The Trust Project FY2023 filing

Tax-deductible

Pacifica, CA501(c)(3)EIN 83-3152419Revenue $576K in FY2023

On file with the IRSthetrustproject.org446 Old County Road Suite 100225, 94044-3270 · Pacifica, CATax-exempt since Dec 2021Publicly supported charity — 170(b)(1)(A)(vi)

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501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
$198K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
1 of 4
filings with a surplus
Average deficit $383K a year · 62% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$198K
to officers and key staff · 15% of spending
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $131K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$131K
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$576K
+14% vs prior year
Spent
$1.3M
To programs
91%
Net assets
$452K
By yearFY2021–FY2024
Revenue
$576K
FY2023▲ +14%
Tap a bar for its year
Revenue by fiscal year
FY2021$951K
FY2022$507K
FY2023$576K
FY2024$427K
Expenses
$1.3M
FY2023▲ +40%
Tap a bar for its year
Expenses by fiscal year
FY2021$793K
FY2022$963K
FY2023$1.3M
FY2024$889K
Net assets
$452K
FY2023▼ -63%
Tap a bar for its year
Net assets by fiscal year
FY2021$1.7M
FY2022$1.2M
FY2023$452K
FY2024−$11K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 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 Dec 2021.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $1.2M Management & general 8% · $106K Fundraising 1% · $12K

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

4 people listed on the 990; $198K paid to officers and key staff.

Part VII, Section A · reportable compensation
$198,333Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Chairman of the Board
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021
Sally Lehrman$191,591$198,333$160,000$160,000
Pier Paolo Bozzano$101,457———

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.

See The Trust Project 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

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Provided by the organization

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1 program · $1.2M · in their own filed words · FY2023
01

The organization's primary purpose is to work with news organizations to implement a set of eight proprietary trust indicators, which are a set of transparency disclosures provided on news sites globally and which provide clear information that helps educate the general public so that they may recognize when a news site is truly…

