Project Scholars INC EIN 54-2079731 Form 990 (PDF) Claim this org

Project Scholars INC

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Project Scholars INC is a public foundation based in Clermont, FL. For fiscal year 2025 it reported $173K in revenue, $213K in expenses, and $242K in net assets.Pt I

Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Clermont, FL
Website
www.pigonthepond.org
Filings
6 on file (2020–2025)
Revenue
$173KFY2025
Expenses
$213K
Net assets
$242K
People
11
Filings
6
Updates
0
More identity details & actions ⌄
EIN  54-2079731 Public foundation / grantmaker Clermont, FL
Form 990 (PDF)
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Size
$100K–1M
What they do
a public foundation
Leadership
Paul Rountree · President
Money in and out
$173K revenue, $213K expenses
Bottom line
19% program efficiency
Grants paid & assets · FY2025
Total revenue
$173K
Pt VIII · Ln 12
Total expenses
$213K
Pt IX · Ln 25
Net assets
$242K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$40K
Where spending went · Part IX cols B–D
Program services $0.19 Management & general $0.81
Program efficiency
19%
of spending reaches programs▼ -73% vs prior filing year
Operating runway
6.8mo
months of highly liquid reserves at operating expense rate▼ -82% vs prior filing year
Surplus margin
-23%
revenue over expenses, this year▼ -146% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$173K
FY2025▲ +17%
Expenses
$213K
FY2025▲ +196%
Total assets
$312K
FY2025▼ -32%
Total liabilities
$70K
FY2025▼ -62%
Total revenue
$173K
Pt VIII · Ln 12
Total expenses
$213K
Pt IX · Ln 25
Net assets
$242K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$40K
Total assetsPt X · Ln 16$312K
Program-expense ratioPt IX · col B19%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 412

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProject Scholars INC
EINHdr · item D54-2079731
Principal addressHdr · item CClermont, FL
WebsiteHdr · item Jwww.pigonthepond.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MFL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T31)
Ruling yearIRS BMFOct 2003

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a12
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 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Project Scholars INC executive salaries →

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Mission & Programs · Part III

Where the work happens

1 program service account for $40K of program spending, described in the organization's own filed words · FY2024.
01

The main purpose of the organization is to raise funds that will be used to provide scholarships to high school students with its primary fundraisers being a community festival as well as donations from individuals.

$40Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants136%$235K
— government grantsLn 1e$18K
Total revenueLn 12$173K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.19 Management & general $0.81
Program services19%$40K
Management & general81%$174K
Total functional expensesLn 25$213K

Balance Sheet

Part X · end of year
CashLn 1$122K
Total assetsLn 16$312K
Total liabilitiesLn 26$70K
Total net assetsLn 32$242K
Months of cash on handcomputed6.8

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $122K · Operating expenses/yr $213K
6.8 months
Where the money goes
Program services
Program services $40K · Total expenses $213K
19%
Management & General
Management & general $174K · Total expenses $213K
81%
Fundraising
Fundraising $0 · Total expenses $213K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $179K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $235K · Total revenue $173K
136%
Government reliance
Government grants $18K · Total revenue $173K
10%
Earned-income share
Program service revenue $0 · Total revenue $173K
0%
Investment reliance
Investment income $0 · Total revenue $173K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $213K
0%
Growth & trend
Revenue growth (YoY)
This year $173K · Prior year $147K
+17%
Net-asset trend (YoY)
End of year $242K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $173K · Expenses $213K
-23%
Liabilities-to-Assets
Total liabilities — · Total assets $312K
Net-asset ratio
Net assets $242K · Total assets $312K
78%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $312K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Paul Rountree · Reported title President · Highest reported compensation $0 · Total expenses $213K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $213K
0%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 19%
Overhead ratio 81%
Fundraising cost ratio 0%
Revenue growth 17%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 2%

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 · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$20K
Grants paid · 4 grants · $119K · 2021–2024
Lake County Board of County CommissionersFY2024$17,695
Lake County Board of County CommissionersFY2023$9,994
Lake County Board of County CommissionersFY2022$10,000

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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
FY2025 (Latest)$173K revenue · viewing · ⤓ 990 PDF
FY2024$147K revenue · ⤓ 990 PDF
FY2023$117K revenue · ⤓ 990 PDF
FY2022$138K revenue · ⤓ 990 PDF
FY2021$11K revenue · ⤓ 990 PDF
FY2020$100 revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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