Mission: REACH Prep provides access to transformative educational experiences that empower underserved students to graduate from college and emerge as the next generation of  ... (More)

REACH Prep is a 501(c)(3) organization, with an IRS ruling year of 1996, and donations are tax-deductible.

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Contact Information

  http://www.reachprep.org

  One Dock Street
Suite 100
Stamford CT 06902 

  203-487-0750


 Important note on the timeliness of ratings

The IRS is significantly delayed in processing nonprofits' annual tax filings (Forms 990). As a result, the Financial and Accountability & Transparency score for REACH Prep is outdated and the overall rating may not be representative of its current operations. Please check with the charity directly for any questions you may have.

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Star Rating System by Charity Navigator


Charity Navigator evaluates a nonprofit organization’s financial health including measures of stability, efficiency and sustainability. We also track accountability and transparency policies to ensure the good governance and integrity of the organization.




Exceptional

This charity's score is 95.05, earning it a 4-Star rating. Donors can "Give with Confidence" to this charity. 

This score is calculated from two sub-scores:

This score represents Form 990 data from 2019, the latest year published by the IRS. 

View this organization’s historical ratings.


Back to Overall

Star Rated Report

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Program Expense

Program Expense Ratio

85.3%


The Program Expense Ratio is determined by Program Expenses divided by Total Expense (average of most recent three 990s).


This measure reflects the percent of its total expenses a charity spends on the programs and services it exists to deliver. Dividing a charity's average program expenses by its average total functional expenses yields this percentage. We calculate the charity's average expenses over its three most recent fiscal years.


Source: IRS Form 990

Administrative Expenses

6.9%


As reported by charities on their IRS Form 990, this measure reflects what percent of its total budget a charity spends on overhead, administrative staff and associated costs, and organizational meetings. Dividing a charity's average administrative expenses by its average total functional expenses yields this percentage. We calculate the charity's average expenses over its three most recent fiscal years.


Source: IRS Form 990

Fundraising Expenses

7.7%


This measure reflects what a charity spends to raise money. Fundraising expenses can include campaign printing, publicity, mailing, and staffing and costs incurred in soliciting donations, memberships, and grants. Dividing a charity's average fundraising expenses by its average total functional expenses yields this percentage. We calculate the charity's average expenses over its three most recent fiscal years.


Source: IRS Form 990

Liabilities to Assets Ratio

2.1%


The Liabilities to Assets Ratio is determined by Total Liabilities divided by Total Assets (most recent 990).


Part of our goal in rating the financial performance of charities is to help donors assess the financial capacity and sustainability of a charity. As do organizations in other sectors, charities must be mindful of their management of total liabilites in relation to their total assets. This ratio is an indicator of an organization’s solvency and or long term sustainability. Dividing a charity's total liabilities by its total assets yields this percentage.


Source: IRS Form 990

Fundraising Efficiency

$0.07


The amount spent to raise $1 in charitable contributions. To calculate a charity's fundraising efficiency, we divide its average fundraising expenses by the average total contributions it receives. We calculate the charity's average expenses and average contributions over its three most recent fiscal years.


Source: IRS Form 990

Working Capital Ratio

2.43 years


Determines how long a charity could sustain its level of spending using its net available assets, or working capital, as reported on its most recently filed Form 990. We include in a charity's working capital unrestricted and temporarily restricted net assets, and exclude permanently restricted net assets. Dividing these net available assets in the most recent year by a charity's average total expenses, yields the working capital ratio. We calculate the charity's average total expenses over its three most recent fiscal years.


Source: IRS Form 990

Program Expense Growth

16.39%


We compute the average annual growth of program expenses using the following formula: [(Yn/Y0)(1/n)]-1, where Y0 is a charity's program expenses in the first year of the interval analyzed, Yn is the charity's program expenses in the most recent year, and n is the interval of years passed between Y0 and Yn.


Source: IRS Form 990

Governance


Charity Navigator looks to confirm on the Form 990 that the organization has these governance practices in place.


