Civic Intelligence

Project Destined Inc.

990 • Fiscal year 2021 • EIN 81-3858986

Jan 01, 2021 to Dec 31, 2021 • Filed on Dec 09, 2022

Organization ProfilePROJECTDESTINED.COM
1623 S Street NWWashington, DC 20009

(202) 294-8643

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.01x

Higher debt load relative to assets than 32% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

22nd percentile

0.00x

Higher debt load relative to revenue than 22% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

69th percentile

26%

Higher net margin than 69% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

98th percentile

347%

Faster asset growth than 98% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2021

Revenue Growth

85th percentile

83%

Faster revenue growth than 85% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2021

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$799,347

Up $759,298 (+1896%) from 2019

Net Assets

Up

$788,660

Up $1,011,449 (+454%) from 2019

Liabilities

Down

$10,687

Down $252,151 (-96%) from 2019

Revenue And Expenses
Liabilities / Revenue22nd percentileNet Margin69th percentile

Revenue

Up

$2,489,521

Up $1,745,168 (+234%) from 2019

Expenses

Up

$1,852,277

Up $1,117,718 (+152%) from 2019

Net Income

Up

$637,244

Up $627,450 (+6406%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$1.0M$500K$0-$500KAssets 2017: $1,883Liabilities 2017: $78,950Net Assets 2017: -$77,0672017Assets 2018: $67,156Liabilities 2018: $299,739Net Assets 2018: -$232,5832018Assets 2019: $40,049Liabilities 2019: $262,838Net Assets 2019: -$222,7892019Assets 2021: $799,347Liabilities 2021: $10,687Net Assets 2021: $788,6602021Assets 2022: $235,225Liabilities 2022: $0Net Assets 2022: $235,2252022Assets 2023: $291,803Liabilities 2023: $0Net Assets 2023: $291,8032023Assets 2024: $113,806Liabilities 2024: $0Net Assets 2024: $113,8062024

Highlighted filing

2021

Assets$799,347
Liabilities$10,687
Net Assets$788,660
Open 2021 Filing

Operations Trend

Revenue Growth85th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2017: $3,422Expenses 2017: $80,489Net Income 2017: -$77,0672017Revenue 2018: $359,543Expenses 2018: $515,059Net Income 2018: -$155,5162018Revenue 2019: $744,353Expenses 2019: $734,559Net Income 2019: $9,7942019Revenue 2021: $2,489,521Expenses 2021: $1,852,277Net Income 2021: $637,2442021Revenue 2022: $3,330,232Expenses 2022: $3,883,667Net Income 2022: -$553,4352022Revenue 2023: $2,644,189Expenses 2023: $2,587,611Net Income 2023: $56,5782023Revenue 2024: $1,442,448Expenses 2024: $1,620,445Net Income 2024: -$177,9972024

Highlighted filing

2021

Revenue$2,489,521
Expenses$1,852,277
Net Income$637,244
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Dec 9, 2022
Return Version
2021v4.2
Gross Receipts
$2,489,521
Mission and Program Overview

Mission

To transform minority youth into owners and stakeholders in the communities in which they live, work and play. With the careful guidance of its leaders, the organization will produce the nation's largest number of minority owners of real estate under the age of 18.

Project destined is 501(c)3 not-for-profit corporation that administers a real estate basedapplied youth education program designed to promote financial literacy, leadership development and access to mentorship opportunities yielding increased competitiveness for urban youth. Across multiple modules, project destined scholars gain exposure to all aspects of the real estate investment life cycle while gaining exposure to real industry professionals, analyzing real estate opportunities and helping to invest real capital into real estate within their own communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$209,439$799,347▲ $589,908
Loans From Officers Directors$58,023$10,687▼ $47,336
Total Assets$209,439$799,347▲ $589,908
Liabilities
Total Liabilities$58,023$10,687▼ $47,336
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$151,416$788,660▲ $637,244
Total Net Assets Fund Balance$151,416$788,660▲ $637,244
Total Liabilities and Net Assets / Fund Balance$209,439$799,347▲ $589,908
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Angela JohnsonDirector
Tj EdwardsDirector
Cedric BoboFounder
Revenue and Support

Revenue Composition

Contributions and Grants
$2,479,831
Program Service Revenue
$9,690
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,479,831
Change in Net Assets
$637,244
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,613,807
Other Expenses$238,470
Total Fundraising Expense$51,800
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,613,807--$1,613,807
Fees for Services Other$87,024--$87,024
Advertising--$51,800$51,800
Travel$30,151$5,321-$35,472
Information Technology$26,103--$26,103
Other Expenses$4,604$3,033-$4,604
Office Expenses-$1,996-$1,996
Total Functional Expenses$1,764,722$35,755$51,800$1,852,277
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
Loans from Officers, Directors, Trustees, and Key Employees$58,023$10,687▼ $47,336
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A copy was provided to the governing body for comments and suggestions before filing with the internal revenue service.”

Form 990, Part VI, Section C, Line 18

“The organization's documents will be provided by the president upon request.”

