Preface Project Inc
Nonprofit profile at a glance
- EIN
- 833903496
- IRS 990-EZ coverage
- 2024–2024
- Forms available
- Form 990 2023, Form 990-EZ 2024, Form 990-N 2020
- Location
- Duluth, GA, USA
- Phone
- 4045092195
- Rating
- 93
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Youth Development Programs
Reported finances
- Revenue
- $50,581
- Expenses
- $55,062
- Assets
- $187,295
- Liabilities
- $1,577
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- JONATHAN WU (EXECUTIVE DIRECTOR / BOARD MEMBER)
People named in this filing
- JONATHAN WU (EXECUTIVE DIRECTOR / BOARD MEMBER)
- ANTIGONE VALEN (CFO / BOARD MEMBER)
- DAVID VIA (COO / BOARD MEMBER)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The organization is a charitable nonprofit that jump-starts childhood literacy by pairing high school mentors with elementary school students for virtual and in-person reading sessions, while providing service and scholarship opportunities for the next generation to set them up for a lifetime of learning.
What it reported doing in 2024
Empowering communites to combat early childhood illiteracy through in-person and virtual reading sessions, while also investing in foundational educational opportunities for the next generation, through scholarship and mentorship opportunities.
Operating model
- Revenue model
- Donor-supported. 94% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and liabilities are high compared with assets.
Rating breakdown
- Financial Efficiency: 100
- Transparency & Controls: 93
- Sustainability: 48
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 3rd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -8.9%; rating input score 32; 32nd percentile among comparable filings
- Total-asset coverage ratio: 3.4; rating input score 77; 77th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 29; 29th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 26.6% per year; rating input score 100; 93rd percentile among comparable filings
- Asset growth: 9.3% per year; rating input score 100; 71st percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $55K in reported program spending
- Leadership: top reported pay $0 · 11 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 4 filed schedules
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Sustainability: Operating margin scored 32/100.
- High — Sustainability: Liabilities to assets ratio scored 29/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.