Project Connection Foundation

Analysis

Project Connection Foundation is a registered charity in United States, based in W Valley City, UT. It received its IRS tax-exemption ruling in May 2019, 7 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Project Connection Foundation reported income of $2.8m and spending of $2.8m, spending 100% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $1.0m to $2.8m (+180%), an average of +41% a year. The sharpest change came in the year to December 2021, when income rose by 55%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Project Connection Foundation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 87th percentile within UT. Charities of a similar size with the same main cause include Central American Resource Center- Carecen ($2.8m), San Miguel Education Center ($2.8m) and United States Table Tennis Association ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $547k (19% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $2.0m against liabilities of $1.7m, net assets of $373k. It reported 68 employees.