Project Purple Inc
- Assets
- $1.1m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 11
- Location
- Seymour, CT
- Founding
- 04/2011
- Data as of
- 12/2021
- EIN
- 27-3492063
Organization Overview
Project Purple Inc is located in Seymour, CT. The organization was established in 2011. According to its NTEE Classification (H12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Medical Research and related organizations. As of 12/2021, Project Purple Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project Purple 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 Purple Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 5.5% 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 MISSION OF PROJECT PURPLE IS TO RAISE AWARENESS AND FUNDS TOWARD A CURE OF PANCREATIC CANCER. IN ADDITION, PROJECT PURPLE MOTIVATES PEOPLE TO RUN IN WORLD RENOWNED MARATHONS AND HALF MARATHONS TO RAISE MISSION CRITICAL FUNDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM AND MARATHON ACTIVITIES OUR PRIMARY FUNDRAISING COMES FROM PARTICIPATING IN MARATHONS, HALF MARATHONS, AND 5K RACES ACROSS THE COUNTRY; INCLUDING THE TOP FOUR U.S. MARATHONS. OUR TEAM CONSISTS OF RUNNERS FROM ALL OVER THE WORLD, MOST OF THEM HAVE BEEN TOUCHED BY PANCREATIC CANCER.
RESEARCH, SCHOLARSHIPS AND PATIENT AID PROJECT PURPLE HAS BECOME A LEADING PROVIDER OF FINANCIAL AID TO FAMILIES BATTLING PANCREATIC CANCER. WE OFFER GRANTS TO FAMILIES THAT ARE BATTLING THIS DISEASE FROM ALL OVER THE UNITED STATES. WE OFFER FINANCIAL ASSISTANCE WITH HOUSING, UTILITIES, MEDICAL, AND WE ALSO HAVE A MISCELLANEOUS CATEGORY THAT HAS BEEN USED TO COVER THINGS LIKE GAS, ALTERNATIVE LODGING, AND ANYTHING NOT COVERED IN THE OTHER CATEGORIES. PATIENTS ARE ELIGIBLE TO APPLY ONCE EVERY 12 MONTHS AND OUR TYPICAL CYCLE LASTS ANYWHERE FROM 3-4 WEEKS, DEPENDING ON THE APPLICATION, IF ALL THE REQUIREMENTS ARE IN GOOD ORDER. WE REQUIRE PATIENTS TO SUBMIT PROOF OF DIAGNOSIS AND CURRENT PROTOCOL, PHOTO ID, PREVIOUS YEAR'S TAX FILING, AS WELL AS ANY BILLS THAT THEY ARE LOOKING FOR ASSISTANCE WITH. PROJECT PURPLE IS COMMITTED TO FUNDING CRITICAL RESEARCH TOWARDS A CURE AND EARLY DETECTION OF PANCREATIC CANCER. PROJECT PURPLE HAS FUNDED OVER 2,000,000 SINCE INCEPTION FOR CLINICAL AND SCIENTIFIC RESEARCH TOWARDS ITS MISSION WITH SOME OF THE TOP SCIENTISTS AND DOCTORS IN THE UNITED STATES WORKING TOWARDS THAT GOAL. OUR RESEARCH APPROACH IS TO ASSIST IN FUNDING OF THIS CRITICAL RESEARCH WITH SOME OF THE TOP SCIENTISTS AND DOCTORS IN THE UNITED STATES. THE SCOPE OF THE MANY PROJECTS HAS RANGED FROM IMMUNOLOGY, EARLY DETECTION, BASIC SCIENCE, CLINICAL TRIALS AND MUCH MORE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandino Verrelli Founder And | OfficerTrustee | 40 | $134,183 |
Tony Luongo Vice Preside | OfficerTrustee | 3 | $0 |
Kathleen Balducci Secretary | OfficerTrustee | 2 | $0 |
Bryan Lively President | OfficerTrustee | 3 | $0 |
Alex Palios Treasurer | OfficerTrustee | 3 | $0 |
Sara Polio - Outgoing Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $151,006 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,176,964 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,327,970 |
| Total Program Service Revenue | $60,466 |
| Investment income | $1,815 |
| 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 | $3,451 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,393,702 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $142,573 |
| Grants and other assistance to domestic individuals. | $84,064 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $160,361 |
| Compensation of current officers, directors, key employees. | $32,073 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $166,045 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,522 |
| Payroll taxes | $28,341 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,550 |
| Fees for services: Accounting | $13,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,760 |
| Advertising and promotion | $77,445 |
| Office expenses | $39,228 |
| Information technology | $26,543 |
| Royalties | $0 |
| Occupancy | $26,280 |
| Travel | $15,047 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,966 |
| Insurance | $1,941 |
| All other expenses | $9,498 |
| Total functional expenses | $1,061,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $820,967 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $92,607 |
| Accounts receivable, net | $105,439 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $18,758 |
| Prepaid expenses and deferred charges | $58,397 |
| Net Land, buildings, and equipment | $6,564 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $16,980 |
| Other assets | $4,000 |
| Total assets | $1,123,712 |
| Accounts payable and accrued expenses | $57,882 |
| 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 | $2,250 |
| Total liabilities | $60,132 |
| Net assets without donor restrictions | $1,063,580 |
| Net assets with donor restrictions | $0 |
| 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 | $1,123,712 |
Grants Awarded
Over the last fiscal year, Project Purple Inc has awarded $152,573 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Ann Arbor, MI PURPOSE: CANCER RESEARCH | $125,000 |
Lincoln, NE PURPOSE: RESEARCH GRANTS | $27,573 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Project Purple Inc has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Alan & Vicki Levine Family Foundation Inc Lighthouse Point, FL PURPOSE: SUPPORTS THOSE AFFLICTED WITH PANCREATIC CANCER | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Health Effects Institute Boston, MA | $12,526,721 | $12,481,645 |
Hope For Depression Research Foundation New York, NY | $59,831,359 | $6,866,948 |
Israel Cancer Research Fund Inc New York, NY | $17,015,756 | $7,146,502 |
Life Science Cares Inc Cambridge, MA | $8,104,702 | $8,289,428 |
Haymakers For Hope Inc Wellesley, MA | $644,411 | $4,070,620 |
The Progeria Research Foundation Inc Peabody, MA | $53,690,802 | $49,219,762 |
Dubai Harvard Foundation For Medical Research Inc Boston, MA | $15,096,309 | $431,547 |
The Curetivity Foundation Darien, CT | $568,541 | $2,365,515 |
Jett Foundation Inc Plymouth, MA | $2,196,455 | $2,598,639 |
Adenoid Cystic Carcinoma Researchfoundation Needham, MA | $3,133,519 | $2,427,133 |
Detectogether Inc Westborough, MA | $4,462,075 | $2,393,158 |
Solving Kids Cancer Inc New York, NY | $2,774,299 | $676,733 |