Project 412

Analysis

Project 412 is a registered charity in United States, based in Detroit Lakes, MN. It received its IRS tax-exemption ruling in November 2022, 4 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Project 412 reported income of $1.0m and spending of $575k, leaving 43% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $272k to $1.0m (+271%), an average of +271% a year. The sharpest change came in the year to December 2023, when income rose by 271%. Over the whole period it spent 51% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Project 412 sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within MN. Charities of a similar size with the same main cause include New Jersey Chamber of Commerce Foundation ($1.0m), Working Partnerships Incorporated ($1.0m) and Abc Craftmasters Training TR ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $157k. At year end it held assets of $549k against liabilities of $53k, net assets of $496k. It reported 3 employees.