Project 2024 INC FY2021 filing

Tax-deductible

Lodi, NJ501(c)(3)Recreation & SportsEIN 82-2472103Revenue $61K in FY2021

On file with the IRSamericanjudo.com/pages/project-gold42 Essex St, 07644-2033 · Lodi, NJTax-exempt since Jan 2018Publicly supported — 509(a)(2)

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Sponsoring prosepective olympic judo athletes

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $12K a year · 21% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
21 mo
of spending, in cash
Looks good: 21.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$61K
+7% vs prior year
Spent
$35K
To programs
100%
Net assets
$62K
By yearFY2020–FY2024
Revenue
$61K
FY2021▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2020$57K
FY2021$61K
FY2022$7K
FY2023$94K
FY2024$73K
Expenses
$35K
FY2021▲ +72%
Tap a bar for its year
Expenses by fiscal year
FY2020$20K
FY2021$35K
FY2022$63K
FY2023$48K
FY2024$66K
Net assets
$62K
FY2021▲ +63%
Tap a bar for its year
Net assets by fiscal year
FY2020$38K
FY2021$62K
FY2022$6K
FY2023$52K
FY2024$53K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2018.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $35K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
See Project 2024 INC executive salaries →

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Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Sponsors aspiring Olympic judo athletes to help them reach their competitive goals.

Questions for Project 2024 INC

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Provided by the organization

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1 program · $35K · in their own filed words · FY2021
01

Sponsoring prospective olympic judo athletes

$35Kprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$61K
Ln 12
Gifts and grantsLn 1h$50K
Fees for servicesLn 2g$11K
Money outPt IX
$35K
Ln 25
Programscol B$35K
Owns and owesPt X
$62K
net assets · Ln 32
Cash and savingsLn 1–2$62K
Total assetsLn 16$62K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$50K
Fees for servicesLn 2g$11K
Total revenueLn 12$61K
Assets in detailPt X, end of year
CashLn 1$62K
Cash and savings togetherLn 1–2$62K
Total assetsLn 16$62K
LiabilitiesLn 26$0
Net assetsLn 32$62K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$36K$62K
Total assetsLn 16$38K$62K
LiabilitiesLn 26$0$0
Net assetsLn 32$38K$62K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$12K$12K
Advertising and promotionLn 12$373$373
TravelLn 17$22K$22K
Other expenses (24a–d)Ln 24$253$253
Total functional expensesLn 25$35K$35K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $73K$66K$7K$53K 990 PDF
FY2023 $94K$48K$46K$52K 990 PDF
FY2022 $7K$63K−$56K$6K 990 PDF
FY2021 Viewing $61K$35K$26K$62K 990 PDF
FY2020 $57K$20K$37K$38K 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
See the full FY2021 990 (6 parts)
Part I · Summary $60,856 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $50,000$50,125
I-9 Program service revenuePrior year $6,779$10,731
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $56,779$60,856
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $20,276$34,895
I-18 Total expensesPrior year $20,276$34,895
I-19 Revenue less expensesPrior year $36,503$25,961
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $60,856 across 4 lines filed
VIII-1f All other contributions, gifts and grants$50,125
VIII-1h Total contributions, gifts and grants$50,125
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,731$10,731
VIII-12 Total revenueRelated to mission $10,731 · Unrelated business $0 · Excluded from tax $0$60,856
Part IX · Statement of functional expenses $34,895 across 4 lines filed
IX-11g Other fees for servicesPrograms $12,400$12,400
IX-12 Advertising and promotionPrograms $373$373
IX-17 TravelPrograms $21,869$21,869
IX-24 Other expenses (24a–d)Programs $253$253
IX-25 Total functional expensesPrograms $34,895 · Management $0 · Fundraising $0$34,895
Part X · Balance sheet $61,962 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $36,078$61,962
X-16 Total assetsStart of year $37,991$61,962
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $37,991$61,962
X-32 Total net assets or fund balancesStart of year $37,991$61,962
X-33 Total liabilities and net assetsStart of year $37,991$61,962
Part XI · Reconciliation of net assets $61,962 net assets at year end
XI-1 Total revenue$60,856
XI-2 Total expenses$34,895
XI-3 Revenue less expenses$25,961
XI-4 Net assets at start of year$37,991
XI-8 Prior period adjustments−$1,990
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$61,962

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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