Filter Project INC FY2024 filing

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EIN 99-3694450 Public charity (501(c)(3)) Cordova, TN NTEE Q33
Form 990 (PDF)

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Revenue & expenses by yearFY2024–FY2025
Revenue
$308K
FY2024
Expenses
$132K
FY2024

Form 990 for the fiscal year ending December 2024 (IRS tax year 2024).


Provides safe, filtered drinking water to under-resourced communities in Kenya. For fiscal year 2024 it reported $308K in revenue, $132K in expenses, and $176K in net assets.Pt I

Founded
2024
Type
Public charity (501(c)(3)) · International
Location
Cordova, TN
Website
thefilterproject.org
Filings
2 on file (2024–2024)
Revenue
$308KFY2024
Expenses
$132K
Net assets
$176K
People
5
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Provided by the organization

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Size
$100K–1M
What they do
Provides safe, filtered drinking water to under-resourced communities in Kenya.
Leadership
Dennis Rasche · Director
Money in and out
$308K revenue, $132K expenses
Bottom line
65% program efficiency

What Funders Ask

6 questions, answered from this org's own filings

Will my donation be tax-deductible?

GOOD

Yes — A charitable, religious, educational, scientific, or literary organization. Contributions are generally tax-deductible for donors.

IRS Business Master File records this organization as tax-exempt with deductible contributions. See detail →

Can I donate to this org right now?

GOOD

No revocation on IRS record

This EIN does not appear on the IRS auto-revocation list. See detail →

Is this organization up to date?

GOOD

Yes — filed FY2025

Most recent Form 990 on file is for fiscal year 2025 (1 year ago). See detail →

Is it receiving grants from reputable foundations?

NEUTRAL

No foundation grants on file

No Schedule I/Schedule R grants from other foundations are on file for this EIN. See detail →

How is the money spent?

WARNING

65% to programs

65% of total functional expenses went to program services in the most recent filing (Form 990 Part IX); the rest is overhead and fundraising. See detail →

What's its financial size and trend?

NEUTRAL

$100K–1M

Revenue band $100K–1M. Not enough years on file for a trend. See detail →

Where the money goes · FY2024
Total revenue
$308K
Pt VIII · Ln 12
Total expenses
$132K
Pt IX · Ln 25
Net assets
$176K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $176K
Where spending went · Part IX cols B–D
Program services $0.65 Management & general $0.03 Fundraising $0.33
Program efficiency
65%
of spending reaches programs
Operating runway
16.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
+57%
revenue over expenses, this year

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Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$176K
FY2024
Total liabilities
$0
FY2024
Revenue less expensesPt I · Ln 19$176K
Total assetsPt X · Ln 16$176K
Program-expense ratioPt IX · col B65%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 44

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CFilter Project INC
EINHdr · item D99-3694450
Principal addressHdr · item CCordova, TN
WebsiteHdr · item Jthefilterproject.org
Year of formationHdr · item L2024
State of legal domicileHdr · item MTN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFInternational (Q33)
Ruling yearIRS BMFApr 2025

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b4
Conflict-of-interest policyPt VI · Ln 12aNo
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
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
President and Director
$0Pt VII · Sec A
Secretary and Director
$0Pt VII · Sec A

Elliott Stovall’s $100K as President is at the 82nd percentile of top reported officer pay among 1636 $100K–1M international 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.

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Mission & Programs · Part III

Where the work happens

1 program service account for $86K of program spending, described in the organization's own filed words · FY2024.
01

The Filter Project provides filters to people in Kenya to remove harmful bacteria, protozoa, parasites, cysts, eggs, and microplastics from unclean drinking water. The filter lasts for over 20 years or one million gallons of water and contains no replaceable parts and requires no professional servicing.

$86Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants100%$308K
Total revenueLn 12$308K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.65 Management & general $0.03 Fundraising $0.33
Program services65%$86K
Management & general3%$3K
Fundraising33%$43K
Total functional expensesLn 25$132K

Balance Sheet

Part X · end of year
CashLn 1$176K
Total assetsLn 16$176K
Total liabilitiesLn 26$0
Total net assetsLn 32$176K
Months of cash on handcomputed16.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $176K · Operating expenses/yr $132K
16.0 months
Where the money goes
Program services
Program services $86K · Total expenses $132K
65%
Management & General
Management & general $3K · Total expenses $132K
3%
Fundraising
Fundraising $43K · Total expenses $132K
33%
Cost to raise $1
Fundraising expense $43K · Solicited contributions $308K
$0.14 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $308K · Total revenue $308K
100%
Government reliance
Government grants — · Total revenue $308K
—
Earned-income share
Program service revenue $0 · Total revenue $308K
0%
Investment reliance
Investment income $0 · Total revenue $308K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $132K
0%
Growth & trend
Revenue growth (YoY)
This year $308K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $176K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $308K · Expenses $132K
+57%
Liabilities-to-Assets
Total liabilities — · Total assets $176K
—
Net-asset ratio
Net assets $176K · Total assets $176K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $176K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Dennis Rasche · Reported title Director · Highest reported compensation $0 · Total expenses $132K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $132K
—
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 65%——
Overhead ratio 3%——
Fundraising cost ratio 14%——
Legal fee ratio 1%——

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.

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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
FY2025 (Latest)$695K revenue · ⤓ 990 PDF
FY2024$308K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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