$1.2Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$131K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$576K
Ln 12
Gifts and grantsLn 1h$550K
Investment incomeLn 3$16K
Fees for servicesLn 2g$10K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.2M
Managementcol C$106K
Fundraisingcol D$12K
Owns and owesPt X
$452K
net assets · Ln 32
Cash and savingsLn 1–2$571K
Total assetsLn 16$583K
LiabilitiesLn 26$131K
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$550K
Fees for servicesLn 2g$10K
Investment incomeLn 3$16K
Total revenueLn 12$576K
Assets in detailPt X, end of year
SavingsLn 2$571K
Cash and savings togetherLn 1–2$571K
Land, buildings, equipmentLn 10c$1K
Total assetsLn 16$583K
LiabilitiesLn 26$131K
Net assetsLn 32$452K
OperationsPt I, VI
EmployeesI 53
VolunteersI 64
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$959K$571K
Land, buildings, equipmentLn 10c$2K$1K
Total assetsLn 16$1.3M$583K
LiabilitiesLn 26$98K$131K
Net assetsLn 32$1.2M$452K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$215K$190K$21K$4K
Other salaries and wagesLn 7$320K$283K$32K$5K
Other employee benefitsLn 9$89K$86K$1K$2K
Payroll taxesLn 10$37K$33K$4K$604
Management feesLn 11a$7K$6K$698$119
Legal feesLn 11b$37K$34K$2K
Accounting feesLn 11c$39K$39K
Other fees for servicesLn 11g$261K$261K
Advertising and promotionLn 12$162K$162K
Office expensesLn 13$15K$14K$477$81
Information technologyLn 14$92K$92K$279$47
OccupancyLn 16$4K$3K$267$45
TravelLn 17$55K$55K$321$54
Conferences, conventions and meetingsLn 19$1K$1K
Depreciation, depletion and amortizationLn 22$967$967
InsuranceLn 23$1K$1K$122$21
Other expenses (24a–d)Ln 24$10K$8K$3K
Total functional expensesLn 25$1.3M$1.2M$106K$12K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $427K$889K−$463K−$11K 990 PDF
FY2023 Viewing $576K$1.3M−$772K$452K 990 PDF
FY2022 $507K$963K−$456K$1.2M 990 PDF
FY2021 $951K$793K$158K$1.7M 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 FY2023 990 (6 parts)
Part I · Summary $576,371 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $500,000$550,000
I-9 Program service revenuePrior year $1,378$10,000
I-10 Investment incomePrior year $5,801$16,371
I-11 Other revenuePrior year $248$0
I-12 Total revenuePrior year $507,427$576,371
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $356,740$662,169
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $606,692$686,319
I-18 Total expensesPrior year $963,432$1,348,488
I-19 Revenue less expensesPrior year −$456,005−$772,117
Part VI · Governance 3 of 4 board members independent, no flags
VI-1a Voting members of the governing body4
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
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 $576,371 across 5 lines filed
VIII-1f All other contributions, gifts and grants$550,000
VIII-1h Total contributions, gifts and grants$550,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,000$10,000
VIII-3 Investment incomeExcluded from tax $16,371$16,371
VIII-12 Total revenueRelated to mission $10,000 · Unrelated business $0 · Excluded from tax $16,371$576,371
Part IX · Statement of functional expenses $1,348,488 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $190,400 · Management $21,454 · Fundraising $3,643$215,497
IX-7 Other salaries and wagesPrograms $282,982 · Management $31,887 · Fundraising $5,415$320,284
IX-9 Other employee benefitsPrograms $86,110 · Management $1,245 · Fundraising $1,723$89,078
IX-10 Payroll taxesPrograms $33,074 · Management $3,632 · Fundraising $604$37,310
IX-11a Management feesPrograms $6,194 · Management $698 · Fundraising $119$7,011
IX-11b Legal feesPrograms $34,347 · Management $2,481$36,828
IX-11c Accounting feesManagement $39,043$39,043
IX-11g Other fees for servicesPrograms $260,660$260,660
IX-12 Advertising and promotionPrograms $162,308$162,308
IX-13 Office expensesPrograms $14,436 · Management $477 · Fundraising $81$14,994
IX-14 Information technologyPrograms $92,101 · Management $279 · Fundraising $47$92,427
IX-16 OccupancyPrograms $3,484 · Management $267 · Fundraising $45$3,796
IX-17 TravelPrograms $55,056 · Management $321 · Fundraising $54$55,431
IX-19 Conferences, conventions and meetingsPrograms $1,228$1,228
IX-22 Depreciation, depletion and amortizationManagement $967$967
IX-23 InsurancePrograms $1,083 · Management $122 · Fundraising $21$1,226
IX-24 Other expenses (24a–d)Programs $7,529 · Management $2,871$10,400
IX-25 Total functional expensesPrograms $1,230,992 · Management $105,744 · Fundraising $11,752$1,348,488
Part X · Balance sheet $583,222 assets, 9 lines filed
X-2 Savings and temporary cash investmentsStart of year $958,693$571,332
X-4 Accounts receivableStart of year $350,000$0
X-9 Prepaid expenses and deferred chargesStart of year $10,706$10,705
X-10c Land, buildings and equipment, netStart of year $2,152$1,185
X-16 Total assetsStart of year $1,321,551$583,222
X-17 Accounts payable and accrued expensesStart of year $97,684$131,472
X-26 Total liabilitiesStart of year $97,684$131,472
X-32 Total net assets or fund balancesStart of year $1,223,867$451,750
X-33 Total liabilities and net assetsStart of year $1,321,551$583,222
Part XI · Reconciliation of net assets $451,750 net assets at year end
XI-1 Total revenue$576,371
XI-2 Total expenses$1,348,488
XI-3 Revenue less expenses−$772,117
XI-4 Net assets at start of year$1,223,867
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$451,750

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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