Civic Intelligence

The Formation Project

990 • Fiscal year 2021 • EIN 84-4695937

Jan 01, 2021 to Dec 31, 2021 • Filed on Jul 22, 2022

Organization ProfileWWW.THEFORMATIONPROJECT.ORG
PO Box 71863Charleston, SC 29415

(864) 375-6635

Siviq Scores

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

Liabilities / Assets

97th percentile

2.26x

Higher debt load relative to assets than 97% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

82nd percentile

0.16x

Higher debt load relative to revenue than 82% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

22nd percentile

-13%

Higher net margin than 22% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

93rd percentile

$54,969

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 13.8% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

83rd percentile

62%

Faster asset growth than 83% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

95th percentile

332%

Faster revenue growth than 95% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$27,680

Up $10,575 (+62%) from 2020

Net Assets

Down

-$34,797

Down $51,902 (-303%) from 2020

Liabilities

Up

$62,477

Up $62,477 from 2020

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin22nd percentile

Revenue

Up

$399,441

Up $306,947 (+332%) from 2020

Expenses

Up

$451,343

Up $375,069 (+492%) from 2020

Net Income

Down

-$51,902

Down $68,122 (-420%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

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

2021

Assets$27,680
Liabilities$62,477
Net Assets-$34,797
Open 2021 Filing

Operations Trend

Revenue Growth95th percentile

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

2021

Revenue$399,441
Expenses$451,343
Net Income-$51,902
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jul 22, 2022
Return Version
2021v4.0
Gross Receipts
$399,441
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.

To reach, restore & equip survivors & allies in the fight against human trafficking and commercial exploitation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$15,502-
Prepaid Expenses and Deferred Charges-$8,077-
Cash and Non-Interest-Bearing Accounts$17,105$4,101▼ $13,004
Total Assets$17,105$27,680▲ $10,575
Liabilities
Mortgage Notes Payable Secured by Investment Property-$61,776-
Accounts Payable and Accrued Expenses-$701-
Total Liabilities$0$62,477▲ $62,477
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$17,105$-34,797▼ $51,902
Total Net Assets Fund Balance$17,105$-34,797▼ $51,902
Total Liabilities and Net Assets / Fund Balance$17,105$27,680▲ $10,575
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kathryn WehuntExecutive DiFT$54,969$54,969

Board Members and Trustees

NameTitle
Brooke BurrisChair
Carl HanssonBoard Member
Lauren KnappBoard Member
Steve CavettBoard Member
Michele ForsytheSecretary
Darby ParkerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$399,441
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$196,704
Change in Net Assets
$-51,902
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$253,990
Salaries, Compensation, and Employee Benefits$197,353
Total Fundraising Expense$27,841
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$88,535$20,367$12,410$121,312
Current Officers, Directors, Trustees, and Key Employees$40,055$9,059$5,856$54,970
Other Expenses$21,524$916$458$22,898
Payroll Taxes$8,178$1,988$1,544$11,710
Other Employee Benefits$6,618$986$1,757$9,361
Insurance$7,724$232$113$8,069
All Other Expenses$3,623$1,939$2,493$8,055
Fees for Services Other$5,958$1,069$29$7,056
Travel$5,479$360$176$6,015
Office Expenses-$4,774$701$5,475
Occupancy$4,428$181$94$4,703
Fees for Services Accounting-$3,850-$3,850
Advertising$72$684$1,658$2,414
Conferences and Meetings$992--$992
Fees for Services Legal$50--$50
Total Functional Expenses$375,993$47,509$27,841$451,343
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 71863, CHARLESTON, SC 29415

Signing Officer

Name
Kathryn Wehunt
Title
Executive Director
Phone
8643756635
Signed
2022-07-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathryn Wehunt
Formed
2019
Legal Domicile
Sc
Voting Board Members
6
Independent Board Members
6
Employees
8

Preparer

Firm
Langdon & Company Llp
Address
223 US HIGHWAY 70 EAST SUITE 100, GARNER, NC 27529-4051
Preparer
Jessica Dupree
Phone
9196621001
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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 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/ExplanationTxt1UNLESS THE BOARD AGREES BY MAJORITY VOTE TO COMPENSATE ANY BOARD MEMBER OR MEMBER, BOARD MEMBERS WILL NOT RECEIVE COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$27,680
Liabilities
$62,477
Net assets
-$34,797
Revenue
$399,441
Expenses
$451,343
Net income
-$51,902
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
2021Detailed filing. Detailed filing data is available for this year.$0.03$0.06$0.03$0.40$0.45$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.02$0.00$0.02$0.09$0.08$0.02
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)3 • <$500k nonprofits