Formation Project
- Assets
- $27.7k
- Revenue
- $399.4k
- Investments
- $0.0
- Employees
- 8
- Location
- Charleston, SC
- Founding
- Data as of
- 12/2021
- EIN
- 84-4695937
Organization Overview
Formation Project is located in Charleston, SC. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 12/2021, Formation Project employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Formation Project 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 12/2021, Formation Project generated $399.4k in total revenue. All expenses for the organization totaled $451.3k during the year ending 12/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO REACH, RESTORE & EQUIP SURVIVORS & ALLIES IN THE FIGHT AGAINST HUMAN TRAFFICKING AND COMMERCIAL EXPLOITATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE HAD 50 REFERRALS IN 2021 AND PROVIDED SERVICES FOR 38 PARTICIPANTS INCLUDING CASE MANAGEMENT, HOUSING AND BASIC NEEDS, AND COMMUNITY/PEER SUPPORT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathryn Wehunt Executive Di | Officer | 40 | $54,969 |
Brooke Burris Chair | Trustee | 15 | $0 |
Steve Cavett Board Member | Trustee | 0.2 | $0 |
Michele Forsythe Secretary | Trustee | 0.15 | $0 |
Darby Parker Treasurer | Trustee | 0.25 | $0 |
Carl Hansson Board Member | Trustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $202,737 |
| All other contributions, gifts, grants, and similar amounts not included above | $196,704 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $399,441 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $399,441 |
| 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. | $54,970 |
| Compensation of current officers, directors, key employees. | $9,059 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $121,312 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,361 |
| Payroll taxes | $11,710 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $50 |
| Fees for services: Accounting | $3,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,056 |
| Advertising and promotion | $2,414 |
| Office expenses | $5,475 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,703 |
| Travel | $6,015 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $992 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,069 |
| All other expenses | $8,055 |
| Total functional expenses | $451,343 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,101 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,502 |
| 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 | $8,077 |
| 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 | $27,680 |
| Accounts payable and accrued expenses | $701 |
| 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 | $61,776 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $62,477 |
| Net assets without donor restrictions | -$34,797 |
| 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 | $27,680 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Formation Project has recieved totaling $113,286.
| Awarding Organization | Amount |
|---|---|
Lincoln Tubman Foundation Raleigh, NC PURPOSE: PROVIDE VARIOUS SERVICES TO SURVIVOR | $104,526 |
Coastal Community Foundation Of South Carolina Inc N Charleston, SC PURPOSE: HUMAN NEEDS GRANT | $8,760 |
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