Project Echo EIN 95-4580212

Project Echo FY2021 filing

EIN  95-4580212 Public charity (501(c)(3)) Santa Monica, CA
Form 990 (PDF)
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Size
<$100K
What they do
Teaches business and management skills to students.
Leadership
Diane Quast · Executive Director · $40K
Money in and out
$297K revenue, $142K expenses
Bottom line
87% program efficiency

Teaches business and management skills to students. For fiscal year 2021 it reported $297K in revenue, $142K in expenses, and $157K in net assets.Pt I

Where the money goes · FY2021
Total revenue
$297K
Pt VIII · Ln 12
Total expenses
$142K
Pt IX · Ln 25
Net assets
$157K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $156K
Where spending went · Part IX cols B–D
Program services $0.87 Management & general $0.09 Fundraising $0.04
Program efficiency
87%
of spending reaches programs
Operating runway
13.4mo
months of highly liquid reserves at operating expense rate
Surplus margin
+52%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$297K
FY2021▲ +269%
Expenses
$142K
FY2021
Total assets
$158K
FY2021
Total liabilities
$833
FY2021
Total revenue
$297K
Pt VIII · Ln 12
Total expenses
$142K
Pt IX · Ln 25
Net assets
$157K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$156K
Total assetsPt X · Ln 16$158K
Program-expense ratioPt IX · col B87%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49
Mission & Programs · Part III

Where the work happens

3 program services account for $123K of program spending, described in the organization's own filed words · FY2020.
01

Teen innovation and entrepreneurship summer (ties) enrolled more than 15 different high schools, and accounted for 226 students, that participated in a virtual summer program that taught students how to ideate and create a business, and culminated in a virtual showcase event where teens presented their pitch decks.

$59Kprogram expense
02

Launching echo enrolled 17 different high schools, and accounted for 238 students, that participated in a classroom based introduction to entrepreneurship and culminated in a vibrant capstone project, the high school entrepreneurs' business plan competition.

$56Kprogram expense
03

Start-up club was a virtual club started in response to covid, to allow teens from everywhere to participate in an after school entrepreneurship program. The 12 week program brought in guest speakers to help teens learn about entrepreneurship, participate in activities, and join a club with other like minded teens. Free to join.

$8Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProject Echo
EINHdr · item D95-4580212
Principal addressHdr · item CSanta Monica, CA
WebsiteHdr · item Jwww.projectecho.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B90)
Ruling yearIRS BMFNov 1996

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 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Director
$40,000Pt VII · Sec A
Director
$0Pt VII · Sec A
Co-Chair
$0Pt VII · Sec A
Co-Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A

Diane Quast’s $59K as Executive Director is at the 92nd percentile of top reported officer pay among 144 <$100K education 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

NameFY2024FY2023FY2022FY2021FY2021FY2020
Diane Quast$59,004$64,368$60,363$30,000$40,000$35,000

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$170K · 57%
Contributions & grants$128K · 43%
Program service revenue57%$170K
Contributions & grants43%$128K
— government grantsLn 1e$15K
Total revenueLn 12$297K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.87 Management & general $0.09 Fundraising $0.04
Program services87%$123K
Management & general9%$13K
Fundraising4%$6K
Total functional expensesLn 25$142K

Balance Sheet

Part X · end of year
CashLn 1$158K
Total assetsLn 16$158K
Total liabilitiesLn 26$833
Total net assetsLn 32$157K
Months of cash on handcomputed13.4

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $158K · Operating expenses/yr $142K
13.4 months
Where the money goes
Program services
Program services $123K · Total expenses $142K
87%
Management & General
Management & general $13K · Total expenses $142K
9%
Fundraising
Fundraising $6K · Total expenses $142K
4%
Cost to raise $1
Fundraising expense $6K · Solicited contributions $113K
$0.05 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $128K · Total revenue $297K
43%
Government reliance
Government grants $15K · Total revenue $297K
5%
Earned-income share
Program service revenue $170K · Total revenue $297K
57%
Investment reliance
Investment income $0 · Total revenue $297K
0%
Program self-sufficiency
Program service revenue $170K · Total expenses $142K
120%
Growth & trend
Revenue growth (YoY)
This year $297K · Prior year $81K
+269%
Net-asset trend (YoY)
End of year $157K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $297K · Expenses $142K
+52%
Liabilities-to-Assets
Total liabilities — · Total assets $158K
Net-asset ratio
Net assets $157K · Total assets $158K
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $158K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Diane Quast · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $40K · Total expenses $142K
28%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $76K · Total expenses $142K
54%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 87%
Overhead ratio 9%
Fundraising cost ratio 5%
Revenue growth 269%

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 2 funders$35K

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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)$26K revenue · ⤓ 990 PDF
FY2023$73K revenue · ⤓ 990 PDF
FY2022$242K revenue · ⤓ 990 PDF
FY2021$297K revenue · viewing · ⤓ 990 PDF
FY2020$81K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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