Restoration Project INC

EIN 04-3193346 Public charity (501(c)(3)) Belmont, MA

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Size

$100K–1M

What they do

Teaches furniture finishing, upholstering, and retail skills to adults and teens with brain illnesses and injuries.

Leadership

Jean Eloise Newell · President · $60K

Money in and out

$497K revenue, $476K expenses

Bottom line

76% program efficiency

Teaches furniture finishing, upholstering, and retail skills to adults and teens with brain illnesses and injuries. For fiscal year 2024 it reported $497K in revenue, $476K in expenses, and $271K in net assets.Pt I

Where the money goes · FY2024

Total revenue

$497K

Pt VIII · Ln 12

Total expenses

$476K

Pt IX · Ln 25

Net assets

$271K

Pt X · Ln 32

Revenue less expenses (Pt I · Ln 19): $20K

Where spending went · Part IX cols B–D

76%

24%

Program services $0.76 Management & general $0.24

Program efficiency

76%

of spending reaches programs▼ -8% vs prior filing year

Operating runway

70.6mo

months of highly liquid reserves at operating expense rate

Surplus margin

+4%

revenue over expenses, this year▼ -75% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990

Revenue

$497K

FY2024▲ +4%

Expenses

$476K

FY2024▲ +19%

Total assets

$273K

FY2024▲ +4%

Total liabilities

$2K

FY2024▼ -83%

Total revenue

$497K

Pt VIII · Ln 12

Total expenses

$476K

Pt IX · Ln 25

Net assets

$271K

Pt X · Ln 32

Revenue less expensesPt I · Ln 19$20K

Total assetsPt X · Ln 16$273K

Program-expense ratioPt IX · col B76%

Voting members of governing bodyPt I · Ln 34

Independent voting membersPt I · Ln 44

Mission & Programs · Part III

Where the work happens

1 program service account for $361K of program spending, described in the organization's own filed words · FY2024.

The vocational rehabilitation program taught individuals with mental illnesses and brain injuries the crafts of furniture finishing and upholstering, and tasks in retail sales to give them the confidence and transferable work skills they'll need for success in their chosen occupations.

$361Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File

Legal nameHdr · item CRestoration Project INC

EINHdr · item D04-3193346

Principal addressHdr · item CBelmont, MA

WebsiteHdr · item Jwww.restorationproject.org

Year of formationHdr · item Lpending

State of legal domicileHdr · item MMA

Exempt statusHdr · item I501(c)(3) · active

NTEE classificationIRS BMFEmployment (J30)

Ruling yearIRS BMFJun 2024

Governance & Policies

Part VI

Voting members of the governing bodyPt VI · Ln 1a4

Independent voting membersPt VI · Ln 1b4

Conflict-of-interest policyPt VI · Ln 12aNo

Whistleblower policyPt VI · Ln 13No

Document retention policyPt VI · Ln 14No

CEO/top-official compensation independently reviewedPt VI · Ln 15aNo

Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation

Jean Eloise Newell

President

$59,954Pt VII · Sec A

Dan D'Heilly

Secretary

$0Pt VII · Sec A

Gayle Gleason

Board Member

$0Pt VII · Sec A

Rob Vercollone

Board Member

$0Pt VII · Sec A

Brad Conant

Former Board Member

$0Pt VII · Sec A

Jean Eloise Newell’s $60K as President is at the 58th percentile of top reported officer pay among 1212 $100K–1M employment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

Name	FY2024	FY2023
Jean Eloise Newell	$59,954	—
Jean Eloise Newell	—	$57,220

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII

Contributions & grants$464K · 93%

Program service revenue$51K · 10%

Contributions & grants93%$464K

Program service revenue10%$51K

Investment income$2K

Total revenueLn 12$497K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising

Allocation · columns B–D

76%

24%

Program services $0.76 Management & general $0.24

Program services76%$361K

Management & general24%$116K

Total functional expensesLn 25$476K

Balance Sheet

Part X · end of year

CashLn 1$160K

Total assetsLn 16$273K

Total liabilitiesLn 26$2K

Total net assetsLn 32$271K

Months of cash on handcomputed4.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it

Liquidity & Payout

Operating runway

Highly liquid reserves $160K · Operating expenses (Pt IX) $476K · Less non-cash grants $449K · Cash operating expenses/yr $27K

70.6 months

Where the money goes

Program services

Program services $361K · Total expenses $476K

76%

Management & General

Management & general $116K · Total expenses $476K

24%

Fundraising

Fundraising $0 · Total expenses $476K

Cost to raise $1

Fundraising expense (2-yr avg) $124 · Solicited contributions (2-yr avg) $457K

$0.00 to raise $1 (2-yr avg)

Where the money comes from

Contribution dependence

Contributions & grants $464K · Total revenue $497K

93%

Government reliance

Government grants — · Total revenue $497K

—

Earned-income share

Program service revenue $51K · Total revenue $497K

10%

Investment reliance

Investment income $2K · Total revenue $497K

Program self-sufficiency

Program service revenue $51K · Total expenses $476K

11%

Growth & trend

Revenue growth (YoY)

This year $497K · Prior year $478K

+4%

Net-asset trend (YoY)

End of year $271K · Beginning of year —

Beginning net assets not meaningfully positive — showing dollar change

Balance sheet

Surplus Margin

Revenue $497K · Expenses $476K

+4%

Liabilities-to-Assets

Total liabilities — · Total assets $273K

—

Net-asset ratio

Net assets $271K · Total assets $273K

99%

Marketable Investment Share

Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $273K

Excludes program-related investments (Pt X, ln 13)

People & payroll

Highest Reported Total Compensation

Individual Jean Eloise Newell · Reported title PRESIDENT · Highest reported compensation $60K · Total expenses $476K

13%

Personnel share

Salaries, benefits & payroll (Pt IX 5-10) $221K · Total expenses $476K

46%

Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

Metric	This org	Peer median	Percentile
Program ratio	76%	—	—
Overhead ratio	24%	—	—
Fundraising cost ratio	0%	—	—
Revenue growth	4%	—	—
Legal fee ratio	1%	—	—

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record

Grants received · FY2021

Fidelity Investments Charitable Gift FundFY2021$17K

Total grants receivedfrom 1 funder$17K

Similar Organizations

Closest in mission — by what they do

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Filings & Schedule Manifest

Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

FY2024 (Latest)$497K revenue · viewing · ⤓ 990 PDF

FY2023$478K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings

Form 990 e-file (XML) · FY2024IRS

Classification, formation year, addressIRS Business Master File

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