Preface Project Inc
- Assets
- $187.5k
- Revenue
- $89.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Duluth, GA
- Founding
- 04/2019
- Data as of
- 12/2023
- EIN
- 83-3903496
Organization Overview
Preface Project Inc is located in Duluth, GA. The organization was established in 2019. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Preface 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 12/2023, Preface Project Inc generated $89.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (22.6%) each year. All expenses for the organization totaled $61.4k during the year ending 12/2023. 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
THE ORGANIZATION IS A CHARITABLE NONPROFIT THAT JUMP-STARTS CHILDHOOD LITERACY BY PAIRING HIGH SCHOOL MENTORS WITH ELEMENTARY SCHOOL STUDENTS FOR VIRTUAL AND IN-PERSON READING SESSIONS, WHILE PROVIDING SERVICE AND SCHOLARSHIP OPPORTUNITIES FOR THE NEXT GENERATION TO SET THEM UP FOR A LIFETIME OF LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EMPOWERING COMMUNITES TO COMBAT EARLY CHILDHOOD ILLITERACY THROUGH IN-PERSON AND VIRTUAL READING SESSIONS, WHILE ALSO INVESTING IN FOUNDATIONAL EDUCATIONAL OPPORTUNITIES FOR THE NEXT GENERATION, THROUGH SCHOLARSHIP AND MENTORSHIP OPPORTUNITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Wu Executive Director / Board Member | OfficerTrustee | 8 | $0 |
Antigone Valen CFO / Board Member | OfficerTrustee | 1 | $0 |
David Via COO / Board Member | OfficerTrustee | 8 | $0 |
Devon Mccourt Board Member | Trustee | 1 | $0 |
Wandy Taylor Board Member | Trustee | 1 | $0 |
Sumner Mccallie Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $40,834 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $60,763 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $101,597 |
| Total Program Service Revenue | $0 |
| Investment income | $1,294 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$59 |
| Net Income from Fundraising Events | -$13,368 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $89,464 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $500 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $758 |
| Fees for services: Other | $8,295 |
| Advertising and promotion | $4,120 |
| Office expenses | $288 |
| Information technology | $22,071 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $116 |
| 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 | $25,232 |
| Total functional expenses | $61,380 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,213 |
| Savings and temporary cash investments | $65,106 |
| 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 | $24,930 |
| 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 | $222 |
| Total assets | $187,471 |
| 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 | $187,471 |
| 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 | $187,471 |