Civic Intelligence

Project Invent

990 • Fiscal year 2023 • EIN 82-4377729

Jul 01, 2022 to Jun 30, 2023 • Filed on Oct 31, 2023

Organization Profilewww.projectinvent.org

View Organization Page

2261 Market St 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

78th percentile

0.36x

Higher debt load relative to assets than 78% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

70th percentile

0.26x

Higher debt load relative to revenue than 70% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

37th percentile

-0.9%

Higher net margin than 37% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

49th percentile

$57,860

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

89th percentile

48%

Faster asset growth than 89% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

59th percentile

13%

Faster revenue growth than 59% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$845,763

Up $275,629 (+48%) from 2022

Net Assets

Down

$544,991

Down $10,182 (-1.8%) from 2022

Liabilities

Up

$300,772

Up $285,811 (+1910%) from 2022

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin37th percentile

Revenue

Up

$1,138,802

Up $133,137 (+13%) from 2022

Expenses

Up

$1,148,984

Up $300,525 (+35%) from 2022

Net Income

Down

-$10,182

Down $167,388 (-106%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth89th 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

2023

Assets$845,763
Liabilities$300,772
Net Assets$544,991
Open 2023 Filing

Operations Trend

Revenue Growth59th 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

2023

Revenue$1,138,802
Expenses$1,148,984
Net Income-$10,182
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Oct 31, 2023
Return Version
2022v5.0
Gross Receipts
$1,158,977
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
Accounts Receivable$54,210$460,240▲ $406,030
Savings and Temporary Cash Investments$200,813$205,654▲ $4,841
Cash and Non-Interest-Bearing Accounts$314,032$179,869▼ $134,163
Prepaid Expenses and Deferred Charges$1,079$0▼ $1,079
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$570,134$845,763▲ $275,629
Other Assets Total-$0-
Liabilities
Deferred Revenue-$250,000-
Accounts Payable and Accrued Expenses$14,961$50,772▲ $35,811
Total Liabilities$14,961$300,772▲ $285,811
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$555,173$544,991▼ $10,182
Total Net Assets Fund Balance$555,173$544,991▼ $10,182
Total Liabilities and Net Assets / Fund Balance$570,134$845,763▲ $275,629
Compensation and Service Providers
Top Officer Pay49th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jax ChaudhryExecutive DirectorFT$55,430$2,430$57,860

Board Members and Trustees

NameTitle
Aragon BurlinghamPresident
Albert LeeDirector
Ali MojibiDirector
Babak MostaghimiDirector
Bill HeilDirector
Leslie WiseDirector
Lillian HsuDirector
Linda AntonopoulosDirector
Orly FriedmanDirector
Steven KetchpelDirector
Cynthia JohansonSecretary
Matt GallatinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,125,818
Program Service Revenue
$19,950
Investment Income
$11,101
Other Revenue
$-18,067
All Other Contributions
$1,044,118
Change in Net Assets
$-10,182
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$909,931
Other Expenses$201,129
Total Fundraising Expense$150,892
Grants and Similar Amounts Paid$37,924
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$471,551$68,129$93,708$633,388
Current Officers, Directors, Trustees, and Key Employees$40,416$77,565$37,150$155,131
Travel$81,336-$1,226$82,562
Payroll Taxes$40,243$12,467$11,390$64,100
Other Employee Benefits$57,186$126-$57,312
Fees for Services Other$28,761$1,712$1,925$32,398
Grants to Domestic Individuals$22,510--$22,510
Office Expenses$13,199$7,343$1,617$22,159
Information Technology$11,793$3,445$3,803$19,041
Grants to Domestic Orgs$15,414--$15,414
Advertising$7,396--$7,396
Fees for Services Accounting-$7,168-$7,168
Other Expenses$6,676--$6,676
Conferences and Meetings$1,461$1,788$73$3,322
Insurance-$910-$910
Total Functional Expenses$817,439$180,653$150,892$1,148,984
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Gold Crown FoundationLakewood, CO501c3Demo Day X Prize money, stipend$5,500
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$20,175
Fundraising Gross Income$2,050
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Future Fest$83,750$2,050$5,214$-3,164
Total Events$83,750$2,050$20,175$-18,125
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
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 15A

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

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 St STE 4624, San Francisco, CA 94114

Signing Officer

Name
Jax Chaudhry
Title
Executive Director
Signed
2023-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jax Chaudhry
Formed
2018
Legal Domicile
CA
Voting Board Members
12
Independent Board Members
12
Employees
9
Volunteers
214

Preparer

Firm
Shelby Malvoso
Address
360 Vernon St Unit 303, Oakland, CA 94610
Preparer
Shelby Malvoso
Phone
5104736240
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$845,763
Liabilities
$300,772
Net assets
$544,991
Revenue
$1,138,802
Expenses
$1,148,984
Net income
-$10,182
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