Liabilities / Assets
97th percentile
Higher debt load relative to assets than 97% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.77x
Liabilities / Revenue
96th percentile
Higher debt load relative to revenue than 96% of similar nonprofits.
Net Margin
12th percentile
Higher net margin than 12% of similar nonprofits.
Top Officer Pay
94th percentile
Higher top officer pay than 94% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
78th percentile
Faster asset growth than 78% of similar nonprofits.
Revenue Growth
80th percentile
Faster revenue growth than 80% of similar nonprofits.
Balance Sheet
Assets
Up$125,189
Up $20,077 (+19%) from 2014
Net Assets
Down$28,658
Down $76,454 (-73%) from 2014
Liabilities
$96,531
No earlier filing loaded for comparison.
Revenue And Expenses
Revenue
Up$112,840
Up $30,967 (+38%) from 2014
Expenses
Up$189,294
Up $142,323 (+303%) from 2014
Net Income
Down-$76,454
Down $111,356 (-319%) from 2014
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2015 to Dec 31, 2015
- Signed
- Nov 15, 2016
- Return Version
- 2015v2.0
- Gross Receipts
- $120,021
Mission and Program Overview
Mission
Project One provides students from low income, single-parent families with scholarships and tools for college success, including a gifts and talents program, financial literacy, and mentoring.
Program Services
| Description | Grants | Expenses |
|---|---|---|
| Project One ScholarshipsThese scholarships are awarded to 3 new students from the CMS school district. We have developed relationships with guidance counselors in five CMS high schools (Garinger, Olympic, Phillip Berry, West Charlotte, West Meck) over the past several years. Each of these high schools is offered the opportunity to submit qualified students for our application process. These students are then interviewed by a panel that is comprised of Board members, volunteers, and key supporters of our mission. The panel judges each student on motivation, impact of the scholarship, desire to succeed, and leadership abilities.We target high-achieving students that are motivated and demonstrate initiative and leadership during their high school years. Examples include involvement in student government, high school sports, and community service. Additionally, we consider students with part-time and summer work experience as indicators of strong motivation. All while maintaining strong academic grades.Project One currently supports 8 Scholars from this program. The scholarship awards are fully funded and the funds are in reserve for each student. However, we pay the colleges on an annual basis assuming the Scholars remain in good standing with the college and are continuing to meet Project Ones criteria for grades and our support programs.Queens / Project One ScholarshipAnother program that Project One developed is through a partnership with Queens University (Queens). There are outstanding students who attend CPCC each year and transfer to Queens - and also meet the Project One criteria. The goal of the partnership is to identify potential CPCC students who plan to transfer to Queens for the final two years of college. The $15,000 scholarship covers $7,500 for each of the two years at Queens. Queens matches up other financial aid to these students so that they graduate from college with minimal debt. The benefit to Project One is that the Queens scholarships allow us to leverage scholarship dollars (paying only the last 2 years) and introduce a private college into our program while still meeting our mission.Project One currently supports 1 Scholar in this program, with reserves for an additional scholar to be named in 2016.Brookstone Schools / Project One ScholarshipBrookstone Schools (Brookstone) is a private school serving students from Kindergarten through 8th grade. Brookstone seeks to raise up the next generation of leaders from Charlottes inner-city neighborhoods by caring for the entire child and inviting families to invest in the lives of their children. Brookstone alumni recently reached a point where they were beginning to graduate high school and a long-time Brookstone supporter was interested in funding a college education for them. As a result, we were approached to provide our expertise and process for Brookstone alumni where we could make the scholar selection as well as service and administer the scholarship. To maintain our mission integrity, we agreed to this arrangement if we could maintain a focus on Project One criteria (income level, single-parent family focus, etc).Project One is dedicated to expanding college education in Charlotte by providing college scholarships that are eligible to cover the costs of tuition, room/board, and books. But we are more than a scholarship fund. Students have support throughout the course of their programs and scholarships from a mentor, who provides encouragement and perspective during the scholars college years. At the end of four years, our scholars will have a college degree, very little (if any) college debt, and will know how to manage their salary. Importantly, each will have a strong foundation as they set out to make their own mark in the world.Ultimately, our vision for Project One is to help to break the cycle of poverty ONE mind at a time through the POWER of a college education. All of our programs and services support this vision. We are open to collaborating with other charitable organizations. Importantly, we are only interested in partnerships where we can remain true to our mission. | $62,443 | $62,443 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Michael Neal Emmons | Executive Director | FT | $0 | - | - |
