Trio New College Network Inc
- Assets
- $3.2m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 30
- Location
- Boston, MA
- Founding
- Data as of
- 06/2023
- EIN
- 85-3880867
Organization Overview
Trio New College Network Inc is located in Boston, MA. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 06/2023, Trio New College Network Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trio New College Network 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 06/2023, Trio New College Network Inc generated $3.6m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 28.6% each year . All expenses for the organization totaled $3.0m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF TRIO NEW COLLEGE NETWORK IS TO PARTNER WITH LOCAL COMMUNITY LEADERS TO HELP LAUNCH AND OPERATE COLLEGE SUCCESS CENTERS IN THEIR COMMUNITY IN ORDER TO BETTER SERVE STUDENTS WHO ARE CURRENTLY NOT WELL-SUPPORTED BY EXISTING HIGHER EDUCATION OPTIONS, AND GIVE ALL STUDENTS ACCESS TO A LOW-COST, HIGH QUALITY DEGREE PATHWAY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRIO LAUNCHES AND OPERATES LOCAL COMMUNITY PARTNER PROGRAMS IN COMMUNITIES ACROSS THE COUNTRY THAT PROVIDE COACHING AND SUPPORT TO HELP MORE NONTRADITIONAL STUDENTS EARN THEIR COLLEGE DEGREE.OUR LARGEST PROGRAM IS OUR NATIONAL INCUBATION AND SUPPORT NETWORK. IN FISCAL YEAR 2023, WE CONTINUED OPERATING PROGRAMS IN NEWARK, NJ, CAMDEN, NJ, AND DETROIT, MI, AND WE INCUBATED THE LAUNCH OF A NEW PROGRAM IN CONNECTICUT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Hamann Executive Director - Dep | 40 | $156,710 | |
Danielle North Executive Director - Degree Forward | 40 | $149,997 | |
Joseph Wesley Peacock Treasurer / Managing Director, Program & Operation | Officer | 40 | $107,841 |
Saymah Nah Executive Director - Gateway U | 40 | $115,178 | |
John Gabrieli Clerk / Managing Director, Growth & Strategy | Officer | 40 | $109,174 |
Khary Golden Executive Director - Camden U | 40 | $110,000 |
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 | $3,412,455 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,412,455 |
| Total Program Service Revenue | $221,168 |
| Investment income | $0 |
| 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 | $3,633,623 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $28,500 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $255,063 |
| Compensation of current officers, directors, key employees. | $27,483 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,254,880 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $98,767 |
| Payroll taxes | $131,854 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,880 |
| Fees for services: Accounting | $78,715 |
| Fees for services: Lobbying | $13,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $598,542 |
| Advertising and promotion | $191,324 |
| Office expenses | $0 |
| Information technology | $58,148 |
| Royalties | $0 |
| Occupancy | $141,681 |
| Travel | $71,303 |
| 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 | $18,612 |
| All other expenses | $5,287 |
| Total functional expenses | $3,042,547 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,671,990 |
| Savings and temporary cash investments | $436,074 |
| Pledges and grants receivable | $705,000 |
| Accounts receivable, net | $108,297 |
| 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 | $21,454 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $250,182 |
| Total assets | $3,192,997 |
| Accounts payable and accrued expenses | $166,660 |
| Grants payable | $0 |
| Deferred revenue | $220,000 |
| 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 | $251,801 |
| Total liabilities | $638,461 |
| Net assets without donor restrictions | $884,965 |
| Net assets with donor restrictions | $1,669,571 |
| 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 | $3,192,997 |
Grants Awarded
Over the last fiscal year, Trio New College Network Inc has awarded $29,847 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DIPLOMA EQUITY PROJECT PURPOSE: TO SUPPORT ORGANIZATIONAL START-UP COSTS | $23,347 |
GREAT OAKS CHARTER SCHOOL PURPOSE: INNOVATION AND DESIGN | $6,500 |