Project 1590 Inc

Nonprofit profile at a glance

EIN
815410023
IRS 990-EZ coverage
2018–2024
Forms available
Form 990-EZ 2024
Location
Fairmont, MN, USA
Phone
5072384786
Rating
96
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Improvement, Capacity Building N.E.C.

Reported finances

Revenue
$171,241
Expenses
$197,744
Assets
$154,298

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

People named in this filing

  • STEVE HAWKINS (PAST CHAIR)
  • SAM VIESSELMAN (SECRETARY)
  • JON OMVIG (DIRECTOR)

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

To enhance vitality, livability and health of the greater fairmont community.

What it reported doing in 2024

Various ongoing projects are organized in order to enhance the vitality, livability and health of the greater fairmont community. These projects include kids just wanna have fun, bacon capital USA, martin county know how, celebrating cultures, from the ground up and focus on fairmont.

Operating model

Revenue model
Donor-supported. 92% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 51% for direct work, and 49% for grants.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 99
  • Transparency & Controls: 100
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.6%; rating input score 98

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -15.5%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.78; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: 28.6% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 15.9% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 3.1% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.6% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $193K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Sustainability: Operating margin scored 11/100.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.