Project Undercover INC

Warwick, RI · Public charity (501(c)(3)) · Since 2010 · Human Services

✓ Tax-deductible
Revenue
$339K
+29% vs prior year
Spent
$130K
To programs
87%
Net assets
$1.5M
By yearFY2020–FY2025
Revenue
$339K
FY2025▲ +29%
Revenue by fiscal year
FY2020$261K
FY2021$305K
FY2022−$16K
FY2023$249K
FY2024$262K
FY2025$339K
Expenses
$130K
FY2025▼ -28%
Expenses by fiscal year
FY2020$67K
FY2021$123K
FY2022$118K
FY2023$155K
FY2024$181K
FY2025$130K
Net assets
$1.5M
FY2025▲ +17%
Net assets by fiscal year
FY2020$1.0M
FY2021$1.2M
FY2022$1.1M
FY2023$1.2M
FY2024$1.3M
FY2025$1.5M

From the FY2025 Form 990 · see the original

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Yes — filed FY2025
Legal name (IRS)Hdr · item CProject Undercover INC
EINHdr · item D30-0576681
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFNov 2009
Year of formationHdr · item L2010
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CWarwick, RI
NTEE classificationIRS BMFHuman Services (P40)
WebsiteHdr · item Jwww.projectundercover.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.87 Management & general $0.13
Program services87%$113K
Management & general13%$17K
Total functional expensesLn 25$130K

Financial health

Is it on solid ground?

Program efficiency
87%
of spending reaches programs▼ -2% vs prior filing year
Operating runway
135.9mo
months of highly liquid reserves at operating expense rate▲ +63% vs prior filing year
Surplus margin
+62%
revenue over expenses, this year▲ +100% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Total assets
$1.5M
FY2025▲ +17%
Total assets by fiscal year
FY2020$1.0M
FY2021$1.2M
FY2022$1.1M
FY2023$1.2M
FY2024$1.3M
FY2025$1.5M
Total liabilities
$0
FY2025
Total liabilities by fiscal year
FY2020$0
FY2021$0
FY2022$0
FY2023$0
FY2024$0
FY2025$0
Revenue less expensesPt I · Ln 19$209K
Total assetsPt X · Ln 16$1.5M
Program-expense ratioPt IX · col B87%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 4pending

Balance Sheet

Part X · end of year
CashLn 1$27K
Total assetsLn 16$1.5M
Total liabilitiesLn 26$0
Total net assetsLn 32$1.5M
Months of cash on handcomputed2.5

Statement of Revenue

Part VIII
Investment income$176K · 52%
Contributions & grants$165K · 49%
Investment income52%$176K
Contributions & grants49%$165K
Total revenueLn 12$339K

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.5M · Operating expenses/yr $130K
135.9 months
Where the money goes
Program services
Program services $113K · Total expenses $130K
87%
Management & General
Management & general $17K · Total expenses $130K
13%
Fundraising
Fundraising $0 · Total expenses $130K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $155K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $165K · Total revenue $339K
49%
Government reliance
Government grants — · Total revenue $339K
—
Earned-income share
Program service revenue $0 · Total revenue $339K
0%
Investment reliance
Investment income $176K · Total revenue $339K
+52%
Program self-sufficiency
Program service revenue $0 · Total expenses $130K
0%
Growth & trend
Revenue growth (YoY)
This year $339K · Prior year $262K
+29%
Revenue CAGR
FY2020 $261K · FY2025 $339K
+5%
Net-asset trend (YoY)
End of year $1.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $339K · Expenses $130K
+62%
Liabilities-to-Assets
Total liabilities — · Total assets $1.5M
—
Net-asset ratio
Net assets $1.5M · Total assets $1.5M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.4M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.5M
98%
People & payroll
Highest Reported Total Compensation
Individual Stephanie Wilmarth · Reported title Vice President · Highest reported compensation $0 · Total expenses $130K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $62K · Total expenses $130K
48%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 87%——
Overhead ratio 13%——
Revenue growth 29%——

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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Diane Levalley’s $50K as Executive Director is at the 37th percentile of top reported officer pay among 2168 $100K–1M human services 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.

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Governance & Policies

Part VI
  • 10Voting board membersPt VI · Ln 1a
  • –Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Provides essential underwear, socks, and diapers to children in poverty.

Provided by the organization

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

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Mission & Programs · Part III

Where the work happens

1 program service account for $113K of program spending, described in the organization's own filed words · FY2025.
01

Provided over 1,000,000 items (diapers, socks, underwer, wipes and other) to children and families in need in RI

$113Kprogram 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 · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$20K

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest Viewing $339K$130K+29% 990 PDF
FY2024 $262K$181K+5% 990 PDF
FY2023 $249K$155K×17 990 PDF
FY2022 −$16K$118K-105% 990 PDF
FY2021 $305K$123K+17% 990 PDF
FY2020 $261K$67K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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