Program Believe EIN 87-1134200

Program Believe

EIN  87-1134200 Public charity (501(c)(3)) Biloxi, MS
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Provides affordable educational resources and immigration legal aid to underserved Gulf Coast communities.
Leadership
Jennie Searcy · Director
Money in and out
$419K revenue, $339K expenses
Bottom line
4% program efficiency

Provides affordable educational resources and immigration legal aid to underserved Gulf Coast communities. For fiscal year 2024 it reported $419K in revenue, $339K in expenses, and $236K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$419K
Pt VIII · Ln 12
Total expenses
$339K
Pt IX · Ln 25
Net assets
$236K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $81K
Where spending went · Part IX cols B–D
Program services $0.04 Management & general $0.96
Program efficiency
4%
of spending reaches programs▼ -77% vs prior filing year
Operating runway
8.3mo
months of highly liquid reserves at operating expense rate▲ +30% vs prior filing year
Surplus margin
+19%
revenue over expenses, this year▲ +81% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$419K
FY2024▲ +29%
Expenses
$339K
FY2024▲ +16%
Total assets
$237K
FY2024▲ +52%
Total liabilities
$506
FY2024▲ +56%
Total revenue
$419K
Pt VIII · Ln 12
Total expenses
$339K
Pt IX · Ln 25
Net assets
$236K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$81K
Total assetsPt X · Ln 16$237K
Program-expense ratioPt IX · col B4%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

2 program services account for $12K of program spending, described in the organization's own filed words · FY2024.
01

Summer Enrichment

The summer enrichment program is held for 6 weeks from june to july. This program is designed for under-served, disadvantaged children to help prevent learning loss in reading, writing and math skills during the summer break.

$7Kprogram expense
02

Immigration Legal Services

Program believe provides low-cost immigration services to those who are unable to contract the services of a private attorney and provides these services regardless of race, religion, sex, or ethnic origin.

$5Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProgram Believe
EINHdr · item D87-1134200
Principal addressHdr · item CBiloxi, MS
WebsiteHdr · item Jprogram-believe.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMS
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P30)
Ruling yearIRS BMFFeb 2022

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice-Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
See Program Believe executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants100%$419K
Investment income$81
Total revenueLn 12$419K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.04 Management & general $0.96
Program services4%$12K
Management & general96%$326K
Total functional expensesLn 25$339K

Balance Sheet

Part X · end of year
CashLn 1$235K
Total assetsLn 16$237K
Total liabilitiesLn 26$506
Total net assetsLn 32$236K
Months of cash on handcomputed8.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $235K · Operating expenses/yr $339K
8.3 months
Where the money goes
Program services
Program services $12K · Total expenses $339K
4%
Management & General
Management & general $326K · Total expenses $339K
96%
Fundraising
Fundraising $0 · Total expenses $339K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $10 · Solicited contributions (3-yr avg) $356K
$0.00 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $419K · Total revenue $419K
100%
Government reliance
Government grants — · Total revenue $419K
Earned-income share
Program service revenue $0 · Total revenue $419K
0%
Investment reliance
Investment income $81 · Total revenue $419K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $339K
0%
Growth & trend
Revenue growth (YoY)
This year $419K · Prior year $326K
+29%
Net-asset trend (YoY)
End of year $236K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $419K · Expenses $339K
+19%
Liabilities-to-Assets
Total liabilities — · Total assets $237K
Net-asset ratio
Net assets $236K · Total assets $237K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $237K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Jennie Searcy · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $339K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $136K · Total expenses $339K
40%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 4%
Overhead ratio 96%
Fundraising cost ratio 0%
Revenue growth 29%
Legal fee ratio 1%
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 · funders on record
Grants received · FY2024
See all 4 funders →

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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)$419K revenue · viewing · ⤓ 990 PDF
FY2023$326K revenue · ⤓ 990 PDF
FY2022$324K revenue · ⤓ 990 PDF
FY2021$127K 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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