Preface Project INC EIN 83-3903496 Form 990 (PDF) Claim this org

Preface Project INC FY2021 filing

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Pairs high school mentors with young students for reading, offering service and scholarships. For fiscal year 2021 it reported $193K in revenue, $38K in expenses, and $217K in net assets.Pt I

Type
Public charity (501(c)(3)) · Youth Development
Location
Duluth, GA
Website
www.prefaceproject.org
Filings
4 on file (2021–2021)
Revenue
$193KFY2021
Expenses
$38K
Net assets
$217K
People
9
Filings
4
Updates
0
More identity details & actions ⌄
EIN  83-3903496 Public charity (501(c)(3)) Duluth, GA
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Size
<$100K
What they do
Pairs high school mentors with young students for reading, offering service and scholarships.
Leadership
Jonathan Wu · Founder/Executive Director
Money in and out
$193K revenue, $38K expenses
Bottom line
87% program efficiency
Where the money goes · FY2021
Total revenue
$193K
Pt VIII · Ln 12
Total expenses
$38K
Pt IX · Ln 25
Net assets
$217K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $155K
Where spending went · Part IX cols B–D
Program services $0.87 Management & general $0.13
Program efficiency
87%
of spending reaches programs
Surplus margin
+80%
revenue over expenses, this year
Donor-funded
120%
of revenue is gifts & grants

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$193K
FY2021
Expenses
$38K
FY2021
Total assets
$219K
FY2021
Total liabilities
$2K
FY2021
Total revenue
$193K
Pt VIII · Ln 12
Total expenses
$38K
Pt IX · Ln 25
Net assets
$217K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$155K
Total assetsPt X · Ln 16$219K
Program-expense ratioPt IX · col B87%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPreface Project INC
EINHdr · item D83-3903496
Principal addressHdr · item CDuluth, GA
WebsiteHdr · item Jwww.prefaceproject.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MGA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFYouth Development (O50)
Ruling yearIRS BMFApr 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
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
Founder/Executive Director
$0Pt VII · Sec A
Treasurer/CFO/Io
$0Pt VII · Sec A
Chief Marketing Officer
$0Pt VII · Sec A
Chief Educational Advisor
$0Pt VII · Sec A
Chief Development Officer
$0Pt VII · Sec A
Chief Operational Liaison
$0Pt VII · Sec A
Chief Legal Liaison
$0Pt VII · Sec A
Secretary/Chief Records Officer
$0Pt VII · Sec A
See Preface Project INC executive salaries →

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Mission & Programs · Part III

Where the work happens

1 program service account for $33K of program spending, described in the organization's own filed words · FY2021.
01

Empowering communities to combat early childhood illiteracy through in-person and virtual reading sessions, while also investing in foundational educational opportunities for the next generation, through scholarship and mentorship opportunities.

$33Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants120%$232K
Investment income$58
Total revenueLn 12$193K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.87 Management & general $0.13
Program services87%$33K
Management & general13%$5K
Total functional expensesLn 25$38K

Balance Sheet

Part X · end of year
CashLn 1$176K
Total assetsLn 16$219K
Total liabilitiesLn 26$2K
Total net assetsLn 32$217K
Months of cash on handcomputed55.3

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $176K · Operating expenses (Pt IX) $38K · Less non-cash grants $49K · Cash operating expenses/yr $-10K
Highly liquid reserves (cash & marketable securities on Pt X) ÷ monthly operating expenses (Pt IX total, less non-cash grants & depreciation when reported).
Where the money goes
Program services
Program services $33K · Total expenses $38K
87%
Management & General
Management & general $5K · Total expenses $38K
13%
Fundraising
Fundraising $0 · Total expenses $38K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $232K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $232K · Total revenue $193K
120%
Government reliance
Government grants — · Total revenue $193K
Earned-income share
Program service revenue $0 · Total revenue $193K
0%
Investment reliance
Investment income $58 · Total revenue $193K
+0.03%
Program self-sufficiency
Program service revenue $0 · Total expenses $38K
0%
Growth & trend
Revenue growth (YoY)
This year $193K · Prior year —
No prior year on file
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 $193K · Expenses $38K
+80%
Liabilities-to-Assets
Total liabilities — · Total assets $219K
Net-asset ratio
Net assets $217K · Total assets $219K
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $219K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Jonathan Wu · Reported title FOUNDER/EXECUTIVE DIRECTOR · Highest reported compensation $0 · Total expenses $38K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $38K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 87%
Overhead ratio 13%
Fundraising cost ratio 0%

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 · funders on record
Grants received · FY2024
Total grants receivedfrom 3 funders$16K
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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
FY2024 (Latest)$51K revenue · ⤓ 990 PDF
FY2023$89K revenue · ⤓ 990 PDF
FY2022$22K revenue · ⤓ 990 PDF
FY2021$193K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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