The Folk Project
The Folk Project: Consistent Community Engagement with Stable Financials
EIN: 222249977 · Morristown, NJ · NTEE: A600 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $156K |
| Total Expenses | $156K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $213K |
| Transparency Score | 85/100 |
Is The Folk Project Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Folk Project directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Folk Project
The Folk Project (EIN: 222249977) is a nonprofit organization based in Morristown, NJ, classified under NTEE code A600. The organization reported total revenue of $156K and total assets of $228K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Folk Project's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Folk Project is a small nonprofit that has been operating for 44 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $121K |
| Total Expenses | $156K |
| Surplus / Deficit | $-35,075 |
| Total Assets | $220K |
| Total Liabilities | $8K |
| Net Assets | $213K |
| Operating Margin | -28.9% |
| Debt-to-Asset Ratio | 3.5% |
| Months of Reserves | 16.9 months |
Financial Health Grade: B
In 2023, The Folk Project reported a deficit of $35K with expenses exceeding revenue, holds 16.9 months of operating reserves (strong position), has a debt-to-asset ratio of 3.5% (very low leverage).
Financial Trends
Over 12 years of filings (2011–2023), The Folk Project's revenue has grown at a compound annual growth rate (CAGR) of 2.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +47.1% | +101.2% | -8.8% |
| 2022 | +97.8% | +83.8% | -10.1% |
| 2021 | -83.3% | -80.2% | +27.1% |
| 2019 | +70.6% | +42.7% | +12.0% |
| 2018 | -5.2% | +14.7% | -1.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1982 |
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 The Folk Project 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, The Folk Project allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% 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 deficit of $35K, with expenses exceeding revenue.
- Debt-to-asset ratio: 3.5%.
Executive Compensation Analysis
Executive compensation is not a concern as all filings consistently report $0 for all officers, directors, trustees, and key employees, indicating a volunteer-driven leadership structure.
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.
Strengths
The following positive indicators were identified for The Folk Project:
- Strong volunteer-driven model with $0 reported executive compensation across all years.
- Consistent revenue generation over multiple years, demonstrating stable community support.
- Healthy asset base relative to annual expenses, indicating financial stability.
- Clear and consistent financial reporting through publicly available Form 990s.
Frequently Asked Questions about The Folk Project
Is The Folk Project a legitimate charity?
Based on AI analysis of IRS 990 filings, The Folk Project (EIN: 222249977) appears legitimate. Mission Score: 85/100. 0 red flags identified, 4 strengths noted.
How does The Folk Project spend its money?
The Folk Project directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Folk Project tax-deductible?
The Folk Project is registered as a tax-exempt nonprofit (EIN: 222249977). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the The Folk Project CEO make?
The Folk Project's highest-compensated officer earns $0 annually. The organization reported $156K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of The Folk Project's spending goes to programs?
The Folk Project directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does The Folk Project compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), The Folk Project is above average for NTEE category A600 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Folk Project located?
The Folk Project is headquartered in Morristown, New Jersey and files with the IRS under EIN 222249977. It is classified under NTEE code A600.
How many years of IRS 990 filings does The Folk Project have?
The Folk Project has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $156K in total revenue.
What does The Folk Project do?
The Folk Project is a nonprofit organization in the Arts, Culture & Humanities sector, located in Morristown, New Jersey. It is classified under NTEE code A600.
How much revenue does The Folk Project have?
The Folk Project reported total revenue of $155,976. Based on 12 IRS 990 filings on record.
What are The Folk Project's total assets?
The Folk Project holds total assets of $228,419 as reported in IRS 990 filings.
Where is The Folk Project located?
The Folk Project is based in Morristown, New Jersey.
What is The Folk Project's EIN?
The Folk Project's Employer Identification Number (EIN) is 222249977. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is The Folk Project?
The Folk Project is classified under NTEE code A600 (Arts, Culture & Humanities).
Is The Folk Project a registered 501(c)(3)?
Yes, The Folk Project is recognized as a tax-exempt organization by the IRS. EIN: 222249977.
Does The Folk Project file IRS Form 990?
Yes, The Folk Project has 12 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was The Folk Project's revenue in 2023?
In the 202312 filing period, The Folk Project reported total revenue of $121,268, total expenses of $156,343, and net assets of $220,314.
Is The Folk Project's revenue growing or declining?
The Folk Project's revenue is growing. Revenue went from $82,413 (202212) to $121,268 (202312), a +47.1% change. Based on 12 filings on record.
What is The Folk Project's most recent 990 filing?
