1MILLION PROJECT FOUNDATION

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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

2017

Legal Domicile

Principal Officer

DOUG MICHELMAN

Phone

8445735289

Tax Period

2019-04-01 to 2020-03-31

1MILLION PROJECT FOUNDATION, founded in 2017, is a community nonprofit that reported $5.8M in total revenue in fiscal year 2019. Revenue fell 68% from the prior year — a significant decline worth monitoring. Expenses of $9.0M exceeded revenue, resulting in a 54% operating deficit.

Mission

To help, over the course of multiple years, one million K-12 students who do not have reliable internet access at home reach their full educational potential by giving them mobile devices and free high-speed internet access.

Program Service Accomplishments

Program 1

Expenses: $7,635,209 Revenue: $0

The 1Million Project - 70% of America's school teachers assign homework online, but more than five million families with school-aged children don't have home internet connectivity. We believe in the potential of all students to excel. Our goal is to enable one million K-12 students to dream bigger, explore further, and face fewer obstacles to opportunity with free mobile devices and high-speed wireless internet access. During the first three years of the 1Million Project, approximately 226,000 students in approximately 250 school districts within 35 states were equipped with free mobile devices and high-speed wireless internet access.

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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 (2019)

Revenue Breakdown

Contributions & Grants $6,127,098

Program Service Revenue $0

Investment Income $100,770

Other Revenue $-382,700

TOTAL REVENUE $5,845,168

Expense Breakdown

Grants Paid $6,419,418

Salaries & Benefits $0

Fundraising Expenses $189,689

Program Expenses $7,635,209

Other Expenses $2,563,353

TOTAL EXPENSES $8,982,771

Year-over-Year Comparison

	2019	2018	Change
Revenue	$5,845,168	$18,252,392	-0.7%
Expenses	$8,982,771	$8,731,896	+0.0%
Net Income	$-3,137,603	$9,520,496	-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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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

150

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

$2,664,981

Total Directors

$5,589,914

Key Employees

$198,263

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Doug Michelman	President	40	Officer Director	$0	$6,764	$1,595,210
Vonya McCann	Director	0	Director	$0	$0	$1,513,357
Paul Schieber Jr	Treasurer	0	Officer Director	$0	$18,832	$1,063,060
David Tovar	Director	0	Director	$0	$7,164	$981,936
Josh Morton	Senior Advisor	40	Highest	$0	$89,925	$703,987
Debra Ballard	Director	0	Director	$0	$13,469	$429,640
John Branam	Executive Director	0	Key Emp	$0	$0	$198,263
Daniel Cox	National School Implementation Manager	40	Highest	$0	$13,045	$167,517
Robinette Postlewait	Communications Manager	40	Highest	$0	$14,739	$153,720
Jennifer Lewis	Operations Manager	40	Highest	$0	$15,328	$153,155
Jason Moulin	Accounting Manager	30	Highest	$0	$20,339	$139,827
Jennifer Webb	Secretary	0	Officer Director	$0	$1,365	$6,711

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	$5,845,168	$8,982,771	$8,054,178	$-3,137,603
2019	$18,252,392	$8,731,896	$11,627,308	$9,520,496