Civic Intelligence

Project 58

990 • Fiscal year 2016 • EIN 81-2188516

Jan 01, 2016 to Dec 31, 2016 • Filed on May 15, 2017

Organization ProfileN/A
908 Country Club DriveLexington, NC 27292

(336) 609-7122

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Higher debt load relative to assets than 14% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

14th percentile

0.00x

Higher debt load relative to revenue than 14% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

98th percentile

94%

Higher net margin than 98% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Balance Sheet
Liabilities / Assets14th percentile

Assets

$2,171,738

No earlier filing loaded for comparison.

Net Assets

$2,171,663

No earlier filing loaded for comparison.

Liabilities

$75

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin98th percentile

Revenue

$2,299,380

No earlier filing loaded for comparison.

Expenses

$127,717

No earlier filing loaded for comparison.

Net Income

$2,171,663

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0Assets 2016: $2,171,738Liabilities 2016: $75Net Assets 2016: $2,171,6632016Assets 2017: $2,060,875Liabilities 2017: $1,359Net Assets 2017: $2,059,5162017Assets 2018: $1,985,964Liabilities 2018: $0Net Assets 2018: $1,985,9642018Assets 2019: $2,262,194Liabilities 2019: $2,122Net Assets 2019: $2,260,0722019Assets 2020: $1,861,499Liabilities 2020: $2,913Net Assets 2020: $1,858,5862020Assets 2021: $4,313,582Liabilities 2021: $14,087Net Assets 2021: $4,299,4952021Assets 2022: $4,299,600Liabilities 2022: $2,685Net Assets 2022: $4,296,9152022Assets 2023: $3,820,196Liabilities 2023: $5,906Net Assets 2023: $3,814,2902023Assets 2024: $3,866,876Liabilities 2024: $630Net Assets 2024: $3,866,2462024

Highlighted filing

2016

Assets$2,171,738
Liabilities$75
Net Assets$2,171,663
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2016: $2,299,380Expenses 2016: $127,717Net Income 2016: $2,171,6632016Revenue 2017: $188,575Expenses 2017: $300,723Net Income 2017: -$112,1482017Revenue 2018: $403,610Expenses 2018: $477,161Net Income 2018: -$73,5512018Revenue 2019: $820,263Expenses 2019: $546,154Net Income 2019: $274,1092019Revenue 2020: $65,009Expenses 2020: $466,495Net Income 2020: -$401,4862020Revenue 2021: $4,143,078Expenses 2021: $1,751,023Net Income 2021: $2,392,0552021Revenue 2022: $571,742Expenses 2022: $585,064Net Income 2022: -$13,3222022Revenue 2023: $60,080Expenses 2023: $788,700Net Income 2023: -$728,6202023Revenue 2024: $14,936Expenses 2024: $269,180Net Income 2024: -$254,2442024

Highlighted filing

2016

Revenue$2,299,380
Expenses$127,717
Net Income$2,171,663
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 15, 2017
Return Version
2016v3.0
Gross Receipts
$2,299,380
Mission and Program Overview

Mission

Project 58 is a Christian nonprofit organization that desires to promote the Gospel of Jesus Christ by ministering to the spiritual and physical needs of the people within and around North Carolina. The founders of Project 58 have personally seen how great those needs are, and desire to show Christs love through ministering to those needs. Project 58 intends to minister to the needs of the people of North Carolina in the following areas by using the contributions it receives for the purposes of: (1) providing food and other necessary items; (2) providing medical supplies and programs; (3) providing shelter; (4) supporting other nonprofits in their work; (5) providing counseling and educational programs; and (6) promoting Christian evangelism.Project 58 intends to work through the various means and resources available to Project 58 in order to bring attention to the many spiritual and physical needs of those living in North Carolina. Project 58s founders and directors intend to use thei

