The Possible Project Inc is located in Boston, MA. The organization was established in 2010. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 12/2021, Possible Project Inc employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Possible Project 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, Possible Project Inc generated $12.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.5% each year . All expenses for the organization totaled $7.5m during the year ending 12/2021. While expenses have increased by 19.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE POSSIBLE PROJECT'S MISSION IS TO ADVANCE ECONOMIC EQUITY BY ENSURING YOUNG PEOPLE DEVELOP THE ENTREPRENEURIAL SPIRIT, SKILLS AND NETWORKS TO LAUNCH SUCCESSFUL CAREERS. THE POSSIBLE PROJECT (TPP) OFFERS HIGH SCHOOL STUDENTS IN BOSTON, MA A YEAR-ROUND, MULTI-YEAR ENTREPRENEURSHIP PROGRAM THAT INCLUDES A DYNAMIC, PROJECT-BASED CURRICULUM, STEAM EDUCATION, HANDS-ON WORK EXPERIENCE, AND INDIVIDUALIZED COLLEGE AND CAREER ADVISING. TPP'S YOUNG ENTREPRENEURS LAUNCH THEIR OWN COMPANIES, LEARN DESIGN AND ADVANCED MANUFACTURING, INTERN WITH LOCAL CORPORATIONS AND ORGANIZATIONS, AND MAP THEIR POSTSECONDARY GOALS AND PLANS. IN THE PROCESS, THEY DEVELOP CAREER READINESS, SOCIAL-EMOTIONAL, AND TECHNICAL SKILLS AND STRENGTHEN THEIR PROFESSIONAL IDENTITY, PREPARING THEM TO SUCCEED IN ANY FUTURE PATH THEY CHOOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TPZ'S PROGRAM IS A STEAM-INFUSED AND ENTREPRENEURSHIP-FOCUSED YOUTH DEVELOPMENT AND CAREER-READINESS PROGRAM FOR HIGH SCHOOL STUDENTS FROM HISTORICALLY UNDER-RESOURCED COMMUNITIES. THIS TUITION-FREE PROGRAM REPRESENTS AN INVESTMENT IN EACH STUDENT FOR 3+ YEARS, TAKING STUDENTS ON A JOURNEY THAT TAPS INTO THEIR CREATIVITY, CULTIVATES THEIR SKILLS AS DESIGNERS AND ENTREPRENEURS, BUILDS STRONG RELATIONSHIPS WITH SUPPORTIVE ADULTS AND PEERS, AND BROADENS THEIR SENSE OF WHAT IS POSSIBLE IN THEIR CAREERS.OUR MULTI-FACETED, TUITION-FREE PROGRAM USES: 1) AUTHENTIC, STEAM-INFUSED YOUTH ENTREPRENEURSHIP; 2) HANDS-ON STEAM DEEP DIVES AND REAL-WORLD, WORK-BASED LEARNING OPPORTUNITIES WITH LOCAL COMPANIES AND IN TPZ'S IN-HOUSE ENTERPRISES; AND 3) PERSONALIZED COLLEGE AND CAREER ADVISING TO INSPIRE STUDENTS' IMAGINATIONS, IGNITE THEIR PASSIONS, AND HELP THEM TO THRIVE IN LIFE AND CAREER. WHILE PARTICIPATING IN TPZ'S PROGRAM, EACH STUDENT CONCEIVES, LAUNCHES AND RUNS THEIR OWN BUSINESS VENTURE, PRIOR TO ENGAGING IN AUTHENTIC, REAL-WORLD WORK EXPERIENCE, WHILE ALSO RECEIVING PERSONALIZED ADVISING FOCUSED ON THEIR POST-SECONDARY AND CAREER OPTIONS. TPZ OPERATES ITS PROGRAM OUT OF ITS STATE-OF-THE-ART INNOVATION CENTER, WHICH OPENED IN EARLY 2022 IN THE JACKSON SQUARE COMMUNITY OF BOSTON.TPZ'S PROGRAM AND STUDENT SUPPORTS AIM TO FOSTER "ENTREPRENEURIAL SPIRIT" AMONG STUDENTS, CHARACTERIZED BY: (1) A SENSE OF BELONGING, AGENCY, PURPOSE, AND POSSIBILITY; (2) CRITICAL SKILLS, MINDSETS, AND ASSETS THAT ENABLE DEEPER LEARNING, PROMOTE PRODUCTIVE RISK-TAKING, AND ULTIMATELY FOSTER SUCCESS IN ANY EDUCATIONAL OR CAREER PATHWAY; AND (3) THE STRONG RELATIONSHIPS AND NETWORKS (I.E., SOCIAL CAPITAL) NEEDED