PROJECT EQUITY

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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

2021

Legal Domicile

Principal Officer

EVAN EDWARDS

Phone

5103806300

Tax Period

2024-04-01 to 2025-03-31

PROJECT EQUITY, founded in 2021, is a community nonprofit in the Community Improvement sector that reported $8.3M in total revenue in fiscal year 2024. Revenue surged 3315% from the prior year, signaling strong growth momentum. The organization ran a surplus of $6.4M, a strong 77% operating margin.

Mission

PROJECT EQUITY IS A NATIONAL LEADER IN THE MOVEMENT TO HARNESS EMPLOYEE OWNERSHIP TO MAINTAIN THRIVING LOCAL BUSINESS COMMUNITIES, HONOR SELLING OWNERS LEGACIES, AND ADDRESS INCOME AND WEALTH INEQUALITY.

Program Service Accomplishments

Program 1

Expenses: $1,535,583 Revenue: $7,613,666

PROJECT EQUITY WORKS WITH PARTNERS AROUND THE COUNTRY TO RAISE AWARENESS ABOUT EMPLOYEE OWNERSHIP AS AN EXIT STARTEGY FOR BUSINESS OWNERS, AND AS AN IMPORTANT APPROACH FOR INCREASING EMPLOYEE...

PROJECT EQUITY WORKS WITH PARTNERS AROUND THE COUNTRY TO RAISE AWARENESS ABOUT EMPLOYEE OWNERSHIP AS AN EXIT STARTEGY FOR BUSINESS OWNERS, AND AS AN IMPORTANT APPROACH FOR INCREASING EMPLOYEE ENAGAGEMENT AND WELL BEING. WE ALSO PROVIDE HANDS ON CONSULTING, SUPPORT AND FINANCING TO COMPANIES THAT WANT TO TRANSITION TO EMPLOYEE OWNERSHIP, AS WELL AS, TO THE NEW EMPLOYEE-OWNERS TO ENSURE THEY AND THEIR BUSINESS THRIVE AFTER TRANSITION.

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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 (2024)

Revenue Breakdown

Contributions & Grants $7,867,551

Program Service Revenue $164,390

Investment Income $198,712

Other Revenue $23,683

TOTAL REVENUE $8,254,336

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,005,701

Fundraising Expenses $208,084

Program Expenses $1,535,583

Other Expenses $896,171

TOTAL EXPENSES $1,901,872

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,254,336	$241,700	+33.2%
Expenses	$1,901,872	$220,376	+7.6%
Net Income	$6,352,464	$21,324	+296.9%

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

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

$73,237

Total Directors

$106,749

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EVAN EDWARDS	PRESIDENT CEO	40.00	Officer Director	$71,493	$1,744	$73,237
JASON EBY	SECRETARY COS	40.00	Director	$32,764	$748	$33,512
ERIC WEAVER	DIRECTOR	1.00	Director	$0	$0	$0
JAMES ALVA	DIRECTOR	1.00	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
2025	$8,254,336	$1,901,872	$15,756,924	$6,352,464
2025	$8,031,736	$1,901,872	$14,815,921	$6,129,864
2024	$241,700	$220,376	$4,927,054	$21,324
2023	$1,764,799	$71,001	$4,810,090	$1,693,798
2022	$1,187,007	$13,462	$1,709,037	$1,173,545