Project Foundation in Louisville, Kentucky (KY)

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Project Foundation
Employer Identification Number (EIN)452979997
Name of OrganizationProject Foundation
In Care of NameAbigail J Mollica
Address322 Meridian Avenue, Louisville, KY 40207
Websitehttp://www.projectfoundation.org
SubsectionCharitable Organization, Educational Organization
Ruling Date09/2014
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period2014
Assets$0
Income$0
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$9,699
Amount of Income$22,971
Form 990 Revenue Amount$22,971
National Taxonomy of Exempt Entities (NTEE)International, Foreign Affairs and National Security: International Development, Relief Services


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Amount of income in 2014: $22,971 (it was $18,028 in 2013)
This organization: 

 $22,971
Other organizations performing similar types of work: 

 $76,802

Assets in 2014: $9,699 (it was $22,530 in 2013)
Project Foundation: 

 $9,699
Other organizations performing similar types of work: 

 $27,506

Expenses in 2013: $5,197
This organization: 

 $5,197
Other organizations performing similar types of work: 

 $66,701

Income to expenses ratio in 2013: 4.4
This organization: 

 4.4
Other organizations performing similar types of work: 

 1.3

Grants share in income in 2013: 99.4%
This organization: 

 99.4%
Other organizations performing similar types of work: 

 51.2%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201120122013
Total revenue$38,578$22,971$18,028
Contributions, gifts, grants, and similar amounts received$38,490$18,930$17,925
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$0$0$0
Investment income$88$216$103
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$0$3,825$0
Gross profit/loss from sales of inventory$0$0$0
Other revenue$0$0$0
Total expenses$3,920$47,930$5,197
Total net assets$34,658$9,699$22,530
Excess/Deficit for the year$34,658$-24,959$12,831
Net assets or fund balances at beginning of year$0$34,658$9,699
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$34,658$9,699$22,530
Balance Sheets
201120122013
Total assets$34,658$9,699$22,530
Total liabilities$0$0$0
Net assets or fund balances$34,658$9,699$22,530
Other Information
201120122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNoNo
Were any significant changes made to the organizing or governing documents?NoNoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNo
Has the organization filed a Form 990-T for the year?NoNoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNoNo
Amount of political expenditures, direct or indirect$0$0$0
Did the organization file Form 1120-POL for this year?NoNoNo
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?NoNoNo
Total amount involved$0$0$0
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities$0$0$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?NoNoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNoNo
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$15,206
Subtotal$82,130
Gifts, grants, contributions, and membership fees received$75,345
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$6,785
Gross receipts from activities that are not an unrelated trade or business under section 513$0
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Less$66,924
Amounts received from disqualified persons$66,924
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$82,537
Public support$82,130
Subtotal$407
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$407
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Akola Project Inc3311 Elm Street, Dallas, TX 75226-2525TX2006-06$821,528
2Vaxtrac Inc1902 Campus Place Ste 9a, Louisville, KY 40299-2375KY2011-07$585,105
3Eyes That See Inc2705 Murray Hill Pike, Louisville, KY 40242KY2011-05$287,347
4Satya Sai Foundation Inc2339 Kentucky Route 1527, Gray, KY 40734KY2012-02$147,009
5Voice For Humanity IncPO BOX 22607, Lexington, KY 40522-2607KY2004-01$120,000
6Hearts Of Hope Inc220 Mercy Lane, Columbia, KY 42728KY2007-06$85,637
7Finding Freedom Through Friendship Inc1781 Eastwood Dr, Lexington, KY 40502-2841KY2010-04$66,006
8East Africa Ventures3537 Castlegatewe Wynd, Lexington, KY 40502KY2012-05$48,475
9Project Foundation322 Meridian Avenue, Louisville, KY 40207KY2014-09$22,971
10Bridging The Gap International Inc6465 Striped Bridge Rd, Hopkinsville, KY 42240-9211KY2012-02$14,060
11Actions And Truth Ministries4591 Woolper Road, Petersburg, KY 41080KY2012-06$2,500
12Mountain Of Hope Christian Ministries Inc202 S Maple, Wilmore, KY 40390KY2007-04$2,500
13Pamoja Kenya Mentorship Alliance Pakema12332 Hutton Dr, Walton, KY 41094-9744KY2014-08$1,150
14Dressed In Love Inc2913 Cliffwynde Trce, Louisville, KY 40241-2763KY2011-08$0
15Farova Developmental InitiativeP O Box 767, Mayfield, KY 42066KY2011-05$0
16Film School Africa Inc901 Seneca Park, Lexington, KY 40515KY2014-10$0
17Future Hope Africa Inc115 Canterbury Ct, Princeton, KY 42445KY2013-12$0
18Marcelo Family Foundation2772 Lockhurst Road, Lexington, KY 40517KY2013-09$0
19Nulife Ministry10902 Sun Ridge Rd, Goshen, KY 40026KY2012-09$0
20Ru Willing And Abell Inc1034 Devane Ln, Frankfort, KY 40601-8467KY2010-01$0
Number of organizations performing similar types of work
Alaska8
Alabama23
Arkansas17
Arizona60
California641
Colorado99
Connecticut45
District of Columbia104
Delaware17
Florida255
Georgia150
Hawaii7
Iowa24
Idaho15
Illinois123
Indiana71
Kansas24
Kentucky28
Louisiana19
Massachusetts134
Maryland185
Maine25
Michigan100
Minnesota127
Missouri41
Mississippi10
Montana11
North Carolina91
North Dakota5
Nebraska15
New Hampshire16
New Jersey97
New Mexico20
Nevada24
New York344
Ohio83
Oklahoma46
Oregon66
Pennsylvania104
Rhode Island6
South Carolina28
South Dakota3
Tennessee66
Texas262
Utah47
Virginia169
Vermont13
Washington145
Wisconsin45
West Virginia8
Wyoming1
International15
Total4,082

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