Sources Include: IRS Form 990

Governance:
Independent Voting Board Members  ... (More)
No Material Diversion of Assets ... (More)

A diversion of assets – any unauthorized conversion or use of the organization's assets other than for the organization's authorized purposes, including but not limited to embezzlement or theft – can seriously call into question a charity's financial integrity. We check the charity's last two Forms 990 to see if the charity has reported any diversion of assets. If the charity does report a diversion, then we check to see if it complied with the Form 990 instructions by describing what happened and its corrective action. This metric will be assigned to one of the following categories:

  • Full Credit: There has been no diversion of assets within the last two years.

  • Partial Credit: There has been a diversion of assets within the last two years and the charity has used Schedule O on the Form 990 to explain: the nature of the diversion, the amount of money or property involved and the corrective action taken to address the matter. In this situation, we deduct 7 points from the charity's Accountability and Transparency score.
  • No Credit: There has been a diversion of assets within the last two years and the charity's explanation on Schedule O is either non-existent or not sufficient. In this case, we deduct 15 points from the charity's Accountability and Transparency score.
(Less)
Audited Financials Prepared by Independent Accountant ... (More)

Audited financial statements provide important information about financial accountability and accuracy. They should be prepared by an independent accountant with oversight from an audit committee. (It is not necessary that the audit committee be a separate committee. Often at smaller charities, it falls within the responsibilities of the finance committee or the executive committee.) The committee provides an important oversight layer between the management of the organization, which is responsible for the financial information reported, and the independent accountant, who reviews the financials and issues an opinion based on its findings. We check the charity's Form 990 reporting to see if it meets this criteria.

  • Full Credit: The charity's audited financials were prepared by an independent accountant with an audit oversight committee.

  • Partial Credit: The charity's audited financials were prepared by an independent accountant, but it did not have an audit oversight committee. In this case, we deduct 7 points from the charity's Accountability and Transparency score.
  • No Credit: The charity did not have its audited financials prepared by an independent accountant. In this case, we deduct 15 points from the charity's Accountability and Transparency score.
(Less)
Does Not Provide Loan(s) to or Receive Loan(s) From Related Parties ... (More)
Documents Board Meeting Minutes ... (More)
Distributes 990 to Board Before Filing ... (More)
Compensates Board ... (More)

Policies


Charity Navigator looks to confirm on the Form 990, or for some metrics on the charity's website, that the organization has these policies in place.


Sources Include: IRS Form 990 and organization's website

Policies:
Conflict of Interest  ... (More)
Whistleblower ... (More)
Records Retention and Destruction ... (More)
CEO Compensation Process ... (More)
Donor Privacy ... (More)

Donors can be reluctant to contribute to a charity when their name, address, or other basic information may become part of donor lists that are exchanged or sold, resulting in an influx of charitable solicitations from other organizations. Our analysts check the charity's website to see if the organization has a donor privacy policy in place and what it does and does not cover. Privacy policies are assigned to one of the following categories:

  • Yes: This charity has a written donor privacy policy published on its website, which states unambiguously that (1) it will not share or sell a donor's personal information with anyone else, nor send donor mailings on behalf of other organizations or (2) it will only share or sell personal information once the donor has given the charity specific permission to do so.

  • Opt-out: The charity has a written privacy policy published on its website which enables donors to tell the charity to remove their names and contact information from lists the charity shares or sells. How a donor can have themselves removed from a list differs from one charity to the next, but any and all opt-out policies require donors to take specific action to protect their privacy.
  • No: This charity either does not have a written donor privacy policy in place to protect their contributors' personal information, or the existing policy does not meet our criteria.

The privacy policy must be specific to donor information. A general website policy which references "visitor" or "user" personal information will not suffice. A policy that refers to donor information collected on the website is also not sufficient as the policy must be comprehensive and applicable to both online and offline donors. The existence of a privacy policy of any type does not prohibit the charity itself from contacting the donor for informational, educational, or solicitation purposes.

(Less)

Transparency


Charity Navigator looks to confirm on the Form 990, or for some metrics on the charity's website, that the organization makes this information easily accessible.


Sources Include: IRS Form 990 and organization's website

Transparency:
CEO Salary Listed on 990 ... (More)
Board of Directors Listed on Website ... (More)
Key Staff Listed on Website ... (More)
Audited Financial Statements on Website ... (More)
Form 990 Available on Website ... (More)

Additional Information

Unscored

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Total Revenue and Expenses

Total Revenue and Expenses

This chart displays the trend of revenue and expenses over the past several years for this organization, as reported on their IRS Form 990.

