Project Kompass Incorporated
- Assets
- $688.2k
- Revenue
- $358.7k
- Investments
- $0.0
- Employees
- 4
- Location
- North Chelmsford, MA
- Founding
- Data as of
- 06/2023
- EIN
- 84-4402345
Organization Overview
Project Kompass Incorporated is located in North Chelmsford, MA. According to its NTEE Classification (L40) the organization is classified as: Temporary Housing, under the broad grouping of Housing & Shelter and related organizations. As of 06/2023, Project Kompass Incorporated employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project Kompass Incorporated 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 Kompass Incorporated generated $358.7k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 30.0% each year . All expenses for the organization totaled $382.2k during the year ending 06/2023. While expenses have increased by 27.4% per year over the past 3 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE DESPERATELY NEEDED TRANSITIONAL HOUSING AND RELATED SERVICES FOR HOMELESS TEENS AND YOUNG ADULTS IN THE MERRIMACK VALLEY AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR ENDED JUNE 30, 2023, PROJECT KOMPASS (PK) ACCOMPLISHED THE FOLLOWING:RESIDENTS:PK HAS ASSISTED 74 RESIDENTS, INCLUDING 9 INFANTS, WITHIN BOTH OF PK'S HOMES. PK HAS ALSO ACTIVELY SUPPORTED SEVERAL LOCAL FAMILIES WITH FOOD, CLOTHING, AND BABY ESSENTIALS. PK ASSISTED TWO YOUNG MEN WITH SHORT-TERM ASSISTANCE, INCLUDING HOTEL ACCOMMODATIONS. PK CONTINUES TO SUPPORT MANY OF THEIR GRADUATE RESIDENTS WITH BABY ESSENTIALS, FOOD IF NEEDED, AND HOUSING ITEMS DURING TIMES OF SHORTAGE AND NEED.PK EXTENDED ITS PROGRAM TO INCLUDE EQUINE THERAPY FOR THOSE INTERESTED. PK HAS IMPLEMENTED A SAVINGS PROGRAM WHERE RESIDENTS ARE FOCUSED ON PAYING OFF THEIR DEBT AND SAVING TOWARDS THEIR FUTURE HOUSING COSTS.IN THE PAST YEAR, SEVERAL YOUNG WOMEN RESIDENTS HAVE MOVED TO ATTEND SCHOOL/TECHNICAL TRAINING. THEY ARE SUCCESSFULLY FULFILLING THE EDUCATION AND TRAINING THEY HAD HOPED FOR. ONE RESIDENT MOVED TO CHICAGO AND IS ATTENDING NURSING SCHOOL. ONE RESIDENT MOVED TO SEATTLE AND IS ATTENDING ENVIRONMENTAL TRAINING AND FIRE FIGHTING. ONE RESIDENT GRADUATED AS AN LPN AND ANOTHER AS A MEDICAL ASSISTANT. COMMUNITY SERVICE/OUTREACH:PK RESIDENTS PACKAGED AND DELIVERED 75 BAGS TO INCLUDE NECESSARY PERSONAL HYGIENE PRODUCTS, WARM SOCKS, BLANKETS, SNACKS, AND WATER TO LOCAL HOMELESS ENCAMPMENTS. THE YOUNG WOMEN TOOK IT UPON THEMSELVES TO INITIATE THIS DRIVE.PK CATERED LUNCH TO 200 LOWELL YOUTH LEADERSHIP PROGRAM CAMPERS.COLLABORATIONS/PARTNERSHIPS:PK WELCOMED 100+ YOUTH TO JOIN PK AND HIDDEN POND DERRY FARMS & STABLES FOR HANDS-ON EDUCATION AND TRAINING TO INCLUDE: FEEDING AND GROOMING HORSES, ALPACAS, PIGS AND CHICKENS; MUCKING STALLS AND PADDOCKS, AND LEARNING BASIC FARM SKILLS.PK COLLABORED WITH THE GREATER LOWELL PERSONAL DEVELOPMENT CENTER, TO OFFER QUICKER ACCESS TO LOCAL THERAPY AND COUNSELING TO ALL RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronnie Hoey President/treasurer/executive Direct | OfficerTrustee | 40 | $97,115 |
David Aldrich Chairman/director | Trustee | 20 | $0 |
Laura Gasparini Director | Trustee | 8 | $0 |
Shannon Forsythe Director | Trustee | 8 | $0 |
Dave Mclachlan Director | Trustee | 8 | $0 |
Zoe Dzineku Director | Trustee | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $25,242 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $340,509 |
| Noncash contributions included in lines 1a–1f | $21,744 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $365,751 |
| 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 | -$7,019 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $358,732 |
| 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 | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $97,115 |
| Compensation of current officers, directors, key employees. | $19,423 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $88,093 |
| Pension plan accruals and contributions | $9,423 |
| Other employee benefits | $19,639 |
| Payroll taxes | $16,540 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,171 |
| Advertising and promotion | $394 |
| Office expenses | $792 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,429 |
| Travel | $3,658 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $98 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,603 |
| Insurance | $12,705 |
| All other expenses | $20,709 |
| Total functional expenses | $382,152 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,040 |
| Savings and temporary cash investments | $3,273 |
| Pledges and grants receivable | $1,000 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $666,928 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $688,241 |
| Accounts payable and accrued expenses | $6,487 |
| 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 | $6,487 |
| Net assets without donor restrictions | $671,227 |
| Net assets with donor restrictions | $10,527 |
| 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 | $688,241 |