Project Ricochet Inc
Project Ricochet Inc experiences rapid revenue growth and maintains zero liabilities.
EIN: 10949080 · Lexington, KY · NTEE: O50 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $645K |
| Total Expenses | $571K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $685,188. |
| Net Assets | $132K |
| Transparency Score | 85/100 |
Is Project Ricochet Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Project Ricochet Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Project Ricochet Inc
Project Ricochet Inc (EIN: 10949080) is a nonprofit organization based in Lexington, KY, classified under NTEE code O50. The organization reported total revenue of $645K and total assets of $395K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Project Ricochet Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Project Ricochet Inc is a small nonprofit that has been operating for 4 years, with 2 years of IRS 990 filings on record (2022–2023). Revenue has grown at a compound annual rate of 948.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $685K |
| Total Expenses | $571K |
| Surplus / Deficit | +$114K |
| Total Assets | $132K |
| Net Assets | $132K |
| Operating Margin | 16.6% |
| Months of Reserves | 2.8 months |
Financial Health Grade: A
In 2023, Project Ricochet Inc reported a surplus of $114K with revenue exceeding expenses, holds 2.8 months of operating reserves (limited).
Financial Trends
Over 2 years of filings (2022–2023), Project Ricochet Inc's revenue has grown at a compound annual growth rate (CAGR) of 948.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +948.8% | +711.2% | +624.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2022 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Project Ricochet Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Project Ricochet Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $114K, with revenue exceeding expenses.
Executive Compensation Analysis
No officer compensation was reported in either 2022 or 2023 filings, suggesting that executive leadership may be volunteer-based or compensated through non-officer roles, which can contribute to lower overhead for an organization of its size with revenue reaching $685,188.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Project Ricochet Inc's IRS 990 filings:
- NTEE Code O50 (Unknown) limits clear mission understanding and benchmarking.
Strengths
The following positive indicators were identified for Project Ricochet Inc:
- Significant revenue growth from $65,331 in 2022 to $685,188 in 2023.
- Consistent reporting of zero liabilities in both filing periods.
- No officer compensation reported, potentially indicating low administrative overhead.
- Positive net income in 2023 ($685,188 revenue vs. $571,313 expenses) allowing for asset accumulation.
- Assets grew substantially from $18,225 in 2022 to $132,100 in 2023.
Frequently Asked Questions about Project Ricochet Inc
Is Project Ricochet Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Project Ricochet Inc (EIN: 10949080) some concerns. Mission Score: 85/100. 1 red flag identified, 5 strengths noted.
How does Project Ricochet Inc spend its money?
Project Ricochet Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Project Ricochet Inc tax-deductible?
Project Ricochet Inc is registered as a tax-exempt nonprofit (EIN: 10949080). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Project Ricochet Inc CEO make?
Project Ricochet Inc's highest-compensated officer earns $685,188. annually. The organization reported $645K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Project Ricochet Inc's spending goes to programs?
Project Ricochet Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Project Ricochet Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Project Ricochet Inc is above average for NTEE category O50 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Project Ricochet Inc located?
Project Ricochet Inc is headquartered in Lexington, Kentucky and files with the IRS under EIN 10949080. It is classified under NTEE code O50.
How many years of IRS 990 filings does Project Ricochet Inc have?
Project Ricochet Inc has 2 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $645K in total revenue.
Is Project Ricochet Inc a good charity?
Based on the available financial data, Project Ricochet Inc appears to be a well-managed and growing charity. It demonstrates strong financial health with significant revenue growth from $65,331 in 2022 to $685,188 in 2023, consistent zero liabilities, and no reported officer compensation, which are all positive indicators.
What caused the large increase in revenue from 2022 to 2023?
The provided data does not specify the exact reasons for the revenue increase from $65,331 in 2022 to $685,188 in 2023, but such a substantial jump often indicates successful fundraising campaigns, new grants, or significant program expansion.
What is the NTEE Code O50 and what does it mean for transparency?
NTEE Code O50 typically signifies 'Unknown, Unclassified, or Not Applicable.' This lack of specific classification can make it harder for donors to understand the organization's exact mission and compare its financial performance against similar charities, potentially impacting transparency.
Filing History
IRS 990 filing history for Project Ricochet Inc showing financial trends over 2 years of public records:
Over 2 years of IRS 990 filings (2022–2023), Project Ricochet Inc's revenue has grown by 948.8%, moving from $65K to $685K. Total assets increased by 624.8% over the same period, from $18K to $132K. Total functional expenses rose by 711.2%, from $70K to $571K. In its most recent filing year (2023), Project Ricochet Inc reported a surplus of $114K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $685K | $571K | $132K | $0 | — | View 990 |
| 2022 | $65K | $70K | $18K | $0 | — | View 990 |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Project Ricochet Inc:
Data Sources and Methodology
This transparency report for Project Ricochet Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.