Salary of Key Persons

Presented here are this organizations key compensated staff members as identified by our analysts. This compensation data includes salary, cash bonuses and expense accounts and is displayed exactly how it is reported to the IRS. The amounts do not include nontaxable benefits, deferred compensation, or other amounts not reported on Form W-2. In some cases, these amounts may include compensation from related organizations. Read the IRS policies for compensation reporting



Gina Lucas, Chief Executive Officer

$155,185 (7.48% of Total Expenses)


Current CEO and Board Chair can be found in the Leadership & Adaptability report below.

Source: IRS Form 990 (page 7), filing year 2020

Business Master File Data

Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. Learn more about the BMF on the IRS website


Activities:

Described in section 170(b)1)(a)(vi) of the Code (BMF activity code: 994)

Other school related activities (BMF activity code: 059)


Foundation Status:

Organization which receives a substantial part of its support from a governmental unit or the general public   170(b)(1)(A)(vi) (BMF foundation code: 15)


Affiliation:

Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations). (BMF affiliation code: 3)

Data Sources: IRS Forms 990

The Form 990 is a document that nonprofit organizations file with the IRS annually. We leverage finance and accountability data from it to form Encompass ratings. Click here to view this organization's Forms 990 on the IRS website (if any are available).

Pandemic Response

Due to the unprecedented nature of the pandemic, we give charities such as this one the opportunity to share the story of COVID's impact on them. Charities may submit their own pandemic responses through their nonprofit portal.


REACH Prep reported being impacted by COVID-19 in the following ways:
  • Program Delivery

  • Fundraising Capacity


How COVID-19 impacted the organization's operations financially:

We were unable to host key and planned fundraising events, including a signature annual event in April 2020 and a 2nd annual Junior Council event in June 2020. We applied for and received Round 1 and Round 2 PPP Loans to help cover some of the lost revenue due to not having these expected fundraising events. The PPP loans have been forgiven in full. We were able to maintain staff and faculty while working remotely, and we never stopped operations.


How COVID-19 impacted the organization's delivery of programs:

We normally conduct in-person programming with students and parents. COVID-19 required us to transition to remote, hybrid, socially distanced and/or virtual activities and engagement to keep program delivery going and consistent across all phases of our continuum. We were not able to offer in-person activities including summer academic classes, field trips, college trips, or campus visits as we normally would have, but we transitioned to offering all academic support, programming opportunities and guidance online. The summer of 2020 was the first time in the organization's history where our signature academic preparation program was not in-person. Despite this, the entire program ran its normal schedule because of the free technology and robust support we provide to students.


How this organization adapted to changing conditions caused by COVID-19:

We incorporated and/or heavily utilized technologies (Zoom, Teams, SharePoint, Google Classroom and Salesforce) as a team and with programming to ensure no drop in quality or quantity of services and programming for our students, even if they had to be temporarily virtual or hybrid. Overall, we closely monitored the changing and emergency needs of our students and families and determined how the organization would need to pivot to provide timely and comprehensive support while still adhering to our mission and goals. Staff developed new program ideas to connect students and parents to mitigate the feelings of isolation and we also developed new academic opportunities to help students fill gaps that may have been exacerbated by schools dealing with COVID-19. The Board and staff also developed new fundraising event ideas to help fill the gap caused by not being able to have large signature/traditional fundraising events in person.


Innovations the organization intends to continue permanently after the pandemic:

We use Zoom more with students and families and it has created more accessibility, availability and engagement. We certainly intend to have the most in-person programming as possible, but Zoom is an added resource that helps us communicate without sacrificing face-to-face contact, which we need for the nature of our mission. As an example, we implemented virtual admissions information sessions that will stay beyond the pandemic and complement in-person sessions. We also use Salesforce in a more comprehensive way for development and program purposes that we will keep post-pandemic. Paper usage has been reduced, more functionality has been explored and achieved, time has been saved, and data tracking is more streamlined. We are excited to keep these innovations as integral parts of our overall effort to work closely, supportively and effectively with our students and families.


