Civic Intelligence

Project Invent

990 • Fiscal year 2022 • EIN 82-4377729

Jul 01, 2021 to Jun 30, 2022 • Filed on Oct 10, 2022

Organization Profilewww.projectinvent.org

View Organization Page

2261 Market Street STE 4624San Francisco, CA 94114

(510) 371-5425

Siviq Scores

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

Liabilities / Assets

39th percentile

0.03x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

29th percentile

0.01x

Higher debt load relative to revenue than 29% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

65th percentile

16%

Higher net margin than 65% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

52nd percentile

$62,404

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 6.2% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

86th percentile

42%

Faster asset growth than 86% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

90th percentile

94%

Faster revenue growth than 90% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets39th percentile

Assets

Up

$570,134

Up $167,657 (+42%) from 2021

Net Assets

Up

$555,173

Up $157,206 (+40%) from 2021

Liabilities

Up

$14,961

Up $10,451 (+232%) from 2021

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin65th percentile

Revenue

Up

$1,005,665

Up $488,566 (+94%) from 2021

Expenses

Up

$848,459

Up $482,122 (+132%) from 2021

Net Income

Up

$157,206

Up $6,444 (+4.3%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$1.0M$500K$0Assets 2019: $49,544Liabilities 2019: $4,735Net Assets 2019: $44,8092019Assets 2020: $250,770Liabilities 2020: $3,565Net Assets 2020: $247,2052020Assets 2021: $402,477Liabilities 2021: $4,510Net Assets 2021: $397,9672021Assets 2022: $570,134Liabilities 2022: $14,961Net Assets 2022: $555,1732022Assets 2023: $845,763Liabilities 2023: $300,772Net Assets 2023: $544,9912023Assets 2024: $688,488Liabilities 2024: $184,593Net Assets 2024: $503,8952024

Highlighted filing

2022

Assets$570,134
Liabilities$14,961
Net Assets$555,173
Open 2022 Filing

Operations Trend

Revenue Growth90th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2019: $57,014Expenses 2019: $32,740Net Income 2019: $24,2742019Revenue 2020: $413,081Expenses 2020: $211,614Net Income 2020: $201,4672020Revenue 2021: $517,099Expenses 2021: $366,337Net Income 2021: $150,7622021Revenue 2022: $1,005,665Expenses 2022: $848,459Net Income 2022: $157,2062022Revenue 2023: $1,138,802Expenses 2023: $1,148,984Net Income 2023: -$10,1822023Revenue 2024: $1,136,463Expenses 2024: $1,177,559Net Income 2024: -$41,0962024

Highlighted filing

2022

Revenue$1,005,665
Expenses$848,459
Net Income$157,206
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Oct 10, 2022
Return Version
2021v4.0
Gross Receipts
$1,024,349
Mission and Program Overview

Mission

Project Invent empowers students with the 21st century skills to succeed individually and impact globally, through invention.

Project Invent empowers students with the 21st-century skills to succeed individually and impact globally, through invention for social good.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$201,495$314,032▲ $112,537
Savings and Temporary Cash Investments$200,982$200,813▼ $169
Accounts Receivable-$54,210-
Prepaid Expenses and Deferred Charges-$1,079-
Total Assets$402,477$570,134▲ $167,657
Liabilities
Accounts Payable and Accrued Expenses$4,510$14,961▲ $10,451
Total Liabilities$4,510$14,961▲ $10,451
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$397,967$555,173▲ $157,206
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$397,967$555,173▲ $157,206
Total Liabilities and Net Assets / Fund Balance$402,477$570,134▲ $167,657
Compensation and Service Providers
Top Officer Pay52nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Connie LiuFounder & Executive DirectorFT$56,808$5,596$62,404

Board Members and Trustees

NameTitle
Bill HeilBoard Member Development Committee Chair
Albert LeeBoard Member Programs Committee Chair
Cynthia JohansonSecretary Nominating Committee Chair
Matt GallatinTreasurer Finance Committee Chair
Aragon BurlinghamPresident
Ali MojibiBoard Member
Ann Crady WeissBoard Member
Babak MostaghimiBoard Member
Lillian HsuBoard Member
Orly FriedmanBoard Member
Steven KetchpelBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$949,928
Program Service Revenue
$70,500
Investment Income
$1,381
Other Revenue
$-16,144
All Other Contributions
$803,167
Change in Net Assets
$157,206
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$607,077
Other Expenses$221,632
Total Fundraising Expense$98,205
Grants and Similar Amounts Paid$19,750
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$337,578$65,330$61,876$464,784
Fees for Services Other$41,727$24,487$14,035$80,249
Current Officers, Directors, Trustees, and Key Employees$45,325$8,772$8,308$62,405
Other Employee Benefits$31,744$6,143$5,818$43,705
Office Expenses$29,206$9,037$3,351$41,594
Payroll Taxes$26,280$5,086$4,817$36,183
Travel$25,698--$25,698
Conferences and Meetings$12,723$1,701-$14,424
Grants to Domestic Individuals$12,210--$12,210
Other Expenses$8,955$0$0$8,955
Advertising$8,188$600-$8,788
Grants to Domestic Orgs$7,540--$7,540
Insurance-$3,724-$3,724
Fees for Services Accounting-$1,944-$1,944
Occupancy$0$700-$700
Fees for Services Legal-$217-$217
Total Functional Expenses$618,081$132,173$98,205$848,459
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$18,684
Fundraising Gross Income$2,205
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
State of the Community$31,697$0$0$0
Future Fest$117,269$2,205$3,250$-1,045
Total Events$148,966$2,205$18,684$-16,479
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
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, Section B, Line 11B

“The 990 is given to the board for review prior to filing with the IRS.”

