Civic Intelligence

Project Azul Inc.

990 • Fiscal year 2022 • EIN 84-3859092

Jan 01, 2022 to Dec 31, 2022 • Filed on Jul 31, 2023

5628 W 74th StIndianapolis, IN 46278

(317) 472-7599

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.00x

Higher debt load relative to assets than 62% of similar nonprofits.

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

Liabilities / Revenue

59th percentile

0.00x

Higher debt load relative to revenue than 59% of similar nonprofits.

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

Net Margin

25th percentile

-11%

Higher net margin than 25% of similar nonprofits.

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

Top Officer Pay

98th percentile

$93,600

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 25.0% of source-year revenue.

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

Asset Growth

12th percentile

-41%

Faster asset growth than 12% of similar nonprofits.

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

Revenue Growth

39th percentile

-1.0%

Faster revenue growth than 39% of similar nonprofits.

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

Assets

Down

$57,952

Down $40,780 (-41%) from 2021

Net Assets

Down

$57,760

Down $18,345 (-24%) from 2021

Liabilities

Down

$192

Down $22,435 (-99%) from 2021

Revenue

Down

$373,901

Down $3,790 (-1.0%) from 2021

Expenses

Up

$414,681

Up $104,627 (+34%) from 2021

Net Income

Down

-$40,780

Down $108,417 (-160%) from 2021

Historical Trend

Balance Sheet Trend

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

$150K$100K$50K$0-$50KAssets 2020: $105,296Liabilities 2020: $96,828Net Assets 2020: $8,4682020Assets 2021: $98,732Liabilities 2021: $22,627Net Assets 2021: $76,1052021Assets 2022: $57,952Liabilities 2022: $192Net Assets 2022: $57,7602022Assets 2023: $3Liabilities 2023: $1,761Net Assets 2023: -$1,7582023

Highlighted filing

2022

Assets$57,952
Liabilities$192
Net Assets$57,760

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2020: $297,191Expenses 2020: $288,723Net Income 2020: $8,4682020Revenue 2021: $377,691Expenses 2021: $310,054Net Income 2021: $67,6372021Revenue 2022: $373,901Expenses 2022: $414,681Net Income 2022: -$40,7802022Revenue 2023: $95,839Expenses 2023: $155,357Net Income 2023: -$59,5182023

Highlighted filing

2022

Revenue$373,901
Expenses$414,681
Net Income-$40,780
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 31, 2023
Return Version
2022v5.0
Gross Receipts
$373,901
Mission and Program Overview

Mission

Our mission is to provide individuals with the flexible training and financial assistance needed to transition from unemployment or underemployment into full-time positions offering higher wages, access to benefits, and a pathway to career advancement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$98,732$57,952▼ $40,780
Rtn Earn Endowment Incm Other Fnds$76,105$57,760▼ $18,345
Total Assets$98,732$57,952▼ $40,780
Liabilities
Accounts Payable and Accrued Expenses$22,627$192▼ $22,435
Total Liabilities$22,627$192▼ $22,435
Net Assets / Fund Balance
Total Net Assets Fund Balance$76,105$57,760▼ $18,345
Total Liabilities and Net Assets / Fund Balance$98,732$57,952▼ $40,780
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Yecenia TostadoExecutive DiFT$93,600$93,600

Board Members and Trustees

NameTitle
Jackie MoralesPresident
Seth MoralesBoard Member
Stephanie FritzBoard Member
Tim BrownBoard Member
Tom MoralesBoard Member
Tiera HollanquestSecretary
Jennifer BurtonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$373,900
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$1
All Other Contributions
$212,900
Change in Net Assets
$-40,780
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$258,126
Grants and Similar Amounts Paid$156,555
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$225,309-$225,309
Grants to Domestic Individuals$156,555--$156,555
Fees for Services Other-$16,421-$16,421
Information Technology-$8,474-$8,474
Office Expenses-$5,925-$5,925
Insurance-$1,382-$1,382
Fees for Services Accounting-$471-$471
Other Expenses-$144-$144
Total Functional Expenses$156,555$258,126$0$414,681
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Morales Enterprises IncOwner DerectorLeased Employee ExpeNo$228,045
Morales Enterprises IncDirectorsContribution to ProjNo$65,000
Morales Enterprises IncOwner DirectorReimbursed BusinessNo$19,341
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
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

Tomas morales and seth morales are shareholders of morales enterprises, inc., which was a substantial contributor to project azul, inc. In addition, tomas and seth serve on the board of project azul. Jackie morales, president and chairman of the board of project azul, inc. Is the spouse of seth morales and also an employee of morales enterprises, inc. Jennifer burton and ben slaughter are officers of project azul, inc., and also employees of morales enterprises, inc.

Form 990, Page 6, Part VI, Line 2

Jackie morales seth morales president board member spouses tomas morales seth morales board board father/son

Form 990, Page 6, Part VI, Line 7A

Tomas morales appointed the initial officers and the board of directors. Going forward, the board of directors elects new officers and directors.

