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Bound For College Inc.

Helping Underprivileged Students Reach Their Full Potential

aka Bound For College   |   Delray Beach, FL   |  www.weareboundforcollege.org
GuideStar Charity Check

Bound For College Inc.

EIN: 45-4916115


Mission

At Bound For College we recognize that college readiness is critically important for students as they apply to post-secondary institutions, and offer programming that not only cultivates the higher-order thinking skills required to endure the rigors of college, but also removes real and perceived barriers to college enrollment and success.

Ruling year info

2014

Executive Director

Shannon Solis Ph.D

Main address

1730 S Federal Hwy Ste 297

Delray Beach, FL 33483 USA

Show more contact info

EIN

45-4916115

Subject area info

Education services

Youth organizing

Population served info

Adolescents

Economically disadvantaged people

Children and youth

NTEE code info

Youth Development Programs (O50)

Educational Services and Schools - Other (B90)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Communication

Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Tutoring and college preparation

Reading/English/Math/Science - ACT and SAT tutoring and test preparation.
Scholarship application assistance
College essay and application preparation support
At no cost to students

Population(s) Served
Adolescents
Economically disadvantaged people

Tutoring classes; college tours; field trips; career exploration; group mentoring. All provided at no cost to students.

Population(s) Served
Adolescents
Economically disadvantaged people

Students are taken on college tours around the state of Florida - all trips are provided at no cost to students.

Population(s) Served
Adolescents
Economically disadvantaged people

Where we work

Awards

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

The purpose of Delray Students First is to provide tutoring to motivated students in preparation for the SAT and ACT exams. This comprehensive program includes life skills such as learning to swim, going on college tours, career planning, and educational and cultural field trips. At Delray Students First, young people are encouraged to return to Delray during their college years to volunteer and to help mentor and tutor DSF students in the summer program.

Financials

Bound For College Inc.
Fiscal year: Jan 01 - Dec 31
Financial documents
2020 Bound For College
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990

151.98

Average of 42.30 over 7 years

Months of cash in 2022 info

SOURCE: IRS Form 990

10.2

Average of 9.2 over 7 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

0%

Average of 5% over 7 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Bound For College Inc.

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

Bound For College Inc.

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

Bound For College Inc.

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of Bound For College Inc.’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2018 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation -$32,165 $105,594 $81,090 $17,651 $78,755
As % of expenses -10.1% 52.2% 31.6% 6.4% 25.8%
Unrestricted surplus (deficit) after depreciation -$32,165 $105,594 $81,090 $17,651 $78,755
As % of expenses -10.1% 52.2% 31.6% 6.4% 25.8%
Revenue composition info
Total revenue (unrestricted & restricted) $245,439 $327,885 $296,647 $351,423 $369,554
Total revenue, % change over prior year 14.7% 33.6% -9.5% 18.5% 5.2%
Program services revenue 0.0% 0.0% 0.0% 0.0% 0.0%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 0.0% 0.1% 0.0% 0.0% 0.0%
Government grants 0.0% 0.0% 0.0% 0.0% 0.0%
All other grants and contributions 100.0% 99.9% 100.0% 100.0% 100.0%
Other revenue 0.0% 0.0% 0.0% 0.0% 0.0%
Expense composition info
Total expenses before depreciation $318,628 $202,367 $256,240 $277,400 $305,429
Total expenses, % change over prior year 18.6% -36.5% 26.6% 8.3% 10.1%
Personnel 22.0% 10.6% 0.0% 13.8% 14.5%
Professional fees 1.8% 26.6% 28.3% 5.3% 2.1%
Occupancy 2.1% 1.6% 0.0% 0.0% 0.0%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 0.0% 0.0% 0.0% 0.0% 0.0%
All other expenses 74.2% 61.1% 71.7% 80.9% 83.3%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $318,628 $202,367 $256,240 $277,400 $305,429
One month of savings $26,552 $16,864 $21,353 $23,117 $25,452
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $0 $0 $0 $0 $0
Total full costs (estimated) $345,180 $219,231 $277,593 $300,517 $330,881

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 2.6 9.6 10.2 12.6 10.2
Months of cash and investments 2.9 9.6 10.2 12.6 10.2
Months of estimated liquid unrestricted net assets 0.8 7.5 10.4 10.4 12.5
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $69,503 $161,398 $216,822 $290,845 $259,297
Investments $7,042 $0 $0 $0 $0
Receivables $10,000 $45,250 $35,249 $35,249 $35,249
Gross land, buildings, equipment (LBE) $0 $0 $0 $0 $0
Accumulated depreciation (as a % of LBE) 0.0% 0.0% 0.0% 0.0% 0.0%
Liabilities (as a % of assets) 0.0% 2.2% 0.0% 0.0% 0.5%
Unrestricted net assets $21,609 $127,203 $222,258 $239,909 $318,664
Temporarily restricted net assets $64,936 N/A N/A N/A N/A
Permanently restricted net assets $0 N/A N/A N/A N/A
Total restricted net assets $64,936 $84,461 $29,813 $86,185 $71,555
Total net assets $86,545 $211,664 $252,071 $326,094 $390,219

Key data checks

Key data checks info 2018 2019 2020 2021 2022
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Form 1023/1024 is not available for this organization

Executive Director

Shannon Solis Ph.D

Dr. Solis was born in Belize and immigrated to Bronx, New York in the early 1980’s. She currently holds a Ed.D. in Reading Education from Nova Southeastern University, a Masters in Educational Leadership from American College of Education, and a Masters in English from SUNY. She has been a National Board-Certified Teacher in Palm Beach County for 21 years, and her leadership experiences in the School District of Palm Beach County have included roles as a Reading Coach, Instructional Specialist, Department Chairperson, Program Coordinator, and Program Director. Dr. Solis also serves as an Adjunct Professor at Palm Beach State College, teaching in the College Readiness Department, and holds the position of President of Palm Beach TESOL, where she fosters professional development and leadership opportunities for English as a Second Language (ESL) professionals. She has been a mentor with Take Stock in Children since 2013, where she coaches, advises, and supports underserved youth, and h

Number of employees

Source: IRS Form 990

Bound For College Inc.

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

Bound For College Inc.

Board of directors
as of 01/21/2024
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Jeff Margolis

Margi Greenfield

Jerilyn Walter

Jeffrey Margolis

Kelley Baum

Michael Hlatki

Raul Valero

Chip Dickson

Cary Glickstein

Leo Ressa

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes

Organizational demographics

SOURCE: Self-reported; last updated 11/10/2021

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
Black/African American
Gender identity
Female

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

No data

Disability

No data

Equity strategies

Last updated: 11/10/2021

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We have community representation at the board level, either on the board itself or through a community advisory board.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.