Project Adventure Inc
- Assets
- $1.9m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 100
- Location
- Beverly, MA
- Founding
- 02/1982
- Data as of
- 12/2021
- EIN
- 04-2749823
Organization Overview
Project Adventure Inc is located in Beverly, MA. The organization was established in 1982. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Project Adventure Inc employed 100 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project Adventure Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Project Adventure Inc generated $4.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $2.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOP AND DISSEMINATE MODEL ADVENTURE BASED PROGRAMS FOR BOTH THERAPEUTIC ORGANIZATIONS AND CORPORATE TRAINING PROGRAMS THROUGHOUT THE WORLD.
Describe the Organization's Program Activity:
PROGRAM SERVICES - CONSULTING, INSTRUCTION AND WORKSHOPS PRESENTING THE ADVENTURE PROGRAMMING AND TOOLS TO IMPLEMENT PROGRAMS IN SCHOOLS AND OTHER EDUCATIONAL INSTITUTIONS.
PROGRAM SERVICES-CONSULTING, INSTRUCTION AND WORKSHOPS PRESENTING THE ADVENTURE PROGRAMING AND TOOLS TO IMPLEMENT PROGRAMS IN SCHOOLS AND OTHER EDUCATION INSTITUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caitlin Mccormick Small President | Officer | 40 | $102,596 |
Elizabeth Norris Neu Clerk | Officer | 40 | $97,334 |
Stephen Goeben Treasurer | OfficerTrustee | 2 | $0 |
Christopher Weld Jr Chairman | OfficerTrustee | 2 | $0 |
Diana Mathey Director | Trustee | 2 | $0 |
Alida Bryant Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $69,900 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $69,900 |
| Total Program Service Revenue | $3,492,711 |
| Investment income | $132 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,141,002 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,703,745 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,258,241 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $118,023 |
| Payroll taxes | $148,133 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $186,989 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $99,133 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,293 |
| Insurance | $111,312 |
| All other expenses | $189,155 |
| Total functional expenses | $2,548,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,311,508 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $454,379 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $29,146 |
| Prepaid expenses and deferred charges | $83,204 |
| Net Land, buildings, and equipment | $3,231 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $14,156 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,895,624 |
| Accounts payable and accrued expenses | $798,710 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $87,948 |
| Secured mortgages and notes payable | $34,436 |
| Unsecured mortgages and notes payable | $193,497 |
| Other liabilities | $0 |
| Total liabilities | $1,114,591 |
| Net assets without donor restrictions | $767,388 |
| Net assets with donor restrictions | $13,645 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,895,624 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Project Adventure Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Institution For Savings In Newbrypt & Its Vcnty Chrtble Foundation Inc Newburyport, MA PURPOSE: EXEMPT PURPOSE | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New York State Public High School Athletic Association Inc Farmingville, NY | $1,517,240 | $5,856,622 |
Bike New York Inc New York, NY | $4,166,926 | $2,379,962 |
Project Adventure Inc Beverly, MA | $1,895,624 | $4,703,745 |
Innercity Weightlifting Inc Boston, MA | $3,964,091 | $4,030,474 |
Baker Hill Golf Club Newbury, NH | $15,770,767 | $2,524,195 |
Doc Wayne Youth Services Inc Boston, MA | $1,355,215 | $2,243,484 |
Park Housing Development Fund Company Inc Flushing, NY | $4,600,496 | $988,773 |
Underground Bowling Association Inc Freeport, NY | $128,797 | $1,189,863 |
Larchmont Manor Park Society Larchmont, NY | $1,812,856 | $1,373,581 |
Atlantic Hockey Association Inc Winthrop, MA | $457,452 | $1,032,133 |
Vermont Atv Sportsmans Association Inc Barre, VT | $867,519 | $1,211,642 |
Niagara Frontier Junior Hockey Club Inc Grand Island, NY | $406,318 | $910,051 |