAD OF CAREER PATHS. BOTH EVENTS FEATURE KEYNOTE SPEAKERS WHO HAVE DISTINGUISHED THEMSELVES IN THEIR CHOSEN CAREER PATH. TO ADDRESS STUDENTS' INTEREST AND THE NEED TO INCREASE THEIR AWARENESS OF STEM OPTIONS, COLLEGE BOUND OFFERS REMEDIATION AND ENRICHMENT THREE TIMES WEEKLY THROUGH ITS "STEM IN YOUR HOOD" PROGRAM. ADDITIONALLY, STEM PROFESSIONALS MEET WITH STUDENTS MONTHLY DURING "MEDI-TECH TUESDAYS" TO PROVIDE INSIGHT ON CAREER OPPORTUNITIES IN STEM. WE OFFER SCHOLARSHIPS TO ASSIST OUR STUDENTS WITH FUNDING THEIR EDUCATION; TOTALING MORE THAN $266,000 FOR THE CLASS OF 2021. SCHOLARSHIPS RANGE FROM $200 TO $20,000. FINALLY, OUR VIRTUAL MENTORING PROGRAM (VMP) PROVIDES ALUMNI ACCESS TO SERVICES THAT THEY NEED TO BE SUCCESSFUL AS THEY MATRICULATE 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 THERE IS A NEED. THESE SUPPORTS HELP TO INCREASE COLLEGE RETENTION AND GRADUATION RATES FOR STUDENTS TO ENSURE 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 81%) EXCEED THE NATIONAL AVERAGE FOR ALL STUDENTS AND MORE THAN DOUBLE THOSE FOR THE DEMOGRAPHIC THAT WE ARE SERVING.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Kenneth A Ward Executive Director | Officer | 60 | $137,314 |
Michael Grant Treasurer | OfficerTrustee | 6 | $0 |
Treneisha Jones-Gaston Board Chair | OfficerTrustee | 6 | $0 |
Tracey Hughes Secretary | OfficerTrustee | 6 | $0 |
Goutam Gooch Patnaik Vice Chair | OfficerTrustee | 6 | $0 |
Deborah Williams-Lofton Board Member | Trustee | 4 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $30,111 |
Membership dues | $0 |
Fundraising events | $37,663 |
Related organizations | $0 |
Government grants | $77,990 |
All other contributions, gifts, grants, and similar amounts not included above | $996,982 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,142,746 |
Total Program Service Revenue | $1,455 |
Investment income | $571 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | -$14,155 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,130,617 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $266,750 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $155,626 |
Compensation of current officers, directors, key employees. | $15,563 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $321,796 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $10,076 |
Payroll taxes | $42,743 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $57,433 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $17,396 |
Advertising and promotion | $300 |
Office expenses | $7,126 |
Information technology | $4,920 |
Royalties | $0 |
Occupancy | $11,903 |
Travel | $41,662 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $17,587 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $4,302 |
Insurance | $20,610 |
All other expenses | $1,366 |
Total functional expenses | $1,004,198 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $396,990 |
Savings and temporary cash investments | $5,679 |
Pledges and grants receivable | $180,636 |
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 | $964 |
Net Land, buildings, and equipment | $9,177 |
Investments—publicly traded securities | $72,562 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $2,738 |
Total assets | $668,746 |
Accounts payable and accrued expenses | $63,560 |
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 | $82,621 |
Other liabilities | $0 |
Total liabilities | $146,181 |
Net assets without donor restrictions | -$27,371 |
Net assets with donor restrictions | $549,936 |
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 | $668,746 |
Over the last fiscal year, we have identified 3 grants that College Bound Inc has recieved totaling $110,105.
Awarding Organization | Amount |
---|---|
Public Media Lab Washington, DC PURPOSE: TO SUPPORT THEIR MISSION OF PREPARING HIGH SCHOOL STUDENTS TO ENTER AND SUCCEED IN COLLEGE | $110,000 |
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $55 |
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $50 |
Organization Name | Assets | Revenue |
---|---|---|
Results For America Washington, DC | $34,611,584 | $37,342,488 |
Israel On Campus Coalition Washington, DC | $6,950,162 | $10,725,464 |
Cameron Foundation Petersburg, VA | $170,387,931 | $14,350,568 |
Frameworks Institute Washington, DC | $8,374,816 | $6,057,104 |
News Literacy Project Inc Bethesda, MD | $6,963,162 | $5,070,663 |
Seed Foundation Inc Washington, DC | $10,420,742 | $4,996,042 |
College Summit Inc Washington, DC | $4,976,677 | $6,077,996 |
Maryland Business Roundtable For Education Inc Baltimore, MD | $721,059 | $3,522,017 |
Virginia Tech Services Inc Blacksburg, VA | $8,676,644 | $3,908,616 |
Technology Student Association Reston, VA | $4,030,587 | $3,611,530 |
Petersburg Library Foundation Inc Petersburg, VA | $154,347 | $1,622,780 |
I E C Chesapeake Apprenticeship & Training Inc Laurel, MD | $3,113,507 | $2,893,289 |