Project Learn INC FY2022 filing

Elizabethtown, KY · Public charity (501(c)(3))

✓ Tax-deductible Latest data FY2022
Revenue
$224K
▲ +68% vs prior year
Spent
$133K
To programs
93%
Net assets
$217K
By yearFY2020–FY2025
Revenue
$224K
FY2022▲ +68%
Revenue by fiscal year
FY2020$134K
FY2021$134K
FY2022$224K
FY2022$160K
FY2023$191K
FY2024$179K
FY2025$188K
Expenses
$133K
FY2022▲ +11%
Expenses by fiscal year
FY2020$176K
FY2021$120K
FY2022$133K
FY2022$54K
FY2023$138K
FY2024$124K
FY2025$133K
Net assets
$217K
FY2022▲ +73%
Net assets by fiscal year
FY2020$112K
FY2021$126K
FY2022$217K
FY2022$323K
FY2023$376K
FY2024$432K
FY2025$487K
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Form 990 for the fiscal year ending June 2022 (IRS tax year 2021).

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Yes — filed FY2025
Foundation funders?
3 funders, incl. Central Kentucky Community Foundation INC
$20K in the latest grant year.
Spent on programs?
93% to programs
Form 990 Part IX, latest filing.
Size and trend
$100K–1M
↑ +68% vs prior year
Legal name (IRS)Hdr · item CProject Learn INC
EINHdr · item D61-6030361
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJan 1957
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CElizabethtown, KY
NTEE classificationIRS BMFNonprofit

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.93 Management & general $0.07
Program services93%$124K
Management & general7%$9K
Total functional expensesLn 25$133K

Financial health

Program efficiency
93%
of spending reaches programs
Operating runway
16.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
+41%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$220K
FY2022▲ +45%
Total assets by fiscal year
FY2020$136K
FY2021$152K
FY2022$220K
FY2022$325K
FY2023$382K
FY2024$432K
FY2025$490K
Total liabilities
$3K
FY2022▼ -89%
Total liabilities by fiscal year
FY2020$24K
FY2021$26K
FY2022$3K
FY2022$2K
FY2023$6K
FY2024$325
FY2025$3K
Revenue less expensesPt I · Ln 19$91K
Total assetsPt X · Ln 16$220K
Program-expense ratioPt IX · col B93%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 412

Balance Sheet

Part X · end of year
CashLn 1$150K
Total assetsLn 16$220K
Total liabilitiesLn 26$3K
Total net assetsLn 32$217K
Months of cash on handcomputed13.5

Statement of Revenue

Part VIII
Contributions & grants$168K · 75%
Program service revenue$51K · 23%
Investment income$3K · 1%
Other revenue$2K · 1%
Contributions & grants75%$168K
Program service revenue23%$51K
Investment income1%$3K
Other revenue1%$2K
— government grantsLn 1e$21K
Total revenueLn 12$224K

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $150K · Operating expenses (Pt IX) $133K · Less non-cash grants $21K · Cash operating expenses/yr $112K
16.0 months
Where the money goes
Program services
Program services $124K · Total expenses $133K
93%
Management & General
Management & general $9K · Total expenses $133K
7%
Fundraising
Fundraising $0 · Total expenses $133K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $90K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $168K · Total revenue $224K
75%
Government reliance
Government grants $21K · Total revenue $224K
9%
Earned-income share
Program service revenue $51K · Total revenue $224K
23%
Investment reliance
Investment income $3K · Total revenue $224K
+1%
Program self-sufficiency
Program service revenue $51K · Total expenses $133K
39%
Growth & trend
Revenue growth (YoY)
This year $224K · Prior year $134K
+68%
Net-asset trend (YoY)
End of year $217K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $224K · Expenses $133K
+41%
Liabilities-to-Assets
Total liabilities — · Total assets $220K
—
Net-asset ratio
Net assets $217K · Total assets $220K
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $220K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Ann Borders · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $133K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $82K · Total expenses $133K
62%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 93%——
Overhead ratio 7%——
Fundraising cost ratio 0%——
Revenue growth 68%——
Accounting fee ratio 4%——

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.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
See Project Learn INC executive salaries →

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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 12aNo
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

Mission and programs

Offers day programs with recreational activities for individuals with intellectual and developmental disabilities.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $120K of program spending, described in the organization's own filed words · FY2021.
01

Project Learn

Day program designed to keep special needs individuals in the home. Services provide social interaction with peers, visits for entertainment, and time off for caregiver.

$120Kprogram expense
02

Summer Program

For school aged special needs children to promote their learning skills. Includes a 4 week program.

Pt IX · col B
03

Social Events

Hosting events and dinners for special olympics participants and other handicapped individuals.

Pt IX · col B

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Funders

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

Grants

Schedule I · funders on record
Grants received · FY2024
See all 3 funders →

Filing history

YearRevenueExpensesChangeFiling
FY2025 Latest $188K$133K+5% 990 PDF
FY2024 $179K$124K-6% 990 PDF
FY2023 $191K$138K+20% 990 PDF
FY2022 Viewing $224K$133K+68% 990 PDF
FY2021 $134K$120K+0.2% 990 PDF
FY2020 $134K$176K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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