Adventure Project Corp EIN 27-3809595 Form 990 (PDF) Claim this org

Adventure Project Corp

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Funds entrepreneurs in developing countries to create jobs and solve global problems. For fiscal year 2024 it reported $935K in revenue, $593K in expenses, and $67K in net assets.Pt I

Type
Public charity (501(c)(3)) · International
Location
New York, NY
Website
www.theadventureproject.org
Filings
5 on file (2020–2024)
Revenue
$935KFY2024
Expenses
$593K
Net assets
$67K
People
10
Filings
5
Updates
0
More identity details & actions ⌄
EIN  27-3809595 Public charity (501(c)(3)) New York, NY
Form 990 (PDF)
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Size
$100K–1M
What they do
Funds entrepreneurs in developing countries to create jobs and solve global problems.
Leadership
Michael Pelehach · Chief Growth Officer · $130K
Money in and out
$935K revenue, $593K expenses
Bottom line
70% program efficiency
Where the money goes · FY2024
Total revenue
$935K
Pt VIII · Ln 12
Total expenses
$593K
Pt IX · Ln 25
Net assets
$67K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $342K
Where spending went · Part IX cols B–D
Program services $0.70 Management & general $0.16 Fundraising $0.14
Program efficiency
70%
of spending reaches programs▲ +3% vs prior filing year
Operating runway
0.6mo
months of highly liquid reserves at operating expense rate▼ -14% vs prior filing year
Surplus margin
+37%
revenue over expenses, this year▲ +94% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$935K
FY2024▲ +48%
Expenses
$593K
FY2024▲ +16%
Total assets
$362K
FY2024▲ +801%
Total liabilities
$295K
FY2024▼ -6%
Total revenue
$935K
Pt VIII · Ln 12
Total expenses
$593K
Pt IX · Ln 25
Net assets
$67K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$342K
Total assetsPt X · Ln 16$362K
Program-expense ratioPt IX · col B70%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

3 program services account for $123K of program spending, described in the organization's own filed words · FY2023.
01

Climate

approximately 2.3 billion people still cook using open fires or inefficient stoves, with devastating effects on people and the planet. Smoke inhalation from traditional cooking kills 4 million people each year and disproportionately affects women and children living in poverty.

$58Kprogram expense
02

Health

an estimated 5 million children under 5 die every year, mostly from treatable or preventable causes. This year, we helped community health workers in Togo complete 9,125 patient visits with a major focus on pre and post natal care for newborns and expectant moms.

$45Kprogram expense
03

Water

over half of the world's 703 million people who lack basic drinking water live in sub-saharan Africa. As a result more than 250,000 children in sub-saharan Africa die each year because of inadequate water, sanitation, and hygiene.

$20Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CAdventure Project Corp
EINHdr · item D27-3809595
Principal addressHdr · item CNew York, NY
WebsiteHdr · item Jwww.theadventureproject.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFInternational (Q32)
Ruling yearIRS BMFDec 2010

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
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 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Chief Growth Officer
$130,000Pt VII · Sec A
Executive Director
$70,000Pt VII · Sec A
Director
$4,280Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Michael Pelehach$130,000$130,000
Michael Pelehach$127,292
Terri Nicole Yates$95,423
Rebecca Straw$70,000$74,621$83,876
Rebecca Straw$72,353$83,333
Terri Nicole Yates$66,305
Jody Landers$4,280
Jody Landers$1,776

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 & grants100%$931K
Investment income$11
Other revenue$3K
Total revenueLn 12$935K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.70 Management & general $0.16 Fundraising $0.14
Program services70%$414K
Management & general16%$95K
Fundraising14%$84K
Total functional expensesLn 25$593K

Balance Sheet

Part X · end of year
CashLn 1$30K
Total assetsLn 16$362K
Total liabilitiesLn 26$295K
Total net assetsLn 32$67K
Months of cash on handcomputed0.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $30K · Operating expenses/yr $593K
0.6 months
Where the money goes
Program services
Program services $414K · Total expenses $593K
70%
Management & General
Management & general $95K · Total expenses $593K
16%
Fundraising
Fundraising $84K · Total expenses $593K
14%
Cost to raise $1
Fundraising expense (3-yr avg) $110K · Solicited contributions (3-yr avg) $713K
$0.15 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $931K · Total revenue $935K
100%
Government reliance
Government grants — · Total revenue $935K
Earned-income share
Program service revenue $0 · Total revenue $935K
0%
Investment reliance
Investment income $11 · Total revenue $935K
<0.01%
Program self-sufficiency
Program service revenue $0 · Total expenses $593K
0%
Growth & trend
Revenue growth (YoY)
This year $935K · Prior year $630K
+48%
Revenue CAGR
FY2019 $522K · FY2023 $935K
+16%
Net-asset trend (YoY)
End of year $67K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $935K · Expenses $593K
+37%
Liabilities-to-Assets
Total liabilities — · Total assets $362K
Net-asset ratio
Net assets $67K · Total assets $362K
19%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $362K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Michael Pelehach · Reported title CHIEF GROWTH OFFICER · Highest reported compensation $130K · Total expenses $593K
22%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $229K · Total expenses $593K
39%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 70%
Overhead ratio 16%
Fundraising cost ratio 9%
Revenue growth 48%
Legal fee ratio 0.10%
Accounting fee ratio 4%

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 · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$7K
Grants paid · 41 grants · $1.8M · 2019–2023
Integrate Health INCNC · FY2023$95,000
Saha Global INCNY · FY2023$72,594
Kickstart International INCCA · FY2023$25,000
Living GoodsCA · FY2023$10,000
Integrate Health INCNC · FY2022$45,000
Saha Global INCNY · FY2022$22,594
Integrate Health INCNC · FY2021$100,000
Mukuru Clean StovesFY2021$85,000
Saha Global INCNY · FY2021$75,000
Kickstart International INCCA · FY2021$75,000
Living GoodsCA · FY2021$50,000
Saha Global INCNY · FY2020$100,000
Saha Global INCNY · FY2020$100,000
Saha Global INCNY · FY2020$100,000
Integrate Health INCNC · FY2020$50,018
Integrate Health INCNC · FY2020$50,018
Integrate Health INCNC · FY2020$50,018
Yamba Malawi INCNY · FY2020$50,000
See all 41 grants →

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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)$935K revenue · viewing · ⤓ 990 PDF
FY2023$630K revenue · ⤓ 990 PDF
FY2022$589K revenue · ⤓ 990 PDF
FY2021$695K revenue · ⤓ 990 PDF
FY2020$522K 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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