Civic Intelligence

The Adventure Project Corp

990 • Fiscal year 2018 • EIN 27-3809595

Nov 01, 2017 to Oct 31, 2018 • Filed on Sep 13, 2019

81 Prospect St Suite 7054Brooklyn, NY 11201

(650) 303-1899

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.33x

Higher debt load relative to assets than 83% of similar nonprofits.

2018 filings • NTEE Q • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

79th percentile

0.19x

Higher debt load relative to revenue than 79% of similar nonprofits.

2018 filings • NTEE Q • $1M-$5M nonprofits • Source year 2018

Net Margin

90th percentile

40%

Higher net margin than 90% of similar nonprofits.

2018 filings • NTEE Q • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

60th percentile

$77,068

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 5.2% of source-year revenue.

2018 filings • NTEE Q • $1M-$5M nonprofits • Source year 2018

Asset Growth

98th percentile

1208%

Faster asset growth than 98% of similar nonprofits.

2018 filings • NTEE Q • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

94th percentile

182%

Faster revenue growth than 94% of similar nonprofits.

2018 filings • NTEE Q • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$830,719

Up $767,187 (+1208%) from 2017

Net Assets

Up

$552,685

Up $580,382 (+2095%) from 2017

Liabilities

Up

$278,034

Up $186,805 (+205%) from 2017

Revenue

Up

$1,494,405

Up $964,506 (+182%) from 2017

Expenses

Up

$893,331

Up $330,975 (+59%) from 2017

Net Income

Up

$601,074

Up $633,531 (+1952%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0-$500KAssets 2014: $18,393Liabilities 2014: $6,834Net Assets 2014: $11,5592014Assets 2015: $125,119Liabilities 2015: $101,502Net Assets 2015: $23,6172015Assets 2016: $124,222Liabilities 2016: $126,581Net Assets 2016: -$2,3592016Assets 2017: $63,532Liabilities 2017: $91,229Net Assets 2017: -$27,6972017Assets 2018: $830,719Liabilities 2018: $278,034Net Assets 2018: $552,6852018Assets 2019: $306,575Liabilities 2019: $235,964Net Assets 2019: $70,6112019Assets 2020: $114,111Liabilities 2020: $141,669Net Assets 2020: -$27,5582020Assets 2021: $74,027Liabilities 2021: $167,560Net Assets 2021: -$93,5332021Assets 2022: $10,381Liabilities 2022: $403,753Net Assets 2022: -$393,3722022Assets 2023: $40,203Liabilities 2023: $314,802Net Assets 2023: -$274,5992023Assets 2024: $362,126Liabilities 2024: $294,653Net Assets 2024: $67,4732024

Highlighted filing

2018

Assets$830,719
Liabilities$278,034
Net Assets$552,685

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2014: $378,928Expenses 2014: $360,895Net Income 2014: $18,0332014Revenue 2015: $480,785Expenses 2015: $468,727Net Income 2015: $12,0582015Revenue 2016: $499,545Expenses 2016: $490,521Net Income 2016: $9,0242016Revenue 2017: $529,899Expenses 2017: $562,356Net Income 2017: -$32,4572017Revenue 2018: $1,494,405Expenses 2018: $893,331Net Income 2018: $601,0742018Revenue 2019: $433,180Expenses 2019: $914,836Net Income 2019: -$481,6562019Revenue 2020: $522,265Expenses 2020: $609,973Net Income 2020: -$87,7082020Revenue 2021: $695,096Expenses 2021: $761,070Net Income 2021: -$65,9742021Revenue 2022: $588,785Expenses 2022: $876,454Net Income 2022: -$287,6692022Revenue 2023: $629,681Expenses 2023: $510,908Net Income 2023: $118,7732023Revenue 2024: $934,807Expenses 2024: $592,735Net Income 2024: $342,0722024

Highlighted filing

2018

Revenue$1,494,405
Expenses$893,331
Net Income$601,074
Jump To
Filing Snapshot
Filing Period
Nov 1, 2017 to Oct 31, 2018
Signed
Sep 13, 2019
Return Version
2017v2.3
Gross Receipts
$1,499,115
Mission and Program Overview

Mission

Our Mission is to "add venture" capital to end extreme poverty by supporting entrepreneurs in developing countries to create jobs and build local capacity to solve some of the world's greatest problems affecting the Environment, Health, Hunger, and Water.

