Overview
What is Project 40 31 Inc?
Project 40 31 Inc is a nonprofit organization situated in Hobbs, New Mexico, known for its annual golf tournament and charity auction. Their primary mission is to raise funds for various IRS-approved nonprofit entities that support terminally ill individuals, underprivileged children, and people with special needs, as well as those battling drug abuse and homelessness. Through these events, Project 40 31 Inc distributes all net proceeds to various charities, such as Make-A-Wish, Boys and Girls Club, Palmer Drug Abuse, and Habitat for Humanity, to name a few. Notably, the organization's team, including board members and volunteers, does not receive any compensation or reimbursement for their efforts.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
Project 40 31 Inc has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. The score is based entirely on the Accountability & Finance beacon, where the organization scored 79%. This suggests that while the charity is performing well in terms of transparency and fiscal responsibility, there may be areas for improvement in other evaluation metrics not currently considered in this rating.
The organization's strengths include a fully independent board, with eight members, and a strong record in financial management, evidenced by a 0.00% liabilities to assets ratio and an impressive 99.60% program expense ratio. These figures highlight the charity's commitment to directing funds towards its programs rather than administrative costs, which is a positive indicator for potential donors regarding the effective use of their contributions.
However, the current rating does not take into account factors such as leadership, adaptability, and impact measurement, which may provide a more comprehensive view of the charity's overall performance and effectiveness. As such, while the financial metrics are encouraging, prospective donors may want to seek additional information on the organization's outcomes and community engagement for a fuller understanding of its impact.
This AI summary has been generated from information found on Charity Navigator.
Is Project 40 31 Inc legitimate?
Project 40 31 Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Project 40 31 Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Project 40 31 Inc?
Project 40 31 Inc is an organization dedicated to raising funds for various IRS-approved non-profit entities. These entities primarily support terminally ill individuals, underprivileged children, and individuals with special needs, as well as those battling drug abuse. The organization achieves this through an annual golf tournament and charity auction. All net proceeds from these events are distributed to the approved non-profits, such as Make-A-Wish, Boys and Girls Club, Palmer Drug Abuse, and Habitat for Humanity. The organization operates on a principle where board members, volunteers, and others do not receive any compensation or reimbursement.
Who is the CEO of Project 40 31 Inc?
Lee Roberson is the Board Member of Project 40 31 Inc.
What is the revenue of Project 40 31 Inc?
Project 40 31 Inc's revenue in 2023 was $614,775.
Who are the executives of Project 40 31 Inc and what are their salaries?
There 20 volunteers at Project 40 31 Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Project 40 31 Inc?
Project 40 31 Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Project 40 31 Inc
Project 40:31 Inc is a dedicated organization that raises funds for various IRS-approved non-profit entities. Its mission is centered around supporting individuals and groups in need, including the terminally ill, underprivileged children, and individuals with special needs. Additionally, the organization extends its assistance to those battling drug abuse. Project 40:31 Inc achieves its mission through an annual golf tournament and charity auction. The net proceeds from these events are distributed to selected non-profit entities, such as Make-A-Wish, Boys and Girls Club, Palmer Drug Abuse, and Habitat for Humanity. These beneficiaries use the funds to serve their respective causes, including providing aid to the terminally ill, supporting underprivileged children, addressing drug dependency, and offering shelter and resources to the homeless. Notably, Project 40:31 Inc operates on a volunteer-based model, ensuring that no board members, volunteers, or other contributors receive compensation or reimbursement for their time and efforts.
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Impact
July, 2024
Project 40 31 Inc's impact is significant in supporting various IRS-approved nonprofit organizations that serve the terminally ill, underprivileged children, individuals with special needs or drug abuse issues, and other underserved populations. Through their annual golf tournament and charity auction, the organization raises funds that are distributed to reputable nonprofits such as Make-A-Wish, Boys and Girls Club, Palmer Drug Abuse, and Habitat for Humanity, among others. By providing financial support to these organizations, Project 40 31 Inc is directly contributing to improving the lives of those in need and making a positive difference in the community.
This information is meant to be a general summary of Project 40 31 Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Gross Receipts: $614,775
Assets and Liabilities:
- Total Assets: $91,218
- Total Liabilities: $0
- Net Assets: $91,218
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Organization Details
Founding Year
2010
Phone
(575) 631-8270Principal Officer
Lee Roberson
Main Address
122 W TAYLOR ST, HOBBS, NM, 88240
NTEE Category
Code: T00 - Philanthropy
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