Project 40 31 Inc
- Assets
- $63.4k
- Revenue
- $801.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Hobbs, NM
- Founding
- 06/2011
- Data as of
- 12/2023
- EIN
- 27-4203557
Organization Overview
Project 40 31 Inc is located in Hobbs, NM. The organization was established in 2011. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project 40 31 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 12/2023, Project 40 31 Inc generated $801.2k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 16.7% each year . All expenses for the organization totaled $771.0k during the year ending 12/2023. While expenses have increased by 16.6% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS FOR IRS APPROVED NON-PROFIT ENTITIES THAT SUPPORT THE TERMINALLY ILL, UNDERPRIVILEDGED CHILDREN AND INDIVIDUALS WITH SPECIAL NEEDS OR DRUG ABUSE AND OTHER IRS APPROVED NON-PROFIT ENTITIES. THE ORGANIZATION HOLDS AN ANNUAL GOLF TOURNAMENT AND AUCTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HELD AN ANNUAL GOLF TOURNAMENT TO RAISE FUNDS FOR THE MAKE A WISH FOUNDATION, HABITAT FOR HUMANITY, PALMER DRUG ABUSE, LOVINGTON MUNICIPAL SCHOOLS, LOVINGTON FOOD COALITION, LIGHT OF LEA COUNTY, HEARTS DESIRE, UNITY RECOVERY SOLUTIONS, BOYS AND GIRLS CLUB, AND OTHER IRS APPROVED NON-PROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bridgette Curtis Board Member | Trustee | 1 | $0 |
Scott Curtis Board Member | Trustee | 1 | $0 |
Clay Goodwin Board Member | Trustee | 1 | $0 |
Justin Roberts President | Officer | 1 | $0 |
Melissa Soto Secretary | Officer | 1 | $0 |
Hayden Holub Vice President | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $560,446 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $101,094 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $560,446 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $240,779 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $801,225 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $760,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,000 |
| 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 | $10 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $771,010 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,397 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| 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 | $63,397 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $63,397 |
| 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 | $63,397 |
Grants Awarded
Over the last fiscal year, Project 40 31 Inc has awarded $760,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
MAKE-A-WISH FOUNDATION OF NEW MEXICO PURPOSE: TO GRANT LIFE-CHANGING WISHES FOR CHILDREN WITH CRITICAL ILLNESSES. | $400,000 |
PALMER DRUG ABUSE PROGRAM OF LEA COUNTY INC PURPOSE: TO FUND PREVENTION AND RECOVERY PROGRAMS THAT HELP YOUNG PEOPLE AND FAMILIES AVOID OR RECOVER FROM THE DEVASTATING EFFECTS OF DRUG AND ALCOHOL ABUSE. | $75,000 |
BOYS & GIRLS CLUB OF HOBBS PURPOSE: TO ENABLE ALL YOUNG PEOPLE, ESPECIALLY THOSE IN NEED, TO REACH THEIR FULL POTENTIAL AS PRODUCTIVE, CARING, RESPONSIBLE CITIZENS. | $100,000 |
HABITAT FOR HUMANITY OF HOBBS NM AREA PURPOSE: TO PROMOTE THE MISSION OF BRINGING PEOPLE TOGETHER TO BUILD HOMES, COMMUNITIES, AND HOPE TO THE COMMUNITY AND SURROUNDING COMMUNITIES OF HOBBS, NM. | $60,000 |
LOVINGTON MUNICIPAL SCHOOL DISTRICT PURPOSE: TO PROVIDE OPPORTUNITIES FOR STUDENTS TO CREATE, ACHIEVE, TRANSFORM, AND SUCCEED IN A SAFE ENVIRONMENT TO REACH THEIR HIGHEST POTENTIAL. | $40,000 |
LOVINGTON FOOD COALITION PURPOSE: TO MEET THE NEEDS OF THOSE WHO HAVE INADEQUATE FOOD RESOURCES. | $10,000 |