Civic Intelligence

Project Learn Inc % Enterprise Bank & Trust

990 • Fiscal year 2020 • EIN 46-4885366

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 01, 2021

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

42nd percentile

0.02x

Higher debt load relative to assets than 42% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

39th percentile

0.02x

Higher debt load relative to revenue than 39% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

79th percentile

29%

Higher net margin than 79% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

91st percentile

$118,788

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 16.1% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

86th percentile

68%

Faster asset growth than 86% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

88th percentile

63%

Faster revenue growth than 88% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Up

$625,923

Up $253,442 (+68%) from 2019

Net Assets

Up

$613,836

Up $261,342 (+74%) from 2019

Liabilities

Down

$12,087

Down $7,900 (-40%) from 2019

Revenue

Up

$738,638

Up $285,518 (+63%) from 2019

Expenses

Up

$522,889

Up $109,569 (+27%) from 2019

Net Income

Up

$215,749

Up $175,949 (+442%) from 2019

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

2020

Assets$625,923
Liabilities$12,087
Net Assets$613,836

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

2020

Revenue$738,638
Expenses$522,889
Net Income$215,749
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 1, 2021
Return Version
2020v4.0
Gross Receipts
$738,638
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$311,919$425,830▲ $113,911
Cash and Non-Interest-Bearing Accounts$56,406$192,142▲ $135,736
Land, Buildings, and Equipment, Net$973$4,768▲ $3,795
Prepaid Expenses and Deferred Charges$3,183$3,183→ $0
Total Assets$372,481$625,923▲ $253,442
Liabilities
Other Liabilities$18,354$7,670▼ $10,684
Accounts Payable and Accrued Expenses$1,633$4,417▲ $2,784
Total Liabilities$19,987$12,087▼ $7,900
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$352,494$613,836▲ $261,342
Total Net Assets Fund Balance$352,494$613,836▲ $261,342
Total Liabilities and Net Assets / Fund Balance$372,481$625,923▲ $253,442

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,768$4,116$8,884

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$296,215$275,919-$296,215$275,919
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Elizabeth NunnExec. DirectFT$118,788$118,788

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$458,278
Program Service Revenue
$281,602
Investment Income
$-1,242
Other Revenue
$0
All Other Contributions
$458,278
Change in Net Assets
$215,749
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$280,227
Other Expenses$242,662
Total Fundraising Expense$14,111
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$237,055$30,453$12,719$280,227
Occupancy-$17,830-$17,830
All Other Expenses-$9,801$331$10,132
Advertising$170$7,131$304$7,605
Other Expenses$1,196$3,129$127$3,256
Conferences and Meetings-$2,648-$2,648
Insurance-$2,063-$2,063
Depreciation Depletion-$1,464-$1,464
Total Functional Expenses$419,522$89,256$14,111$522,889
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$7,670
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
2021-11-01

Organization Details

Principal Officer
James Sullivan
Formed
2014
Legal Domicile
Ma
Voting Board Members
18
Independent Board Members
17
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/OtherExpensesGrp/ProgramServicesAmt0181101
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IRS990/OtherExpensesGrp/TotalAmt0181101
IRS990/OtherExpensesGrp/TotalAmt111919
IRS990/OtherExpensesGrp/TotalAmt24644
IRS990/OtherExpensesGrp/TotalAmt33256
IRS990/OtherLiabilitiesGrp/BOYAmt018354
IRS990/OtherLiabilitiesGrp/EOYAmt07670
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt012719
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt030453
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0237055
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03183
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IRS990/PrincipalOfficerNm0JAMES SULLIVAN
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IRS990/ProgramServiceRevenueGrp/Desc1PROGRAM SERVICE FEES
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1131610
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IRS990/PYSalariesCompEmpBnftPaidAmt0256252
IRS990/PYTotalExpensesAmt0413320
IRS990/PYTotalRevenueAmt0453120
IRS990/ReconcilationRevenueExpnssAmt0215749
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0311919
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0425830
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0458278
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0448380
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0454178
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt02174482
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0375465
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03910783
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt04859
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01468
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0349
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt034
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt06710
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0537676
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IRS990ScheduleA/PublicSupportTotal170Amt03910783
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0448380
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0454178
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt02174482
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0375465
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03910783
IRS990ScheduleA/TotalSupportAmt03917493
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0275919
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0275919
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0296215
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0296215
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0296215
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt0274500
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IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0274500
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0274500
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt095105
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt016672
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0108090
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0108090
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt0143702
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IRS990ScheduleD/EquipmentGrp/BookValueAmt04768
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04116
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt08884
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07670
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/TotalBookValueLandBuildingsAmt04768
IRS990ScheduleD/TotalLiabilityAmt07670
IRS990/ScheduleJRequiredInd0false
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/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
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IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0372481
IRS990/TotalAssetsEOYAmt0625923

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