The most recent IRS Form 990 filing for The Folk Project covers tax period 202312. It shows revenue of $121,268, expenses of $156,343, total assets of $220,314, and liabilities of $7,777.
How much does The Folk Project spend on programs vs administration?
Based on IRS 990 analysis, The Folk Project allocates approximately 90% of expenses to program services, 5% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is The Folk Project a trustworthy charity?
Based on AI analysis of IRS 990 data, The Folk Project appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 4 strengths noted.
What are The Folk Project's strengths?
Positive indicators for The Folk Project include: Strong volunteer-driven model with $0 reported executive compensation across all years.. Consistent revenue generation over multiple years, demonstrating stable community support.. Healthy asset base relative to annual expenses, indicating financial stability.. Clear and consistent financial reporting through publicly available Form 990s.. These findings are derived from AI analysis of the organization's financial filings.
How does The Folk Project compensate executives?
Executive compensation is not a concern as all filings consistently report $0 for all officers, directors, trustees, and key employees, indicating a volunteer-driven leadership structure. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How does The Folk Project sustain its operations and achieve its mission without paid executive leadership?
The Folk Project appears to operate on a fully volunteer basis for its leadership and key positions, as evidenced by the consistent $0 reported for all officer, director, trustee, and key employee compensation in their Form 990 filings. This model relies heavily on dedicated community involvement and efficient volunteer management to deliver its programs.
What is the long-term trend of The Folk Project's financial health, considering fluctuations in revenue and expenses?
While there are year-to-year fluctuations in revenue (e.g., $250,130 in 2019 vs. $41,668 in 2021), the organization consistently maintains a healthy asset base (e.g., $228,419 in 2023) that exceeds its annual expenses. This indicates a resilient financial structure capable of weathering revenue variations and supporting its ongoing operations.
Filing History
IRS 990 filing history for The Folk Project showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), The Folk Project's revenue has grown by 33.5%, moving from $91K to $121K. Total assets increased by 89% over the same period, from $117K to $220K. Total functional expenses rose by 68.1%, from $93K to $156K. In its most recent filing year (2023), The Folk Project reported a deficit of $35K, with expenses exceeding revenue. The organization holds $8K in liabilities against $220K in assets (debt-to-asset ratio: 3.5%), resulting in net assets of $213K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $121K | $156K | $220K | $8K | — | — |
| 2022 | $82K | $78K | $242K | $7K | — | View 990 |
| 2021 | $42K | $42K | $269K | $6K | — | View 990 |
| 2019 | $250K | $213K | $211K | $2K | — | View 990 |
| 2018 | $147K | $150K | $189K | $0 | — | View 990 |
| 2017 | $155K | $130K | $192K | $0 | — | View 990 |
| 2016 | $152K | $151K | $167K | $0 | — | View 990 |
| 2015 | $158K | $139K | $166K | $0 | — | View 990 |
| 2014 | $133K | $133K | $148K | $0 | — | View 990 |
| 2013 | $120K | $121K | $146K | $309 | — | View 990 |
| 2012 | $101K | $99K | $127K | $757 | — | View 990 |
| 2011 | $91K | $93K | $117K | $1K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $121K, expenses of $156K, and assets of $220K (revenue +47.1% year-over-year).
- 2022: Revenue of $82K, expenses of $78K, and assets of $242K (revenue +97.8% year-over-year).
- 2021: Revenue of $42K, expenses of $42K, and assets of $269K (revenue -83.3% year-over-year).
- 2019: Revenue of $250K, expenses of $213K, and assets of $211K (revenue +70.6% year-over-year).
- 2018: Revenue of $147K, expenses of $150K, and assets of $189K (revenue -5.2% year-over-year).
- 2017: Revenue of $155K, expenses of $130K, and assets of $192K (revenue +1.6% year-over-year).
- 2016: Revenue of $152K, expenses of $151K, and assets of $167K (revenue -3.6% year-over-year).
- 2015: Revenue of $158K, expenses of $139K, and assets of $166K (revenue +18.8% year-over-year).
- 2014: Revenue of $133K, expenses of $133K, and assets of $148K (revenue +10.6% year-over-year).
- 2013: Revenue of $120K, expenses of $121K, and assets of $146K (revenue +19.0% year-over-year).
- 2012: Revenue of $101K, expenses of $99K, and assets of $127K (revenue +11.1% year-over-year).
- 2011: Revenue of $91K, expenses of $93K, and assets of $117K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Folk Project:
Data Sources and Methodology
This transparency report for The Folk Project 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.