Project Prep Olympic Development Program INC EIN 04-3644163

Project Prep Olympic Development Program INC FY2021 filing

EIN  04-3644163 Public charity (501(c)(3)) Bloomington, MN
Form 990 (PDF)
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Size
$100K–1M
What they do
a recreation and sports nonprofit
Leadership
Justin Brown · Director
Money in and out
$603K revenue, $469K expenses
Bottom line
100% program efficiency

Project Prep Olympic Development Program INC is a recreation and sports nonprofit based in Bloomington, MN. For fiscal year 2021 it reported $603K in revenue, $469K in expenses, and $483K in net assets.Pt I

Where the money goes · FY2021
Total revenue
$603K
Pt VIII · Ln 12
Total expenses
$469K
Pt IX · Ln 25
Net assets
$483K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $134K
Where spending went · Part IX cols B–D
Program services $1.00 Management & general $0.00
Program efficiency
100%
of spending reaches programs
Operating runway
12.4mo
months of highly liquid reserves at operating expense rate
Surplus margin
+22%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$603K
FY2021▲ +10%
Expenses
$469K
FY2021▲ +2%
Total assets
$483K
FY2021▲ +38%
Total liabilities
$0
FY2021
Total revenue
$603K
Pt VIII · Ln 12
Total expenses
$469K
Pt IX · Ln 25
Net assets
$483K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$134K
Total assetsPt X · Ln 16$483K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410
Mission & Programs · Part III

Where the work happens

1 program service account for $465K of program spending, described in the organization's own filed words · FY2021.
01

Promote & develop youth hockey.

$465Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProject Prep Olympic Development Program INC
EINHdr · item D04-3644163
Principal addressHdr · item CBloomington, MN
WebsiteHdr · item Jwww.hselitehockey.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFRecreation & Sports (N68)
Ruling yearIRS BMFApr 2003

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
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
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

James Snuggerud’s $35K as Director is at the 49th percentile of top reported officer pay among 1017 $100K–1M recreation & sports 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.

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Statement of Revenue

Part VIII
Contributions & grants$558K · 93%
Program service revenue$44K · 7%
Contributions & grants93%$558K
Program service revenue7%$44K
Total revenueLn 12$603K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00 Management & general $0.00
Program services100%$468K
Management & general$1K
Total functional expensesLn 25$469K

Balance Sheet

Part X · end of year
CashLn 1$483K
Total assetsLn 16$483K
Total liabilitiesLn 26$0
Total net assetsLn 32$483K
Months of cash on handcomputed12.4

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $483K · Operating expenses/yr $469K
12.4 months
Where the money goes
Program services
Program services $468K · Total expenses $469K
100%
Management & General
Management & general $1K · Total expenses $469K
0%
Fundraising
Fundraising $0 · Total expenses $469K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $535K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $558K · Total revenue $603K
93%
Government reliance
Government grants — · Total revenue $603K
Earned-income share
Program service revenue $44K · Total revenue $603K
7%
Investment reliance
Investment income $0 · Total revenue $603K
0%
Program self-sufficiency
Program service revenue $44K · Total expenses $469K
9%
Growth & trend
Revenue growth (YoY)
This year $603K · Prior year $548K
+10%
Net-asset trend (YoY)
End of year $483K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $603K · Expenses $469K
+22%
Liabilities-to-Assets
Total liabilities — · Total assets $483K
Net-asset ratio
Net assets $483K · Total assets $483K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $483K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Justin Brown · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $469K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $469K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Fundraising cost ratio 0%
Revenue growth 10%
Accounting fee ratio 0%

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 · FY2023
Total grants receivedfrom 1 funder$9K

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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
FY2025 (Latest)$292K revenue · ⤓ 990 PDF
FY2024$301K revenue · ⤓ 990 PDF
FY2023$356K revenue · ⤓ 990 PDF
FY2022$651K revenue · ⤓ 990 PDF
FY2021$603K revenue · viewing · ⤓ 990 PDF
FY2020$548K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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