Form 990, Part VI, Section C, Line 19

“All required documents available for public inspection are provided by the president/founder upon request.”

Filing and Contact Details

Filer

Filer Name
Project Destined Inc
EIN
81-3858986
Phone
2022948643
Address
1623 S STREET NW, WASHINGTON, DC 20009

Signing Officer

Name
Cedric Bobo
Title
Founder
Phone
2022948643
Signed
2022-12-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cedric Bobo
Formed
2017
Legal Domicile
Dc
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
500

Preparer

Firm
Henderson Hutcherson & Mccullough Pllc
Address
1755 KIRBY PARKWAY SUITE 200, MEMPHIS, TN 38120
Preparer
Richard L Webb CPA
Phone
9016834234
Raw XML Appendix328 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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IRS990/ActivityOrMissionDesc0PROJECT DESTINED IS 501(C)3 NOT-FOR-PROFIT CORPORATION THAT ADMINISTERS A REAL ESTATE BASEDAPPLIED YOUTH EDUCATION PROGRAM DESIGNED TO PROMOTE FINANCIAL LITERACY, LEADERSHIP DEVELOPMENT AND ACCESS TO MENTORSHIP OPPORTUNITIES YIELDING INCREASED COMPETITIVENESS FOR URBAN YOUTH. ACROSS MULTIPLE MODULES, PROJECT DESTINED SCHOLARS GAIN EXPOSURE TO ALL ASPECTS OF THE REAL ESTATE INVESTMENT LIFE CYCLE WHILE GAINING EXPOSURE TO REAL INDUSTRY PROFESSIONALS, ANALYZING REAL ESTATE OPPORTUNITIES AND HELPING TO INVEST REAL CAPITAL INTO REAL ESTATE WITHIN THEIR OWN COMMUNITIES.
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0STUDENTS EARN A STIPEND GENERALLY OF $500 FOR COMPLETING THE PROJECT DESTINED PROGRAM. STUDENTS COMPLETE 40+ HOURS OF TRAINING OVER A 9 WEEK PERIOD. THE TRAINING INCLUDES MODULES IN FINANCIAL LITERACY, REAL ESTATE, LEADERSHIP AND ENTREPRENEURSHIP. AS PART OF THE TRAINING, STUDENTS COMPETE IN "SHARK TANK" STYLE COMPETITIONS WHERE THEY PRESENT LIVE REAL ESTATE ACQUISITION OR OPERATING PROPOSALS IN THEIR COMMUNITY. STUDENTS EARN A $500 STIPEND UPON COMPLETION OF THE PROGRAM. THEY CAN ALSO EARN ADDITIONAL SCHOLARSHIPS THROUGH THE PROPOSAL COMPETITIONS LEARNING OBJECTIVES CONSIST OF THE FOLLOWING: *FUNDAMENTALS OF REAL ESTATE INVESTING *TYPES OF REAL ESTATE INVESTMENTS *HOW TO CALCULATE THE RATE OF RETURN *HOW TO CALCULATE CASH FLOW *HOW TO DETERMINE EQUITY *MAXIMIZATION OF LEVERAGE *CAPITALIZATION RATE *STRATEGIES IN ACQUIRING REAL ESTATE *GENERAL TAXATION OF REAL ESTATE *ENHANCE THE ACQUISITION OF REAL ESTATE IN THE COMMUNITY OF MINORITY STUDENTS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S DOCUMENTS WILL BE PROVIDED BY THE PRESIDENT UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL REQUIRED DOCUMENTS AVAILABLE FOR PUBLIC INSPECTION ARE PROVIDED BY THE PRESIDENT/FOUNDER UPON REQUEST.
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0788660
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01764722
IRS990/TotalProgramServiceRevenueAmt09690
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt09690
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02489521
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt0500
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0799347
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt05321
IRS990/TravelGrp/ProgramServicesAmt030151
IRS990/TravelGrp/TotalAmt035472
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IRS990/UnrelatedBusIncmOverLimitInd00
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ReturnHeader/PreparerPersonGrp/PreparationDt02022-12-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD L WEBB CPA
ReturnHeader/ReturnTs02022-12-09T12:40:08-06:00
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ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$799,347
Liabilities
$10,687
Net assets
$788,660
Revenue
$2,489,521
Expenses
$1,852,277
Net income
$637,244
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.11$0.00$0.11$1.44$1.62$0.18
2023Detailed filing. Detailed filing data is available for this year.$0.29$0.00$0.29$2.64$2.59$0.06
2022Detailed filing. Detailed filing data is available for this year.$0.24$0.00$0.24$3.33$3.88$0.55
2021Detailed filing. Detailed filing data is available for this year.$0.80$0.01$0.79$2.49$1.85$0.64
2019Detailed filing. Detailed filing data is available for this year.$0.04$0.26$0.22$0.74$0.73$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.07$0.30$0.23$0.36$0.52$0.16
2017Detailed filing. Detailed filing data is available for this year.$0.00$0.08$0.08$0.00$0.08$0.08