Project Genesis Incorporated FY2024 filing

Tax-deductible

Willimantic, CT501(c)(3)Since 1991EmploymentEIN 06-1328903

Project genesis, INC. Provides individualized support and training throughout connecticut to adults and students with range of disabilities. We believe that each person who desires to live and work in their community can be successful, regardless of the obstacles they face. Our mission is to promote the independence of people with disabilities by empowering them to achieve and sustain their full range of rights and life experiences. Our team is dedicated to meeting each consumer's unique needs and ambitions, empowering them to become more active, productive, and valued members of their communities.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$440K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average deficit $178K a year · 2% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$440K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$498K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.2M
+52% vs prior year
Spent
$7.6M
To programs
88%
Net assets
$10.9M
By yearFY2020–FY2025
Revenue
$8.2M
FY2024▲ +52%
Revenue by fiscal year
FY2020$7.6M
FY2021$8.1M
FY2022$7.0M
FY2023$5.4M
FY2024$8.2M
FY2025$8.6M
Expenses
$7.6M
FY2024-0.1%
Expenses by fiscal year
FY2020$7.6M
FY2021$7.6M
FY2022$7.9M
FY2023$7.6M
FY2024$7.6M
FY2025$7.7M
Net assets
$10.9M
FY2024▲ +10%
Net assets by fiscal year
FY2020$8.5M
FY2021$9.9M
FY2022$9.4M
FY2023$9.9M
FY2024$10.9M
FY2025$12.0M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1992.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $6.7M Management & general 12% · $937K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

10 people listed on the 990; $440K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Chief Executive Officer
$181,019Pt VII · Sec A
$130,893Pt VII · Sec A
Chief Financial Officer
$127,900Pt VII · Sec A
Outgoing Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Kathy Rathan’s $173K as Chief Executive Officer is at the 76th percentile of top reported officer pay among 1245 $1–10M 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 · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Kathy Rathan$172,831$181,019$161,366$175,720$144,273$147,733
Carol Scott$143,628$130,893$123,821$115,402——
Daryl Brown$132,140$127,900$124,132$111,092$105,201$106,292

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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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Empowers adults and students with disabilities through individualized support and training for community independence.

Provided by the organization

This section is blank until Project Genesis Incorporated claims this page.

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1 program service account for $6.7M of program spending, described in the organization's own filed words · FY2023.
01

Funded by the department of aging and disability services (ads), our rise program helps connecticut adults with a wide range of disabilities obtain employment in their chosen field. We provide vocational assessments, evaluations, job development and on-site training to ensure a positive job match and a successful employment outcome.

