Civic Intelligence

Project Learn Inc % Enterprise Bank & Trust

990 • Fiscal year 2019 • EIN 46-4885366

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 08, 2020

8 Kirk StreetLowell, MA 01852

(978) 455-9775

Siviq Scores

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

Liabilities / Assets

74th percentile

0.05x

Higher debt load relative to assets than 74% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

77th percentile

0.04x

Higher debt load relative to revenue than 77% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

61st percentile

8.8%

Higher net margin than 61% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

98th percentile

$100,681

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 22.2% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

63rd percentile

11%

Faster asset growth than 63% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

47th percentile

-0.6%

Faster revenue growth than 47% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Up

$372,481

Up $36,918 (+11%) from 2018

Net Assets

Up

$352,494

Up $39,918 (+13%) from 2018

Liabilities

Down

$19,987

Down $3,000 (-13%) from 2018

Revenue

Down

$453,120

Down $2,526 (-0.6%) from 2018

Expenses

Up

$413,320

Up $120,119 (+41%) from 2018

Net Income

Down

$39,800

Down $122,645 (-75%) from 2018

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2014: $19Liabilities 2014: $02014Assets 2015: $198,042Liabilities 2015: $4,315Net Assets 2015: $193,7272015Assets 2016: $246,880Liabilities 2016: $21,071Net Assets 2016: $225,8092016Assets 2017: $160,123Liabilities 2017: $9,992Net Assets 2017: $150,1312017Assets 2018: $335,563Liabilities 2018: $22,987Net Assets 2018: $312,5762018Assets 2019: $372,481Liabilities 2019: $19,987Net Assets 2019: $352,4942019Assets 2020: $625,923Liabilities 2020: $12,087Net Assets 2020: $613,8362020Assets 2021: $717,279Liabilities 2021: $14,896Net Assets 2021: $702,3832021Assets 2022: $872,064Liabilities 2022: $68,118Net Assets 2022: $803,9462022Assets 2023: $886,937Liabilities 2023: $74,352Net Assets 2023: $812,5852023Assets 2024: $963,711Liabilities 2024: $37,668Net Assets 2024: $926,0432024

Highlighted filing

2019

Assets$372,481
Liabilities$19,987
Net Assets$352,494

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2014: $20Expenses 2014: $1Net Income 2014: $192014Revenue 2015: $244,166Expenses 2015: $73,482Net Income 2015: $170,6842015Revenue 2016: $385,099Expenses 2016: $353,016Net Income 2016: $32,0832016Revenue 2017: $214,831Expenses 2017: $290,509Net Income 2017: -$75,6782017Revenue 2018: $455,646Expenses 2018: $293,201Net Income 2018: $162,4452018Revenue 2019: $453,120Expenses 2019: $413,320Net Income 2019: $39,8002019Revenue 2020: $738,638Expenses 2020: $522,889Net Income 2020: $215,7492020Revenue 2021: $734,181Expenses 2021: $645,633Net Income 2021: $88,5482021Revenue 2022: $1,051,338Expenses 2022: $864,316Net Income 2022: $187,0222022Revenue 2023: $1,036,063Expenses 2023: $1,066,505Net Income 2023: -$30,4422023Revenue 2024: $1,154,163Expenses 2024: $1,069,462Net Income 2024: $84,7012024

Highlighted filing

2019

Revenue$453,120
Expenses$413,320
Net Income$39,800
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 8, 2020
Return Version
2019v5.0
Gross Receipts
$453,120
Mission and Program Overview

Mission

Project learn inc. Provides support to lowell public schools in the form of programs and grant writing.

Project learn inc. Provides support to lowell public schools in the form of programs and grant writing

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$312,097$311,919▼ $178
Cash and Non-Interest-Bearing Accounts$5,845$56,406▲ $50,561
Pledges and Grants Receivable$12,500--
Prepaid Expenses and Deferred Charges$3,799$3,183▼ $616
Land, Buildings, and Equipment, Net$1,322$973▼ $349
Total Assets$335,563$372,481▲ $36,918
Liabilities
Other Liabilities$15,162$18,354▲ $3,192
Accounts Payable and Accrued Expenses$7,825$1,633▼ $6,192
Total Liabilities$22,987$19,987▼ $3,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$38,076$352,494▲ $314,418
Net Assets With Donor Restrictions$274,500--
Total Net Assets Fund Balance$312,576$352,494▲ $39,918
Total Liabilities and Net Assets / Fund Balance$335,563$372,481▲ $36,918