| Eduardo Haynes | Chairman | PT | $0 | - | - |
| Scott Nelson | Treasurer | PT | $0 | - | - |
| Lindsay Hazelman | Secretary | PT | $0 | - | - |
| Jeff Rahrig | Director | - | $0 | - | - |
| Deanna Lindquist | Director | - | $0 | - | - |
Fundraising, Events, and Gaming
Fundraising Events
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| Annual Fundraiser and Silent Auction | $35,111 | $2,890 | - | $2,890 |
| Total Events | $35,111 | $2,890 | $7,181 | $-4,291 |
Filing and Contact Details
Filer
- Filer Name
- Project One Scholarship Fund
- EIN
- 27-1000239
- Phone
- 7042414994
- Address
- 2438 Hassell Place, Charlotte, NC 28209
Signing Officer
- Name
- Michael Neal Emmons
- Title
- President
- Signed
- 2016-11-15
- Discuss with paid preparer
- Yes
Preparer
- Firm
- C DeWitt Foard & Co PA CPAs
- Address
- 817 E Morehead Street Ste 100, Charlotte, NC 28202-2767
- Preparer
- Phillip G Wilson
- Phone
- 7043721515
Supplemental Narrative
Additional Explanations
Grants and Similar Amounts Paid In Excess of $5,000.8
“| Description of Property: Scholarship to be paid | Fair Market Value: $14396 | Method Used to Determine FMV: NPV”
Grants and Similar Amounts Paid In Excess of $5,000.9
“| Description of Property: Scholarship to be paid | Fair Market Value: $7317 | Method Used to Determine FMV: NPV”
Grants and Similar Amounts Paid In Excess of $5,000.10
“| Description of Property: Scholarship to be paid | Fair Market Value: $10797 | Method Used to Determine FMV: NPV”
Grants and Similar Amounts Paid In Excess of $5,000.11
“| Description of Property: Scholarship to be paid | Fair Market Value: $17995 | Method Used to Determine FMV: NPV”
Grants and Similar Amounts Paid In Excess of $5,000.15
“Class of Activity: Scholarship paid | Cash Amount Given: $7500”
Grants and Similar Amounts Paid In Excess of $5,000.17
“Class of Activity: Scholarship paid | Cash Amount Given: $6250”
Other Expenses.1001
“Advertising and Promotion $23680”
Other Expenses.1002
“Office Expenses $25”
Other Expenses.1003
“Information Technology $2225”
Other Expenses.1
“Scholarships - 481(a) adjust. $99503”
Other Expenses.2
“Meals & entertainment $1040”
Other Expenses.3
“Dues & subscriptions $430”
Other Expenses.4
“Licenses & Fees $350”
Other Expenses.5
“Bank fees $283”
Other Expenses.6
“Gifts $276”
Total Liabilities.1001
“Accounts Payable and Accrued Expenses - Beginning $0 Accounts Payable and Accrued Expenses - Ending $96531”
Raw XML Appendix195 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | | Description of Property: Scholarship to be paid | Fair Market Value: $10797 | Method Used to Determine FMV: NPV |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | | Description of Property: Scholarship to be paid | Fair Market Value: $17995 | Method Used to Determine FMV: NPV |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | Class of Activity: Scholarship paid | Cash Amount Given: $7500 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | Class of Activity: Scholarship paid | Cash Amount Given: $6250 |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | Office Expenses $25 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | Information Technology $2225 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 9 | Scholarships - 481(a) adjust. $99503 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 10 | Meals & entertainment $1040 |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 14 | Gifts $276 |
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| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 15 | Total Liabilities.1001 |
| ReturnHeader/BuildTS | 0 | 2017-02-10 21:41:12Z |
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| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 7043721515 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | Phillip G Wilson |
| ReturnHeader/ReturnTs | 0 | 2016-11-15T13:03:44-08:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990EZ |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2015-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2015-12-31 |
| ReturnHeader/TaxYr | 0 | 2015 |
Document Assets
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Filings
Displayed year
2015 • Form 990EZDetailed filing. Detailed filing data is available for this year.
- Assets
- $125,189
- Liabilities
- $96,531
- Net assets
- $28,658
- Revenue
- $112,840
- Expenses
- $189,294
- Net income
- -$76,454