$6.7Mprogram expense

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By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$8.2M
Ln 12
Fees for servicesLn 2g$7.6M
Investment incomeLn 3$543K
Gifts and grantsLn 1h$39K
Money outPt IX
$7.6M
Ln 25
Programscol B$6.7M
Managementcol C$937K
Owns and owesPt X
$10.9M
net assets · Ln 32
Cash and savingsLn 1–2$3.0M
Total assetsLn 16$11.4M
LiabilitiesLn 26$498K
PeoplePt VI, VII
10
listed · VII A
PaidVII A3
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$39K
Government grantsLn 1e$39K
Fees for servicesLn 2g$7.6M
Investment incomeLn 3$543K
Gains on assetsLn 7$255K
Total revenueLn 12$8.2M
Assets in detailPt X, end of year
CashLn 1$2.8M
SavingsLn 2$214K
Cash and savings togetherLn 1–2$3.0M
InvestmentsLn 11–13$7.4M
Land, buildings, equipmentLn 10c$192K
Other assetsLn 15$0
Total assetsLn 16$11.4M
LiabilitiesLn 26$498K
Net assetsLn 32$10.9M
OperationsPt I, VI
EmployeesI 5342
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$3.0M$3.0M
InvestmentsLn 11–13$6.6M$7.4M
Land, buildings, equipmentLn 10c$199K$192K
Total assetsLn 16$10.5M$11.4M
LiabilitiesLn 26$628K$498K
Net assetsLn 32$9.9M$10.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$328K$299K$29K
Other salaries and wagesLn 7$5.3M$4.8M$494K
Pension plan contributionsLn 8$91K$89K$3K
Other employee benefitsLn 9$803K$780K$23K
Payroll taxesLn 10$419K$380K$39K
Legal feesLn 11b$9K$9K
Accounting feesLn 11c$50K$50K
Investment management feesLn 11f$64K$64K
Other fees for servicesLn 11g$86K$5K$82K
Office expensesLn 13$35K$23K$13K
OccupancyLn 16$138K$53K$86K
TravelLn 17$90K$90K$357
Depreciation, depletion and amortizationLn 22$14K$12K$1K
Other expenses (24a–d)Ln 24$163K$116K$47K
Total functional expensesLn 25$7.6M$6.7M$937K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $8.6M$7.7M$836K$12.0M 990 PDF
FY2024 Viewing $8.2M$7.6M$627K$10.9M 990 PDF
FY2023 $5.4M$7.6M−$2.2M$9.9M 990 PDF
FY2022 $7.0M$7.9M−$923K$9.4M 990 PDF
FY2021 $8.1M$7.6M$514K$9.9M 990 PDF
FY2020 $7.6M$7.6M$63K$8.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $8,221,992 across 6 lines filed
VIII-1e Government grants$39,297
VIII-1h Total contributions, gifts and grants$39,297
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,639,213$7,639,213
VIII-3 Investment incomeExcluded from tax $287,999$287,999
VIII-7 Net gain or loss on sales of assetsExcluded from tax $255,483$255,483
VIII-12 Total revenueRelated to mission $7,639,213 · Unrelated business $0 · Excluded from tax $543,482$8,221,992
Part IX · Statement of functional expenses $7,594,551 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $299,042 · Management $29,101$328,143
IX-7 Other salaries and wagesPrograms $4,811,629 · Management $493,504$5,305,133
IX-8 Pension plan contributionsPrograms $88,582 · Management $2,600$91,182
IX-9 Other employee benefitsPrograms $780,240 · Management $22,897$803,137
IX-10 Payroll taxesPrograms $380,107 · Management $38,848$418,955
IX-11b Legal feesManagement $8,696$8,696
IX-11c Accounting feesManagement $49,805$49,805
IX-11f Investment management feesManagement $63,578$63,578
IX-11g Other fees for servicesPrograms $4,613 · Management $81,693$86,306
IX-13 Office expensesPrograms $22,760 · Management $12,560$35,320
IX-16 OccupancyPrograms $52,601 · Management $85,525$138,126
IX-17 TravelPrograms $89,519 · Management $357$89,876
IX-22 Depreciation, depletion and amortizationPrograms $12,320 · Management $1,264$13,584
IX-24 Other expenses (24a–d)Programs $116,186 · Management $46,524$162,710
IX-25 Total functional expensesPrograms $6,657,599 · Management $936,952 · Fundraising $0$7,594,551
Part X · Balance sheet $11,405,719 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $2,790,376$2,754,582
X-2 Savings and temporary cash investmentsStart of year $221,808$213,841
X-4 Accounts receivableStart of year $671,486$808,218
X-9 Prepaid expenses and deferred chargesStart of year $16,299$10,100
X-10c Land, buildings and equipment, netStart of year $199,254$191,670
X-11 Publicly traded securitiesStart of year $6,604,524$7,427,308
X-15 Other assetsStart of year $3,950$0
X-16 Total assetsStart of year $10,507,697$11,405,719
X-17 Accounts payable and accrued expensesStart of year $628,415$498,439
X-26 Total liabilitiesStart of year $628,415$498,439
X-27 Net assets without donor restrictionsStart of year $9,879,282$10,907,280
X-32 Total net assets or fund balancesStart of year $9,879,282$10,907,280
X-33 Total liabilities and net assetsStart of year $10,507,697$11,405,719
Part XI · Reconciliation of net assets $10,907,280 net assets at year end
XI-1 Total revenue$8,221,992
XI-2 Total expenses$7,594,551
XI-3 Revenue less expenses$627,441
XI-4 Net assets at start of year$9,879,282
XI-5 Net unrealized gains (losses) on investments$400,557
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$10,907,280

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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