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Nonprofiteer
← PROJECT PURPLE INC

Form 990 for tax year 2023

Filed by PROJECT PURPLE INC.

Totals

Total revenue
$2,556,444
Total expenses
$2,108,354
Contributions and grants received
$2,489,274
Grants paid
$700,866
Program service revenue
$34,911
Investment income
$27,440
Other revenue
$4,819
Total assets, end of year
$1,944,886
Total liabilities, end of year
$88,641
Net assets or fund balances, end of year
$1,856,245
Program services expenses (Part IX)
$1,846,141
Management and general expenses
$158,646
Fundraising expenses
$103,567
Program service expenses (Part III)
$1,846,141

Program services were 87.6% 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.

  • 1c · Fundraising events

    $56,981

  • 1f · All other contributions, gifts and grants

    $2,432,293

  • 1g · Noncash contributions included above

    $5,195

  • 2a · Program service revenue: EVENT REGISTRATION FEES

    total $34,911 · related or exempt $34,911

  • 3 · Investment income

    total $32,515 · excluded $32,515

  • 7b · Less cost or other basis and sales expenses

    other assets $5,075

  • 7c · Gain or loss

    other assets -$5,075

  • 7d · Net gain or loss

    total -$5,075 · related or exempt -$5,075

  • 8a · Fundraising events: gross income

    $50,650

  • 8a · Fundraising events: contributions included on line 1c

    $56,981

  • 8b · Fundraising events: direct expenses

    $54,927

  • 8c · Net income from fundraising events

    total -$4,277 · excluded -$4,277

  • 9a · Gaming: gross income

    $5,695

  • 9b · Gaming: direct expenses

    $797

  • 9c · Net income from gaming

    total $4,898 · excluded $4,898

  • 10a · Gross sales of inventory

    $8,397

  • 10b · Cost of goods sold

    $4,199

  • 10c · Net income from sales of inventory

    total $4,198 · excluded $4,198

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $456,950 · program services $456,950

  • 2 · Grants to domestic individuals

    total $243,916 · program services $243,916

  • 5 · Compensation of officers, directors and key employees

    total $202,323 · program services $151,742 · management and general $40,465 · fundraising $10,116

  • 7 · Other salaries and wages

    total $338,101 · program services $268,016 · management and general $48,749 · fundraising $21,336

  • 9 · Other employee benefits

    total $45,604 · program services $35,175 · management and general $7,108 · fundraising $3,321

  • 10 · Payroll taxes

    total $40,646 · program services $31,796 · management and general $6,545 · fundraising $2,305

  • 11c · Fees: accounting

    total $21,456 · management and general $21,456

  • 11g · Fees: other

    total $30,263 · program services $28,263 · management and general $2,000

  • 12 · Advertising and promotion

    total $133,005 · program services $133,005

  • 13 · Office expenses

    total $109,673 · program services $55,406 · management and general $9,759 · fundraising $44,508

  • 14 · Information technology

    total $47,147 · program services $37,552 · management and general $7,001 · fundraising $2,594

  • 16 · Occupancy

    total $28,169 · program services $22,436 · management and general $4,183 · fundraising $1,550

  • 17 · Travel

    total $112,626 · program services $89,944 · management and general $5,344 · fundraising $17,338

  • 19 · Conferences, conventions and meetings

    total $11,591 · program services $10,885 · management and general $706

  • 22 · Depreciation, depletion and amortization

    total $9,065 · program services $7,220 · management and general $1,346 · fundraising $499

  • 23 · Insurance

    total $4,377 · program services $2,923 · management and general $1,454

  • 24a · Other expenses: RACE REG. AND SUPPLIES

    total $134,078 · program services $134,078

  • 24b · Other expenses: APPAREL

    total $61,525 · program services $61,525

  • 24c · Other expenses: PRE/POST MARATHON EVENTS

    total $38,512 · program services $38,512

  • 24d · Other expenses: RUNNER INCENTIVES

    total $20,828 · program services $20,828

  • 24e · All other expenses

    total $18,499 · program services $15,969 · management and general $2,530

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $971,816 · end of year $335,076

  • 2 · Savings and temporary cash investments

    beginning of year $350,004 · end of year $704,000

  • 3 · Pledges and grants receivable

    beginning of year $45,788 · end of year $16,523

  • 4 · Accounts receivable

    beginning of year $32,422 · end of year $27,544

  • 8 · Inventories for sale or use

    beginning of year $21,169 · end of year $23,789

  • 9 · Prepaid expenses and deferred charges

    beginning of year $42,929 · end of year $28,493

  • 10a · Land, buildings and equipment: cost or other basis

    $37,153

  • 10b · Land, buildings and equipment: accumulated depreciation

    $33,030

  • 10c · Land, buildings and equipment, net

    beginning of year $5,238 · end of year $4,123

  • 11 · Investments: publicly traded securities

    end of year $779,648

  • 14 · Intangible assets

    beginning of year $15,914 · end of year $21,690

  • 15 · Other assets

    beginning of year $10,532 · end of year $4,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $80,645 · end of year $88,641