Historical Ratings

Date PublishedForm 990 FYEOverall ScoreOverall Rating
Rating Version: 2.1
2/1/20212019 95.05
11/1/20192018 94.30
8/1/20182017 90.71
7/1/20172016 87.97
7/1/20162015 86.20
6/1/20162014 86.12
Rating Version: 2.0
3/1/20162014 78.23

Previous: Finance & Accountability  / Next: Leadership & Adaptability

...   Impact & Results


This score estimates the actual impact a nonprofit has on the lives of those it serves, and determines whether it is making good use of donor resources to achieve that impact.


Impact & Results Score

Not Currently Scored

REACH Prep cannot currently be evaluated by our Encompass Rating Impact & Results methodology because either (A) it is eligible, but we have not yet received data; (B) we have not yet developed an algorithm to estimate its programmatic impact; (C) its programs are not direct services; or (D) it is not heavily reliant on contributions from individual donors.

Note: The absence of a score does not indicate a positive or negative assessment, it only indicates that we have not yet evaluated the organization.

Learn more about Impact & Results.


Back to Overall

Additional Information

Unscored

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Largest Programs

Largest Programs



REACH Prep reported its three largest programs on its FY 2019 Form 990 as:


$1,210,618

Spent in most recent FY

68%

Percent of program expenses


Middle School, High School, and College Support Program


$409,050

Spent in most recent FY

23%

Percent of program expenses


Prep Academy and Placement Support Program


$145,991

Spent in most recent FY

8%

Percent of program expenses


Summer Enrichment Opportunities Program


Previous: Impact & Results  / Next: Culture & Community

...   Leadership & Adaptability


This score provides an assessment of the organization's leadership capacity, strategic thinking and planning, and ability to innovate or respond to changes in constituent demand/need or other relevant social and economic conditions to achieve the organization's mission.


Leadership & Adaptability Score

100

out of 100

The score earned by REACH Prep is a passing score. This score has no effect on the organization's Star Rating.

Encompass Rating V4 provides an evaluation of the organization's Leadership & Adaptability through the nonprofit organization submitting a survey response directly to Charity Navigator.


Back to Overall

Leadership & Adaptability Report

100

of 100 points

Mission

The nonprofit organization presents evidence of strategic thinking through articulating the organization’s mission


REACH Prep's mission is to provide access to transformative educational experiences that empower underserved, high-achieving students to graduate from top colleges and emerge as the next generation of leaders.


Source: Nonprofit submitted responses

Vision

The nonprofit organization presents evidence of strategic thinking through articulating the organization’s vision.


REACH Prep will be a nationally-known and preferred educational access program providing underserved Black and Latinx students and families an unparalleled network of advocacy, support, and life-changing opportunities.


Source: Nonprofit submitted responses

Strategic Goals

The nonprofit organization presents evidence of strategic thinking and goal setting through sharing their most important strategic goals.


Goal One: Scholars and families have access to the knowledge, resources, and guidance necessary for Scholars to persist on their educational journeys and be prepared for a global society.

Goal Type: Focus on core programs to achieve mission and scale back on programs not seen as core.


Goal Two: REACH Prep graduates are a part of a strong peer network of emerging leaders and actively engaged alumni.

Goal Type: Grow, expand, scale or increase access to the existing programs and services.


Goal Three: REACH Prep educational, funding, and community partnerships are growing in effectiveness and numbers.

Goal Type: Grow, expand, scale or increase access to the existing programs and services.


Source: Nonprofit submitted responses

Leadership Development

The nonprofit provides evidence of investment in leadership development


Describe an investment in leadership

REACH Prep offers access to and strongly encourages participation in professional and leadership development opportunities. Staff are encouraged to suggest program or issue specific workshops, conferences, trainings, or courses to help further their leadership within the organization and as informed professionals in the educational access and college success field. REACH Prep staff attend relevant annual conferences such as the People of Color Conference via the National Association of Independent Schools and the National Partnership for Educational Access Annual Conference. Additionally and as another example, two staff members have completed executive education programs for nonprofit leaders at Columbia Business School. Whether it be a one-day workshop or a series of trainings, staff are expected to and supported in finding ways to build their expertise, skills, knowledge and interests in this field. As an educational nonprofit, we place a high value on supporting staff in this way.

