Nonprofit · EIN 83-1877240
EVOLVE502 INC
Tax-exempt · LOUISVILLE, KY 40202
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $6,691,108 | $5,967,527 | $723,581 | $22,677,491 | $1,101,877 | $21,575,614 |
| December 31, 2023 | 990 | $8,256,362 | $5,118,616 | $3,137,746 | $20,199,458 | $1,039,856 | $19,159,602 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $6,381,952
- Program service revenue
- $0
- Investment income
- $309,156
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $1,552,674
- Compensation of officers, directors and key employees
- $176,004
- Other salaries and wages
- $771,372
- Salaries, compensation and benefits (total)
- $1,062,370
- Professional fundraising fees
- $0
- Legal fees
- $33,310
- Accounting fees
- $85,382
- Occupancy
- $15,000
- Travel
- $15,476
- Program services (functional)
- $4,905,588
- Management and general (functional)
- $879,616
- Fundraising (functional)
- $182,323
Balance sheet and other
- Total assets, start of year
- $20,199,458
- Total assets, end of year
- $22,677,491
- Total liabilities, end of year
- $1,101,877
- Net assets, end of year
- $21,575,614
- Publicly traded securities
- $17,378,004
- Net assets without donor restrictions
- $4,121,045
- Net assets with donor restrictions
- $17,454,569
- Gross receipts
- $6,691,108
- Employees
- 16
- Volunteers
- 32
- Year formed
- 2019
- State of legal domicile
- KY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARLAND COLE | EXECUTIVE DIRECTOR Officer | 40 | $170,852 | $5,152 |
| CHARLES DAVIS | DIRECTOR OF PROGRAMMING Highest-paid employee | 40 | $127,600 | $3,828 |
| JOHN GUTHRIE | DIRECTOR OF FUNDRAISING Highest-paid employee | 40 | $106,330 | $3,190 |
| AUDWIN HELTON | CHAIRMAN Trustee or director, Officer | 10 | $0 | $0 |
| MARY NIXON | VICE CHAIR Trustee or director, Officer | 10 | $0 | $0 |
| AMY LINGO | SECRETARY Trustee or director, Officer | 5 | $0 | $0 |
| PEDRO BRYANT | TREASURER Trustee or director, Officer | 10 | $0 | $0 |
| JAMES ALLEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KARINA BARILLAS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT GUNN | DIRECTOR (BEGAN 3/2024) Trustee or director | 1 | $0 | $0 |
| ASHLEY HADLEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR TY HANDY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ALICE HOUSTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARK LAGESTEE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WALTER MALONE JR | DIRECTOR (BEGAN 3/2024) Trustee or director | 1 | $0 | $0 |
20 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LILLY MASSA-MCKINLEY | DIRECTOR (BEGAN 3/2024) Trustee or director | 1 | $0 |
| DR MARTY POLLIO | DIRECTOR Trustee or director | 1 | $0 |
| DIANE PORTER | DIRECTOR Trustee or director | 1 | $0 |
| LYNDON PRYOR | DIRECTOR (BEGAN 3/2024) Trustee or director | 1 | $0 |
| JOE REEVES | DIRECTOR Trustee or director | 1 | $0 |
| CHRISTINE TARQUINIO | DIRECTOR (BEGAN 3/2024) Trustee or director | 1 | $0 |
| MARY GWEN WHEELER | DIRECTOR Trustee or director | 1 | $0 |
| MAYOR CRAIG GREENBERG | DIRECTOR Trustee or director | 1 | $0 |
| LARRY BENZ | DIRECTOR (THRU 3/2024) Trustee or director | 1 | $0 |
| RAYMOND BURSE | DIRECTOR (THRU 3/2024) Trustee or director | 1 | $0 |
| KEVIN COSBY | DIRECTOR (THRU 3/2024) Trustee or director | 1 | $0 |
| SARA DAVASHER-WISDOM | DIRECTOR (THRU 3/2024) Trustee or director | 1 | $0 |
| RYAN DAVIS | DIRECTOR (THRU 3/2024) Trustee or director | 1 | $0 |
| EMILIE DYER | DIRECTOR (THRU 3/2024) Trustee or director | 1 | $0 |
| AMANDA GEHRING | DIRECTOR (THRU 3/2024) Trustee or director | 1 | $0 |
| ADRIA JOHNSON | DIRECTOR (THRU 3/2024) Trustee or director | 1 | $0 |
| TESS MCNAIR | DIRECTOR (THRU 3/2024) Trustee or director | 1 | $0 |
| MASON RUMMEL | DIRECTOR (THRU 3/2024) Trustee or director | 1 | $0 |
| STEVE TARVER | DIRECTOR (THRU 3/2024) Trustee or director | 1 | $0 |
| AARON THOMPSON | DIRECTOR (THRU 3/2024) Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 31 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARLAND COLE | EXECUTIVE DIRECTOR Officer | 50 | $154,961 | $4,254 |
| MARY NIXON | CHAIRMAN Trustee or director, Officer | 10 | $0 | $0 |
| AUDWIN HELTON | VICE CHAIR Trustee or director, Officer | 10 | $0 | $0 |
| ALICE HOUSTON | SECRETARY Trustee or director, Officer | 5 | $0 | $0 |
| DAVID CALZI | TREASURER Trustee or director, Officer | 5 | $0 | $0 |
