Kula Project INC FY2024 filing

Tax-deductible

Lynchburg, VA501(c)(3)Since 2012EnvironmentEIN 45-5273875

Kula exists to eradicate poverty through the development of entrepreneurs in Rwanda's coffee communities. We operate at the intersection of economic development, environmental sustainability, and gender equality, providing a poverty (continued on Schedule O) graduation model that joins regenerative agriculture support with entrepreneurial development and business coaching, empowering coffee farmers to increase their household income and move out of extreme poverty and into a life of prosperity, vision, agency, and hope.

501(c)(3) charity; gifts are tax-deductible.
66¢ of each $1 spent went to programs.
$92K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $38K a year · 5% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
66%
of spending
Fine: 66% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$92K
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $12K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$5K
0.9% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
+61% vs prior year
Spent
$874K
To programs
66%
Net assets
$553K
By yearFY2020–FY2025
Revenue
$1.0M
FY2024▲ +61%
Revenue by fiscal year
FY2020$776K
FY2021$916K
FY2022$900K
FY2023$623K
FY2024$1.0M
FY2025$703K
Expenses
$874K
FY2024▲ +14%
Expenses by fiscal year
FY2020$644K
FY2021$749K
FY2022$829K
FY2023$768K
FY2024$874K
FY2025$828K
Net assets
$553K
FY2024▲ +37%
Net assets by fiscal year
FY2020$273K
FY2021$439K
FY2022$547K
FY2023$404K
FY2024$553K
FY2025$435K

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 2013.

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

Where the money goes

66 cents of each dollar spent went to programs.

Program services 66% · $578K Management & general 16% · $140K Fundraising 18% · $156K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

4 people listed on the 990; $92K paid to officers and key staff.

Part VII, Section A · reportable compensation
Board Chair and Executive Director
$92,250Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Nicholas Lauten’s $96K as Board Chair and Executive Director is at the 77th percentile of top reported officer pay among 1989 $100K–1M environment 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Nicholas Lauten$96,000—————
Nic Lauten—$92,250$89,714$67,410——
Sarah Buchanan-Sasson———$80,000——
Sarah Buchanan————$76,031$49,615

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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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 15aYes

Programs and updates

Empowers Rwandan coffee farmers to end poverty through entrepreneurship.

Provided by the organization

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

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1 program service account for $578K of program spending, described in the organization's own filed words · FY2024.
01

Kula Fellowship

The Kula Fellowship joins regenerative agriculture, household entrepreneurship, and personal coaching to equip coffee farming families to move out of extreme poverty and into a life of prosperity, vision, agency, and hope.

$578Kprogram 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 · FY2025
Total grants receivedfrom 2 funders$12K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.0M
Ln 12
Gifts and grantsLn 1h$985K
Other incomeLn 4–11$17K
Investment incomeLn 3$2K
Money outPt IX
$874K
Ln 25
Programscol B$578K
Managementcol C$140K
Fundraisingcol D$156K
Owns and owesPt X
$553K
net assets · Ln 32
Cash and savingsLn 1–2$314K
Total assetsLn 16$558K
LiabilitiesLn 26$5K
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$985K
Investment incomeLn 3$2K
Other incomeLn 4–11$17K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$259K
SavingsLn 2$55K
Cash and savings togetherLn 1–2$314K
InvestmentsLn 11–13$202K
Other assetsLn 15$41K
Total assetsLn 16$558K
LiabilitiesLn 26$5K
Net assetsLn 32$553K
OperationsPt I, VI
EmployeesI 53
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$221K$314K
InvestmentsLn 11–13$91K$202K
Total assetsLn 16$418K$558K
LiabilitiesLn 26$14K$5K
Net assetsLn 32$404K$553K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants and assistance to foreign recipientsLn 3$421K$421K
Pay of current officers, directors and key staffLn 5$99K$64K$15K$20K
Other salaries and wagesLn 7$163K$58K$69K$36K
Other employee benefitsLn 9$13K$5K$5K$3K
Payroll taxesLn 10$20K$9K$6K$4K
Legal feesLn 11b$6K$6K
Accounting feesLn 11c$31K$31K
Investment management feesLn 11f$990$990
Other fees for servicesLn 11g$3K$3K
Advertising and promotionLn 12$89K$89K
Office expensesLn 13$10K$8K$3K
Information technologyLn 14$14K$10K$3K
TravelLn 17$4K$3K$943
Total functional expensesLn 25$874K$578K$140K$156K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $703K$828K−$126K$435K 990 PDF
FY2024 Viewing $1.0M$874K$131K$553K 990 PDF
FY2023 $623K$768K−$145K$404K 990 PDF
FY2022 $900K$829K$71K$547K 990 PDF
FY2021 $916K$749K$167K$439K 990 PDF
FY2020 $776K$644K$132K$273K 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 $1,004,964 across 4 lines filed
Lines not itemized here account for $17,484 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$985,136
VIII-1h Total contributions, gifts and grants$985,136
VIII-3 Investment incomeExcluded from tax $2,344$2,344
VIII-12 Total revenueRelated to mission $0 · Unrelated business $17,484 · Excluded from tax $2,344$1,004,964
Part IX · Statement of functional expenses $873,995 across 13 lines filed
IX-3 Grants and assistance to foreign recipientsPrograms $420,833$420,833
IX-5 Pay of current officers, directors and key staffPrograms $64,253 · Management $14,828 · Fundraising $19,770$98,851
IX-7 Other salaries and wagesPrograms $58,375 · Management $68,551 · Fundraising $36,458$163,384
IX-9 Other employee benefitsPrograms $4,603 · Management $5,202 · Fundraising $2,807$12,612
IX-10 Payroll taxesPrograms $9,033 · Management $6,289 · Fundraising $4,191$19,513
IX-11b Legal feesManagement $6,355$6,355
IX-11c Accounting feesManagement $30,825$30,825
IX-11f Investment management feesManagement $990$990
IX-11g Other fees for servicesFundraising $3,110$3,110
IX-12 Advertising and promotionFundraising $89,330$89,330
IX-13 Office expensesPrograms $7,843 · Management $2,614$10,457
IX-14 Information technologyPrograms $10,473 · Management $3,491$13,964
IX-17 TravelPrograms $2,828 · Management $943$3,771
IX-25 Total functional expensesPrograms $578,241 · Management $140,088 · Fundraising $155,666$873,995
Part X · Balance sheet $558,064 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $116,329$258,795
X-2 Savings and temporary cash investmentsStart of year $105,012$55,025
X-8 Inventories for sale or useStart of year $52,960$1,500
X-11 Publicly traded securitiesStart of year $90,587$201,638
X-12 Other securitiesStart of year $450$450
X-15 Other assetsStart of year $52,272$40,656
X-16 Total assetsStart of year $417,610$558,064
X-17 Accounts payable and accrued expensesStart of year $13,877$4,946
X-26 Total liabilitiesStart of year $13,877$4,946
X-27 Net assets without donor restrictionsStart of year $403,733$479,121
X-28 Net assets with donor restrictions$73,997
X-32 Total net assets or fund balancesStart of year $403,733$553,118
X-33 Total liabilities and net assetsStart of year $417,610$558,064
Part XI · Reconciliation of net assets $553,118 net assets at year end
XI-1 Total revenue$1,004,964
XI-2 Total expenses$873,995
XI-3 Revenue less expenses$130,969
XI-4 Net assets at start of year$403,733
XI-5 Net unrealized gains (losses) on investments$8,222
XI-9 Other changes in net assets$10,194
XI-10 Net assets at end of year$553,118

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

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