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Progress for Good INC EIN 82-3293766

Progress for Good INC

EIN  82-3293766 Public charity (501(c)(3)) Brooklyn, NY
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Size
$100K–1M
What they do
Empowering entrepreneurs from under-resourced communities to grow businesses and invest in social causes.
Leadership
Lloyd Cambridge · Founder · $143K
Money in and out
$553K revenue, $518K expenses
Bottom line
77% program efficiency

Empowering entrepreneurs from under-resourced communities to grow businesses and invest in social causes. For fiscal year 2024 it reported $553K in revenue, $518K in expenses, and $100K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$553K
Pt VIII · Ln 12
Total expenses
$518K
Pt IX · Ln 25
Net assets
$100K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $35K
Where spending went · Part IX cols B–D
Program services $0.77 Management & general $0.23
Program efficiency
77%
of spending reaches programs
Operating runway
1.0mo
months of highly liquid reserves at operating expense rate▼ -76% vs prior filing year
Surplus margin
+6%
revenue over expenses, this year▼ -47% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$553K
FY2024▲ +76%
Expenses
$518K
FY2024▲ +87%
Total assets
$185K
FY2024▲ +1%
Total liabilities
$85K
FY2024▼ -28%
Total revenue
$553K
Pt VIII · Ln 12
Total expenses
$518K
Pt IX · Ln 25
Net assets
$100K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$35K
Total assetsPt X · Ln 16$185K
Program-expense ratioPt IX · col B77%
Voting members of governing bodyPt I · Ln 34
Independent voting membersPt I · Ln 43
Mission & Programs · Part III

Where the work happens

1 program service account for $401K of program spending, described in the organization's own filed words · FY2024.
01

To equip entrepreneurs from under resourced communities to grow businesses and invest in social causes they care about.

$401Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProgress for Good INC
EINHdr · item D82-3293766
Principal addressHdr · item CBrooklyn, NY
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B60)
Ruling yearIRS BMFSep 2021

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a4
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$143,332Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Lloyd Cambridge’s $143K as Founder is at the 94th percentile of top reported officer pay among 1616 $100K–1M education 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.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022
Lloyd Cambridge$143,332$31,333$21,666

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants100%$552K
Program service revenue$658
Total revenueLn 12$553K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.77 Management & general $0.23
Program services77%$401K
Management & general23%$118K
Total functional expensesLn 25$518K

Balance Sheet

Part X · end of year
CashLn 1$45K
Total assetsLn 16$185K
Total liabilitiesLn 26$85K
Total net assetsLn 32$100K
Months of cash on handcomputed1.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $45K · Operating expenses/yr $518K
1.0 months
Where the money goes
Program services
Program services $401K · Total expenses $518K
77%
Management & General
Management & general $118K · Total expenses $518K
23%
Fundraising
Fundraising $0 · Total expenses $518K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $396K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $552K · Total revenue $553K
100%
Government reliance
Government grants — · Total revenue $553K
—
Earned-income share
Program service revenue $658 · Total revenue $553K
0%
Investment reliance
Investment income $0 · Total revenue $553K
0%
Program self-sufficiency
Program service revenue $658 · Total expenses $518K
0%
Growth & trend
Revenue growth (YoY)
This year $553K · Prior year $315K
+76%
Net-asset trend (YoY)
End of year $100K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $553K · Expenses $518K
+6%
Liabilities-to-Assets
Total liabilities — · Total assets $185K
—
Net-asset ratio
Net assets $100K · Total assets $185K
54%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $185K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Lloyd Cambridge · Reported title FOUNDER · Highest reported compensation $143K · Total expenses $518K
28%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $101K · Total expenses $518K
20%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 77%——
Overhead ratio 23%——
Fundraising cost ratio 0%——
Revenue growth 76%——
Accounting fee ratio 2%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
United Way of New York CityFY2024$447K
Total grants receivedfrom 1 funder$447K
Grants paid · 3 grants · $96K · 2022–2023
Unitemized GrantFY2023$48,000
Unitemized GrantFY2023$6,000
Unitemized GrantFY2022$42,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$553K revenue · viewing · ⤓ 990 PDF
FY2023$315K revenue · ⤓ 990 PDF
FY2022$363K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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