To provide higher education institutions with an innovative, results- oriented college model that is inclusive and accessible to students who are often underrepresented at selective universities.

501(c)(3) charity; gifts are tax-deductible.
61¢ of each $1 spent went to programs.
Run by 2 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $588K a year · 34% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
61%
of spending
Worth a look: 61% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$194K
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
12 mo
of spending, in cash
Looks good: 12.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $2K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$224K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.2M
-24% vs prior year
Spent
$1.8M
To programs
61%
Net assets
$3.2M
By yearFY2020–FY2025
Revenue
$2.2M
FY2025▼ -24%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.2M
FY2022$1.4M
FY2023$1.1M
FY2024$2.9M
FY2025$2.2M
Expenses
$1.8M
FY2025▼ -19%
Tap a bar for its year
Expenses by fiscal year
FY2020$119K
FY2022$772K
FY2023$983K
FY2024$2.2M
FY2025$1.8M
Net assets
$3.2M
FY2025▲ +17%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.1M
FY2022$1.9M
FY2023$2.0M
FY2024$2.8M
FY2025$3.2M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2019.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

61 cents of each dollar spent went to programs.

Program services 61% · $1.1M Management & general 15% · $264K Fundraising 24% · $420K

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

19 people listed on the 990; $194K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Chief Operat
$193,656Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022
Samuel Adams$193,656$168,865$114,758—
William Reidy Until 22023——$186,800—
Susan Conniff———$144,567
Susan Conniff Until 62023——$34,408—
Rev Stephen Katsouros Sj—$9,500——

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.

See Come to Believe Foundation executive salaries →

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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 15aYes

Programs and updates

Offers colleges an inclusive model to educate underrepresented students.

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Provided by the organization

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1 program · $1.1M · in their own filed words · FY2024
01

(1) to provide consultation and financial support to colleges and universities that want to adopt the come to believe two-year college model, (the "CTB model") offering liberal arts education to a diverse population, including individuals from low income families and whom are the first in their family to pursue higher education, (2) to…