  • 25 · Other liabilities

    beginning of year $7,012

  • 27 · Net assets without donor restrictions

    beginning of year $1,306,618 · end of year $1,328,210

  • 28 · Net assets with donor restrictions

    beginning of year $101,537 · end of year $528,035

Mission and programs · 2023

Mission

THE MISSION OF PROJECT PURPLE IS TO RAISE AWARENESS AND FUNDS TOWARD A CURE OF PANCREATIC CANCER. IN ADDITION, PROJECT PURPLE MOTIVATES PEOPLE TO RUN IN WORLD RENOWNED MARATHONS AND HALF MARATHONS TO RAISE MISSION CRITICAL FUNDS.

  • PROGRAM AND MARATHON ACTIVITIES OUR PRIMARY FUNDRAISING COMES FROM PARTICIPATING IN MARATHONS, HALF MARATHONS, AND 5K RACES ACROSS THE COUNTRY; INCLUDING THE TOP FOUR U.S. MARATHONS. OUR TEAM CONSISTS OF RUNNERS FROM ALL OVER THE WORLD, MOST OF THEM HAVE BEEN TOUCHED BY PANCREATIC CANCER.

    Expenses $1,127,074 · Grants $5,950 · Revenue $34,911

  • RESEARCH, SCHOLARSHIPS AND PATIENT AID PROJECT PURPLE HAS BECOME A LEADING PROVIDER OF FINANCIAL AID TO FAMILIES BATTLING PANCREATIC CANCER. WE OFFER GRANTS TO FAMILIES THAT ARE BATTLING THIS DISEASE FROM ALL OVER THE UNITED STATES. WE OFFER FINANCIAL ASSISTANCE WITH HOUSING, UTILITIES, MEDICAL, AND WE ALSO HAVE A MISCELLANEOUS CATEGORY THAT HAS BEEN USED TO COVER THINGS LIKE GAS, ALTERNATIVE LODGING, AND ANYTHING NOT COVERED IN THE OTHER CATEGORIES. PATIENTS ARE ELIGIBLE TO APPLY ONCE EVERY 12 MONTHS AND OUR TYPICAL CYCLE LASTS ANYWHERE FROM 3-4 WEEKS, DEPENDING ON THE APPLICATION, IF ALL THE REQUIREMENTS ARE IN GOOD ORDER. WE REQUIRE PATIENTS TO SUBMIT PROOF OF DIAGNOSIS AND CURRENT PROTOCOL, PHOTO ID, PREVIOUS YEAR'S TAX FILING, AS WELL AS ANY BILLS THAT THEY ARE LOOKING FOR ASSISTANCE WITH. PROJECT PURPLE IS COMMITTED TO FUNDING CRITICAL RESEARCH TOWARDS A CURE AND EARLY DETECTION OF PANCREATIC CANCER. PROJECT PURPLE HAS FUNDED OVER 3,000,000 SINCE INCEPTION FOR CLINICAL AND SCIENTIFIC RESEARCH TOWARDS ITS MISSION WITH SOME OF THE TOP SCIENTISTS AND DOCTORS IN THE UNITED STATES WORKING TOWARDS THAT GOAL. OUR RESEARCH APPROACH IS TO ASSIST IN FUNDING OF THIS CRITICAL RESEARCH WITH SOME OF THE TOP SCIENTISTS AND DOCTORS IN THE UNITED STATES. THE SCOPE OF THE MANY PROJECTS HAS RANGED FROM IMMUNOLOGY, EARLY DETECTION, BASIC SCIENCE, CLINICAL TRIALS AND MUCH MORE.

    Expenses $719,067 · Grants $694,916

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Bryan Lively

    PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • Brent Sheehan

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    3

  • Alex Palios

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Kathleen Balducci

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Tony Luongo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bret Schipper

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jay Buth

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Beckage

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brian Zellner - Outgoing

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sandino Verrelli

    FOUNDER AND

    Total calculated
    $188,196
    From this org
    $185,855
    From related orgs
    $0
    Other
    $2,341
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,766
    Bonus
    $41,775
    Other
    $5,314
    Deferred
    not reported
    Nontaxable benefits
    $2,341
    Filer's total
    $188,196

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 7
BONUSES ARE PROVIDED BASED ON A PERFORMANCE REVIEW CONDUCTED BY THE BOARD OF DIRECTORS

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.0
Source object
202413139349301766

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