Our mission is to "add venture" capital to support entrepreneurs in developing countries to create jobs and build local capacity to solve some of the world's greatest problems affecting the environment, health, hunger, and water.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$500,590-
Cash and Non-Interest-Bearing Accounts$16,856$168,817▲ $151,961
Pledges and Grants Receivable-$103,721-
Accounts Receivable$25,181$25,242▲ $61
Prepaid Expenses and Deferred Charges-$17,453-
Inventories for Sale or Use$3,824$7,719▲ $3,895
Land, Buildings, and Equipment, Net$2,155$277▼ $1,878
Total Assets$63,532$830,719▲ $767,187
Other Assets Total$15,516$6,900▼ $8,616
Liabilities
Grants Payable-$266,372-
Accounts Payable and Accrued Expenses$91,229$11,662▼ $79,567
Total Liabilities$91,229$278,034▲ $186,805
Net Assets / Fund Balance
Unrestricted Net Assets$-27,697$552,685▲ $580,382
Total Net Assets Fund Balance$-27,697$552,685▲ $580,382
Total Liabilities and Net Assets / Fund Balance$63,532$830,719▲ $767,187

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$277$9,112$9,389
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Rebecca StrawCo-founder aFT$77,068$77,068

Board Members and Trustees

NameTitle
Brady NorvallPresident
Adrienne DorisonDirector
Carrie SandersDirector
Kimberly MasseyDirector
Shawn BuddeDirector
Warren WebsterDirector
Jody LandersCo-founder
Cassie StewartSecretary
Amanda BeiselTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,483,028
Program Service Revenue
$0
Investment Income
$482
Other Revenue
$10,895
All Other Contributions
$1,483,028
Change in Net Assets
$601,074

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Intellectual Property2$39,896Cost of Donated Item
Total Noncash Contributions2$39,896-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,494,405
Revenue Not Reported on Form 990
$5,671
Total Revenue per Audited Statements
$1,500,076
Total Revenue per Form 990
$1,494,405
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$444,750
Other Expenses$246,971
Salaries, Compensation, and Employee Benefits$201,610
Total Fundraising Expense$80,028
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$282,547--$282,547
Foreign Grants$162,203--$162,203
Other Salaries and Wages$50,336$50,337-$100,673
Current Officers, Directors, Trustees, and Key Employees$23,120$23,120$30,827$77,067
Occupancy$28,980$28,978$14,488$72,446
Fees for Services Other$8,163$50,188$10,744$69,095
Information Technology$26,203$21,612$10,848$58,663
Payroll Taxes$5,211$5,148$2,604$12,963
Other Employee Benefits$2,527$6,024$2,356$10,907
Office Expenses$3,703$3,700$1,852$9,255
Fees for Services Accounting$3,494$3,496$1,748$8,738
Travel$3,871$2,640-$6,511
Insurance$810$812$408$2,030
Conferences and Meetings-$1,704$12$1,716
Advertising-$1,691-$1,691
Depreciation Depletion-$1,216-$1,216
All Other Expenses$191$791$94$1,076
Other Expenses$279$355$140$774
Total Functional Expenses$607,546$205,757$80,028$893,331

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$927,216
Expenses per Audited Statements$893,331
Total Expenses per Form 990$893,331
Expenses Not Reported on Form 990$33,885
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Yamba Malawi IncBrooklyn, NY501c3Support Farmers$103,672
Living GoodsSan Francisco, CA501c3Health Care Training$100,000
Kickstart International IncSan Francisco, CA501c3Support Farmers$75,200

International Summary

Spending
$162,203

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland and Greenland)Grants to RecipientsManufacture Stoves--$87,203
Sub-saharan AfricaGrants to RecipientsRehabilitate Wells--$75,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The prepared form 990 and related schedules and forms are reviewed by the members of the governing body before they are filed with tax authorities.

