Project Invest
- Assets
- $611.5k
- Revenue
- $386.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 09/1986
- Data as of
- 08/2023
- EIN
- 13-3315296
Organization Overview
Project Invest is located in Alexandria, VA. The organization was established in 1986. According to its NTEE Classification (V22) the organization is classified as: Economics, under the broad grouping of Social Science and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project Invest 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 08/2023, Project Invest generated $386.1k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $398.1k during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by 0.0% per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO EDUCATE, PREPARE AND ATTRACT DIVERSE NEW TALENT TO THE INSURANCE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INVEST IS A GRASSROOTS PROGRAM THAT TEAMS HIGH SCHOOL AND COLLEGE EDUCATORS WITH VOLUNTEERS FROM THE INSURANCE INDUSTRY TO PROVIDE INSURANCE INSTRUCTION USING ITS ONLINE AND PRINTED CURRICULUM. THE PROGRAM ENCOURAGES THE PURSUIT OF INSURANCE CAREERS BY EXPOSING STUDENTS TO CAREER PATHWAYS INCLUDING JOB SHADOWING, SCHOLARSHIPS, CAREER COACHING, AND INTERNSHIPS. INVEST HAS SERVED OVER 950 SCHOOLS NATIONWIDE AND CONTINUES TO GROW RAPIDLY ACROSS THE UNITED STATES IN HIGH SCHOOLS AND COMMUNITY COLLEGES. NEARLY 33% OF THE SCHOOLS OFFERING THE INVEST PROGRAM ARE IN MINORITY AND LOW INCOME COMMUNITIES. IN ADDITION, INVEST CONTINUES TO EXPAND ITS PROGRAMMING WITH WORKFORCE DEVELOPMENT GROUPS IN UNDERSERVED COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Glass Board Member | Trustee | 2 | $0 |
Darcy Waddell Board Member | Trustee | 2 | $0 |
David Marlett Board Member | Trustee | 2 | $0 |
Diane Wagner Board Member | Trustee | 2 | $0 |
Dori King Board Member | Trustee | 2 | $0 |
Doug Mohr Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $25,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $356,886 |
| Noncash contributions included in lines 1a–1f | $820 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $381,886 |
| Total Program Service Revenue | $0 |
| Investment income | $4,192 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $386,078 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $14,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $161,963 |
| Compensation of current officers, directors, key employees. | $25,914 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,539 |
| Pension plan accruals and contributions | $1,311 |
| Other employee benefits | $32,337 |
| Payroll taxes | $15,901 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,695 |
| 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 | $8,917 |
| Information technology | $4,754 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $42,729 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,925 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $398,080 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $597,304 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,200 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $611,504 |
| Accounts payable and accrued expenses | $39,474 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $78,898 |
| Total liabilities | $118,372 |
| Net assets without donor restrictions | $479,482 |
| Net assets with donor restrictions | $13,650 |
| 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 | $611,504 |