Project Learn INC EIN 46-4885366

Project Learn INC FY2021 filing

EIN  46-4885366 Public charity (501(c)(3)) Lowell, MA
Form 990 (PDF)
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Size
$1–10M
What they do
Provides programs and grant writing to support Lowell Public Schools.
Leadership
Elizabeth Nunn · Exec. Direct · $113K
Money in and out
$734K revenue, $646K expenses
Bottom line
80% program efficiency

Provides programs and grant writing to support Lowell Public Schools. For fiscal year 2021 it reported $734K in revenue, $646K in expenses, and $702K in net assets.Pt I

Where the money goes · FY2021
Total revenue
$734K
Pt VIII · Ln 12
Total expenses
$646K
Pt IX · Ln 25
Net assets
$702K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $89K
Where spending went · Part IX cols B–D
Program services $0.80 Management & general $0.15 Fundraising $0.05
Program efficiency
80%
of spending reaches programs
Operating runway
13.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
+12%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$734K
FY2021▼ -1%
Expenses
$646K
FY2021▲ +23%
Total assets
$717K
FY2021▲ +15%
Total liabilities
$15K
FY2021▲ +23%
Total revenue
$734K
Pt VIII · Ln 12
Total expenses
$646K
Pt IX · Ln 25
Net assets
$702K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$89K
Total assetsPt X · Ln 16$717K
Program-expense ratioPt IX · col B80%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 412
Mission & Programs · Part III

Where the work happens

1 program service account for $516K of program spending, described in the organization's own filed words · FY2021.
01

The organization provides ongoing in the form of grant writing, program development and ewxecution to support lowell public schools. Project learn inc. Was instrumental in the lowell public schools obtaining a 2.5 m federal full service community grant.

$516Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProject Learn INC
EINHdr · item D46-4885366
Principal addressHdr · item CLowell, MA
WebsiteHdr · item Jwww.projectlearninc.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B12)
Ruling yearIRS BMFMar 2015

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a13
Independent voting membersPt VI · Ln 1b12
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 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Exec. Direct
$113,250Pt VII · Sec A
$0Pt 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

Elizabeth Nunn’s $129K as Executive Di is at the 52nd percentile of top reported officer pay among 3393 $1–10M education 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Elizabeth Nunn$128,750$125,000$125,000$113,250$118,788

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 & grants$544K · 74%
Program service revenue$142K · 19%
Investment income$48K · 7%
Contributions & grants74%$544K
Program service revenue19%$142K
Investment income7%$48K
Other revenue$278
Total revenueLn 12$734K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.80 Management & general $0.15 Fundraising $0.05
Program services80%$516K
Management & general15%$96K
Fundraising5%$34K
Total functional expensesLn 25$646K

Balance Sheet

Part X · end of year
CashLn 1$699K
Total assetsLn 16$717K
Total liabilitiesLn 26$15K
Total net assetsLn 32$702K
Months of cash on handcomputed13.0

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $699K · Operating expenses/yr $646K
13.0 months
Where the money goes
Program services
Program services $516K · Total expenses $646K
80%
Management & General
Management & general $96K · Total expenses $646K
15%
Fundraising
Fundraising $34K · Total expenses $646K
5%
Cost to raise $1
Fundraising expense (2-yr avg) $24K · Solicited contributions (2-yr avg) $501K
$0.05 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $544K · Total revenue $734K
74%
Government reliance
Government grants — · Total revenue $734K
Earned-income share
Program service revenue $142K · Total revenue $734K
19%
Investment reliance
Investment income $48K · Total revenue $734K
+7%
Program self-sufficiency
Program service revenue $142K · Total expenses $646K
22%
Growth & trend
Revenue growth (YoY)
This year $734K · Prior year $739K
-1%
Net-asset trend (YoY)
End of year $702K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $734K · Expenses $646K
+12%
Liabilities-to-Assets
Total liabilities — · Total assets $717K
Net-asset ratio
Net assets $702K · Total assets $717K
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $717K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Elizabeth Nunn · Reported title EXEC. DIRECT · Highest reported compensation $113K · Total expenses $646K
18%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $302K · Total expenses $646K
47%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 80%
Overhead ratio 15%
Fundraising cost ratio 6%
Revenue growth -1%

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 · FY2025
Total grants receivedfrom 1 funder$27K

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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)$1.2M revenue · ⤓ 990 PDF
FY2023$1.0M revenue · ⤓ 990 PDF
FY2022$1.1M revenue · ⤓ 990 PDF
FY2021$734K revenue · viewing · ⤓ 990 PDF
FY2020$739K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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