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CHARITY REVIEW
Issued: October 2025 Expires: October 2027

Evolve502

Accredited Charity
Accredited Charity

Meets Standards
(502) 409-4011
252 E Market St
Louisville, KY, 40202-1282
https://evolve502.org/
📄 Full Report 🖨️ Print 📋 BBB Charity Standards

Standards For Charity Accountability

Governance

  1. Board Oversight
  2. Board Size
  3. Board Meetings
  4. Board Compensation
  5. Conflict of Interest

Measuring Effectiveness

  1. Effectiveness Policy
  2. Effectiveness Report

Finances

  1. Program Expenses
  2. Fundraising Expenses
  3. Accumulating Funds
  4. Audit Report
  5. Detailed Expense Breakdown
  6. Accurate Expense Reporting
  7. Budget Plan

Fundraising & Info

  1. Truthful Materials
  2. Annual Report
  3. Website Disclosures
  4. Donor Privacy
  5. Cause Marketing Disclosures
  6. Complaints

Evolve502 meets the 20 Standards for Charity Accountability.

Stated Purpose:

Evolve502 is a public-private partnership working to ensure that every child in Louisville is prepared for college, career, and a productive, successful life. It provides the caring, belief, access, and supports each student needs to achieve and succeed, and works to remove and mitigate the systemic barriers of poverty and institutional racism.

It does this work to ensure an educated, growing, and vibrant community where all citizens can prosper and contribute to the economic vitality of the city.

Year, State Incorporated:
2018, KY

Evolve502 knows too many students fall through the gaps and are prevented from considering postsecondary education because they simply don't have the life experience, resources, or access. The organization's goal is to make sure every student has the supports to help them apply and attend college, as well as providing scholarships to ensure students can attend postsecondary institutions tuition-free and graduate debt free.

The Student Success Team begins working with students at JCPS high schools during their junior year, helping students identify a pathway to college. This includes assisting students applying for Evolve502 Scholarships, applying and enrolling in the college of their choice, and assisting them in applying for financial aid. After students graduate, it works directly with postsecondary partners (Kentucky Community and Technical College System and Simmons College of Kentucky) to ensure students receive support as they transition from high school to college to earn degrees, certification, or credentials.

For the year ended December 31, 2023, Evolve502's program expenses were:

Comprehensive Services $2,514,745
Scholarships and Opportunity Grants $1,917,641
Total Program Expenses $4,432,386

Chief Executive
Marland Cole, Executive Director

Chair of the Board
Mr. Jim Allen

Chair's Profession / Business Affiliation
Baird

Board Size
23

Paid Staff Size
18

Method(s) Used:
Grant proposals, Internet

% of Related Contributions on Fundraising: 2.24%

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.

The following information is based on Evolve502's audited financial statements for the year ended December 31, 2023.

Source of Funds
Contributions $5,097,653
Grant income $2,954,200
Investment return, net $1,322,853
Total Income $9,374,706

Programs: 87% Fundraising: 4% Administrative: 10%

Total Income $9,374,706
Total expenses: $5,111,380
  Program expenses $4,432,386
  Fundraising expenses $180,658
  Administrative expenses $498,336
  Other expenses $0
Income in Excess of Expenses $4,263,326
Beginning Net Assets $14,896,276
Other Changes In Net Assets $0
Ending Net Assets $19,159,602
Total Liabilities $1,039,856
Total Assets $20,199,458

Ending net assets as reported above include $5,565,067 without donor restrictions and $13,594,535 with donor restrictions.

An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.

This report is not to be used for fundraising or promotional purposes.

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Report completed by:
BBB serving Greater Kentucky and South Central Indiana