PROJECT PURPLE INC

EIN: 273492063 501(c)(3) Medical Research

SEYMOUR, CT

Total Revenue
$2,996,848
Total Expenses
$3,149,439
Total Assets
$2,234,680
Net Assets
$1,703,654
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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
CT
Principal Officer
SANDINO VERRELLI
Phone
2037146052
Tax Period
2024-01-01 to 2024-12-31

PROJECT PURPLE INC, founded in 2010, is a community nonprofit in the Medical Research sector that reported $3.0M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

THE MISSION OF PROJECT PURPLE IS TO RAISE AWARENESS AND FUNDS TOWARD A CURE OF PANCREATIC CANCER. IN ADDITION, PROJECT PURPLE MOTIVATES PEOPLE TO RUN IN WORLD RENOWNED MARATHONS AND HALF MARATHONS TO RAISE MISSION CRITICAL FUNDS.

Program Service Accomplishments

Program 1
Expenses: $1,465,962 Revenue: $69,596

PROGRAM AND MARATHON ACTIVITIES OUR PRIMARY FUNDRAISING COMES FROM PARTICIPATING IN MARATHONS, HALF MARATHONS, AND 5K RACES ACROSS THE COUNTRY; INCLUDING THE TOP FOUR U.S. MARATHONS. OUR TEAM...

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PROGRAM AND MARATHON ACTIVITIES OUR PRIMARY FUNDRAISING COMES FROM PARTICIPATING IN MARATHONS, HALF MARATHONS, AND 5K RACES ACROSS THE COUNTRY; INCLUDING THE TOP FOUR U.S. MARATHONS. OUR TEAM CONSISTS OF RUNNERS FROM ALL OVER THE WORLD, MOST OF THEM HAVE BEEN TOUCHED BY PANCREATIC CANCER.

Program 2
Expenses: $1,430,180

RESEARCH, SCHOLARSHIPS AND PATIENT AID PROJECT PURPLE HAS BECOME A LEADING PROVIDER OF FINANCIAL AID TO FAMILIES BATTLING PANCREATIC CANCER. WE OFFER GRANTS TO FAMILIES THAT ARE BATTLING THIS DISEASE...

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RESEARCH, SCHOLARSHIPS AND PATIENT AID PROJECT PURPLE HAS BECOME A LEADING PROVIDER OF FINANCIAL AID TO FAMILIES BATTLING PANCREATIC CANCER. WE OFFER GRANTS TO FAMILIES THAT ARE BATTLING THIS DISEASE FROM ALL OVER THE UNITED STATES. WE OFFER FINANCIAL ASSISTANCE WITH HOUSING, UTILITIES, MEDICAL, AND WE ALSO HAVE A MISCELLANEOUS CATEGORY THAT HAS BEEN USED TO COVER THINGS LIKE GAS, ALTERNATIVE LODGING, AND ANYTHING NOT COVERED IN THE OTHER CATEGORIES. PATIENTS ARE ELIGIBLE TO APPLY ONCE EVERY 12 MONTHS AND OUR TYPICAL CYCLE LASTS ANYWHERE FROM 3-4 WEEKS, DEPENDING ON THE APPLICATION, IF ALL THE REQUIREMENTS ARE IN GOOD ORDER. WE REQUIRE PATIENTS TO SUBMIT PROOF OF DIAGNOSIS AND CURRENT PROTOCOL, PHOTO ID, PREVIOUS YEAR'S TAX FILING, AS WELL AS ANY BILLS THAT THEY ARE LOOKING FOR ASSISTANCE WITH. PROJECT PURPLE IS COMMITTED TO FUNDING CRITICAL RESEARCH TOWARDS A CURE AND EARLY DETECTION OF PANCREATIC CANCER. PROJECT PURPLE HAS FUNDED OVER 3,000,000 SINCE INCEPTION FOR CLINICAL AND SCIENTIFIC RESEARCH TOWARDS ITS MISSION WITH SOME OF THE TOP SCIENTISTS AND DOCTORS IN THE UNITED STATES WORKING TOWARDS THAT GOAL. OUR RESEARCH APPROACH IS TO ASSIST IN FUNDING OF THIS CRITICAL RESEARCH WITH SOME OF THE TOP SCIENTISTS AND DOCTORS IN THE UNITED STATES. THE SCOPE OF THE MANY PROJECTS HAS RANGED FROM IMMUNOLOGY, EARLY DETECTION, BASIC SCIENCE, CLINICAL TRIALS AND MUCH MORE.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,882,896
Program Service Revenue $69,596
Investment Income $43,728
Other Revenue $628
TOTAL REVENUE $2,996,848

Expense Breakdown

Grants Paid $1,405,530
Salaries & Benefits $684,397
Fundraising Expenses $65,056
Program Expenses $2,896,142
Other Expenses $1,059,512
TOTAL EXPENSES $3,149,439

Year-over-Year Comparison

2024 2023 Change
Revenue $2,996,848 $2,556,444 +0.2%
Expenses $3,149,439 $2,108,354 +0.5%
Net Income $-152,591 $448,090 -1.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
8
Employees
16
Volunteers
55

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$214,662
Total Directors
9
$214,662
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRYAN LIVELY PRESIDENT 3.00
Officer Director
$0 $0 $0
BRENT SHEEHAN VICE PRESIDE 3.00
Officer Director
$0 $0 $0
ALEX PALIOS TREASURER 3.00
Officer Director
$0 $0 $0
KATHLEEN BALDUCCI SECRETARY 2.00
Officer Director
$0 $0 $0
TONY LUONGO DIRECTOR 1.00
Director
$0 $0 $0
BRET SCHIPPER DIRECTOR 1.00
Director
$0 $0 $0
JAY BUTH DIRECTOR 1.00
Director
$0 $0 $0
JENNIFER BECKAGE DIRECTOR 1.00
Director
$0 $0 $0
SANDINO VERRELLI FOUNDER AND 40.00
Officer Director
$212,128 $2,534 $214,662
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $2,996,848 $3,149,439 $2,234,680 $-152,591
2023 $2,556,444 $2,108,354 $1,944,886 $448,090
2022 $1,765,053 $1,420,478 $1,495,812 $344,575
2021 $1,393,702 $1,061,200 $1,123,712 $332,502
2020 $933,835 $788,298 $739,904 $145,537
2019 $1,482,219 $1,522,476 $652,076 $-40,257
2018 $1,437,970 $1,053,065 $667,732 $384,905
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