Project Scholars Inc
Nonprofit profile at a glance
- EIN
- 542079731
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024, Form 990-EZ 2011
- Location
- Clermont, FL, USA
- Phone
- 4074670685
- Rating
- 46
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Community Foundations
Reported finances
- Revenue
- $173,034
- Expenses
- $213,405
- Assets
- $312,117
- Liabilities
- $69,815
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- Paul Rountree (President)
- Justin Nichols (Vice President)
People named in this filing
- Paul Rountree (President)
- Justin Nichols (Vice President)
- Don Rose (Treasurer)
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
Pig on the Pond was incorporated in October 2002 as a supporting organization of the Community Foundation of South Lake County, Inc. for the purpose of conducting an annual barbecue competition and festival. The net proceeds of the events are used for scholarships and grants.
What it reported doing in 2024
The main purpose of the organization is to raise funds that will be used to provide scholarships to high school students with its primary fundraisers being a community festival as well as donations from individuals.
Operating model
- Revenue model
- Donor-supported. 92% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% 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
MIXED - 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: 19
- Transparency & Controls: 69
- Accountability: 76
- Sustainability: 31
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 22.9%; rating input score 23
- Program expense ratio: 18.6%; rating input score 19
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Scored; rating input score 0
- 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: 3 of 7 controls in place; rating input score 43
- Conflict-of-interest policy: Pass
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -23.3%; rating input score 12; 12th percentile among comparable filings
- Total-asset coverage ratio: 1.46; rating input score 51; 51st percentile among comparable filings
- Liabilities to assets ratio: 0.22; rating input score 19; 19th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: -19.8% per year; rating input score 0; 6th percentile among comparable filings
- Revenue growth: -4.3% per year; rating input score 0; 11th percentile among comparable filings
- Asset growth: 17.3% per year; rating input score 100; 81st percentile among comparable filings
Details
- Where the money goes: 22.9% of revenue deployed · 18.6% of spending went to programs
- Governance: 12 of 12 board members independent · 3 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $40K in reported program spending
- Leadership: top reported pay $0 · 11 people listed
- Consistency: 20 of 20 current checks pass
- Schedules: 6 filed schedules · includes major donors and grants
- Filing history: 12 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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 — Financial Efficiency: Mission deployment rate scored 23/100.
- High — Financial Efficiency: Program expense ratio scored 19/100.
- High — Transparency & Controls: Grant itemization coverage scored 0/100.
- Moderate — Accountability: Governance controls: 3 of 6 not reported.
- High — Sustainability: Operating margin scored 12/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Sustainability: Total-asset coverage ratio scored 51/100.
- High — Sustainability: Liabilities to assets ratio scored 19/100.