$1.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$2K
Grants paid · 26 grants · $1.8M · 2022–2024
Butler UniversityIN · FY2024$50,000
University of St ThomasMN · FY2024$50,000
Loyola University of ChicagoIL · FY2024$50,000
University of Detroit MercyMI · FY2024$17,500
University of San DiegoCA · FY2024$15,000
Homeboy IndustriesCA · FY2024$12,000
Loyola University of ChicagoIL · FY2024$11,000
University of St ThomasMN · FY2024$10,000
Butler UniversityIN · FY2023$500,000
University of San DiegoCA · FY2023$30,000
Homeboy IndustriesCA · FY2023$30,000
See all 26 grants →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$2.2M
Ln 12
Gifts and grantsLn 1h$2.1M
Investment incomeLn 3$133K
Money outPt IX
$1.8M
Ln 25
Programscol B$1.1M
Managementcol C$264K
Fundraisingcol D$420K
Owns and owesPt X
$3.2M
net assets · Ln 32
Cash and savingsLn 1–2$1.8M
Total assetsLn 16$3.5M
LiabilitiesLn 26$224K
PeoplePt VI, VII
19
listed · VII A
PaidVII A1
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.1M
Noncash giftsLn 1g$2K
Investment incomeLn 3$133K
Gains on assetsLn 7$6
Total revenueLn 12$2.2M
Assets in detailPt X, end of year
CashLn 1$216K
SavingsLn 2$1.6M
Cash and savings togetherLn 1–2$1.8M
InvestmentsLn 11–13$1.4M
Other assetsLn 15$9K
Total assetsLn 16$3.5M
LiabilitiesLn 26$224K
Net assetsLn 32$3.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$798K$1.8M
InvestmentsLn 11–13$2.0M$1.4M
Total assetsLn 16$2.8M$3.5M
LiabilitiesLn 26$21K$224K
Net assetsLn 32$2.8M$3.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$428K$428K
Pay of current officers, directors and key staffLn 5$200K$120K$60K$20K
Other salaries and wagesLn 7$240K$72K$78K$90K
Pension plan contributionsLn 8$27K$12K$7K$8K
Other employee benefitsLn 9$46K$21K$10K$15K
Payroll taxesLn 10$32K$14K$8K$9K
Accounting feesLn 11c$18K$18K
Other fees for servicesLn 11g$407K$199K$22K$185K
Advertising and promotionLn 12$29K$9K$21K
Office expensesLn 13$26K$26K
Information technologyLn 14$10K$4K$3K$3K
OccupancyLn 16$56K$23K$13K$21K
TravelLn 17$141K$84K$9K$48K
Conferences, conventions and meetingsLn 19$6K$6K
InsuranceLn 23$7K$3K$4K
Other expenses (24a–d)Ln 24$87K$87K
Total functional expensesLn 25$1.8M$1.1M$264K$420K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $2.2M$1.8M$466K$3.2M 990 PDF
FY2024 $2.9M$2.2M$756K$2.8M 990 PDF
FY2023 $1.1M$983K$82K$2.0M 990 PDF
FY2022 $1.4M$772K$597K$1.9M 990 PDF
FY2021 Not on file
FY2020 $1.2M$119K$1.0M$1.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $2,227,086 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,867,344$2,094,274
I-9 Program service revenue$0
I-10 Investment incomePrior year $60,272$132,812
I-11 Other revenue$0
I-12 Total revenuePrior year $2,927,616$2,227,086
I-13 Grants and similar amounts paidPrior year $1,242,500$428,000
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $352,351$545,272
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $576,556$788,188
I-18 Total expensesPrior year $2,171,407$1,761,460
I-19 Revenue less expensesPrior year $756,209$465,626
Part VI · Governance 17 of 17 board members independent, no flags
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,227,086 across 6 lines filed
VIII-1f All other contributions, gifts and grants$2,094,274
VIII-1g Noncash contributions (included above)$1,550
VIII-1h Total contributions, gifts and grants$2,094,274
VIII-3 Investment incomeExcluded from tax $132,806$132,806
VIII-7 Net gain or loss on sales of assetsExcluded from tax $6$6
VIII-12 Total revenueExcluded from tax $132,812$2,227,086
Part IX · Statement of functional expenses $1,761,460 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $428,000$428,000
IX-5 Pay of current officers, directors and key staffPrograms $120,000 · Management $60,000 · Fundraising $20,000$200,000
IX-7 Other salaries and wagesPrograms $71,970 · Management $78,045 · Fundraising $90,000$240,015
IX-8 Pension plan contributionsPrograms $12,479 · Management $6,629 · Fundraising $8,176$27,284
IX-9 Other employee benefitsPrograms $21,484 · Management $10,222 · Fundraising $14,596$46,302
IX-10 Payroll taxesPrograms $14,486 · Management $7,694 · Fundraising $9,491$31,671
IX-11c Accounting feesManagement $18,297$18,297
IX-11g Other fees for servicesPrograms $198,982 · Management $22,238 · Fundraising $185,433$406,653
IX-12 Advertising and promotionPrograms $8,666 · Fundraising $20,684$29,350
IX-13 Office expensesManagement $26,168$26,168
IX-14 Information technologyPrograms $4,365 · Management $3,256 · Fundraising $2,860$10,481
IX-16 OccupancyPrograms $22,588 · Management $13,177 · Fundraising $20,706$56,471
IX-17 TravelPrograms $83,607 · Management $8,849 · Fundraising $48,211$140,667
IX-19 Conferences, conventions and meetingsManagement $5,895$5,895
IX-23 InsurancePrograms $2,985 · Management $3,966$6,951
IX-24 Other expenses (24a–d)Programs $87,255$87,255
IX-25 Total functional expensesPrograms $1,076,867 · Management $264,436 · Fundraising $420,157$1,761,460
Part X · Balance sheet $3,464,249 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $797,847$215,622
X-2 Savings and temporary cash investments$1,619,032
X-3 Pledges and grants receivableStart of year $7,500$168,500
X-9 Prepaid expenses and deferred chargesStart of year $11,247$3,671
X-11 Publicly traded securitiesStart of year $1,965,420$1,448,424
X-15 Other assetsStart of year $13,500$9,000
X-16 Total assetsStart of year $2,795,514$3,464,249
X-17 Accounts payable and accrued expensesStart of year $20,745$24,252
X-18 Grants payable$200,000
X-26 Total liabilitiesStart of year $20,745$224,252
X-27 Net assets without donor restrictionsStart of year $2,220,961$2,429,446
X-28 Net assets with donor restrictionsStart of year $553,808$810,551
X-32 Total net assets or fund balancesStart of year $2,774,769$3,239,997
X-33 Total liabilities and net assetsStart of year $2,795,514$3,464,249
Part XI · Reconciliation of net assets $3,239,997 net assets at year end
XI-1 Total revenue$2,227,086
XI-2 Total expenses$1,761,460
XI-3 Revenue less expenses$465,626
XI-4 Net assets at start of year$2,774,769
XI-5 Net unrealized gains (losses) on investments−$398
XI-10 Net assets at end of year$3,239,997

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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