Project Kompass Incorporated
- Assets
- $712.4k
- Revenue
- $356.4k
- Investments
- $0.0
- Employees
- 3
- Location
- North Chelmsford, MA
- Founding
- Data as of
- 06/2022
- 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 06/2022, Project Kompass Incorporated employed 3 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 06/2022, Project Kompass Incorporated generated $356.4k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 47.7% each year . All expenses for the organization totaled $380.2k during the year ending 06/2022. While expenses have increased by 43.5% per year over the past 2 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
2022
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, 2022, PROJECT KOMPASS (PK) ACCOMPLISHED THE FOLLOWING:- COMPLETED RENOVATIONS AND UPGRADES AT THE NESMITH STREET (LOWELL) HOME AND SUCCESSFULLY HOUSED 12 RESIDENTS DURING THE YEAR. - NORTH CHELMSFORD HOME OPERATED AT FULL CAPACITY (UP TO 10 RESIDENTS) THROUGHOUT MOST OF FY 2022.- PARTNERED WITH HEALTHY FAMILIES, JRI, AND OTHER COMMUNITY AGENCIES TO OFFER SUPPORT SERVICES TO THE MOMS AND BABIES WITHIN THE PK PROGRAM.- CREATE A LIFE SKILL TRAINING PROGRAM TO BE ROLLED OUT IN FY2023.- 80% OF OUR RESIDENTS COMPLETED LOCAL COMMUNITY SERVICE ACTIVITIES (IE, CLEAN-UP OF LOCAL COMMUNITY WITH THE LOWELL LITTER KREWE) AND DELIVERED WINTER ITEMS TO COMMUNITY HOMELESS ENCAMPMENTS.- SIGNIFICANTLY INCREASED TRANSPORTATION ASSISTANCE FOR RESIDENTS.- PARTNERED WITH MERRIMACK VALLEY FOOD BANK, TO ENSURE ALL RESIDENTS HAD FULL ACCESS TO HEALTHY FOOD ITEMS, THE DIAPER BANK, TO PROVIDE NECESSARY SUPPLIES TO MOMS AND BABIES, AND UNCOMMON THREADS, TO ASSIST WITH CLOTHING AND NECESSARY ACCESSORIES.- ALL RESIDENTS COMPLETED A 12 WEEK FINANCIAL LITERACY PROGRAM WITH BUDGET BUDDIES ALLOWING ALL RESIDENTS THE BASIC UNDERSTANDING OF MONEY AND SAVINGS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronnie Hoey President/executive Direct | OfficerTrustee | 40 | $80,529 |
David Aldrich Chairman/director | Trustee | 20 | $0 |
Laura Gasparini Director | Trustee | 8 | $0 |
Dave Mclachlan Director | Trustee | 8 | $0 |
Shannon Anderson Director | Trustee | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $13,025 |
| All other contributions, gifts, grants, and similar amounts not included above | $332,090 |
| Noncash contributions included in lines 1a–1f | $41,638 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $345,115 |
| Total Program Service Revenue | $11,303 |
| 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 | $356,418 |
| 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. | $80,529 |
| Compensation of current officers, directors, key employees. | $24,159 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $95,903 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,179 |
| Payroll taxes | $14,640 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $450 |
| Fees for services: Accounting | $2,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,248 |
| Advertising and promotion | $282 |
| Office expenses | $1,390 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $45,700 |
| Travel | $3,055 |
| 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 | $14,585 |
| Insurance | $10,668 |
| All other expenses | $17,824 |
| Total functional expenses | $380,244 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,319 |
| Savings and temporary cash investments | $3,422 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $2,500 |
| Net Land, buildings, and equipment | $676,148 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $712,389 |
| Accounts payable and accrued expenses | $7,215 |
| 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 | $7,215 |
| Net assets without donor restrictions | $704,023 |
| Net assets with donor restrictions | $1,151 |
| 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 | $712,389 |
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|---|---|---|
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Providence Ministries For The Needy Inc Holyoke, MA | $996,921 | $1,849,889 |
Bowdoin Manor Housing Inc Boston, MA | $8,217,374 | $1,802,793 |