Civic Intelligence

Project Upstart Inc

990 • Fiscal year 2023 • EIN 84-2864795

Sep 01, 2022 to Aug 31, 2023 • Filed on Jul 08, 2024

Organization ProfileN/A
4246 South Riverboat Road Suite 15Taylorsville, UT 84123

(801) 576-4900

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.22x

Higher debt load relative to assets than 72% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

46th percentile

0.05x

Higher debt load relative to revenue than 46% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Net Margin

49th percentile

8.1%

Higher net margin than 49% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

95th percentile

$290,842

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 11.2% of source-year revenue.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Asset Growth

89th percentile

39%

Faster asset growth than 89% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

83rd percentile

43%

Faster revenue growth than 83% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$557,317

Up $157,552 (+39%) from 2022

Net Assets

Up

$434,654

Up $209,686 (+93%) from 2022

Liabilities

Down

$122,663

Down $52,134 (-30%) from 2022

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin49th percentile

Revenue

Up

$2,590,405

Up $779,575 (+43%) from 2022

Expenses

Up

$2,380,719

Up $464,981 (+24%) from 2022

Net Income

Up

$209,686

Up $314,594 (+300%) 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: $350,000Liabilities 2019: $0Net Assets 2019: $350,0002019Assets 2021: $839,008Liabilities 2021: $509,132Net Assets 2021: $329,8762021Assets 2022: $399,765Liabilities 2022: $174,797Net Assets 2022: $224,9682022Assets 2023: $557,317Liabilities 2023: $122,663Net Assets 2023: $434,6542023Assets 2024: $515,289Liabilities 2024: $107,926Net Assets 2024: $407,3632024

Highlighted filing

2023

Assets$557,317
Liabilities$122,663
Net Assets$434,654
Open 2023 Filing

Operations Trend

Revenue Growth83rd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $350,000Expenses 2019: $0Net Income 2019: $350,0002019Revenue 2021: $1,336,605Expenses 2021: $1,519,013Net Income 2021: -$182,4082021Revenue 2022: $1,810,830Expenses 2022: $1,915,738Net Income 2022: -$104,9082022Revenue 2023: $2,590,405Expenses 2023: $2,380,719Net Income 2023: $209,6862023Revenue 2024: $1,896,045Expenses 2024: $1,923,336Net Income 2024: -$27,2912024

Highlighted filing

2023

Revenue$2,590,405
Expenses$2,380,719
Net Income$209,686
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2022 to Aug 31, 2023
Signed
Jul 8, 2024
Return Version
2022v5.0
Gross Receipts
$2,590,405
Mission and Program Overview

Mission

Project upstart advocates to the public and legislative bodies for support of early childhood education intervention, particularly focusing on children from lower socioeconomic strata and other at-risk groups to combat disparities in educational opportunities.

Advocates for support of early childhood education intervention to promote equity for all learners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$224,968$434,654▲ $209,686
Cash and Non-Interest-Bearing Accounts$276,435$425,580▲ $149,145
Accounts Receivable$123,330$131,737▲ $8,407
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$399,765$557,317▲ $157,552
Liabilities
Accounts Payable and Accrued Expenses$174,797$122,663▼ $52,134
Total Liabilities$174,797$122,663▼ $52,134
Net Assets / Fund Balance
Total Net Assets Fund Balance$224,968$434,654▲ $209,686
Total Liabilities and Net Assets / Fund Balance$399,765$557,317▲ $157,552
Compensation and Service Providers
Top Officer Pay95th percentile

Board Members and Trustees

NameTitle
Allison Gushee MolkenthinChair of the Board
Thomas G NessPresident & Treasurer
Eric J MarxSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$2,590,405
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,590,405
Change in Net Assets
$209,686
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,181,207
Salaries, Compensation, and Employee Benefits$199,512
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Lobbying$2,118,195--$2,118,195
Other Salaries and Wages$152,635--$152,635
Other Expenses$60,412--$60,412
Other Employee Benefits$46,877--$46,877
Fees for Services Accounting$2,600--$2,600
Total Functional Expenses$2,380,719$0$0$2,380,719
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Waterford institute, inc. Is the sole member of project upstart, inc.”