Source: Nonprofit submitted responses

Mobilizing for Mission

The nonprofit provides evidence of leadership through focusing externally and mobilizing resources for the mission.


This organization mobilizes for mission in the following ways:
  • Strategic Partnerships

  • Raising Awareness

What are this organization’s external mobilizaton efforts?

REACH Prep knows that building and sustaining relationships with external supporters, organizations, and funders is essential to the short-and long-term impact of our efforts to fulfill our mission. As such, we work with longstanding partners and consistently seek new ones to ensure that we can attract and recruit eligible students and families, provide the strongest academic preparation and guidance, identify new opportunities, and connect students to programming that will help them succeed in and out of the classroom on their way to college graduation. We also regularly utilize social media to share updates about our Scholars and the organization's ongoing or new activities. This provides qualitative and quantitative examples of our efforts to effectively support and guide our students and demonstrates our unwavering commitment to educational access and college success in our region.

Source: Nonprofit submitted responses

Story of Adaptability

The nonprofit has an opportunity to tell the story of how the organization adapted to tremendous external changes in the last year.


REACH Prep adapted to external changes related to the pandemic by pivoting to online programming and enhancing or creating new activities to respond to students' emerging academic and social-emotional needs. This was accomplished while also not sacrificing program quality or shared expectations of what was needed for and by our students. REACH Prep was designed to offer and provide customized and consistent support for students. We had to adapt over the last year with doing more of that work online than ever before, but that also provided an opportunity to see where we could identify new ways for engagement where transportation, or lack thereof, played no role. The last year also presented a chance, and a need, to explore and tap into other online program/student opportunities (summer, academic, college guidance or early career) that may have not have been as accessible or affordable for our students pre-pandemic. Additionally, REACH Prep had to adapt to working even more closely with families on changing circumstances and unexpected needs. While we are not a social service organization, it was essential that we understood and worked with families as they navigated the economic, health, mental health, work and housing issues that emerged as a result of the pandemic.

Source: Nonprofit submitted responses

Additional Information

Unscored

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Organization Leadership

Organization Leadership


Gina Lucas

Chief Executive Officer

Paul L. Triggiani

Chair

Previous: Leadership & Adaptability

...   Culture & Community


This score provides an assessment of the organization's culture and connectedness to the community it serves. Learn more about how and why we rate Culture & Community.


Culture & Community Score

Not Currently Scored

REACH Prep is currently not eligible for a Culture & Community score because we have not received its Constituent Feedback or Diversity, Equity, & Inclusion data. Nonprofit organizations are encouraged to fill out the How We Listen and Equity Practices sections of their Candid profile.

Note: The absence of a score does not indicate a positive or negative assessment, it only indicates that we have not yet evaluated the organization.


Back to Overall

Culture & Community Report

Unscored

This beta feature is currently viewable only on desktop or tablet screens. Check back later for updates.

Constituent Feedback

Diversity, Equity, & Inclusion


This organization has not provided information regarding the diversity, equity and inclusion (DEI) practices it is presently implementing. As such, the organization has not earned a score on this metric. Charity Navigator believes nonprofit organizations implementing effective DEI policies and practices can enhance a nonprofit's decision-making, staff motivation, innovation, and effectiveness.


Methodology


We are utilizing data collected by Candid to document and assess the DEI practices implemented by the organization. Nonprofit organizations are encouraged to fill out the Equity Strategies section of their Candid profiles to receive a rating.


Learn more about the methodology.

Constituent Feedback


Constituent Feedback and Listening Practice data are not available for this organization. Charity Navigator believes nonprofit organizations that engage in inclusive practices, such as collecting feedback from the people and communities they serve, may be more effective.



Methodology


We've partnered with Candid to survey organizations about their feedback practices. Nonprofit organizations can fill out the How We Listen section of their Candid profile to receive a rating.


Learn more about the methodology.

Analysis and Research


Like the overall Encompass Rating System, the Culture & Community Beacon is designed to evolve as metrics are developed and ready for integration. Below you can find more information about the metrics we currently evaluate in this beacon and their relevance to nonprofit performance.


Constituent Feedback


Diversity, Equity, and Inclusion

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