FOR LONG-TERM PERSONAL AND PROFESSIONAL SUCCESS. THE DEMOGRAPHICS OF TPZ STUDENTS REFLECT ITS COMMITMENT TO ADVANCING EQUITY, WITH THE LARGE MAJORITY (~70%) COMING FROM UNDER-RESOURCED COMMUNITIES AND THE VAST MAJORITY (~95%) IDENTIFYING AS STUDENTS OF COLOR. TPZ FOCUSES NEW STUDENT RECRUITMENT ON PUBLIC HIGH SCHOOLS IN BOSTON. DATA SHOW THAT THE LARGE MAJORITY OF STUDENTS (~78%) SERVED BY THESE SCHOOLS ARE CLASSIFIED AS ECONOMICALLY DISADVANTAGED BY BOSTON PUBLIC SCHOOLS (BPS) AND ALMOST ALL (~95%) IDENTIFY AS STUDENTS OF COLOR. MANY STUDENTS COME TO TPZ THROUGH A NOMINATION PROCESS COMPLETED BY HIGH SCHOOL PARTNERS; A GUIDANCE COUNSELOR, TEACHER, SOCIAL WORKER, OR HEALTH PROFESSIONAL RECOMMENDS STUDENTS WITH UNTAPPED POTENTIAL FOR THE PROGRAM. TPZ ALSO RECRUITS STUDENTS FROM THE COMMUNITY SURROUNDING ITS INNOVATION CENTER, VIA COMMUNITY RECRUITMENT EVENTS AND PARTNERSHIPS WITH PUBLIC HOUSING DEVELOPMENTS AND COMPLEMENTARY YOUTH-SERVING ORGANIZATIONS IN THE AREA. STUDENTS WITHIN THE TPZ'S PROGRAMS RECEIVE SCHOLARSHIP STIPENDS FOR ENROLLING AND PARTICIPATING IN THE PROGRAM; STIPENDS ARE DESIGNED TO OFFSET THE COST OF THE PARTICIPATING IN THE PROGRAM. MANY STUDENTS USE STIPENDS EARNED THROUGH THE PROGRAM FOR BASIC NEEDS SUCH AS TRANSPORTATION, FOOD, CLOTHING, OR ASSISTANCE WITH HOUSEHOLD EXPENSES.SINCE ITS FOUNDING, TPZ HAS SERVED MORE THAN 1,000 STUDENTS IN BOSTON AND CAMBRIDGE, MA. INDIVIDUALLY OR IN TEAMS, STUDENTS PARTICIPATING IN TPZ'S PROGRAM HAVE LAUNCHED MORE THAN 400 ENTREPRENEURIAL VENTURES. STUDENTS PARTICIPATING IN TPZ'S PROGRAM HAVE REPORTED STATISTICALLY-SIGNIFICANT GROWTH ON THE VAST MAJORITY OF SOCIAL-EMOTIONAL LEARNING COMPETENCIES MEASURED OVER THE LAST FIVE YEARS. STUDENTS PARTICIPATING IN TPZ'S PROGRAM FROM THE ORGANIZATION'S LONGEST STANDING BOSTON PUBLIC SCHOOLS PARTNER SCHOOL HAVE MATRICULATED IN COLLEGE AT A RATE 26 PERCENTAGE POINTS HIGHER THAN STUDENTS FROM THE SAME HIGH SCHOOL THAT DID NOT PARTICIPATE IN TPZ'S PROGRAM.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lori Neuner Chief Talent Officer | Officer | 40 | $238,140 |
Jeremy Taylor Vp, Evaluation & Learning | Officer | 40 | $236,338 |
Peter November Chief Operating Officer | Officer | 40 | $225,628 |
Margaret Riordian Chief Learning Officer | Officer | 40 | $225,181 |
Jake Murray Chief External Affairs Off | Officer | 40 | $223,366 |
Robert Finnegan III Vp, Business Development | Officer | 40 | $200,009 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Elaine Construction Construction Manager | 12/30/21 | $9,414,593 |
Utile Inc Architectual And Engineering Services | 12/30/21 | $520,166 |
Leftfield Llc Project Management Services | 12/30/21 | $264,000 |
Porter Novelli Inc Public Relations Consulting | 12/30/21 | $211,390 |
Arredondo Advisory Group Diversity, Equity & Inclusion Consulting | 12/30/21 | $113,975 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $989,565 |
All other contributions, gifts, grants, and similar amounts not included above | $11,900,324 |
Noncash contributions included in lines 1a–1f | $1,868,377 |
Total Revenue from Contributions, Gifts, Grants & Similar | $12,889,889 |
