Project Invent
- Assets
- $845.8k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 9
- Location
- San Francisco, CA
- Founding
- 03/2019
- Data as of
- 06/2023
- EIN
- 82-4377729
Organization Overview
Project Invent is located in San Francisco, CA. The organization was established in 2019. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., under the broad grouping of Science & Technology and related organizations. As of 06/2023, Project Invent employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project Invent 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 06/2023, Project Invent generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 28.9% each year . All expenses for the organization totaled $1.1m during the year ending 06/2023. 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
PROJECT INVENT EMPOWERS STUDENTS WITH THE 21ST-CENTURY SKILLS TO SUCCEED INDIVIDUALLY AND IMPACT GLOBALLY, THROUGH INVENTION FOR SOCIAL GOOD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM 1: TRAINED AND SUPPORTED TEACHERS AT 50+ SCHOOLS TO IMPLEMENT THE PROJECT INVENT PROGRAM FOR 800+ STUDENTS. PROGRAM 2: HOSTED 9 DEMO DAYS FOR STUDENTS TO PRESENT INVENTIONS TO TOP INVESTORS AND TECH EXECUTIVES. PROGRAM 3: PUBLISHED CURRICULUM AND RESOURCES USED IN OVER 3000 CLASSROOMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jax Chaudhry Executive Dir. | Officer | 40 | $55,430 |
Aragon Burlingham President | OfficerTrustee | 8 | $0 |
Cynthia Johanson Secretary | OfficerTrustee | 5 | $0 |
Matt Gallatin Treasurer | OfficerTrustee | 5 | $0 |
Bill Heil Director | Trustee | 5 | $0 |
Albert Lee Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $81,700 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,044,118 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,125,818 |
| Total Program Service Revenue | $19,950 |
| Investment income | $11,101 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$18,125 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $58 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,138,802 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,414 |
| Grants and other assistance to domestic individuals. | $22,510 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $155,131 |
| Compensation of current officers, directors, key employees. | $77,565 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $633,388 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $57,312 |
| Payroll taxes | $64,100 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,168 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,398 |
| Advertising and promotion | $7,396 |
| Office expenses | $22,159 |
| Information technology | $19,041 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $82,562 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,322 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $910 |
| All other expenses | $0 |
| Total functional expenses | $1,148,984 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $179,869 |
| Savings and temporary cash investments | $205,654 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $460,240 |
| 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 | $845,763 |
| Accounts payable and accrued expenses | $50,772 |
| Grants payable | $0 |
| Deferred revenue | $250,000 |
| 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 | $300,772 |
| Net assets without donor restrictions | $544,991 |
| 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 | $845,763 |