Form 990, Page 6, Part VI, Line 12C

Annually, all directors and officers complete and sign a statement that provides information regarding their interests and those of their family members that could give rise to conflicts. The members of the governing body make determinations of whether a conflict exists and review actual conflicts. Any person with a conflict is prohibited from participating in the governing body's deliberations and decisions in the transaction.

Form 990, Page 6, Part VI, Line 15A

Research is done to offer fair, comparable, and industry-specific wages. Wages and contracts of top management must be approved by the board.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflicts of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Adventure Project
EIN
27-3809595
Phone
6503031899
Address
81 PROSPECT ST SUITE 7054, BROOKLYN, NY 11201

Signing Officer

Name
Rebecca Straw
Title
Co-founder and CEO
Phone
6503031899
Signed
2019-09-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rebecca Straw
Formed
2010
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
7
Employees
5
Volunteers
20

Preparer

Firm
Whylie and Co
Address
25 TAYLOR ST, SAN FRANCISCO, CA 94102
Preparer
Juanetta S Whylie Ea
Phone
4158449797
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Our mission is to "add venture" capital to support entrepreneurs in developing countries to create jobs and build local capacity to solve some of the world's greatest problems affecting the environment, health, hunger, and water.

Form 990, Page 2, Part III, Line 4B

252,200 PEOPLE.

Form 990, Page 2, Part III, Line 4D

Hunger: 80% of the poor in sub-saharan africa work as rural farmers. Each night, 75% of their children go hungry because they struggle to grow enough to feed their families. We equip farmers with irrigation pumps and drought-resistant seeds. 12-15 million farmers in africa would benefit from irrigation. One irrigation pump in kenya can lift a farmer and his family out of poverty and into the middle class in as little as one harvest. In malawi, farmers are equipped with all the tools and skills needed to move to climate-resistant crops that survive long droughts. On average, each farmer grows enough to sell produce to 50 community members, and earns enough to send one child to school for the first time.

Form 990, Part XI, Line 9

Loss on uncollectible pledge -25,000 25,000 previously reported contribution became uncollectible.

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Cogs - shipping & misc 2,171

