Project Founded Incorporated EIN 87-1320681 Form 990 (PDF) Claim this org

Project Founded Incorporated FY2022 filing

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Removing barriers to edtech innovation and adoption to ensure equitable learning for all. For fiscal year 2022 it reported $123K in revenue, $286K in expenses, and $119K in net assets.Pt I

Type
Unknown exempt organization · Nonprofit
Location
Berkeley, CA
Website
www.projectfounded.org
Filings
4 on file (2021–2022)
Revenue
$123KFY2022
Expenses
$286K
Net assets
$119K
People
3
Filings
4
Updates
0
More identity details & actions ⌄
EIN  87-1320681 Unknown exempt organization Berkeley, CA
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Size
<$100K
What they do
Removing barriers to edtech innovation and adoption to ensure equitable learning for all.
Leadership
Sandro Olivieri · CEO · $94K
Money in and out
$123K revenue, $286K expenses
Bottom line
-133% surplus margin
Reported financial activity · FY2022
Total revenue
$123K
Pt VIII · Ln 12
Total expenses
$286K
Pt IX · Ln 25
Net assets
$119K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$164K
Where spending went · Part IX cols B–D
Program services $1.00
Surplus margin
-133%
revenue over expenses, this year
Program spending
100%
of expenses reach programs

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$123K
FY2022▼ -69%
Expenses
$286K
FY2022▲ +144%
Total assets
$119K
FY2022▼ -60%
Total liabilities
$-245
FY2022▼ -102%
Total revenue
$123K
Pt VIII · Ln 12
Total expenses
$286K
Pt IX · Ln 25
Net assets
$119K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$164K
Total assetsPt X · Ln 16$119K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43
Mission & Programs · Part III

Where the work happens

1 program service account for $286K of program spending, described in the organization's own filed words · FY2022.
01

The organization was formed to achieve equitable educational outcomes for all learners byencouraging the innovation and adoption of education technology.

$286Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProject Founded Incorporated
EINHdr · item D87-1320681
Principal addressHdr · item CBerkeley, CA
WebsiteHdr · item Jwww.projectfounded.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFpending

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
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
$93,597Pt VII · Sec A
$67,500Pt VII · Sec A
Board of Director
$0Pt VII · Sec A

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

NameFY2023FY2022
Sandro Olivieri$93,597
Amy Mandrier$8,662$67,500

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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Statement of Revenue

Part VIII
Program service revenue$77K · 62%
Contributions & grants$46K · 38%
Program service revenue62%$77K
Contributions & grants38%$46K
Total revenueLn 12$123K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$286K
Total functional expensesLn 25$286K

Balance Sheet

Part X · end of year
CashLn 1$119K
Total assetsLn 16$119K
Total liabilitiesLn 26$-245
Total net assetsLn 32$119K
Months of cash on handcomputed5.0

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $119K · Operating expenses/yr $286K
5.0 months
Where the money goes
Program services
Program services $286K · Total expenses $286K
100%
Management & General
Management & general $0 · Total expenses $286K
0%
Fundraising
Fundraising $0 · Total expenses $286K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $223K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $46K · Total revenue $123K
38%
Government reliance
Government grants — · Total revenue $123K
Earned-income share
Program service revenue $77K · Total revenue $123K
62%
Investment reliance
Investment income $0 · Total revenue $123K
0%
Program self-sufficiency
Program service revenue $77K · Total expenses $286K
27%
Growth & trend
Revenue growth (YoY)
This year $123K · Prior year $400K
-69%
Net-asset trend (YoY)
End of year $119K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $123K · Expenses $286K
-133%
Liabilities-to-Assets
Total liabilities — · Total assets $119K
Net-asset ratio
Net assets $119K · Total assets $119K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $119K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Sandro Olivieri · Reported title CEO · Highest reported compensation $94K · Total expenses $286K
33%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $101K · Total expenses $286K
35%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Fundraising cost ratio 0%
Revenue growth -69%
Legal fee ratio 0.2%
Accounting fee ratio 0.7%

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 · FY2022
Total grants receivedfrom 1 funder$46K

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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)$130 revenue · ⤓ 990 PDF
FY2023$328 revenue · ⤓ 990 PDF
FY2022$123K revenue · viewing · ⤓ 990 PDF
FY2021$400K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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