Project Connect INC EIN 27-4003340 Form 990 (PDF) Claim this org

Project Connect INC FY2022 filing

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Connects people in poverty with faith communities to build supportive relationships. For fiscal year 2022 it reported $972K in revenue, $856K in expenses, and $478K in net assets.Pt I

Type
Public charity (501(c)(3)) · International
Location
Madison, TN
Website
projectconnectnashville.org
Filings
5 on file (2020–2022)
Revenue
$972KFY2022
Expenses
$856K
Net assets
$478K
People
10
Filings
5
Updates
0
More identity details & actions ⌄
EIN  27-4003340 Public charity (501(c)(3)) Madison, TN
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Connects people in poverty with faith communities to build supportive relationships.
Leadership
Stuart Spears · Executive Director (eff 5/14/22) · $75K
Money in and out
$972K revenue, $856K expenses
Where the money goes · FY2022
Total revenue
$972K
Pt VIII · Ln 12
Total expenses
$856K
Pt IX · Ln 25
Net assets
$478K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $116K
Where spending went · Part IX cols B–D
Program services $0.62 Management & general $0.23 Fundraising $0.15

Summary of the Filing

Part I · fiscal year 2022 · Form 990-T
Revenue
$972K
FY2022▼ -37%
Expenses
$856K
FY2022▼ -42%
Total assets
$1.0M
FY2022▲ +11%
Total liabilities
$562K
FY2022▼ -2%
Total revenue
$972K
Pt VIII · Ln 12
Total expenses
$856K
Pt IX · Ln 25
Net assets
$478K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$116K
Total assetsPt X · Ln 16$1.0M
Program-expense ratioPt IX · col B62%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

1 program service account for $533K of program spending, described in the organization's own filed words · FY2022.
01

Provided assistance to vulnerable men, women, and their families, including (1) grants for emergency assistance, (2) education programs to equip individuals with skills needed to break the poverty cycle, and (3) projects to help the community.

$533Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProject Connect INC
EINHdr · item D27-4003340
Principal addressHdr · item CMadison, TN
WebsiteHdr · item Jprojectconnectnashville.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MTN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFInternational (Q33)
Ruling yearIRS BMFApr 2012

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aYes
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
Executive Director (eff 5/14/22)
$75,462Pt VII · Sec A
Interim Executive Director (thru 5/23/22)
$28,293Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Jeff Darnell’s $77K as President (thru 10/2024) is at the 69th percentile of top reported officer pay among 1637 $100K–1M international 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 · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Stuart Spears$110,923$75,462
Jeff Darnell$77,366$7,500
Alan Murdock$59,522$70,520
Zach Bevill$28,293$60,724

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%$968K
Other revenue$4K
Total revenueLn 12$972K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.62 Management & general $0.23 Fundraising $0.15
Program services62%$533K
Management & general23%$193K
Fundraising15%$130K
Total functional expensesLn 25$856K

Balance Sheet

Part X · end of year
CashLn 1$379K
Total assetsLn 16$1.0M
Total liabilitiesLn 26$562K
Total net assetsLn 32$478K
Months of cash on handcomputed5.3

Grants

Schedule I · received and paid
Grants received · FY2023
See all 4 funders →
Grants paid · 5 grants · $958K · 2020–2024
Unitemized GrantFY2024$24,168
Unitemized GrantFY2023$88,012
Unitemized GrantFY2022$152,742
Unitemized GrantFY2021$364,538
Unitemized GrantFY2020$328,601

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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)$492K revenue · ⤓ 990 PDF
FY2023$700K revenue · ⤓ 990 PDF
FY2022$972K revenue · viewing · ⤓ 990 PDF
FY2021$1.6M revenue · ⤓ 990 PDF
FY2020$1.4M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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