Form 990, Page 6, Part VI, Line 11B

Completed form 990 and related schedules were provided to board of directors via email for review

Form 990, Page 6, Part VI, Line 15A

The organization's executive director was interviewed by the president and chairman of the board as well as a few directors. Pay was determined by the president based on market research for similar positions and based on experience. The board of directors continually reviews the executive director's performance and would be responsible for approving any pay changes.

Form 990, Page 6, Part VI, Line 15B

The organization's executive director was interviewed by the president and chairman of the board as well as a few directors. Pay was determined by the president based on market research for similar positions and based on experience. The board of directors continually reviews the executive director's performance and would be responsible for approving the pay changes.

Form 990, Page 6, Part VI, Line 19

Governing documents are avialble to the public via the organization's website

Filing and Contact Details

Filer

Filer Name
Project Azul Inc
EIN
84-3859092
Phone
3174727599
Address
5628 W 74TH ST, INDIANAPOLIS, IN 46278

Signing Officer

Name
Jackie Morales
Title
President
Phone
3174727599
Signed
2023-07-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jackie Morales
Formed
2020
Legal Domicile
In
Voting Board Members
7
Independent Board Members
3
Employees
0
Volunteers
10

Preparer

Firm
Aranowski & Company
Address
212 E LASALLE AVE STE 220, SOUTH BEND, IN 46617-3562
Preparer
David P Aranowski CPA
Phone
5742894821
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Our mission is to provide individuals with the flexible training and financial assistance needed to transition from unemployment or underemployment into full-time positions offering higher wages, access to benefits, and a pathway to career advancement.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OUR MISSION IS TO PROVIDE INDIVIDUALS WITH THE FLEXIBLE TRAINING AND FINANCIAL ASSISTANCE NEEDED TO TRANSITION FROM UNEMPLOYMENT OR UNDEREMPLOYMENT INTO FULL-TIME POSITIONS OFFERING HIGHER WAGES, ACCESS TO BENEFITS, AND A PATHWAY TO CAREER ADVANCEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TOMAS MORALES AND SETH MORALES ARE SHAREHOLDERS OF MORALES ENTERPRISES, INC., WHICH WAS A SUBSTANTIAL CONTRIBUTOR TO PROJECT AZUL, INC. IN ADDITION, TOMAS AND SETH SERVE ON THE BOARD OF PROJECT AZUL. JACKIE MORALES, PRESIDENT AND CHAIRMAN OF THE BOARD OF PROJECT AZUL, INC. IS THE SPOUSE OF SETH MORALES AND ALSO AN EMPLOYEE OF MORALES ENTERPRISES, INC. JENNIFER BURTON AND BEN SLAUGHTER ARE OFFICERS OF PROJECT AZUL, INC., AND ALSO EMPLOYEES OF MORALES ENTERPRISES, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2JACKIE MORALES SETH MORALES PRESIDENT BOARD MEMBER SPOUSES TOMAS MORALES SETH MORALES BOARD BOARD FATHER/SON
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TOMAS MORALES APPOINTED THE INITIAL OFFICERS AND THE BOARD OF DIRECTORS. GOING FORWARD, THE BOARD OF DIRECTORS ELECTS NEW OFFICERS AND DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPLETED FORM 990 AND RELATED SCHEDULES WERE PROVIDED TO BOARD OF DIRECTORS VIA EMAIL FOR REVIEW
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S EXECUTIVE DIRECTOR WAS INTERVIEWED BY THE PRESIDENT AND CHAIRMAN OF THE BOARD AS WELL AS A FEW DIRECTORS. PAY WAS DETERMINED BY THE PRESIDENT BASED ON MARKET RESEARCH FOR SIMILAR POSITIONS AND BASED ON EXPERIENCE. THE BOARD OF DIRECTORS CONTINUALLY REVIEWS THE EXECUTIVE DIRECTOR'S PERFORMANCE AND WOULD BE RESPONSIBLE FOR APPROVING ANY PAY CHANGES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION'S EXECUTIVE DIRECTOR WAS INTERVIEWED BY THE PRESIDENT AND CHAIRMAN OF THE BOARD AS WELL AS A FEW DIRECTORS. PAY WAS DETERMINED BY THE PRESIDENT BASED ON MARKET RESEARCH FOR SIMILAR POSITIONS AND BASED ON EXPERIENCE. THE BOARD OF DIRECTORS CONTINUALLY REVIEWS THE EXECUTIVE DIRECTOR'S PERFORMANCE AND WOULD BE RESPONSIBLE FOR APPROVING THE PAY CHANGES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GOVERNING DOCUMENTS ARE AVIALBLE TO THE PUBLIC VIA THE ORGANIZATION'S WEBSITE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JACKIE MORALES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03174727599
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-07-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROJECT AZUL INC
ReturnHeader/Filer/BusinessNameControlTxt0PROJ
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ReturnHeader/Filer/PhoneNum03174727599
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ARANOWSKI & COMPANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0212 E LASALLE AVE STE 220
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SOUTH BEND
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ReturnHeader/PreparerPersonGrp/PhoneNum05742894821
ReturnHeader/PreparerPersonGrp/PreparationDt02023-08-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID P ARANOWSKI CPA
ReturnHeader/ReturnTs02023-08-09T10:04:36-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JACKIE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MORALES
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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