FAITH PROJECT INC

EIN: 462385281 501(c)(3)

Backus, MN

Total Revenue
$101,119
Total Expenses
$122,852
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
MN
Principal Officer
Kathy Adams
Phone
2186822980
Tax Period
2021-01-01 to 2021-12-31

FAITH PROJECT INC, founded in 2011, is a small nonprofit that reported $101K in total revenue in fiscal year 2021. Revenue fell 29% from the prior year — a significant decline worth monitoring. Expenses of $123K exceeded revenue, resulting in a 21% operating deficit.

Mission

Currently we are working in the village of Garde Saline, Haiti trying to build a sustainable community. The project for 2020 involved running two public compost toilet, running two weekly medical clinics, administering two women's micro loan programs, supporting a Christian grade school, some children's sponsorships, Creating two village Chicken raising projects, Creating one village goat raising project, village leadership training in four villages, and working to strengthen the Garde Saline Baptist Church.

Program Service Accomplishments

Program 1
Expenses: $43,180 Revenue: $0

We provided training and salaries for medical staff and funding for medical supplies, drugs, and medical equipment for two village run medical clinics and several short-term medical clinics for Covid...

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We provided training and salaries for medical staff and funding for medical supplies, drugs, and medical equipment for two village run medical clinics and several short-term medical clinics for Covid Virus prevention and earthquake relief. In additional monthly mobile medical clinics were run in the villages of Pistere, Viard, and the surrounding areas. The two village Clinics were open two days of the week in each village and local users only pay a small fraction of cost to operate.

Program 2
Expenses: $8,500 Revenue: $0

10 villages were visited twice each to do an assessment of prior village leadership councils and programs that were commissioned in previous years in those villages. Reports were then generated and...

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10 villages were visited twice each to do an assessment of prior village leadership councils and programs that were commissioned in previous years in those villages. Reports were then generated and sent to commissioning non-profit organization

Program 3
Expenses: $63,795 Revenue: $0

A new 7 classroom school building was constructed and furnished for the Garde Saline Baptist Church that has been running a grade school in Garde Saline for the past several years out of their church...

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A new 7 classroom school building was constructed and furnished for the Garde Saline Baptist Church that has been running a grade school in Garde Saline for the past several years out of their church building. Also, English lessons were provided to anyone that wanted them as part of the school's outreach educational program.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $101,119
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $101,119

Expense Breakdown

Grants Paid $118,555
Salaries & Benefits $0
Fundraising Expenses $2,421
Program Expenses $118,555
Other Expenses $4,297
TOTAL EXPENSES $122,852

Year-over-Year Comparison

2021 2020 Change
Revenue $101,119 $142,567 -0.3%
Expenses $122,852 $145,967 -0.2%
Net Income $-21,733 $-3,400 +5.4%
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
3
Independent Members
3
Employees
N/A
Volunteers
3

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
3
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Kathy Adams President 10
Officer Director
$0 $0 $0
Cleantus Jean Vice President 10
Officer Director
$0 $0 $0
Richard Adams Treasurer 10
Officer Director
$0 $0 $0
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
2021 $101,119 $122,852 No data $-21,733
2020 $142,567 $145,967 $24,298 $-3,400
2019 $93,050 $105,264 $27,698 $-12,214
2018 $72,736 $54,639 $39,912 $18,097
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