Project 40 31 INC EIN 27-4203557

Project 40 31 INC

EIN  27-4203557 Public charity (501(c)(3)) Hobbs, NM
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Raises funds through an annual golf tournament and auction for charities supporting the terminally ill, children, and those with special needs.
Leadership
Bridgette Curtis · Board Member
Money in and out
$745K revenue, $768K expenses
Bottom line
96% program efficiency

Raises funds through an annual golf tournament and auction for charities supporting the terminally ill, children, and those with special needs. For fiscal year 2024 it reported $745K in revenue, $768K in expenses, and $41K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$745K
Pt VIII · Ln 12
Total expenses
$768K
Pt IX · Ln 25
Net assets
$41K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$23K
Where spending went · Part IX cols B–D
Program services $0.96 Management & general $0.04
Program efficiency
96%
of spending reaches programs▼ -2% vs prior filing year
Operating runway
0.7mo
months of highly liquid reserves at operating expense rate▼ -36% vs prior filing year
Surplus margin
-3%
revenue over expenses, this year▼ -181% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$745K
FY2024▼ -7%
Expenses
$768K
FY20240%
Total assets
$41K
FY2024▼ -36%
Total liabilities
$0
FY2024
Total revenue
$745K
Pt VIII · Ln 12
Total expenses
$768K
Pt IX · Ln 25
Net assets
$41K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$23K
Total assetsPt X · Ln 16$41K
Program-expense ratioPt IX · col B96%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

1 program service account for $740K of program spending, described in the organization's own filed words · FY2024.
01

The organization held an annual golf tournament to raise funds for the make a wish foundation, habitat for humanity, palmer drug abuse, lovington municipal schools, lovington food coalition, light of lea county, hearts desire, unity recovery solutions, boys and girls club, and other irs approved non-profit organizations.

$740Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProject 40 31 INC
EINHdr · item D27-4203557
Principal addressHdr · item CHobbs, NM
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNM
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P60)
Ruling yearIRS BMFJun 2011

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 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
See Project 40 31 INC executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$545K · 73%
Other revenue$200K · 27%
Contributions & grants73%$545K
Other revenue27%$200K
Total revenueLn 12$745K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.96 Management & general $0.04
Program services96%$740K
Management & general4%$28K
Total functional expensesLn 25$768K

Balance Sheet

Part X · end of year
CashLn 1$41K
Total assetsLn 16$41K
Total liabilitiesLn 26$0
Total net assetsLn 32$41K
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 $41K · Operating expenses (Pt IX) $768K · Less non-cash grants $99K · Cash operating expenses/yr $669K
0.7 months
Where the money goes
Program services
Program services $740K · Total expenses $768K
96%
Management & General
Management & general $28K · Total expenses $768K
4%
Fundraising
Fundraising $0 · Total expenses $768K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $574K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $545K · Total revenue $745K
73%
Government reliance
Government grants — · Total revenue $745K
Earned-income share
Program service revenue $0 · Total revenue $745K
0%
Investment reliance
Investment income $0 · Total revenue $745K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $768K
0%
Growth & trend
Revenue growth (YoY)
This year $745K · Prior year $801K
-7%
Revenue CAGR
FY2020 $184K · FY2024 $745K
+42%
Net-asset trend (YoY)
End of year $41K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $745K · Expenses $768K
-3%
Liabilities-to-Assets
Total liabilities — · Total assets $41K
Net-asset ratio
Net assets $41K · Total assets $41K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $41K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Bridgette Curtis · Reported title BOARD MEMBER · Highest reported compensation $0 · Total expenses $768K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $768K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 96%
Overhead ratio 4%
Fundraising cost ratio 0%
Revenue growth -7%
Accounting fee ratio 3%

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 · FY2023
Total grants receivedfrom 2 funders$7K
Grants paid · 23 grants · $1.7M · 2020–2024
Crosswinds Community ChurchFY2024$40,000
Lovington Municipal School DistrictFY2024$30,000
Light of Lea CountyNM · FY2024$25,000
Unity Recovery INCNM · FY2024$15,000
Hearts Desire INCNM · FY2024$15,000
Option INCNM · FY2024$10,000
Isaiahs Soup Kitchen INCNM · FY2024$10,000
Lovington Food CoalitionNM · FY2024$10,000
Boys & Girls Club of Hobbs INCNM · FY2023$100,000
Lovington Municipal School DistrictFY2023$40,000
Light of Lea CountyNM · FY2023$35,000
See all 23 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)$745K revenue · viewing · ⤓ 990 PDF
FY2023$615K revenue · ⤓ 990 PDF
FY2022$410K revenue · ⤓ 990 PDF
FY2021$184K 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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