Schedule D, Page 4, Part XII, Line 2D

Uncollectible grant 25,000 misc expenses 8,077

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IRS990/MissionDesc0OUR MISSION IS TO "ADD VENTURE" CAPITAL TO SUPPORT ENTREPRENEURS IN DEVELOPING COUNTRIES TO CREATE JOBS AND BUILD LOCAL CAPACITY TO SOLVE SOME OF THE WORLD'S GREATEST PROBLEMS AFFECTING THE ENVIRONMENT, HEALTH, HUNGER, AND WATER.
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IRS990/OtherExpensesGrp/Desc0MERCHANT ACCOUNT FEES
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IRS990/OtherExpensesGrp/Desc2TELEPHONE & COMMUNICATION
IRS990/OtherExpensesGrp/Desc3COMPLIANCE PROCESSING
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IRS990/PrincipalOfficerNm0REBECCA STRAW
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IRS990/ProgSrvcAccomActy2Grp/Desc0ENVIRONMENT: COOKING OVER OPEN FIRES IS ONE OF THE WORLD'S BIGGEST, BUT LEAST KNOWN, KILLERS. 4.3 MILLION PEOPLE DIE EACH YEAR FROM BREATHING IN TOXIC COOKING SMOKE. STOVES ARE MADE LOCALLY AND SOLD BY MEN AND WOMEN IN KENYA. BOTH MASONS AND VENDORS EARN COMMISSION FOR EVERY SALE. EACH STOVE SAVES A FAMILY 20% OF THEIR DAILY EXPENSES, BECAUSE THEY USE 50% LESS CHARCOAL PER DAY. ONE STOVE SAVES SIX TREES FROM BEING TURNED INTO CHARCOAL EACH YEAR AND REDUCES CARBON EMISSIONS BY 1.5 TONS. TO DATE, AND PARTNERING WITH ENERGY4IMPACT, WE HAVE CREATED JOBS FOR 226 STOVE ENTREPRENEURS IN HAITI, KENYA, AND TANZANIA. THEY HAVE MANUFACTURED 103,484 FUEL-EFFICIENT STOVES, IMPACTING OVER 252,200 PEOPLE.
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt087203
IRS990/ProgSrvcAccomActy3Grp/Desc0HEALTH: EVERY MINUTE, SIX CHILDREN DIE IN THE DEVELOPING WORLD BECAUSE THEY DO NOT HAVE ACCESS TO BASIC MEDICINES-TREATMENTS THAT COSTS LESS THAN A CUP OF COFFEE. WE TRAIN LOCAL LEADERS TO BECOME HEALTH CARE WORKERS SO THEY CAN EARN A LIVING SELLING OVER 60 PRODUCTS AT AFFORDABLE PRICES. EACH PERSON CARES FOR APPROXIMATELY 800 PEOPLE IN THEIR COMMUNITY, GIVING SPECIAL ATTENTION TO PREGNANT MOTHERS AND YOUNG CHILDREN. HEALTH CARE WORKERS HAVE REDUCED CHILD MORTALITY BY 25% IN THEIR COMMUNITIES.
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IRS990/ProgSrvcAccomActy3Grp/GrantAmt0100000
IRS990/ProgSrvcAccomActyOtherGrp/Desc0HUNGER: 80% OF THE POOR IN SUB-SAHARAN AFRICA WORK AS RURAL FARMERS. EACH NIGHT, 75% OF THEIR CHILDREN GO HUNGRY BECAUSE THEY STRUGGLE TO GROW ENOUGH TO FEED THEIR FAMILIES. WE EQUIP FARMERS WITH IRRIGATION PUMPS AND DROUGHT-RESISTANT SEEDS. 12-15 MILLION FARMERS IN AFRICA WOULD BENEFIT FROM IRRIGATION. ONE IRRIGATION PUMP IN KENYA CAN LIFT A FARMER AND HIS FAMILY OUT OF POVERTY AND INTO THE MIDDLE CLASS IN AS LITTLE AS ONE HARVEST. IN MALAWI, FARMERS ARE EQUIPPED WITH ALL THE TOOLS AND SKILLS NEEDED TO MOVE TO CLIMATE-RESISTANT CROPS THAT SURVIVE LONG DROUGHTS. ON AVERAGE, EACH FARMER GROWS ENOUGH TO SELL PRODUCE TO 50 COMMUNITY MEMBERS, AND EARNS ENOUGH TO SEND ONE CHILD TO SCHOOL FOR THE FIRST TIME.
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IRS990ScheduleD/RevenueSubtotalAmt01494405
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0COGS - SHIPPING & MISC 2,171
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1UNCOLLECTIBLE GRANT 25,000 MISC EXPENSES 8,077
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0EUROPE (INCLUDING ICELAND AND GREENLAND)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1SUB-SAHARAN AFRICA
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0MANUFACTURE STOVES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt1REHABILITATE WELLS
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0GRANTS TO RECIPIENTS
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1GRANTS TO RECIPIENTS
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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0MANUFACTURE STOVES
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt1REHABILITATE WELLS
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0EUROPE (INCLUDING ICELAND AND GREENLAND)
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt1SUB-SAHARAN AFRICA
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IRS990ScheduleF/SubtotalSpentAmt0162203
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0ALL GRANT RECIPIENTS MUST SIGN AN AGREEMENT AND THE MEMBERS OF THE GOERNING BODY REVIEW THE STATUS OF GRANT-FUNDED PROJECTS ON A QUARTERLY BASIS.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt1EUROPE (INCLUDING ICELAND AND GREENLAND) 87,203 0 SUB-SAHARAN AFRICA 75,000 0
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION USES THE ACCRUAL METHOD OF ACCOUNTING TO ACCOUNT FOR EXPENSES ON THEIR FINANCIAL STATEMENTS.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE F, PAGE 1, PART I, LINE 2
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE F, PAGE 1, PART I, LINE 3
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE F, PAGE 5, PART V
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IRS990ScheduleI/RecipientTable/IRCSectionDesc1501C3
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SUPPORT FARMERS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SUPPORT FARMERS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2HEALTH CARE TRAINING

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