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The B2b Project FY2023 filing

Not tax-deductible

McLean, VA501(c)(6)Community Development EIN 84-4530877Revenue $139K in FY2023

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

Before you give

FY2023 · 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
1 mo
of spending, in cash
Fine: 1.2 months of spending in cash; 1 to 3.
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
$34K
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$139K
-27% vs prior year
Spent
$162K
Net assets
$99K
By yearFY2021–FY2024
Revenue
$139K
FY2023▼ -27%
Tap a bar for its year
Revenue by fiscal year
FY2021$299K
FY2022$191K
FY2023$139K
FY2024$0
Expenses
$162K
FY2023▼ -17%
Tap a bar for its year
Expenses by fiscal year
FY2021$210K
FY2022$194K
FY2023$162K
FY2024Not on file
Net assets
$99K
FY2023▼ -19%
Tap a bar for its year
Net assets by fiscal year
FY2021$125K
FY2022$121K
FY2023$99K
FY2024$52K

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 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
Jane-Scott Cantus
Chair/President
$0Pt VII · Sec A
Julie Bowen
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Herman Bulls
Director
$0Pt VII · Sec A
Kris Lovejoy
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$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 · FY2023
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 FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$139K
Ln 12
Fees for servicesLn 2g$105K
Gifts and grantsLn 1h$34K
Money outPt IX
$162K
Ln 25
Owns and owesPt X
$99K
net assets · Ln 32
Cash and savingsLn 1–2$16K
Total assetsLn 16$133K
LiabilitiesLn 26$34K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$34K
Fees for servicesLn 2g$105K
Total revenueLn 12$139K
Assets in detailPt X, end of year
CashLn 1$16K
Cash and savings togetherLn 1–2$16K
Other assetsLn 15$35K
Total assetsLn 16$133K
LiabilitiesLn 26$34K
Net assetsLn 32$99K
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 FY23End FY23
Cash and savingsLn 1–2$58K$16K
Total assetsLn 16$122K$133K
LiabilitiesLn 26$1K$34K
Net assetsLn 32$121K$99K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$84K
Accounting feesLn 11c$10K
Other fees for servicesLn 11g$31K
Advertising and promotionLn 12$4K
Office expensesLn 13$5K
Information technologyLn 14$2K
Conferences, conventions and meetingsLn 19$21K
InsuranceLn 23$818
Other expenses (24a–d)Ln 24$4K
Total functional expensesLn 25$162K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $0$52K 990 PDF
FY2023 Viewing $139K$162K−$23K$99K 990 PDF
FY2022 $191K$194K−$4K$121K 990 PDF
FY2021 $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 FY2023 990 (6 parts)
Part I · Summary $139,488 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $25,671$34,488
I-9 Program service revenuePrior year $165,000$105,000
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $190,671$139,488
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 $194,326$162,128
I-18 Total expensesPrior year $194,326$162,128
I-19 Revenue less expensesPrior year −$3,655−$22,640
Part VI · Governance 8 of 8 board members independent, 2 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $139,488 across 5 lines filed
VIII-1b Membership dues$28,000
VIII-1d Related organizations$6,488
VIII-1h Total contributions, gifts and grants$34,488
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $105,000$105,000
VIII-12 Total revenueRelated to mission $105,000 · Unrelated business $0 · Excluded from tax $0$139,488
Part IX · Statement of functional expenses $162,128 across 9 lines filed
IX-11a Management fees$84,000
IX-11c Accounting fees$9,849
IX-11g Other fees for services$30,685
IX-12 Advertising and promotion$4,470
IX-13 Office expenses$5,177
IX-14 Information technology$1,928
IX-19 Conferences, conventions and meetings$20,889
IX-23 Insurance$818
IX-24 Other expenses (24a–d)$4,312
IX-25 Total functional expenses$162,128
Part X · Balance sheet $132,846 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $58,446$15,601
X-4 Accounts receivableStart of year $39,000$77,500
X-9 Prepaid expenses and deferred chargesStart of year $6,520$4,643
X-15 Other assetsStart of year $18,265$35,102
X-16 Total assetsStart of year $122,231$132,846
X-17 Accounts payable and accrued expensesStart of year $0$34,255
X-26 Total liabilitiesStart of year $1,000$34,255
X-27 Net assets without donor restrictionsStart of year $121,231$98,591
X-32 Total net assets or fund balancesStart of year $121,231$98,591
X-33 Total liabilities and net assetsStart of year $122,231$132,846
Part XI · Reconciliation of net assets $98,591 net assets at year end
XI-1 Total revenue$139,488
XI-2 Total expenses$162,128
XI-3 Revenue less expenses−$22,640
XI-4 Net assets at start of year$121,231
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$98,591

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

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