Is it real?
Yes. Exemption reinstated (2019-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Nov 2021.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
68 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
5 people listed on the 990; $201K paid to officers and key staff.
Lisa Evans’s $102K as Assistant Director is at the 98th percentile of top reported officer pay among 290 <$100K employment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Offers programs for economic development, personal empowerment, and education to those in need.
Questions for Verge INC
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To provide charitable outreach programs to economincally and socially underprivileged persons in the areas of economic development, personal empowerment, and educational assistance.
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $103K | $9K |
| Land, buildings, equipmentLn 10c | $20K | $9K |
| Total assetsLn 16 | $287K | $284K |
| LiabilitiesLn 26 | $104K | $123K |
| Net assetsLn 32 | $183K | $161K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Other salaries and wagesLn 7 | $331K | $282K | $49K | |
| Other employee benefitsLn 9 | $43K | $3K | $40K | |
| Payroll taxesLn 10 | $25K | $22K | $4K | |
| Management feesLn 11a | $148K | $144K | $4K | |
| Other fees for servicesLn 11g | $26K | $14K | $12K | |
| Advertising and promotionLn 12 | $2K | $259 | $1K | |
| Office expensesLn 13 | $28K | $6K | $23K | |
| Information technologyLn 14 | $22K | $2K | $21K | |
| OccupancyLn 16 | $53K | $43K | $11K | |
| TravelLn 17 | $35K | $3K | $32K | |
| InterestLn 20 | $6K | $6K | ||
| Depreciation, depletion and amortizationLn 22 | $11K | $11K | ||
| InsuranceLn 23 | $5K | $5K | ||
| Other expenses (24a–d)Ln 24 | $49K | $16K | $33K | |
| All other expensesLn 24e | $11K | $3K | $8K | |
| Total functional expensesLn 25 | $796K | $538K | $259K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $0 | $0 | $0 | $152K | 990 PDF |
| FY2023 | $0 | $2K | −$2K | $152K | 990 PDF |
| FY2022 | $0 | $7K | −$7K | $154K | 990 PDF |
| FY2021 Viewing | $774K | $796K | −$23K | $161K | 990 PDF |
| FY2020 | $739K | $719K | $20K | $183K | 990 PDF |
| FY2019 | $761K | $696K | $65K | $181K | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $773,710 revenue, 12 lines filed
Part VI · Governance 5 of 5 board members independent, 4 to look at
Part VIII · Statement of revenue $773,710 across 4 lines filed
Part IX · Statement of functional expenses $796,324 across 15 lines filed
Part X · Balance sheet $283,720 assets, 10 lines filed
Part XI · Reconciliation of net assets $160,631 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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