Civic Intelligence

The Formation Project

990 • Fiscal year 2020 • EIN 84-4695937

Jan 01, 2020 to Dec 31, 2020 • Filed on Aug 26, 2021

Organization ProfileWWW.THEFORMATIONPROJECT.ORG
PO Box 80876Charleston, SC 29416

(864) 375-6635

Siviq Scores

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

Liabilities / Assets

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

67th percentile

18%

Higher net margin than 67% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

87th percentile

$30,211

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 32.7% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Balance Sheet
Liabilities / Assets55th percentile

Assets

$17,105

No earlier filing loaded for comparison.

Net Assets

$17,105

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin67th percentile

Revenue

$92,494

No earlier filing loaded for comparison.

Expenses

$76,274

No earlier filing loaded for comparison.

Net Income

$16,220

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.0M$500K$0-$500KAssets 2020: $17,105Liabilities 2020: $0Net Assets 2020: $17,1052020Assets 2021: $27,680Liabilities 2021: $62,477Net Assets 2021: -$34,7972021Assets 2022: $194,537Liabilities 2022: $0Net Assets 2022: $194,5372022Assets 2023: $217,987Liabilities 2023: $300Net Assets 2023: $217,6872023Assets 2024: $881,538Liabilities 2024: $277,103Net Assets 2024: $604,4352024

Highlighted filing

2020

Assets$17,105
Liabilities$0
Net Assets$17,105
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0-$500KRevenue 2020: $92,494Expenses 2020: $76,274Net Income 2020: $16,2202020Revenue 2021: $399,441Expenses 2021: $451,343Net Income 2021: -$51,9022021Revenue 2022: $832,145Expenses 2022: $629,311Net Income 2022: $202,8342022Revenue 2023: $814,974Expenses 2023: $791,974Net Income 2023: $23,0002023Revenue 2024: $1,042,895Expenses 2024: $656,147Net Income 2024: $386,7482024

Highlighted filing

2020

Revenue$92,494
Expenses$76,274
Net Income$16,220
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Aug 26, 2021
Return Version
2020v4.0
Gross Receipts
$92,494
Mission and Program Overview

Mission

The formation project is a survivor-led non-profit fighting human trafficking. Our vision is a world where no person is bought, sold, or exploited. We are accomplishing that by ensuring every person has the option not to sell their bodies, and the opportunity to escape exploitation, and access to sustainable services and support.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$17,105-
Total Assets$0$17,105▲ $17,105
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$17,105-
Total Net Assets Fund Balance$0$17,105▲ $17,105
Total Liabilities and Net Assets / Fund Balance$0$17,105▲ $17,105
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Katheryn WehuntExecutive DiFT$29,167$1,044$30,211

Board Members and Trustees

NameTitle
Brooke BurrisChair
Darby ParkerBoard Member
Michele ForsytheSecretary
Lauren KnappTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$92,494
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$92,494
Change in Net Assets
$16,220
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$55,067
Other Expenses$21,207
Total Fundraising Expense$4,027
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$24,789$3,641$1,781$30,211
Other Salaries and Wages$16,406$2,407$1,187$20,000
Payroll Taxes$3,085$453$223$3,761
Other Expenses$2,012$2,383-$2,012
Office Expenses-$1,178$206$1,384
Other Employee Benefits$904$138$53$1,095
Advertising$27-$577$604
Fees for Services Other-$360-$360
Total Functional Expenses$61,687$10,560$4,027$76,274
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
Yes
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, Page 6, Part VI, Line 11B

“The 990 is to be reviewed and approved first by the executive director. It is encouraged that the executive director review the 990 with the accountant. Upon approval, the executive director will send the 990 to the board for review and approval by majority vote.”

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

“Unless the board agrees by majority vote to compensate any board member or member, board members will not receive compensation.”

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

“The executive director will be compensated by an amount chosen by majority vote by the board. The executive director is responsible for overseeing the budget; therefore, the executive director sets the amount for compensation for key employees. The budget with these key employee compensations is to be approved by the board annually.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Formation Project
EIN
84-4695937
Phone
8643756635
Address
PO BOX 80876, CHARLESTON, SC 29416

Signing Officer

Name
Brooke Burris
Title
Chair
Phone
8643756635
Signed
2021-08-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katheryn Wehunt
Formed
2019
Legal Domicile
Sc
Voting Board Members
4
Independent Board Members
4
Employees
2

Preparer

Firm
Langdon & Company Llp
Address
223 US HIGHWAY 70 EAST SUITE 100, GARNER, NC 27529-4051
Preparer
Susan Dean
Phone
9196621001
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The formation project is a survivor-led non-profit fighting human trafficking. Our vision is a world where no person is bought, sold, or exploited. We are accomplishing that by ensuring every person has the option not to sell their bodies, and the opportunity to escape exploitation, and access to sustainable services and support.”

Raw XML Appendix294 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORMATION PROJECT IS A SURVIVOR-LED NON-PROFIT FIGHTING HUMAN TRAFFICKING. OUR VISION IS A WORLD WHERE NO PERSON IS BOUGHT, SOLD, OR EXPLOITED. WE ARE ACCOMPLISHING THAT BY ENSURING EVERY PERSON HAS THE OPTION NOT TO SELL THEIR BODIES, AND THE OPPORTUNITY TO ESCAPE EXPLOITATION, AND ACCESS TO SUSTAINABLE SERVICES AND SUPPORT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS TO BE REVIEWED AND APPROVED FIRST BY THE EXECUTIVE DIRECTOR. IT IS ENCOURAGED THAT THE EXECUTIVE DIRECTOR REVIEW THE 990 WITH THE ACCOUNTANT. UPON APPROVAL, THE EXECUTIVE DIRECTOR WILL SEND THE 990 TO THE BOARD FOR REVIEW AND APPROVAL BY MAJORITY VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UNLESS THE BOARD AGREES BY MAJORITY VOTE TO COMPENSATE ANY BOARD MEMBER OR MEMBER, BOARD MEMBERS WILL NOT RECEIVE COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE DIRECTOR WILL BE COMPENSATED BY AN AMOUNT CHOSEN BY MAJORITY VOTE BY THE BOARD. THE EXECUTIVE DIRECTOR IS RESPONSIBLE FOR OVERSEEING THE BUDGET; THEREFORE, THE EXECUTIVE DIRECTOR SETS THE AMOUNT FOR COMPENSATION FOR KEY EMPLOYEES. THE BUDGET WITH THESE KEY EMPLOYEE COMPENSATIONS IS TO BE APPROVED BY THE BOARD ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/PreparerPersonGrp/PreparationDt02021-08-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SUSAN DEAN
ReturnHeader/ReturnTs02021-08-26T14:53:12-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BROOKE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BURRIS
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,105
Liabilities
$0
Net assets
$17,105
Revenue
$92,494
Expenses
$76,274
Net income
$16,220
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.88$0.28$0.60$1.04$0.66$0.39
2023Summary only. Only limited summary data is available for this year.$0.22$0.00$0.22$0.81$0.79$0.02
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.19$0.00$0.19$0.83$0.63$0.20
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.03$0.06$0.03$0.40$0.45$0.05
2020Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.09$0.08$0.02