Total Program Service Revenue | $7,559 |
Investment income | $0 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$9,210 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $12,891,174 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $71,795 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,873,773 |
Compensation of current officers, directors, key employees. | $142,857 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,125,057 |
Pension plan accruals and contributions | $47,609 |
Other employee benefits | $136,666 |
Payroll taxes | $293,155 |
Fees for services: Management | $0 |
Fees for services: Legal | $39,373 |
Fees for services: Accounting | $128,014 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $1,297,660 |
Advertising and promotion | $1,588 |
Office expenses | $158,549 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $1,068,972 |
Travel | $5,525 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $30,596 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $110,084 |
Insurance | $103,036 |
All other expenses | $0 |
Total functional expenses | $7,544,166 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $4,141,722 |
Savings and temporary cash investments | $1,834,714 |
Pledges and grants receivable | $580,534 |
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 | $155,403 |
Net Land, buildings, and equipment | $13,897,158 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $19,125 |
Total assets | $20,628,656 |
Accounts payable and accrued expenses | $1,495,827 |
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 | $11,468,076 |
Other liabilities | $932,726 |
Total liabilities | $13,896,629 |
Net assets without donor restrictions | $1,237,688 |
Net assets with donor restrictions | $5,494,339 |
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 | $20,628,656 |
Over the last fiscal year, we have identified 1 grants that The Possible Project Inc has recieved totaling $15,000.
Awarding Organization | Amount |
---|---|
A C Ratshesky Foundation Needham, MA PURPOSE: PROGRAM SUPPORT | $15,000 |
Organization Name | Assets | Revenue |
---|---|---|
Morrisville Auxiliary Of State Univ College Of Agricult & Technology Morrisville, NY | $25,329,251 | $17,429,247 |
Faculty Student Association State University College At Fredonia Inc Fredonia, NY | $20,429,854 | $14,962,919 |
The Jain Family Institute New York, NY | $1,266,575 | $5,283,522 |
Brockport Auxilary Service Corporation Brockport, NY | $15,024,153 | $10,683,968 |
Albert Einstein College Of Medicine Staff Housing Company Inc Bronx, NY | $37,908,103 | $6,828,997 |
The Possible Project Inc Boston, MA | $20,628,656 | $12,891,174 |
Bernard M Baruch College Auxiliary Enterprises Corporation New York, NY | $2,835,381 | $7,073,623 |
The Boston Education Development Foundation Inc Roxbury, MA | $14,159,042 | $7,338,660 |
Kimi Nichols Center Plaistow, NH | $2,742,152 | $7,599,619 |
University At Buffalo Student Association Inc Buffalo, NY | $6,243,803 | $4,544,119 |
Handz-On Inc Hartford, CT | $1,667,828 | $5,148,389 |
Empirical Resolution Inc New York, NY | $7,350,506 | $4,345,659 |