Project Discovery Inc
- Assets
- $402.1k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 4
- Location
- Roanoke, VA
- Founding
- 08/1986
- Data as of
- 06/2020
- EIN
- 54-1369308
Organization Overview
Project Discovery Inc is located in Roanoke, VA. The organization was established in 1986. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 06/2020, Project Discovery Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project Discovery 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 06/2020, Project Discovery Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $1.4m during the year ending 06/2020. While expenses have increased by 10.1% per year over the past 6 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.
Since 2016, Project Discovery Inc has awarded 119 individual grants totaling $3,466,756. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO INCREASE ACCESS TO AND PREPARE ELEMENTARY THROUGH HIGH SCHOOL STUDENTS FOR SUCCESS IN POST-SECONDARY EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES EQUAL ACCESS TO MINORITY AND LOW INCOME STUDENTS TO HIGHER EDUCATION AND PROVIDE PARENTS WITH INFORMATION TO HELP PLAN CHILDREN'S FUTURES.
PROVIDES EQUAL ACCESS TO MINORITY AND LOW INCOME STUDENTS TO HIGHER EDUCATION AND PROVIDE PARENTS WITH INFORMATION TO HELP PLAN CHILDREN'S FUTURES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bart Edmunds Treasurer | OfficerTrustee | 2 | $0 |
Jack Lanier President | OfficerTrustee | 2 | $0 |
Mike Meredith Secretary | OfficerTrustee | 2 | $0 |
Ronald Jones Vice Preside | OfficerTrustee | 2 | $0 |
Renee Brown Board Member | Trustee | 2 | $0 |
David Foster Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,205,457 |
| Investment income | $4,338 |
| 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 | $1,230,095 |
| Statement of Expenses | |
|---|---|
| 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. | $55,981 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $141,659 |
| Pension plan accruals and contributions | $18,154 |
| Other employee benefits | $24,499 |
| Payroll taxes | $14,917 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $180 |
| Fees for services: Accounting | $12,575 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $63,135 |
| Advertising and promotion | $2,339 |
| Office expenses | $20,736 |
| Information technology | $12,230 |
| Royalties | $0 |
| Occupancy | $13,777 |
| Travel | $180,122 |
| 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 | $4,797 |
| All other expenses | $0 |
| Total functional expenses | $1,374,658 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $363,852 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $27,489 |
| Accounts receivable, net | $10,717 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $402,058 |
| Accounts payable and accrued expenses | $238,188 |
| 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 | $238,188 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $163,870 |
Grants Awarded
Over the last fiscal year, Project Discovery Inc has awarded $1,448,052 in support to 42 organizations.
| Grant Recipient | Amount |
|---|---|
Roanoke, VA | | $77,200 |
Roanoke, VA | | $77,200 |
Abingdon, VA | | $62,490 |
Abingdon, VA | | $62,490 |
Newport News, VA | | $58,500 |
Newport News, VA | | $58,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Project Discovery Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Hartford Foundation For Public Giving Hartford, CT PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Association Of Public And Land-Grant Universities Washington, DC | $44,260,531 | $22,104,494 |
Association Of Governing Boards Of Universities And Colleges Washington, DC | $19,633,060 | $15,066,269 |
Carolina University WinstonSalem, NC | $16,856,188 | $13,786,116 |
American Association Of State Colleges And Universities Washington, DC | $33,003,801 | $11,451,095 |
Institute For The Psychological Sciences Sterling, VA | $8,909,677 | $11,624,455 |
Accreditation Board For Engineering And Technology Inc Baltimore, MD | $25,462,231 | $12,376,690 |
Richmont Graduate University Chattanooga, TN | $8,373,056 | $7,234,181 |
Consortium Of Universities Of The Washington Metropolitan Area Washington, DC | $2,518,599 | $5,635,186 |
Memphis College Of Art Memphis, TN | $723,329 | $5,588,063 |
Credential Engine Inc Washington, DC | $2,829,451 | $3,267,999 |
Kentucky Mountain Bible College Incorporated Jackson, KY | $9,330,725 | $2,960,534 |
Project Discovery Inc Roanoke, VA | $402,058 | $1,230,095 |