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$973$2,652$3,625

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$274,500$296,215-$274,500$296,215
2018$16,672$274,500-$16,672$274,500
2017$108,090$95,105-$186,523$16,672
2016$143,702$108,090-$143,702$108,090
2015-$143,702--$143,702
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Elizabeth NunnExec. DirectFT$100,681$100,681

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$195,804
Program Service Revenue
$252,576
Investment Income
$4,740
Other Revenue
$0
All Other Contributions
$195,804
Change in Net Assets
$39,800
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$256,252
Other Expenses$157,068
Total Fundraising Expense$10,429
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$105,549$5,331$4,803$115,683
Current Officers, Directors, Trustees, and Key Employees$91,620$6,041$3,020$100,681
Occupancy-$20,947-$20,947
Payroll Taxes$17,358$1,001$689$19,048
Other Employee Benefits-$14,840-$14,840
Advertising$2,925$8,594$472$11,991
All Other Expenses-$6,305$138$6,443
Fees for Services Other$3,018$2,320$928$6,266
Pension Plan Contributions-$6,000-$6,000
Fees for Services Accounting-$3,800-$3,800
Insurance-$2,364-$2,364
Other Expenses$1,194$209$379$1,782
Travel$621$336-$957
Depreciation Depletion-$348-$348
Total Functional Expenses$316,722$86,169$10,429$413,320
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$18,354
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
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
Yes
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

No review was or will be conducted.

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

Board members and employee are required to sign an annual conflict policy

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

Board reviews and approves all compensation packages

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

Board reviews and approves all compensation packages

Form 990, Page 6, Part VI, Line 19

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Project Learn Inc
EIN
46-4885366
Phone
9784559775
Address
8 KIRK STREET, LOWELL, MA 01852

Signing Officer

Name
James Sullivan
Title
Treasurer
Phone
9784559775
Signed
2020-09-08

Organization Details

Principal Officer
James Sullivan
Formed
2014
Legal Domicile
Ma
Voting Board Members
15
Independent Board Members
14
Employees
3

Preparer

Firm
Massimino CPA LLC
Address
1115 WESTFORD ST, LOWELL, MA 01851-2701
Preparer
Marybeth Massimino
Phone
9786746694
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

ST CAPITAL GAIN 0

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

To provide support to lowell public schools in the form of programs

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IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt06000
IRS990/PensionPlanContributionsGrp/TotalAmt06000
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03799
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03183
IRS990/PrincipalOfficerNm0JAMES SULLIVAN
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IRS990/ProgramServiceRevenueGrp/Desc1GRANT ADMIN FEES
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt136391
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt136391
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IRS990/PYTotalExpensesAmt0293201
IRS990/PYTotalRevenueAmt0455646
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0312097
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0311919
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0448380
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0454178
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt02174482
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0375465
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0234562
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03687067
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt04859
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01468
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0349
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt034
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt04
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt06714
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0257316
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IRS990ScheduleA/PublicSupportTotal170Amt03687067
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0454178
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt02174482
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0375465
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0234562
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03687067
IRS990ScheduleA/TotalSupportAmt03693781
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0296215
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0274500
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0274500
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt016672
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IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt095105
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt016672
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0108090
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0108090
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt0143702
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0143702
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0143702
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0973
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02652
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03625
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt018354
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL LIABILITIES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE SUPPORT TO LOWELL PUBLIC SCHOOLS IN THE FORM OF PROGRAMS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/TermEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0973
IRS990ScheduleD/TotalLiabilityAmt018354
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IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS AND EMPLOYEE ARE REQUIRED TO SIGN AN ANNUAL CONFLICT POLICY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD REVIEWS AND APPROVES ALL COMPENSATION PACKAGES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD REVIEWS AND APPROVES ALL COMPENSATION PACKAGES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ST CAPITAL GAIN 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
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IRS990/TaxExemptBondsInd0false
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IRS990/TotalAssetsGrp/BOYAmt0335563
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0195804
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt010429
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt086169

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