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Nonprofiteer
← PROJECT DESTINED INC

Form 990 for tax year 2022

Filed by PROJECT DESTINED INC.

Totals

Total revenue
$3,330,232
Total expenses
$3,883,667
Contributions and grants received
$3,317,913
Grants paid
$3,565,648
Program service revenue
$12,319
Investment income
$0
Other revenue
$0
Total assets, end of year
$235,225
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$235,225
Program services expenses (Part IX)
$3,849,494
Management and general expenses
$21,642
Fundraising expenses
$12,531
Program service expenses (Part III)
$3,849,494

Program services were 99.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $3,317,913

  • 2a · Program service revenue: OTHER PROGRAM REVENUE

    total $12,319 · related or exempt $12,319

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $3,565,648 · program services $3,565,648

  • 11c · Fees: accounting

    total $6,981 · program services $6,981

  • 11g · Fees: other

    total $53,750 · program services $53,750

  • 12 · Advertising and promotion

    total $12,531 · fundraising $12,531

  • 14 · Information technology

    total $113,513 · program services $113,513

  • 17 · Travel

    total $120,362 · program services $102,308 · management and general $18,054

  • 24a · Other expenses: OTHER

    total $5,361 · program services $5,361

  • 24b · Other expenses: MEALS

    total $3,866 · program services $1,933 · management and general $1,933

  • 24c · Other expenses: BANK FEES

    total $1,655 · management and general $1,655

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $799,347 · end of year $235,225

  • 22 · Loans and payables to officers and key people

    beginning of year $10,687 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $788,660 · end of year $235,225

Mission and programs · 2022

Mission

TRAIN SCHOLARS IN LEADERSHIP AND ENTREPRENEURSHIP THROUGH EVALUATION OF "LIVE" REAL ESTATE INVESTMENTS IN THEIR LOCAL COMMUNITY. CREATE AND CULTIVATE NETWORKING OPPORTUNITIES WHERE SCHOLARS ENGAGE DIRECTLY WITH LOCAL COMPANIES AND EXECUTIVES. TURN PARTICIPANTS INTO STAKEHOLDERS IN REAL ESTATE, WHEREBY THEY RECEIVE FINANCIAL SCHOLARSHIPS AND/OR AWARDS.

Activities or mission (Part I)

PROJECT DESTINED IS 501(C)3 NOT-FOR-PROFIT CORPORATION THAT ADMINISTERS A REAL ESTATE BASEDAPPLIED YOUTH EDUCATION PROGRAM DESIGNED TO PROMOTE FINANCIAL LITERACY, LEADERSHIP DEVELOPMENT AND ACCESS TO MENTORSHIP OPPORTUNITIES YIELDING INCREASED COMPETITIVENESS FOR URBAN YOUTH. ACROSS MULTIPLE MODULES, PROJECT DESTINED SCHOLARS GAIN EXPOSURE TO ALL ASPECTS OF THE REAL ESTATE INVESTMENT LIFE CYCLE WHILE GAINING EXPOSURE TO REAL INDUSTRY PROFESSIONALS, ANALYZING REAL ESTATE OPPORTUNITIES AND HELPING TO INVEST REAL CAPITAL INTO REAL ESTATE WITHIN THEIR OWN COMMUNITIES.

  • ADMINISTRATION OF A REAL ESTATE BASED APPLIED EDUCATION PROGRAM DESIGNED TO PROMOTE FINANCIAL LITERACY, LEADERSHIP DEVELOPMENT AND ACCESS TO MENTORSHIP OPPORTUNITIES YIELDING INCREASED COMPETITIVENESS OF URBAN YOUTH.

    Expenses $3,849,494 · Grants $3,565,648 · Revenue $12,319

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • CEDRIC BOBO

    FOUNDER

    Total calculated
    $0
    Hours/week
    10

  • ANGELA JOHNSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • TJ EDWARDS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202303199349325765

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