Possible Project Inc

Analysis

Possible Project Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in November 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Possible Project Inc reported income of $11.5m and spending of $15.9m, spending 137% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.7m to $11.5m (+73%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 68%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Possible Project Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Luminos Fund ($11.5m), Associated Students of California State University Sacramento ($11.5m) and Communities in Schools of the Dallas Region ($11.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $3.7m (24% of expenses). Other salaries and wages came to $4.4m. It paid $179k in professional fundraising fees. At year end it held assets of $18.8m against liabilities of $20.9m, net assets of -$2.1m. It reported 94 employees.