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds-$2,171,663-
Land, Buildings, and Equipment, Net-$1,983,554-
Cash and Non-Interest-Bearing Accounts-$188,184-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$0$2,171,738▲ $2,171,738
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses-$75-
Total Liabilities$0$75▲ $75
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$2,171,663▲ $2,171,663
Total Liabilities and Net Assets / Fund Balance$0$2,171,738▲ $2,171,738

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,533,554$16,446$1,550,000
Land$450,000-$450,000
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Roy MorganPresident
Todd BartlettSecretary
Scott Van EerdenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,299,130
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$250
All Other Contributions
$2,299,130
Change in Net Assets
$2,171,663

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Residential1$2,000,000Appraisal
Total Noncash Contributions1$2,000,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$74,875
Other Expenses$52,842
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$74,875--$74,875
Depreciation Depletion-$16,446-$16,446
Fees for Services Legal-$4,783-$4,783
Travel$1,905--$1,905
All Other Expenses$1,231--$1,231
Fees for Services Other$1,000$200-$1,200
Other Expenses$1,093--$1,093
Fees for Services Accounting-$23-$23
Total Functional Expenses$106,265$21,452$0$127,717
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
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, Part VI, Line 11B: Form 990 Review Process

“A copy of the 990 is sent to each officer prior to filing for review and approval.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Project 58
EIN
81-2188516
Address
908 Country Club Drive, Lexington, NC 27292

Signing Officer

Name
Roy Morgan
Title
President
Signed
2017-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Roy Morgan
Formed
2016
Legal Domicile
Nc
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Cornerstone Planning LLC
Address
1136 Sam Newell Road Suite A, Matthews, NC 28105
Preparer
Aaron Joel Salter CPA
Phone
7048490123
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IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A copy of the 990 is sent to each officer prior to filing for review and approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsEOYAmt02171738
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt02171738
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02299130
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt021452
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0106265
IRS990/TotalFunctionalExpensesGrp/TotalAmt0127717
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt075
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt075
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02171663
IRS990/TotalProgramServiceExpensesAmt0106265
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0250
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02299380
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02171738
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ProgramServicesAmt01905
IRS990/TravelGrp/TotalAmt01905
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0908 Country Club Drive
IRS990/USAddress/CityNm0Lexington
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027292
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Roy Morgan
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Project 58
ReturnHeader/Filer/BusinessNameControlTxt0PROJ
ReturnHeader/Filer/EIN0812188516
ReturnHeader/Filer/USAddress/AddressLine1Txt0908 Country Club Drive
ReturnHeader/Filer/USAddress/CityNm0Lexington
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027292
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Cornerstone Planning LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01136 Sam Newell Road Suite A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Matthews
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028105
ReturnHeader/PreparerPersonGrp/PhoneNum07048490123
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Aaron Joel Salter CPA
ReturnHeader/ReturnTs02017-05-15T05:35:53-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,171,738
Liabilities
$75
Net assets
$2,171,663
Revenue
$2,299,380
Expenses
$127,717
Net income
$2,171,663
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.87$0.00$3.87$0.01$0.27$0.25
2023Detailed filing. Detailed filing data is available for this year.$3.82$0.01$3.81$0.06$0.79$0.73
2022Detailed filing. Detailed filing data is available for this year.$4.30$0.00$4.30$0.57$0.59$0.01
2021Detailed filing. Detailed filing data is available for this year.$4.31$0.01$4.30$4.14$1.75$2.39
2020Detailed filing. Detailed filing data is available for this year.$1.86$0.00$1.86$0.07$0.47$0.40
2019Detailed filing. Detailed filing data is available for this year.$2.26$0.00$2.26$0.82$0.55$0.27
2018Detailed filing. Detailed filing data is available for this year.$1.99$0.00$1.99$0.40$0.48$0.07
2017Detailed filing. Detailed filing data is available for this year.$2.06$0.00$2.06$0.19$0.30$0.11
2016Detailed filing. Detailed filing data is available for this year.$2.17$0.00$2.17$2.30$0.13$2.17