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The B2b Project FY2021 filing

Not tax-deductible

McLean, VA501(c)(6)Community Development EIN 84-4530877Revenue $299K in FY2021

On file with the IRStheb2bproject.org1750 Tysons Blvd Ste 1500, 22102-4200 · McLean, VATax-exempt since Mar 2022

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The purpose of the B2B Project is to achieve diversity of thought, perspective, and experience in the boardroom by (1) developing professional standards for diversity in board composition, (2) establishing best practices for assessing and achieving diverse board composition, and (3) providing a direct conduit to exceptional "board ready" candidates that support diversity in the boardroom.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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 3
filings with a surplus
Average surplus $21K a year · 10% of revenue · last 3 filings
Worth a look: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Cash reserves
5 mo
of spending, in cash
Looks good: 5.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $14K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$7K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$299K
Spent
$210K
Net assets
$125K
By yearFY2021–FY2024
Revenue
$299K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$299K
FY2022$191K
FY2023$139K
FY2024$0
Expenses
$210K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$210K
FY2022$194K
FY2023$162K
FY2024Not on file
Net assets
$125K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$125K
FY2022$121K
FY2023$99K
FY2024$52K

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 Mar 2022.

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

Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Herman Bulls
Director
$0Pt VII · Sec A
Lynn Dugle
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Janet Hill
Director
$0Pt VII · Sec A
Kris Lovejoy
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Carter Reid
Director
$0Pt VII · Sec A
See The B2b 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes boardroom diversity by setting standards, sharing best practices, and connecting companies with qualified candidates.

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Provided by the organization

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1 program · in their own filed words · FY2021
01

Board Diversity

The organization is in the start-up phase of developing professional standards for diversity in board composition, establishing best practices for assessing and achieving diversity in board composition, and providing a direct conduit to exceptional board-ready candidates that support diversity in the boardroom.

Pt IX · col B

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 · FY2023
The B2b Project FoundationFY2023$14K
Total grants receivedfrom 1 funder$14K

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$299K
Ln 12
Fees for servicesLn 2g$240K
Gifts and grantsLn 1h$59K
Money outPt IX
$210K
Ln 25
Owns and owesPt X
$125K
net assets · Ln 32
Cash and savingsLn 1–2$92K
Total assetsLn 16$132K
LiabilitiesLn 26$7K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$59K
Noncash giftsLn 1g$2K
Fees for servicesLn 2g$240K
Total revenueLn 12$299K
Assets in detailPt X, end of year
CashLn 1$92K
Cash and savings togetherLn 1–2$92K
Other assetsLn 15$29
Total assetsLn 16$132K
LiabilitiesLn 26$7K
Net assetsLn 32$125K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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 FY21End FY21
Cash and savingsLn 1–2$35K$92K
Total assetsLn 16$40K$132K
LiabilitiesLn 26$32K$7K
Net assetsLn 32$8K$125K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$178K
Accounting feesLn 11c$5K
Other fees for servicesLn 11g$18K
Information technologyLn 14$4K
Conferences, conventions and meetingsLn 19$4K
InsuranceLn 23$830
Other expenses (24a–d)Ln 24$343
Total functional expensesLn 25$210K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $0$52K 990 PDF
FY2023 $139K$162K−$23K$99K 990 PDF
FY2022 $191K$194K−$4K$121K 990 PDF
FY2021 Viewing $299K$210K$90K$125K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $299,369 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $500$59,393
I-9 Program service revenuePrior year $40,000$239,976
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $40,500$299,369
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $32,184$209,799
I-18 Total expensesPrior year $32,184$209,799
I-19 Revenue less expensesPrior year $8,316$89,570
Part VI · Governance 9 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $299,369 across 6 lines filed
VIII-1b Membership dues$16,750
VIII-1f All other contributions, gifts and grants$42,643
VIII-1g Noncash contributions (included above)$2,292
VIII-1h Total contributions, gifts and grants$59,393
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $239,976$239,976
VIII-12 Total revenueRelated to mission $239,976 · Unrelated business $0 · Excluded from tax $0$299,369
Part IX · Statement of functional expenses $209,799 across 7 lines filed
IX-11a Management fees$178,414
IX-11c Accounting fees$4,570
IX-11g Other fees for services$17,750
IX-14 Information technology$4,392
IX-19 Conferences, conventions and meetings$3,500
IX-23 Insurance$830
IX-24 Other expenses (24a–d)$343
IX-25 Total functional expenses$209,799
Part X · Balance sheet $131,986 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $35,316$91,957
X-4 Accounts receivableStart of year $5,000$40,000
X-15 Other assetsStart of year $0$29
X-16 Total assetsStart of year $40,316$131,986
X-17 Accounts payable and accrued expensesStart of year $32,000$5,600
X-25 Other liabilitiesStart of year $0$1,500
X-26 Total liabilitiesStart of year $32,000$7,100
X-27 Net assets without donor restrictionsStart of year $8,316$124,886
X-32 Total net assets or fund balancesStart of year $8,316$124,886
X-33 Total liabilities and net assetsStart of year $40,316$131,986
Part XI · Reconciliation of net assets $124,886 net assets at year end
XI-1 Total revenue$299,369
XI-2 Total expenses$209,799
XI-3 Revenue less expenses$89,570
XI-4 Net assets at start of year$8,316
XI-8 Prior period adjustments$27,000
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$124,886

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

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