Overview
What is One Million Degrees?
One Million Degrees is a nonprofit organization based in Chicago, Illinois, specifically at 180 N WABASH ST 310. Their primary mission is to empower community college students to progress on their career pathways, ultimately leading to economic mobility. To achieve this goal, they provide last-dollar scholarships to cover tuition expenses, participation-based stipends for educational costs, enrichment grants for one-time expenses, and emergency grants for critical needs. The organization has a team of 57 dedicated individuals working towards this mission.
Official website here: www.onemilliondegrees.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% - Four-Star out of Four Star rating from Charity Navigator.
One Million Degrees has received a strong Four-Star rating from Charity Navigator, reflecting its high accountability and financial health. A score of 94% indicates that the organization is effectively managing its resources and has a majority of independent board members, ensuring transparency and ethical governance. The charity excels in various criteria, including having no material diversion of assets and a very low liabilities to assets ratio, demonstrating strong financial stability.
The organization has a notable program expense ratio of 64.06%, suggesting that it allocates a considerable portion of its budget toward its programs, although there is room for improvement in this area. Its fundraising efficiency is exceptional, with only $0.05 spent to raise a dollar, indicating effective fundraising strategies. Additionally, One Million Degrees maintains comprehensive policies related to conflict of interest, whistleblower protections, and document retention, further enhancing its operational integrity.
While the organization displays a solid financial foundation and governance framework, the program expense ratio may indicate a need for better allocation of resources toward direct programming. Overall, One Million Degrees stands out as a reliable nonprofit committed to transparency and effective use of funds for its mission.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about One Million Degrees?
96% of 41 reviewers on Facebook recommend One Million Degrees. Here's a summary of their reviews:
Many people praise the organization for being a vital resource that opens doors to academic success. Reviewers highlight the exceptional support provided, helping them make strides towards becoming their best scholarly selves. The overall sentiment reflects a deep appreciation for the opportunities and guidance the nonprofit offers to individuals striving for educational advancement.
Overall, it seems that One Million Degrees is making a positive impact, with participants feeling equipped and motivated to achieve their academic goals.
This AI summary has been generated from reviews found on Facebook.
Is One Million Degrees legitimate?
One Million Degrees is a legitimate nonprofit organization registered as a 501(c)(3) entity. One Million Degrees submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $203,216
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,390,359
For more financial information, click here
Official website here: www.onemilliondegrees.org
What is the mission statement of One Million Degrees?
One Million Degrees' mission is centered around accelerating the academic progress of community college students on their career pathways, ultimately leading to economic mobility. To achieve this, the organization provides last-dollar scholarships to cover the gap between financial aid awards and tuition costs. Furthermore, participation-based stipends assist scholars with educational expenses, while enrichment grants are available for additional one-time costs. Additionally, emergency grants can be applied for to meet critical needs of scholars facing significant challenges.
Official website here: www.onemilliondegrees.org
Who is the CEO of One Million Degrees?
Aneesh Sohoni is the Co-Chair Of The Board of One Million Degrees. The CEO's salary of One Million Degrees is $38,301 and their total compensation is $39,443.
Official website here: www.onemilliondegrees.org
What is the revenue of One Million Degrees?
One Million Degrees's revenue in 2022 was $5,175,677.
Official website here: www.onemilliondegrees.org
Who are the executives of One Million Degrees and what are their salaries?
The average compensation at One Million Degrees during 2022 was $45,501. There are 57 employees and 438 volunteers at One Million Degrees.
Here are 26 key members and their salaries (One Million Degrees's CEO's salary is $38,301 and their total compensation is $39,443):
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- Other: $10,506
Official website here: www.onemilliondegrees.org
Where can I find the form 990 for One Million Degrees?
One Million Degrees's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.onemilliondegrees.org
Learn more at the official website: www.onemilliondegrees.org
Mission Statement of One Million Degrees
One Million Degrees, as its name suggests, is an organization dedicated to accelerating the progress of community college students on their career pathways towards economic mobility. Its mission is to provide the necessary support to bridge the financial gap between the financial aid awards of these students and the actual cost of their tuition. This support is not only limited to tuition but also extends to other educational expenses such as books, technology, transportation, and childcare.
Beyond financial aid, One Million Degrees offers participation-based stipends to further assist students in defraying their educational expenses. Enrichment grants are also available by application to support scholars in overcoming one-time costs, including accreditation tests, additional training, organizational dues, and conference fees. In times of major challenges, emergency grants are available to meet critical needs of scholars.
In essence, One Million Degrees is an organization that is committed to empowering community college students by providing them with the necessary financial and educational support to progress on their career pathways and achieve economic mobility.
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Impact
July, 2024
One Million Degrees accelerates community college students' progress on career pathways to economic mobility by providing last-dollar scholarships to cover tuition gaps. Participation-based stipends help with expenses like books, technology, transportation, and childcare, while enrichment grants support additional training and conference fees. Emergency grants address critical needs for scholars facing challenges. Operating in Chicago, IL, One Million Degrees's impact lies in empowering students to overcome financial barriers and achieve their educational and career goals, ultimately fostering economic advancement in the community.
This information is meant to be a general summary of One Million Degrees. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $46,393
- Program Service Revenue: $179,806
- Gross Receipts: $5,292,103
Assets and Liabilities:
- Total Assets: $7,262,880
- Total Liabilities: $951,577
- Net Assets: $6,311,303
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
APPRENTICESHIP PRGM
Revenue
$179,806
Organization Details
Founding Year
2006
Phone
(312) 920-9605Principal Officer
Aneesh Sohoni
Main Address
180 N WABASH ST 310, CHICAGO, IL, 60601
Website
www.onemilliondegrees.orgNTEE Category
Code: B82 - Education
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