PROJECT 58 (EIN 812188516) - Form 990 Financial Analysis & Trantor Score

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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

2016

Legal Domicile

Principal Officer

ROY MORGAN

Tax Period

2020-01-01 to 2020-12-31

PROJECT 58, founded in 2016, is a micro nonprofit in the Religion sector that reported $65K in total revenue in fiscal year 2020. Revenue fell 92% from the prior year — a significant decline worth monitoring. Expenses of $466K exceeded revenue, resulting in a 618% operating deficit.

Mission

PROJECT 58 IS A CHRISTIAN NONPROFIT ORGANIZATION THAT DESIRES TO PROMOTE THE GOSPEL OF JESUS CHRIST BY MINISTERING TO THE SPIRITUAL AND PHYSICAL NEEDS OF THE PEOPLE WITHIN AND AROUND NORTH CAROLINA. THE FOUNDERS OF PROJECT 58 HAVE PERSONALLY SEEN HOW GREAT THOSE NEEDS ARE AND DESIRE TO SHOW THE LOVE OF CHRIST THROUGH MINISTERING TO THOSE NEEDS. PROJECT 58 INTENDS TO MINISTER TO THE NEEDS OF THE PEOPLE OF NORTH CAROLINA IN THE FOLLOWING AREAS BY USING THE CONTRIBUTIONS IT RECEIVES FOR THE PURPOSES OF 1. PROVIDING FOOD AND OTHER NECESSARY ITEMS 2. PROVIDING MEDICAL SUPPLIES AND PROGRAMS 3. PROVIDING SHELTER 4. SUPPORTING OTHER NONPROFITS IN THEIR WORK 5. PROVIDING COUNSELING AND EDUCATIONAL PROGRAMS AND 6. PROMOTING CHRISTIAN EVANGELISM.

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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%)

Financial Overview (2020)

Revenue Breakdown

Contributions & Grants $65,009

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $65,009

Expense Breakdown

Grants Paid $250,492

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $337,832

Other Expenses $216,003

TOTAL EXPENSES $466,495

Year-over-Year Comparison

	2020	2019	Change
Revenue	$65,009	$820,263	-0.9%
Expenses	$466,495	$546,154	-0.1%
Net Income	$-401,486	$274,109	-2.5%

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

Governance

Voting Members

Independent Members

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROY MORGAN	PRESIDENT	008.00	Officer Director	$0	$0	$0
TODD BARTLETT	SECRETARY	001.00	Officer	$0	$0	$0
SCOTT VAN EERDEN	TREASURER	001.00	Officer	$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
2020	$65,009	$466,495	$1,861,499	$-401,486
2019	$820,263	$546,154	$2,262,194	$274,109
2018	$403,610	$477,161	$1,985,964	$-73,551

PROJECT 58