PROJECT FIRST RATE

EIN: 800906394 Community Improvement

ROCKFORD, IL

Total Revenue
$295,209
Total Expenses
$304,593
Total Assets
$126,201
Net Assets
$124,251
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
IL
Principal Officer
DAVID ANSPAUGH
Phone
8159046833
Tax Period
2024-06-01 to 2025-05-31

PROJECT FIRST RATE, founded in 2013, is a small nonprofit in the Community Improvement sector that reported $295K in total revenue in fiscal year 2024.

Mission

PROMOTING THE DEVELOPMENT, ESTABLISHMENT, OR EXPANSION OF INDUSTRIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,750
Program Service Revenue $293,459
Investment Income $0
Other Revenue $0
TOTAL REVENUE $295,209

Expense Breakdown

Grants Paid $37,757
Salaries & Benefits $125,068
Fundraising Expenses $0
Other Expenses $141,768
TOTAL EXPENSES $304,593

Year-over-Year Comparison

2024 2023 Change
Revenue $295,209 $283,255 +0.0%
Expenses $304,593 $305,596 0.0%
Net Income $-9,384 $-22,341 -0.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
19
Independent Members
19
Employees
1
Volunteers
N/A

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
1
$112,170
Total Directors
23
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHARLES BARRETT BOARD MEMBER 1.00
Director
$0 $0 $0
BRAD LONG BOARD MEMBER 1.00
Director
$0 $0 $0
LINDA MCHUGH BOARD MEMBER 1.00
Director
$0 $0 $0
KEITH GAHL SECRETARY 1.00
Director
$0 $0 $0
FORTUNATO SALAMONE CO-CHAIR 1.00
Director
$0 $0 $0
DAVID ANSPAUGH BOARD MEMBER 1.00
Director
$0 $0 $0
MARK SZULA BOARD MEMBER - PAST 1.00
Director
$0 $0 $0
RICHARD SHUGA BOARD MEMBER 1.00
Director
$0 $0 $0
BILL SPRAGUE CO-CHAIR 1.00
Director
$0 $0 $0
TRAVIS GORMAN BOARD MEMBER 1.00
Director
$0 $0 $0
JOSEPH COOK BOARD MEMBER 1.00
Director
$0 $0 $0
DEBRA SULLIVAN TREASURER 1.00
Director
$0 $0 $0
ERIK CALVERT BOARD MEMBER 1.00
Director
$0 $0 $0
LEN SAUNDERS BOARD MEMBER 1.00
Director
$0 $0 $0
LARRY ROWLETT BOARD MEMBER 1.00
Director
$0 $0 $0
MARK PALMER BOARD MEMBER 1.00
Director
$0 $0 $0
FRANK TARARA BOARD MEMBER - PAST 1.00
Director
$0 $0 $0
ART STURMS BOARD MEMBER - PAST 1.00
Director
$0 $0 $0
GREG HARLE BOARD MEMBER - PAST 1.00
Director
$0 $0 $0
TOM MATUS BOARD MEMBER - NEW 1.00
Director
$0 $0 $0
MIKE GETZELMAN BOARD MEMBER - NEW 1.00
Director
$0 $0 $0
MATT TRIELOFF BOARD MEMBER - NEW 1.00
Director
$0 $0 $0
RYAN MARSHALL BOARD MEMBER - NEW 1.00
Director
$0 $0 $0
PAUL NOLLEY EXECUTIVE DIRECTOR 40.00
Officer
$95,466 $16,704 $112,170
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
2025 $295,209 $304,593 $126,201 $-9,384
2024 $283,255 $305,596 $135,528 $-22,341
2023 $264,057 $292,661 $158,029 $-28,604
2022 $238,761 $196,912 $186,327 $41,849
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