Civic Intelligence

Faithx Project Inc.

990EZ • Fiscal year 2022 • EIN 81-4488713

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 16, 2023

PO Box 386Lutherville, MD 21094-0386

(410) 960-3168

Siviq Scores

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

Liabilities / Assets

97th percentile

2.21x

Higher debt load relative to assets than 97% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

93rd percentile

0.70x

Higher debt load relative to revenue than 93% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

18th percentile

-22%

Higher net margin than 18% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

88th percentile

$31,952

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 16.3% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

8th percentile

-58%

Faster asset growth than 8% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

71st percentile

45%

Faster revenue growth than 71% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Down

$61,708

Down $85,145 (-58%) from 2021

Net Assets

Down

-$74,799

Down $114,478 (-289%) from 2021

Liabilities

Up

$136,507

Up $29,333 (+27%) from 2021

Revenue

Up

$195,925

Up $60,751 (+45%) from 2021

Expenses

Up

$239,263

Up $115,533 (+93%) from 2021

Net Income

Down

-$43,338

Down $54,782 (-479%) from 2021

Historical Trend

Balance Sheet Trend

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

$200K$100K$0-$100KAssets 2018: $27,822Liabilities 2018: $02018Assets 2019: $31,944Liabilities 2019: $02019Assets 2020: $157,215Liabilities 2020: $128,9802020Assets 2021: $146,853Liabilities 2021: $107,174Net Assets 2021: $39,6792021Assets 2022: $61,708Liabilities 2022: $136,507Net Assets 2022: -$74,7992022Assets 2023: $121,319Liabilities 2023: $133,643Net Assets 2023: -$12,3242023Assets 2024: $160,823Liabilities 2024: $13,051Net Assets 2024: $147,7722024

Highlighted filing

2022

Assets$61,708
Liabilities$136,507
Net Assets-$74,799

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2018: $73,477Expenses 2018: $51,857Net Income 2018: $21,6202018Revenue 2019: $125,724Expenses 2019: $139,603Net Income 2019: -$13,8792019Revenue 2020: $154,742Expenses 2020: $119,206Net Income 2020: $35,5362020Revenue 2021: $135,174Expenses 2021: $123,730Net Income 2021: $11,4442021Revenue 2022: $195,925Expenses 2022: $239,263Net Income 2022: -$43,3382022Revenue 2023: $393,034Expenses 2023: $351,646Net Income 2023: $41,3882023Revenue 2024: $429,053Expenses 2024: $268,957Net Income 2024: $160,0962024

Highlighted filing

2022

Revenue$195,925
Expenses$239,263
Net Income-$43,338
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 16, 2023
Return Version
2022v5.0
Gross Receipts
$195,925
Mission and Program Overview

Mission

Helpingcongregationssurviveandthriveinchallengingtimes.

Helping congregations survive and thrive in challenging times.

Program Services

DescriptionGrantsExpenses
Implementation of Year One of the Vitality Improvement Program$50,000$153,893
Equipping congregational and judicatory leaders to better understand and more effectively engage the neighborhoods they serve.$0$32,589
Research on congregational vitality and sustainability and related issues.$0$8,150
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kenneth W HowardBoard President Unpaid Executive Director PaidFT$19,472$12,480$31,952
Darren M SladeBoard Secretary Unpaid Research Director PaidPT$3,150-$3,150
David B MaglottBoard Treasurer Unpaid Finance Director Unpaid-$0--
Katie Romano GriffenBoard Member Unpaid-$0--
Lorenzo LebrijaBoard Member Unpaid-$0--
Lawrence ClarkBoard Member Unpaid-$0--
Filing and Contact Details

Filer

Filer Name
Faithx Project Inc
EIN
81-4488713
In Care Of
% Ken Howard
Address
PO BOX 386, LUTHERVILLE, MD 21094-0386

Signing Officer

Name
Kenneth W Howard
Title
Executive Director
Signed
2023-11-16
Supplemental Narrative

Additional Explanations

Part I, line 16

| Other Expenses:, Amount:| Project expenses - Grant-funded program, $58566| Website Social Media Expenses, $6633| Office Supplies Software and Services, $3760| Other General & Administrative Expenses net of reimbursements: $1,570, $1570|

Part II, line 24

| Explanation:, BOYAmount:, EOYAmount:| Accounts Receivable, $7990, $9995|

Part II, line 26

| Explanation:, BOYAmount:, EOYAmount:| EIDL Loan & PPP Loan, $71194, $55153| Accrued Expenses, $0, $2340| Deferred Revenues - TWS Grant, $0, $50000| Reserve Loan Fund, $18000, $18000| Accounts payable and credit card liabilities, $0, $11014|

Raw XML Appendix190 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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0| Year:, Amount:, Description:| 2018, 64132, Fees for services| 2019, 107876Fees for services| 2020, 115838Fees for services| 2021, 126206Fees for services| 2022, 89276Fees for services|
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1The FaithX Project continues to operate as a charity and not a foundation. In 2022 we received grant funding to pass the 10% test and anticipate we will have received additional grant funding in 2023 to pass the 33% percentage requirement with existing multi-year grant funding. We also have additional grants pending that will further increase this percentage in the future.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0| Other Expenses:, Amount:| Project expenses - Grant-funded program, $58566| Website Social Media Expenses, $6633| Office Supplies Software and Services, $3760| Other General & Administrative Expenses net of reimbursements: $1,570, $1570|
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1| Explanation:, BOYAmount:, EOYAmount:| Accounts Receivable, $7990, $9995|
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2| Explanation:, BOYAmount:, EOYAmount:| EIDL Loan & PPP Loan, $71194, $55153| Accrued Expenses, $0, $2340| Deferred Revenues - TWS Grant, $0, $50000| Reserve Loan Fund, $18000, $18000| Accounts payable and credit card liabilities, $0, $11014|
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Part II, line 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Part II, line 26
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Kenneth W Howard
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FAITHX PROJECT INC
ReturnHeader/Filer/BusinessNameControlTxt0FAIT
ReturnHeader/Filer/EIN0814488713
ReturnHeader/Filer/ForeignPhoneNum03017043290
ReturnHeader/Filer/InCareOfNm0% Ken Howard
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 386
ReturnHeader/Filer/USAddress/CityNm0LUTHERVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd0210940386
ReturnHeader/ReturnTs02023-11-16T04:40:58-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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