The Bloom Project INC EIN 46-2796032 Form 990 (PDF) Claim this org

The Bloom Project INC FY2020 filing

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Develops young people to become future community leaders. For fiscal year 2020 it reported $287K in revenue, $79K in expenses, and $218K in net assets.Pt I

Type
Public charity (501(c)(3)) · Youth Development
Location
Indianapolis, IN
Website
www.bloomprojectinc.org
Filings
5 on file (2020–2020)
Revenue
$287KFY2020
Expenses
$79K
Net assets
$218K
People
3
Filings
5
Updates
0
More identity details & actions ⌄
EIN  46-2796032 Public charity (501(c)(3)) Indianapolis, IN
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Develops young people to become future community leaders.
Leadership
Kelly Doucet · President
Money in and out
$287K revenue, $79K expenses
Bottom line
89% program efficiency
Where the money goes · FY2020
Total revenue
$287K
Pt VIII · Ln 12
Total expenses
$79K
Pt IX · Ln 25
Net assets
$218K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $207K
Where spending went · Part IX cols B–D
Program services $0.89 Management & general $0.11
Program efficiency
89%
of spending reaches programs
Operating runway
33.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
+72%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$287K
FY2020
Expenses
$79K
FY2020
Total assets
$218K
FY2020
Total liabilities
$0
FY2020
Total revenue
$287K
Pt VIII · Ln 12
Total expenses
$79K
Pt IX · Ln 25
Net assets
$218K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$207K
Total assetsPt X · Ln 16$218K
Program-expense ratioPt IX · col B89%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 4pending

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThe Bloom Project INC
EINHdr · item D46-2796032
Principal addressHdr · item CIndianapolis, IN
WebsiteHdr · item Jwww.bloomprojectinc.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFYouth Development (O50)
Ruling yearIRS BMFSep 2014

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1bpending
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 2No

Officers, Directors & Key Employees

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

Arnetta Scruggs’s $60K as Executive Director is at the 50th percentile of top reported officer pay among 1993 $100K–1M youth development 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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Mission & Programs · Part III

Where the work happens

3 program services account for $61K of program spending, described in the organization's own filed words · FY2020.
01

COVID Relief Fund

$38Kprogram expense
02

Project King

$15Kprogram expense
03

Royal Mentality

$8Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue$207K · 72%
Contributions & grants$80K · 28%
Program service revenue72%$207K
Contributions & grants28%$80K
— government grantsLn 1e$60K
Total revenueLn 12$287K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.89 Management & general $0.11
Program services89%$70K
Management & general11%$9K
Total functional expensesLn 25$79K

Balance Sheet

Part X · end of year
CashLn 1$218K
Total assetsLn 16$218K
Total liabilitiesLn 26$0
Total net assetsLn 32$218K
Months of cash on handcomputed33.0

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $218K · Operating expenses/yr $79K
33.0 months
Where the money goes
Program services
Program services $70K · Total expenses $79K
89%
Management & General
Management & general $9K · Total expenses $79K
11%
Fundraising
Fundraising $0 · Total expenses $79K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $20K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $80K · Total revenue $287K
28%
Government reliance
Government grants $60K · Total revenue $287K
21%
Earned-income share
Program service revenue $207K · Total revenue $287K
72%
Investment reliance
Investment income $0 · Total revenue $287K
0%
Program self-sufficiency
Program service revenue $207K · Total expenses $79K
261%
Growth & trend
Revenue growth (YoY)
This year $287K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $218K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $287K · Expenses $79K
+72%
Liabilities-to-Assets
Total liabilities — · Total assets $218K
Net-asset ratio
Net assets $218K · Total assets $218K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $218K
0%
People & payroll
Highest Reported Total Compensation
Individual Kelly Doucet · Reported title President · Highest reported compensation $0 · Total expenses $79K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $79K
0%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 89%
Overhead ratio 11%
Fundraising cost ratio 0%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0.6%
Fundraising fee ratio 0%

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 · funders on record
Grants received · FY2024
Total grants receivedfrom 3 funders$25K
See all 3 funders →

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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)$260K revenue · ⤓ 990 PDF
FY2023$269K revenue · ⤓ 990 PDF
FY2022$366K revenue · ⤓ 990 PDF
FY2021$213K revenue · ⤓ 990 PDF
FY2020$287K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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