Form 990, Part VI, Section B, Line 12C

“Board members must inform the Board prior to the entry into any transaction or arrangement that involves an actual or potential conflict of interest, including all material facts relating thereto. Such disclosures shall be made in advance, before any action is taken on the matter. The Board will evaluate conflict disclosures and make other necessary inquiries to determine the extent and nature of any actual or potential conflict of interest and, if appropriate, investigate alternatives to the proposed transaction or arrangement. An interested person will recuse himself or herself from deliberations and voting relating to the matter and shall refrain from attempting to influence other decision-makers relating to the matter.”

Form 990, Part VI, Section B, Line 15

“The Board of Directors reviewed compensation data for executive directors, broken down by factors such as budget size, employee count, tenure, region of the country and looked for level that corresponded to a point in the 75th and 90th percentile of the distribution, given the consistently excellent performance of our executive director.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Project Invent
EIN
82-4377729
Phone
5103715425
Address
2261 Market Street STE 4624, San Francisco, CA 94114

Signing Officer

Name
Jax Chaudhry
Title
Executive Director
Phone
7608057638
Signed
2022-10-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jax Chaudhry
Formed
2018
Legal Domicile
CA
Voting Board Members
11
Independent Board Members
11
Employees
8
Volunteers
128

Preparer

Firm
Shelby Malvoso CPA
Address
360 Grand Ave 408, Oakland, CA 94610
Preparer
Shelby Malvoso
Phone
5104736240
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 1

“The organization changed from cash basis to accrual basis accounting in FYE06/22.”

Raw XML AppendixShowing 400 of 550 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/Desc0Trained and supported teachers at 60 schools to implement the Project Invent program. Hosted sevon Demo Days for students to present inventions to top investors and tech executives. Published curriculum and resources used in over 3000 classrooms.
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IRS990/OfficeExpensesGrp/FundraisingAmt03351
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt09037
IRS990/OfficeExpensesGrp/ProgramServicesAmt029206
IRS990/OfficeExpensesGrp/TotalAmt041594
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt05818
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt06143
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt031744
IRS990/OtherEmployeeBenefitsGrp/TotalAmt043705
IRS990/OtherExpensesGrp/Desc0Program event
IRS990/OtherExpensesGrp/Desc1Program expenses
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt04432
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt10
IRS990/OtherExpensesGrp/ProgramServicesAmt030907
IRS990/OtherExpensesGrp/ProgramServicesAmt18955
IRS990/OtherExpensesGrp/TotalAmt035339
IRS990/OtherExpensesGrp/TotalAmt18955
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt061876
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt065330
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0337578
IRS990/OtherSalariesAndWagesGrp/TotalAmt0464784
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt04817
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05086
IRS990/PayrollTaxesGrp/ProgramServicesAmt026280
IRS990/PayrollTaxesGrp/TotalAmt036183
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01079
IRS990/PrincipalOfficerNm0Jax Chaudhry
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0Registration Fees
IRS990/ProgramServiceRevenueGrp/Desc1Training Fees
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt021800
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt148700
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt021800
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt148700
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0488524
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt04050
IRS990/PYInvestmentIncomeAmt01512
IRS990/PYOtherExpensesAmt077859
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt027063
IRS990/PYRevenuesLessExpensesAmt0150762
IRS990/PYSalariesCompEmpBnftPaidAmt0284428
IRS990/PYTotalExpensesAmt0366337
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0517099
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0157206
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt070500
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0200982
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0200813
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0949928
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0488524
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0382545
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt056930
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt020217
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01898144
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01381
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01512
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt02072
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt084
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt05049
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0126027
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt01523154
IRS990ScheduleA/SubstantialContributorsTotAmt0374990
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0949928
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0488524
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0382545
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt056930
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt020217
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01898144
IRS990ScheduleA/TotalSupportAmt01903193
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesEvent1Amt00
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesEvent2Amt00
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesTotalEventsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt0146761
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt0115064
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt031697
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt018684
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent1Amt00
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent2Amt00
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Future Fest
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0State of the Community
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt05492
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent2Amt04883
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt010375
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0117269
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt031697
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0148966

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$570,134
Liabilities
$14,961
Net assets
$555,173
Revenue
$1,005,665
Expenses
$848,459
Net income
$157,206
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.69$0.18$0.50$1.14$1.18$0.04
2023Detailed filing. Detailed filing data is available for this year.$0.85$0.30$0.54$1.14$1.15$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.57$0.01$0.56$1.01$0.85$0.16
2021Detailed filing. Detailed filing data is available for this year.$0.40$0.00$0.40$0.52$0.37$0.15
2020Detailed filing. Detailed filing data is available for this year.$0.25$0.00$0.25$0.41$0.21$0.20
2019Summary only. Only limited summary data is available for this year.$0.05$0.00$0.04$0.06$0.03$0.02