Project One Inc

Nonprofit profile at a glance

EIN
611314577
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Louisville, KY, USA
Phone
5027781003
Rating
68
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Employment Procurement Assistance

Reported finances

Revenue
$47,000
Expenses
$44,388
Assets
$47,000
Liabilities
$44,388

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • DR CHARLES KING JR (CEO)

People named in this filing

  • DR CHARLES KING JR (CEO)
  • DR JONATHAN LOTT (CHAIRPERSON)
  • MS ANDREA JACKSON (VICE CHAIR-PERSON)

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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Prepare youth for summer job in the louisville area with the anticipation that this may lead to employment with these companies upon graduation from high school. While preparing these disadvantage youth with an avenue to get into college and further education either in a 4 year college or some training or trade school program

What it reported doing in 2020

Youth summer jobs

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 91
  • Accountability: 82
  • Sustainability: 43
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.2%; rating input score 48
  • Program expense ratio: 51.1%; rating input score 51
  • Fundraising efficiency: $30.44 raised per $1 spent on fundraising; rating input score 71; 71st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 5.6%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 1.06; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -12% per year; rating input score 0; 35th percentile among comparable filings
  • Revenue growth: -6.4% per year; rating input score 0; 45th percentile among comparable filings
  • Asset growth: 4% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 48.2% of revenue deployed · 51.1% of spending went to programs
  • Governance: 12 of 12 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 13 of 15 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules
  • Filing history: 11 filing years from 2010 to 2020
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Mission deployment rate scored 48/100.
  • Review — Financial Efficiency: Program expense ratio scored 51/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.