Px Project INC EIN 85-0830039 Form 990 (PDF) Claim this org

Px Project INC FY2023 filing

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Trains Houston youth for food service careers, transforming their lives. For fiscal year 2023 it reported $291K in revenue, $449K in expenses, and $17K in net assets.Pt I

Type
Public charity (501(c)(3)) · Employment
Location
Houston, TX
Website
www.pxproject.org
Filings
5 on file (2020–2023)
Revenue
$291KFY2023
Expenses
$449K
Net assets
$17K
People
10
Filings
5
Updates
0
More identity details & actions ⌄
EIN  85-0830039 Public charity (501(c)(3)) Houston, TX
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Trains Houston youth for food service careers, transforming their lives.
Leadership
Meredith Davis · Executive Director · $80K
Money in and out
$291K revenue, $449K expenses
Bottom line
68% program efficiency
Where the money goes · FY2023
Total revenue
$291K
Pt VIII · Ln 12
Total expenses
$449K
Pt IX · Ln 25
Net assets
$17K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$158K
Where spending went · Part IX cols B–D
Program services $0.68 Management & general $0.31 Fundraising $0.01
Program efficiency
68%
of spending reaches programs
Operating runway
2.4mo
months of highly liquid reserves at operating expense rate
Surplus margin
-54%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$291K
FY2023▲ +2%
Expenses
$449K
FY2023▲ +7%
Total assets
$93K
FY2023▼ -55%
Total liabilities
$76K
FY2023▲ +133%
Total revenue
$291K
Pt VIII · Ln 12
Total expenses
$449K
Pt IX · Ln 25
Net assets
$17K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$158K
Total assetsPt X · Ln 16$93K
Program-expense ratioPt IX · col B68%
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 CPx Project INC
EINHdr · item D85-0830039
Principal addressHdr · item CHouston, TX
WebsiteHdr · item Jwww.pxproject.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEmployment (J20)
Ruling yearIRS BMFApr 2021

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 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$80,188Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Meredith Davis’s $82K as Executive Director is at the 72nd percentile of top reported officer pay among 1212 $100K–1M employment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Meredith Davis$81,536$80,188$76,250$75,041$53,318

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.

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Mission & Programs · Part III

Where the work happens

1 program service account for $303K of program spending, described in the organization's own filed words · FY2023.
01

PX Project provides disconnected youth (defined as being out of work and out of school ages 16-24) with the opportunity to engage in a supportive community where they will learn life, social and employability skills in a culinary setting.

$303Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$252K · 86%
Other revenue$40K · 14%
Contributions & grants86%$252K
Other revenue14%$40K
Total revenueLn 12$291K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.68 Management & general $0.31 Fundraising $0.01
Program services68%$303K
Management & general31%$140K
Fundraising1%$6K
Total functional expensesLn 25$449K

Balance Sheet

Part X · end of year
CashLn 1$92K
Total assetsLn 16$93K
Total liabilitiesLn 26$76K
Total net assetsLn 32$17K
Months of cash on handcomputed2.4

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $92K · Operating expenses/yr $449K
2.4 months
Where the money goes
Program services
Program services $303K · Total expenses $449K
68%
Management & General
Management & general $140K · Total expenses $449K
31%
Fundraising
Fundraising $6K · Total expenses $449K
1%
Cost to raise $1
Fundraising expense (3-yr avg) $18K · Solicited contributions (3-yr avg) $283K
$0.06 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $252K · Total revenue $291K
86%
Government reliance
Government grants — · Total revenue $291K
Earned-income share
Program service revenue $0 · Total revenue $291K
0%
Investment reliance
Investment income $0 · Total revenue $291K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $449K
0%
Growth & trend
Revenue growth (YoY)
This year $291K · Prior year $286K
+2%
Net-asset trend (YoY)
End of year $17K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $291K · Expenses $449K
-54%
Liabilities-to-Assets
Total liabilities — · Total assets $93K
Net-asset ratio
Net assets $17K · Total assets $93K
18%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $93K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Meredith Davis · Reported title Executive Director · Highest reported compensation $80K · Total expenses $449K
18%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $366K · Total expenses $449K
81%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 68%
Overhead ratio 31%
Fundraising cost ratio 2%
Revenue growth 2%
Accounting fee ratio 4%

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
See all 7 funders →

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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)$660K revenue · ⤓ 990 PDF
FY2023$291K revenue · viewing · ⤓ 990 PDF
FY2022$286K revenue · ⤓ 990 PDF
FY2021$388K revenue · ⤓ 990 PDF
FY2020$366K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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