Project Learn INC EIN 46-4885366

Project Learn INC FY2023 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 · $125K
Money in and out
$1.0M revenue, $1.1M expenses
Bottom line
83% program efficiency

Provides programs and grant writing to support Lowell Public Schools. For fiscal year 2023 it reported $1.0M in revenue, $1.1M in expenses, and $813K in net assets.Pt I

Where the money goes · FY2023
Total revenue
$1.0M
Pt VIII · Ln 12
Total expenses
$1.1M
Pt IX · Ln 25
Net assets
$813K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$30K
Where spending went · Part IX cols B–D
Program services $0.83 Management & general $0.11 Fundraising $0.07
Program efficiency
83%
of spending reaches programs
Operating runway
8.3mo
months of highly liquid reserves at operating expense rate
Surplus margin
-3%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$1.0M
FY2023▼ -1%
Expenses
$1.1M
FY2023▲ +23%
Total assets
$887K
FY2023▲ +2%
Total liabilities
$74K
FY2023▲ +9%
Total revenue
$1.0M
Pt VIII · Ln 12
Total expenses
$1.1M
Pt IX · Ln 25
Net assets
$813K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$30K
Total assetsPt X · Ln 16$887K
Program-expense ratioPt IX · col B83%
Voting members of governing bodyPt I · Ln 316
Independent voting membersPt I · Ln 412
Mission & Programs · Part III

Where the work happens

1 program service account for $884K of program spending, described in the organization's own filed words · FY2023.
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.

$884Kprogram 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 1a16
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
$125,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

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$963K · 93%
Program service revenue$54K · 5%
Investment income$18K · 2%
Contributions & grants93%$963K
Program service revenue5%$54K
Investment income2%$18K
Total revenueLn 12$1.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.83 Management & general $0.11 Fundraising $0.07
Program services83%$884K
Management & general11%$113K
Fundraising7%$70K
Total functional expensesLn 25$1.1M

Balance Sheet

Part X · end of year
CashLn 1$734K
Total assetsLn 16$887K
Total liabilitiesLn 26$74K
Total net assetsLn 32$813K
Months of cash on handcomputed8.3

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $734K · Operating expenses/yr $1.1M
8.3 months
Where the money goes
Program services
Program services $884K · Total expenses $1.1M
83%
Management & General
Management & general $113K · Total expenses $1.1M
11%
Fundraising
Fundraising $70K · Total expenses $1.1M
7%
Cost to raise $1
Fundraising expense (3-yr avg) $42K · Solicited contributions (3-yr avg) $796K
$0.05 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $963K · Total revenue $1.0M
93%
Government reliance
Government grants — · Total revenue $1.0M
Earned-income share
Program service revenue $54K · Total revenue $1.0M
5%
Investment reliance
Investment income $18K · Total revenue $1.0M
+2%
Program self-sufficiency
Program service revenue $54K · Total expenses $1.1M
5%
Growth & trend
Revenue growth (YoY)
This year $1.0M · Prior year $1.1M
-1%
Net-asset trend (YoY)
End of year $813K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.0M · Expenses $1.1M
-3%
Liabilities-to-Assets
Total liabilities — · Total assets $887K
Net-asset ratio
Net assets $813K · Total assets $887K
92%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $887K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Elizabeth Nunn · Reported title EXEC. DIRECT · Highest reported compensation $125K · Total expenses $1.1M
12%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $520K · Total expenses $1.1M
49%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 83%
Overhead ratio 11%
Fundraising cost ratio 7%
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 · viewing · ⤓ 990 PDF
FY2022$1.1M revenue · ⤓ 990 PDF
FY2021$734K revenue · ⤓ 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) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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