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Project Opportunity INC

Tax-deductible

Bethel, ME501(c)(3)EIN 22-3012835

Provide college scholarships and grants

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 45 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $56K a year · 48% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 12.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$87K
+42% vs prior year
Spent
$74K
To programs
100%
Net assets
$1.3M
By yearFY2020–FY2024
Revenue
$87K
FY2024▲ +42%
Revenue by fiscal year
FY2020$59K
FY2021$148K
FY2022$230K
FY2023$61K
FY2024$87K
Expenses
$74K
FY2024▲ +8%
Expenses by fiscal year
FY2020$46K
FY2021$60K
FY2022$56K
FY2023$69K
FY2024$74K
Net assets
$1.3M
FY2024▲ +9%
Net assets by fiscal year
FY2020$1.2M
FY2021$1.3M
FY2022$1.1M
FY2023$1.2M
FY2024$1.3M

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1990.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $74K

Form 990 Part IX, line 25. Every line is in By the numbers.

Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jamie Miller
Treasurer
$0Pt VII · Sec A
Marilyn Swan
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Project Opportunity INC executive salaries →

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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 15aNo

Programs and updates

Awards college scholarships and grants to students.

Provided by the organization

This section is blank until Project Opportunity INC claims this page.

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1 program service account for $74K of program spending, described in the organization's own filed words · FY2024.
01

Students at telstar regional high school received scholarships and a group of students taking the psat received grants designed to raise aperations.

$74Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 2 grants · $84K · 2022–2024
Unitemized GrantFY2024$48,827
Unitemized GrantFY2022$35,471

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$87K
Ln 12
Investment incomeLn 3$47K
Gifts and grantsLn 1h$41K
Money outPt IX
$74K
Ln 25
Programscol B$74K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$76K
Total assetsLn 16$1.3M
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$41K
Fundraising eventsLn 1c$15K
Investment incomeLn 3$47K
Gains on assetsLn 7$17K
Total revenueLn 12$87K
Assets in detailPt X, end of year
CashLn 1$26K
SavingsLn 2$50K
Cash and savings togetherLn 1–2$76K
InvestmentsLn 11–13$1.2M
Total assetsLn 16$1.3M
LiabilitiesLn 26$0
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 645
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$31K$76K
InvestmentsLn 11–13$1.1M$1.2M
Total assetsLn 16$1.2M$1.3M
LiabilitiesLn 26$170$0
Net assetsLn 32$1.2M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$49K$49K
Management feesLn 11a$8K$8K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$7K$7K
Office expensesLn 13$2K$2K
Other expenses (24a–d)Ln 24$7K$7K
Total functional expensesLn 25$74K$74K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $87K$74K$13K$1.3M 990 PDF
FY2023 $61K$69K−$7K$1.2M 990 PDF
FY2022 $230K$56K$174K$1.1M 990 PDF
FY2021 $148K$60K$88K$1.3M 990 PDF
FY2020 $59K$46K$14K$1.2M 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 $87,375 across 7 lines filed
VIII-1c Fundraising events$14,600
VIII-1f All other contributions, gifts and grants$25,935
VIII-1h Total contributions, gifts and grants$40,535
VIII-3 Investment incomeExcluded from tax $30,228$30,228
VIII-7 Net gain or loss on sales of assetsExcluded from tax $16,612$16,612
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $46,840$87,375
Part IX · Statement of functional expenses $73,957 across 6 lines filed
IX-2 Grants to domestic individualsPrograms $48,827$48,827
IX-11a Management feesPrograms $8,000$8,000
IX-11c Accounting feesPrograms $1,870$1,870
IX-11g Other fees for servicesPrograms $6,777$6,777
IX-13 Office expensesPrograms $1,733$1,733
IX-24 Other expenses (24a–d)Programs $6,750$6,750
IX-25 Total functional expensesPrograms $73,957 · Management $0 · Fundraising $0$73,957
Part X · Balance sheet $1,258,554 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $7,442$25,626
X-2 Savings and temporary cash investmentsStart of year $23,976$50,434
X-13 Program-related investmentsStart of year $1,121,168$1,182,494
X-16 Total assetsStart of year $1,152,586$1,258,554
X-26 Total liabilitiesStart of year $170$0
X-32 Total net assets or fund balancesStart of year $1,152,416$1,258,554
X-33 Total liabilities and net assetsStart of year $1,152,586$1,258,554
Part XI · Reconciliation of net assets $1,258,554 net assets at year end
XI-1 Total revenue$87,375
XI-2 Total expenses$73,957
XI-3 Revenue less expenses$13,418
XI-4 Net assets at start of year$1,152,416
XI-5 Net unrealized gains (losses) on investments$92,719
XI-9 Other changes in net assets$1
XI-10 Net assets at end of year$1,258,554

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

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