Project Restore Inc
- Assets
- $3.5m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 2
- Location
- Locust Dale, VA
- Founding
- 06/1995
- Data as of
- 12/2020
- EIN
- 54-1771213
Organization Overview
Project Restore Inc is located in Locust Dale, VA. The organization was established in 1995. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. As of 12/2020, Project Restore Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project Restore 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 12/2020, Project Restore Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL MINISTRY SPREADING THE GOSPEL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCTION, STORAGE AND DISTRIBUTION OF RELIGIOUS LITERATURE AND MEDIA - MAGAZINES, BOOKLETS, BOOKS AND CDS.
ASSIST OTHER NONPROFIT MINISTRIES.
ASSISTANCE TO INDIVIDUALS IN THE USA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia T Goss Secretary | OfficerTrustee | 40 | $39,000 |
Ronald J Goss President | OfficerTrustee | 40 | $39,000 |
Leonard G Willett Treasurer | OfficerTrustee | 1 | $1,255 |
Billy Martin Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,207,532 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,207,532 |
| Total Program Service Revenue | $54,670 |
| Investment income | $24,688 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,250 |
| 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 | $1,291,140 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $6,250 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $78,000 |
| Compensation of current officers, directors, key employees. | $25,350 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,353 |
| Payroll taxes | $5,967 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,280 |
| Advertising and promotion | $0 |
| Office expenses | $52,061 |
| Information technology | $1,063 |
| Royalties | $0 |
| Occupancy | $23,006 |
| Travel | $8,655 |
| 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 | $5,763 |
| Insurance | $0 |
| All other expenses | $1,263 |
| Total functional expenses | $1,785,954 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $513,456 |
| Savings and temporary cash investments | $538,487 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,197 |
| 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 | $296,936 |
| Net Land, buildings, and equipment | $1,429,922 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $673,788 |
| Total assets | $3,454,786 |
| Accounts payable and accrued expenses | $3,501 |
| 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 | $350,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $353,501 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $698,442 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,429,923 |
| Retained earnings, endowment, accumulated income, or other funds | $972,920 |
| Total liabilities and net assets/fund balances | $3,454,786 |
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