| JAMES ALLEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KARINA BARILLAS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LARRY BENZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PEDRO BRYANT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RAYMOND BURSE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KEVIN COSBY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SARA DAVASHER-WISDOM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RYAN DAVIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| EMILIE DYER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AMANDA GEHRING | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TONY GEORGES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CRAIG GREENBERG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ASHLEY HADLEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TY HANDY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ADRIA JOHNSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARK LAGESTEE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AMY LINGO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TESS MCNAIR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARTY POLLIO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DIANE PORTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LYNDON PRYOR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOE REEVES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MASON RUMMEL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| STEVE TARVER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AARON THOMPSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARY GWEN WHEELER | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 252 E MARKET ST, LOUISVILLE, KY 40202-1282
- Principal officer (990 for 2024)
- MARLAND COLE, 252 EAST MARKET ST, LOUISVILLE, KY 40202
- Signed the 990
- MARLAND COLE, EXECUTIVE DIRECTOR
- Phone
- (502) 409-4011
- Website
- WWW.EVOLVE502.ORG
- Return prepared by
- CHERRY BEKAERT ADVISORY LLC
Mission
WE WILL PROVIDE THE CARING, BELIEF, ACCESS, AND SUPPORTS EACH STUDENT NEEDS TO ACHIEVE AND SUCCEED AND WILL WORK TO REMOVE AND MITIGATE THE SYSTEMIC BARRIERS OF POVERTY AND INSTITUTIONAL RACISM.
Program accomplishments
- EVOLVE502 WILL CREATE BROAD-SCALE IMPACT BY LEVERAGING THE WORK OF LOUISVILLE'S EXISTING GOVERNMENT, EDUCATION AND SOCIAL SERVICE PARTNERS TO PROVIDE ACCESS TO TOOLS AND RESOURCES FOR STUDENTS AND FAMILIES TO ENSURE ACADEMIC SUCCESS.Expenses $2,739,050
- EVOLVE502 IS RAISING THE FUNDS TO PROVIDE ALL ELIGIBLE JCPS STUDENTS A TWO-YEAR, TUITION FREE OPPORTUNITY TO ATTEND ANY KCTCS COLLEGE, LIKE JEFFERSON OR SIMMONS COLLEGE OF KENTUCKY, STARTING WITH THE CLASS OF 2021 - 2034. THE LOWEST INCOME STUDENTS WILL RECEIVE OPPORTUNITY GRANTS TO COVER THE OTHER COSTS OF ATTENDING COLLEGE (FOOD, HOUSING, COMPUTERS, BOOKS, ETC.). ADDITIONAL RESOURCES ADDED IN 2024 INCLUDE ACCESS TO EMERGENCY FUNDS AND SUCCESS COACHES TO HELP SCHOLARS RETAIN AND SUCCEED.Expenses $2,166,538 · grants $1,552,674
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 83-1877240
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2019
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $22,677,491
- Income (IRS master file)
- $6,691,108
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $6,691,108 | $5,967,527 | $22,677,491 | XML |
| 990 | December 2023 | $8,256,362 | $5,118,616 | $20,199,458 | XML |
| 990 | December 2022 | $4,389,973 | $4,760,951 | $15,607,027 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 83-1877240).
Questions about EVOLVE502 INC
- What is the EIN of EVOLVE502 INC?
- The employer identification number (EIN) of EVOLVE502 INC is 83-1877240.
- Is EVOLVE502 INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2019.
- Are donations to EVOLVE502 INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does EVOLVE502 INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of EVOLVE502 INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did EVOLVE502 INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of EVOLVE502 INC?
- The 990 for the year ended December 31, 2024 names MARLAND COLE.
- Who are the officers and directors of EVOLVE502 INC?
- The 990 for the year ended December 31, 2024 lists 35 people; 3 received compensation from the organization, the highest $170,852 (MARLAND COLE, EXECUTIVE DIRECTOR).
- How much revenue does EVOLVE502 INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $6,691,108, expenses of $5,967,527 and total assets of $22,677,491 at year end.
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