Project 88 Foundation FY2020 filing

Missouri City, TXUnknown exempt organization EIN 47-2066462Revenue $19K in FY2020Latest filing we have: 2021. Newer ones may not be in our data yet. Filed since? Tell us.

On file with the IRSproject88.orgMissouri City, TX

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To connect underserved students to leadership development and educational opportunities.

Form 990 Part I, line 1, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 47-2066462) · Dispute this line
89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2021
latest Form 990
The latest return is for FY2021, 5 tax years back.
IRS e-file · Filing history
Surplus or deficit
0 of 2
filings with a surplus
Average deficit $44K a year · 246% of revenue · last 2 filings
A surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
89%
of spending
89% of spending went to programs.
Pt IX · Ln 25 · col B
4.2 mo
of spending, in cash
4.2 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
1 funder names it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Liabilities are 0% of assets.
Pt X · Ln 26
Independent board members
8
of 8 voting members
8 of 8 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$19K
Spent
$61K
To programs
89%
Net assets
$46K
By yearFY2020–FY2021
Revenue
$19K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$19K
FY2021$17K
Expenses
$61K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$61K
FY2021$63K
Net assets
$46K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$46K
FY2021$0

From the FY2020 Form 990 · see the original

You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2021) →

Is it real?

Yes. Never revoked by the IRS. Latest filing we have: FY2021.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $54K Management & general 6% · $4K Fundraising 5% · $3K

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

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Project 88 Foundation executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Connects underserved students to leadership and educational opportunities.

Questions for Project 88 Foundation

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3 programs · $54K · in their own filed words · FY2020
01

Project Advise

Project 88 sponsors certified Advise TX college advisors to serve in Houston area public high schools. Students that attend a school with a Project 88 sponsored advisor are 30% more likely to apply to a college or a university.

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 47-2066462) · Dispute this line
$29Kprogram expense
02

Project Achieve

Project 88 provides wrap-around support for high-achieving students that are destined for the nation's top-tier colleges. Oftentimes, the obstacles that prevent students from matriculating to out-of-state colleges are modest.

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 47-2066462) · Dispute this line
$19Kprogram expense
03

Project Explore

At Project 88, we believe that college might not be the best option for everyone. Therefore, we sponsor career advisors through a program called BridgeYear, where advisors help guide recent high school graduates through career test drives, as well as connect students to advising for community college.

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 47-2066462) · Dispute this line
$5Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2021
Total grants receivedfrom 1 funder$25K
Grants paid · 1 grant · $25K · 2020–2020
Advise TexasFY2020$25,000

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$19K
Ln 12
Gifts and grantsLn 1h$19K
Money outPt IX
$61K
Ln 25
Programscol B$54K
Managementcol C$4K
Fundraisingcol D$3K
Owns and owesPt X
$46K
net assets · Ln 32
Cash and savingsLn 1–2$21K
Total assetsLn 16$46K
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$19K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Total revenueLn 12$19K
Assets in detailPt X, end of year
CashLn 1$21K
Cash and savings togetherLn 1–2$21K
Pledges and grants receivableLn 3$25K
Total assetsLn 16$46K
LiabilitiesLn 26$0
Net assetsLn 32$46K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$23K$21K
Total assetsLn 16$88K$46K
LiabilitiesLn 26$498$0
Net assetsLn 32$88K$46K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$34K$34K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Management feesLn 11a$8K$8K
Accounting feesLn 11c$3K$3K
Other fees for servicesLn 11g$1K$1K$272
Office expensesLn 13$1K$1K$244
Information technologyLn 14$3K$204$90$2K
OccupancyLn 16$1K$1K
Conferences, conventions and meetingsLn 19$618$118$500
Other expenses (24a–d)Ln 24$9K$9K$0$0
All other expensesLn 24e$0
Total functional expensesLn 25$61K$54K$4K$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 LatestFiled with the IRS Oct 18, 2022 $17K$63K−$46K$0 990 PDF
FY2020 ViewingFiled with the IRS Apr 16, 2021 $19K$61K−$41K$46K 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2020 990
Part I · Summary $19,070 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $373,762$19,070
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year −$37,621$0
I-12 Total revenuePrior year $336,141$19,070
I-13 Grants and similar amounts paidPrior year $179,200$34,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $20,000$0
I-17 Other expensesPrior year $76,883$26,557
I-18 Total expensesPrior year $276,083$60,557
I-19 Revenue less expensesPrior year $60,058−$41,487
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $19,070 across 9 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$19,070
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$19,070
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$19,070
Part IX · Statement of functional expenses $60,557 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $34,000$34,000
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-11a Management feesPrograms $7,500$7,500
IX-11c Accounting feesManagement $3,319$3,319
IX-11g Other fees for servicesPrograms $1,000 · Fundraising $272$1,272
IX-13 Office expensesPrograms $1,072 · Management $244$1,316
IX-14 Information technologyPrograms $204 · Management $90 · Fundraising $2,266$2,560
IX-16 OccupancyPrograms $1,000$1,000
IX-19 Conferences, conventions and meetingsManagement $118 · Fundraising $500$618
IX-24 Other expenses (24a–d)Programs $8,972 · Management $0 · Fundraising $0$8,972
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $53,748 · Management $3,771 · Fundraising $3,038$60,557
Part X · Balance sheet $46,421 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $23,146$21,421
X-3 Pledges and grants receivableStart of year $65,000$25,000
X-16 Total assetsStart of year $88,406$46,421
X-26 Total liabilitiesStart of year $498$0
X-27 Net assets without donor restrictionsStart of year $37,908$21,421
X-28 Net assets with donor restrictionsStart of year $50,000$25,000
X-32 Total net assets or fund balancesStart of year $87,908$46,421
X-33 Total liabilities and net assetsStart of year $88,406$46,421
Part XI · Reconciliation of net assets $46,421 net assets at year end
XI-1 Total revenue$19,070
XI-2 Total expenses$60,557
XI-3 Revenue less expenses−$41,487
XI-4 Net assets at start of year$87,908
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$46,421

Form 990 e-file FY2020 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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