Peavey Project INC EIN 87-1481908 Form 990 (PDF) Claim this org

Peavey Project INC FY2023 filing

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Teaches mindfulness to improve health, performance, and communities. For fiscal year 2023 it reported $138K in revenue, $115K in expenses, and $220K in net assets.Pt I

Type
Public charity (501(c)(3)) · Public & Societal Benefit
Location
Henrico, VA
Website
www.thepeaveyproject.org
Filings
3 on file (2021–2023)
Revenue
$138KFY2023
Expenses
$115K
Net assets
$220K
People
10
Filings
3
Updates
0
More identity details & actions ⌄
EIN  87-1481908 Public charity (501(c)(3)) Henrico, VA
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
Teaches mindfulness to improve health, performance, and communities.
Leadership
Collin McConaghy · Officer · $41K
Money in and out
$138K revenue, $115K expenses
Bottom line
58% program efficiency
Where the money goes · FY2023
Total revenue
$138K
Pt VIII · Ln 12
Total expenses
$115K
Pt IX · Ln 25
Net assets
$220K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $23K
Where spending went · Part IX cols B–D
Program services $0.58 Management & general $0.27 Fundraising $0.15
Program efficiency
58%
of spending reaches programs
Operating runway
23.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
+17%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$138K
FY2023▼ -53%
Expenses
$115K
FY2023▼ -47%
Total assets
$220K
FY2023▲ +12%
Total liabilities
$0
FY2023
Total revenue
$138K
Pt VIII · Ln 12
Total expenses
$115K
Pt IX · Ln 25
Net assets
$220K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$23K
Total assetsPt X · Ln 16$220K
Program-expense ratioPt IX · col B58%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPeavey Project INC
EINHdr · item D87-1481908
Principal addressHdr · item CHenrico, VA
WebsiteHdr · item Jwww.thepeaveyproject.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MVA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFPublic & Societal Benefit (W99)
Ruling yearIRS BMFSep 2021

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
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 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$40,846Pt VII · Sec A
$40,846Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Creative Champion
$0Pt VII · Sec A
President of Board
$0Pt VII · Sec A
Lifelong Board Member
$0Pt VII · Sec A
Lifelong Board Member
$0Pt VII · Sec A

Collin McConaghy’s $105K as Officer is at the 78th percentile of top reported officer pay among 1033 $100K–1M public & societal benefit 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 · 2 named individuals · Part VII

NameFY2024FY2023FY2023FY2021
Collin McConaghy$105,000$40,846$77,539$13,539
John E McDonald III$105,000$40,846$77,539$13,538

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

3 program services account for $67K of program spending, described in the organization's own filed words · FY2023.
01

Mindfulness for health and performanceevidence-based and relationship-centric, our four-week course provides participants with the foundational tools to develop their own mindfulness practice as a tool for mental health, elevated performance and ultimately an expanded capacity to positively impact others.

$67Kprogram expense
02

Individual sessionsthrough summit emotional health, we offer individual sessions for clients interested in developing a mindfulness practice as a life skill for stress management, enhanced well-being and peak performance.

Pt IX · col B
03

Individual presentationwe will align the needs of your team with our mindfulness curriculum to maximize the application of this scientifically proven practice within your organization.

Pt IX · col B

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Statement of Revenue

Part VIII
Contributions & grants$94K · 68%
Program service revenue$45K · 32%
Contributions & grants68%$94K
Program service revenue32%$45K
Total revenueLn 12$138K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.58 Management & general $0.27 Fundraising $0.15
Program services58%$67K
Management & general27%$31K
Fundraising15%$17K
Total functional expensesLn 25$115K

Balance Sheet

Part X · end of year
CashLn 1$220K
Total assetsLn 16$220K
Total liabilitiesLn 26$0
Total net assetsLn 32$220K
Months of cash on handcomputed23.0

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $220K · Operating expenses/yr $115K
23.0 months
Where the money goes
Program services
Program services $67K · Total expenses $115K
58%
Management & General
Management & general $31K · Total expenses $115K
27%
Fundraising
Fundraising $17K · Total expenses $115K
15%
Cost to raise $1
Fundraising expense (2-yr avg) $28K · Solicited contributions (2-yr avg) $136K
$0.20 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $94K · Total revenue $138K
68%
Government reliance
Government grants — · Total revenue $138K
Earned-income share
Program service revenue $45K · Total revenue $138K
32%
Investment reliance
Investment income $0 · Total revenue $138K
0%
Program self-sufficiency
Program service revenue $45K · Total expenses $115K
39%
Growth & trend
Revenue growth (YoY)
This year $138K · Prior year $296K
-53%
Net-asset trend (YoY)
End of year $220K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $138K · Expenses $115K
+17%
Liabilities-to-Assets
Total liabilities — · Total assets $220K
Net-asset ratio
Net assets $220K · Total assets $220K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $220K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Collin McConaghy · Reported title OFFICER · Highest reported compensation $41K · Total expenses $115K
36%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $88K · Total expenses $115K
76%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 58%
Overhead ratio 27%
Fundraising cost ratio 19%
Revenue growth -53%
Accounting fee ratio 5%

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 6 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)$325K revenue · ⤓ 990 PDF
FY2023$296K revenue · ⤓ 990 PDF
FY2022not on file
FY2021$67K 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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