Precious Project Inc
- Assets
- $1.0m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 3
- Location
- Lincoln, MA
- Founding
- 12/2014
- Data as of
- 12/2021
- EIN
- 47-1281673
Organization Overview
Precious Project Inc is located in Lincoln, MA. The organization was established in 2014. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Precious Project Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Precious 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, Precious Project Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.0% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 25.8% 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
TO ERADICATE POVERTY AND ILLITERACY IN THE TANZANIAN VILLAGE OF NSHUPU.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRECIOUS PROJECT IS HELPING TO TRANSFORM A RURAL, IMPOVERISHED COMMUNITY IN TANZANIA BY ELIMINATING DISPARITIES IN EDUCATION, CARE OF CHILDREN AND ECONOMIC DEVELOPMENT. THE PROJECT'S FOUNDATION IS BASED ON FIVE PILLARS: PROVIDING CHILDREN ACCESS TO QUALITY EDUCATION; CARING FOR ORPHANS AND ABANDONED CHILDREN; EMPOWERING WOMEN WITH SKILLS TO CREATE MICRO-BUSINESSES; EDUCATING THE NEXT GENERATION TO PARTICIPATE IN THE DIGITAL ECONOMY; MODELING AND TEACHING AGRICULTURAL BEST PRACTICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elliot Kronstein President | OfficerTrustee | 15 | $0 |
Matthew Gardner Treasurer | OfficerTrustee | 5 | $0 |
Charles Phillips Chair | OfficerTrustee | 5 | $0 |
Jim Logan Clerk | OfficerTrustee | 5 | $0 |
Gilbert Williams Co-Founder/director | Trustee | 10 | $0 |
Susanne Rheault-Williams Co-Founder/director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $33,672 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,151,623 |
| Noncash contributions included in lines 1a–1f | $4,495 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,185,295 |
| Total Program Service Revenue | $0 |
| Investment income | $899 |
| 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 | $1,212,257 |
| 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 | $1,358,741 |
| 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 | $145,819 |
| Pension plan accruals and contributions | $4,673 |
| Other employee benefits | $13,589 |
| Payroll taxes | $14,687 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,469 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,255 |
| Advertising and promotion | $0 |
| Office expenses | $25,881 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $311 |
| 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 | $1,754 |
| All other expenses | $6,750 |
| Total functional expenses | $1,607,929 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $255,235 |
| Savings and temporary cash investments | $557,786 |
| Pledges and grants receivable | $78,670 |
| Accounts receivable, net | $26,063 |
| 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 | $130,858 |
| 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 | $1,048,612 |
| Accounts payable and accrued expenses | $9,513 |
| 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 | $9,513 |
| Net assets without donor restrictions | $467,371 |
| Net assets with donor restrictions | $571,728 |
| 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 | $1,048,612 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Precious Project Inc has recieved totaling $210,154.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $165,172 |
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $20,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $10,082 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $7,900 |
Susan And Barry Tatelman Family Foundation Boston, MA PURPOSE: GENERAL & UNRESTRICTED | $7,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Givinga Foundation Inc Wellesley, MA | $2,876,364 | $15,849,424 |
Justgive Inc Weston, CT | $5,012,575 | $11,301,311 |
Clara Lionel Foundation New York, NY | $44,086,810 | $23,596,509 |
Visionspring New York, NY | $15,269,850 | $12,679,680 |
America Gives Inc New York, NY | $1,069,288 | $7,827,978 |
Foundations In Education Inc Bridgeport, CT | $36,181,181 | $11,526,982 |
Grant Recommendation Fund Spring Valley, NY | $460,055 | $4,767,095 |
The Catherine Jefferson Foundation Darien, CT | $18,987,801 | $13,741,460 |
Bikoff Foundation Whitestone, NY | $65,723,002 | $14,790,071 |
Giving Tuesday Inc Brooklyn, NY | $1,987,227 | $3,527,479 |
The Meringoff Family Foundation Inc New York, NY | $455,360 | $3,000,005 |
Island Outreach Foundation Inc Center Moriches, NY | $19,989,596 | $2,168,344 |