Project 48 Inc
- Assets
- $115.3k
- Revenue
- $569.2k
- Investments
- $0.0
- Employees
- 6
- Location
- Portland, OR
- Founding
- 11/2019
- Data as of
- 12/2023
- EIN
- 83-4515483
Organization Overview
Project 48 Inc is located in Portland, OR. The organization was established in 2019. According to its NTEE Classification (P32) the organization is classified as: Foster Care, under the broad grouping of Human Services and related organizations. As of 12/2023, Project 48 Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project 48 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 48 Inc generated $569.2k in total revenue. All expenses for the organization totaled $540.2k during the year ending 12/2023. While expenses have increased by 121.3% 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ESSENTIALS BAG INCLUDES HIGH QUALITY NEW ITEMS THAT WILL BE DELIVERED WITHIN 48 HOURS OF A YOUTH'S PLACEMENT. EACH BAG INCLUDES BUT NOT LIMITED TO BACKPACK, SOCKS, T-SHIRTS, PANTS, UNDERWEAR, JOGGERS, HYGIENE PRODUCTS, AGE AND GENDER APPROPRIATE ITEMS ETC.
Describe the Organization's Program Activity:
Part 3
A TOTAL OF 969 BAGS OF NEW CLOTHING AND TOILETRIES WERE DELIVERED TO TRANSITIONING FOSTER YOUTH IN 2020.
THE ESSENTIAL BAG PROGRAM PROVIDE ESSENTIALS BAG INCLUDES HIGH QUALITY NEW ITEMS THAT WILL BE DELIVERED WITHIN 48 HOURS OF A YOUTH'S PLACEMENT. EACH BAG IS CUSTOM ORDERED TO ENSURE ALL ITEMS FIT PERFECT AND THAT THEY ARE INCLUSIVE TO EACH YOUTH. EACH BAG INCLUDES 1 PAIR OF SHOES, 1 BACKPACK OR DUFFLE BAG, 3 T-SHIRTS, 3 BOTTOMS, 1 HOODED SWEATSHIRT, 10 PAIRS OF SOCKS, 6 PAIRS OF UNDERWEAR, 1 BRA AND 1 HYGIENE KIT. TO BE ELIGIBLE FOR AN ESSENTIALS BAG, THE YOUTH MUST HAVE AN OPEN DHS CASE AND AGE BETWEEN 7 - 21 AND LIVE IN MULTNOMAH, WASHINGTON OR CLACKAMAS COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tonya Daniels CFO | 21 | $0 | |
Brandy Memory CEO | 21 | $0 | |
Carly Salazar Secretary | 10 | $0 | |
Brandy Memory CEO | Trustee | 40 | $50,096 |
Ashley Countryman Director Of Operations | Trustee | 40 | $39,708 |
Courtney Buckley Director Of Programs | Trustee | 40 | $30,260 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $58,668 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $504,637 |
| Noncash contributions included in lines 1a–1f | $142,262 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $563,305 |
| 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 | $5,845 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $569,150 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $168,995 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $137,525 |
| Compensation of current officers, directors, key employees. | $137,525 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,720 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,864 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,000 |
| Fees for services: Accounting | $9,148 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,485 |
| Advertising and promotion | $9,751 |
| Office expenses | $16,314 |
| Information technology | $19,213 |
| Royalties | $0 |
| Occupancy | $29,110 |
| Travel | $6,062 |
| 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 | $8,563 |
| All other expenses | $0 |
| Total functional expenses | $540,230 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,958 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $70,802 |
| 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 | $12,570 |
| Prepaid expenses and deferred charges | $3,014 |
| 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 | $115,344 |
| Accounts payable and accrued expenses | $218 |
| 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 | $20,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $20,218 |
| Net assets without donor restrictions | $95,126 |
| 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 | $115,344 |