Project 40 31 Inc

Nonprofit profile at a glance

EIN
274203557
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Hobbs, NM, USA
Phone
5756318270
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
Emergency Assistance

Reported finances

Revenue
$745,319
Expenses
$768,010
Assets
$40,707
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JUSTIN ROBERTS (PRESIDENT)
  • HAYDEN HOLUB (VICE PRESIDENT)

People named in this filing

  • BRIDGETTE CURTIS (BOARD MEMBER)
  • SCOTT CURTIS (BOARD MEMBER)
  • CLAY GOODWIN (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. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Project 40:31, inc. Raises funds from an annual golf tournament and charity auction. All net proceeds are distributed to IRS approved non-profit entities, such as make a wish, boys and girls club, palmer drug abuse, and habitat for humanity. These entities serve the terminally ill, underserved children, drug dependent, and homeless. Board members, volunteers, and others receive no compensation-reimbursement.

What it reported doing in 2024

The organization held an annual golf tournament to raise funds for the make a wish foundation, habitat for humanity, palmer drug abuse, lovington municipal schools, lovington food coalition, light of lea county, hearts desire, unity recovery solutions, boys and girls club, and other IRS approved non-profit organizations.

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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: 87
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.3%; rating input score 99
  • Program expense ratio: 96.4%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0.05; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 27% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 26.1% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 24th percentile among comparable filings

Details

  • Where the money goes: 99.3% of revenue deployed · 96.4% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $740K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 12 filed related-organization links
  • 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 28/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.