Form 990, Part VI, Section A, Line 7A

“The member has rights to make appointments.”

Form 990, Part VI, Section A, Line 7B

“The member has the right to amend bylaws and make goverance decisions.”

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

“The tax firm engaged by project upstart and the project upstart management team work together to gather the information necessary to complete the form 990. The tax firm prepares an initial draft form 990, which is reviewed by management as well as the board of trustees. Any recommended changes and comments are considered and the form 990 is updated with a final copy distributed to the board of trustees prior to the filing of the form 990 with the internal revenue service.”

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

“We request board members to disclose any conflicts at board meetings.”

Form 990, Part VI, Section C, Line 19

“These documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Project Upstart Inc
EIN
84-2864795
Phone
8015764900
Address
4246 SOUTH RIVERBOAT ROAD SUITE 15, TAYLORSVILLE, UT 84123

Signing Officer

Name
Tom Ness
Title
CFO
Phone
8015764900
Signed
2024-07-08
Discuss with paid preparer
Yes

Organization Details

Formed
2019
Legal Domicile
Ut
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
0

Preparer

Firm
Tanner LLC
Address
36 S STATE STREET SUITE 600, SALT LAKE CITY, UT 84111
Preparer
Marc a Metcalf
Phone
8015327444
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Management of project upstart believes that it has appropriate support for the income tax positions taken and to be taken on its tax return. A liability for uncertain tax positions initially needs to be recognized in the financial statements when it is more-likely-than-not the position will not be sustained upon examination by tax authorities.”

Raw XML Appendix354 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT OF PROJECT UPSTART BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE INCOME TAX POSITIONS TAKEN AND TO BE TAKEN ON ITS TAX RETURN. A LIABILITY FOR UNCERTAIN TAX POSITIONS INITIALLY NEEDS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITION WILL NOT BE SUSTAINED UPON EXAMINATION BY TAX AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WATERFORD INSTITUTE, INC. IS THE SOLE MEMBER OF PROJECT UPSTART, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBER HAS RIGHTS TO MAKE APPOINTMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MEMBER HAS THE RIGHT TO AMEND BYLAWS AND MAKE GOVERANCE DECISIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TAX FIRM ENGAGED BY PROJECT UPSTART AND THE PROJECT UPSTART MANAGEMENT TEAM WORK TOGETHER TO GATHER THE INFORMATION NECESSARY TO COMPLETE THE FORM 990. THE TAX FIRM PREPARES AN INITIAL DRAFT FORM 990, WHICH IS REVIEWED BY MANAGEMENT AS WELL AS THE BOARD OF TRUSTEES. ANY RECOMMENDED CHANGES AND COMMENTS ARE CONSIDERED AND THE FORM 990 IS UPDATED WITH A FINAL COPY DISTRIBUTED TO THE BOARD OF TRUSTEES PRIOR TO THE FILING OF THE FORM 990 WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4WE REQUEST BOARD MEMBERS TO DISCLOSE ANY CONFLICTS AT BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THESE DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/TaxPeriodBeginDt02022-09-01
ReturnHeader/TaxPeriodEndDt02023-08-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$557,317
Liabilities
$122,663
Net assets
$434,654
Revenue
$2,590,405
Expenses
$2,380,719
Net income
$209,686
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.52$0.11$0.41$1.90$1.92$0.03
2023Detailed filing. Detailed filing data is available for this year.$0.56$0.12$0.43$2.59$2.38$0.21
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.40$0.17$0.22$1.81$1.92$0.10
2021Detailed filing. Detailed filing data is available for this year.$0.84$0.51$0.33$1.34$1.52$0.18
2019Summary only. Only limited summary data is available for this year.$0.35$0.00$0.35$0.35$0.00$0.35