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A Better Chance Inc

EIN 23-7173492 · New York, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak28 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

TO INCREASE THE NUMBER OF WELL-EDUCATED YOUNG PEOPLE OF COLOR CAPABLE OF ASSUMING RESPONSIBILITY AND LEADERSHIP ROLES IN AMERICAN SOCIETY.

Income
$3.9 million
Spending
$5.7 million
Spent on programs
68%
Reserves
-8.7 months of spending
Largest source of income
donations and private grants, 73%
Employees
40
Volunteers
21
Highest pay
$336,189, president & ceo

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 28 out of 100.

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    10 of 20

    It owes 49% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 47% of income.

  • Income trend

    10 of 15

    Income fell 1% on the year before.

  • Spending floor

    8 of 15

    68% of spending went to programs and raising each dollar of donations cost 37 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100.

  • Independent board

    25 of 25

    20 of 21 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $3.9 million spent. SINCE 1963, A BETTER CHANCE HAS ACCOMPLISHED ITS MISSION BY NATIONALLY RECRUITING, PLACING AND PROVIDING SUPPORT TO A COMMUNITY OF 1,500 ACADEMICALLY TALENTED YOUTH THROUGH ITS SIGNATURE COLLEGE PREPARATORY SCHOOLS PROGRAM. OUR SUCCESS IS EVIDENT IN THE OVER 20,000ALUMNI WHO HAVE BECOME GREAT INNOVATORS, THINKERS AND LEADERS IN THEIR RESPECTIVE FIELDS. IN 2024, A BETTER CHANCE ACHIEVED 250 PLACEMENTS FROM A POOL OF 455 AND SAW NEARLY 100% OF GRADUATING HS SCHOLARS ENROLLING IN COLLEGE (SEE SCHEDULE O FOR DETAILS).THE ORGANIZATION HOSTED VIRTUAL SCHOOL FAIRS AT WHICH 120 OF OUR 200 MEMBER SCHOOLS PARTICIPATED. AN IN-PERSON MEMBER SCHOOL FAIR WAS HOSTED IN ATLANTA AT WHICH 35 MEMBER SCHOOL PARTICIPATED. THE ORGANIZATION ALSO LED VIRTUAL ADMISSIONS AND FINANCIAL AID WORKSHOPS, VIRTUAL INTERVIEW DAYS AND OUR SIGNATURE SUMMER LEADERSHIP ACADEMY (SLA), WHICH HELPS FAMILIES BETTER NAVIGATE AND UNDERSTAND THE APPLICATION, ACCEPTANCE AND PLACEMENT PROCESS. 103 MIDDLE SCHOOL AND 110 HIGH SCHOOL STUDENTS ACCEPTED BY A BETTER CHANCE FOR PLACEMENT PARTICIPATED IN SLA.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since May 1972.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.