Greenlight Fund INC FY2020 filing

Tax-deductible

Boston, MA501(c)(3)Since 2003Community DevelopmentEIN 20-0407083Revenue $9.9M in FY2020

On file with the IRSgreenlightfund.org50 Milk Street 16th Floor, 02109-5002 · Boston, MATax-exempt since Sep 2004Publicly supported charity — 170(b)(1)(A)(vi)

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The Greenlight Fund transforms the lives of children and families in high-poverty urban areas by creating infrastructure and a consistent annual process in cities to identify critical needs, import innovative entrepreneurial programs that can have a significant and measurable impact, and galvanize local and national support to help programs reach and sustain impact in the new city.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$967K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $7.1M a year · 41% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$967K
to officers and key staff · 15% of spending
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
32 mo
of spending, in cash
Looks good: 32.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $101K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$141K
0.6% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 11 voting members
Looks good: 10 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$9.9M
Spent
$6.5M
To programs
80%
Net assets
$23.7M
By yearFY2020–FY2024
Revenue
$9.9M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$9.9M
FY2021$25.8M
FY2022$21.5M
FY2023$14.9M
FY2024$15.3M
Expenses
$6.5M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$6.5M
FY2021$7.7M
FY2022$9.8M
FY2023$12.5M
FY2024$15.2M
Net assets
$23.7M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$23.7M
FY2021$41.7M
FY2022$52.3M
FY2023$55.6M
FY2024$56.5M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2004.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $5.2M Management & general 16% · $1.0M Fundraising 5% · $293K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

17 people listed on the 990; $967K paid to officers and key staff.

Part VII, Section A · reportable compensation
Clerk, CEO
$186,876Pt VII · Sec A
National Portfolio Directo
$170,651Pt VII · Sec A
Managing Director, Strateg
$166,445Pt VII · Sec A
National Director of Strategic Development
$158,945Pt VII · Sec A
Executive Director Bay Area
$143,770Pt VII · Sec A
Executive Director Boston
$139,823Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Casey Johnson’s $200K as VP, National Portfolio & Learning is at the 32nd percentile of top reported officer pay among 572 $10–100M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Margaret Hall$176,554$217,171$195,267$168,962$186,876
Casey Johnson$199,931$193,155$183,577$162,688$170,651
Katherine Schwass$186,542$176,583$191,831$149,088$143,770
Melissa Luna$190,977$181,083$168,435$140,642$139,823
Ali Knight$187,666————
Ryann Denham Deveney$184,458————
Robert Mays$171,488$165,837$165,928——
Madhumita Chakrabartti$171,486$150,946———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Greenlight Fund INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Imports and scales proven, innovative nonprofit programs to high-poverty urban areas to address critical local needs for children and families.

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Provided by the organization

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1 program · $5.2M · in their own filed words · FY2020
01

To meet its mission in the nine cities where it operates, the greenlight fund does the following:- runs an annual process to identify critical community needs; searches the country to find innovative, results-oriented nonprofit approaches to meeting needs; conducts rigorous diligence on these nonprofits to understand their outcomes…

$5.2Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 4 funders$101K
See all 4 funders →
Grants paid · 121 grants · $17.1M · 2020–2024
Food Connect CoPA · FY2024$685,000
Wellbeing Action for Youth INCMA · FY2024$380,000
The Fountain FundVA · FY2024$300,000
Youth GuidanceIL · FY2024$251,296
Genesys WorksTX · FY2024$250,000
Cure Violence GlobalIL · FY2024$250,000
The Literacy LabDC · FY2024$207,250
Public Works AllianceCA · FY2024$200,500
Parent-Child Home Program INCNY · FY2024$200,000
Narrative Nation INCNY · FY2024$175,000
MreliefIL · FY2024$175,000
Hopeworks N Camden INCNJ · FY2024$160,000
The Capital Good FundRI · FY2024$150,000
Pillsbury United CommunitiesMN · FY2024$150,000
Connect to Compete INCCA · FY2024$150,000
Homestart INCMA · FY2024$147,500
All Our Kin INCCT · FY2024$137,500
See all 121 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$9.9M
Ln 12
Gifts and grantsLn 1h$9.9M
Investment incomeLn 3$32K
Money outPt IX
$6.5M
Ln 25
Programscol B$5.2M
Managementcol C$1.0M
Fundraisingcol D$293K
Owns and owesPt X
$23.7M
net assets · Ln 32
Cash and savingsLn 1–2$17.5M
Total assetsLn 16$23.9M
LiabilitiesLn 26$141K
PeoplePt VI, VII
17
listed · VII A
PaidVII A6
Voting boardVI 1a11
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$9.9M
Government grantsLn 1e$382K
Fundraising eventsLn 1c$601K
Investment incomeLn 3$32K
Total revenueLn 12$9.9M
Assets in detailPt X, end of year
CashLn 1$6.2M
SavingsLn 2$11.3M
Cash and savings togetherLn 1–2$17.5M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$65K
Total assetsLn 16$23.9M
LiabilitiesLn 26$141K
Net assetsLn 32$23.7M
OperationsPt I, VI
EmployeesI 546
VolunteersI 6326
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$12.9M$17.5M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$20.8M$23.9M
LiabilitiesLn 26$392K$141K
Net assetsLn 32$20.4M$23.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2.3M$2.3M
Pay of current officers, directors and key staffLn 5$185K$157K$19K$9K
Other salaries and wagesLn 7$2.5M$1.9M$325K$214K
Pension plan contributionsLn 8$80K$62K$11K$7K
Other employee benefitsLn 9$198K$155K$26K$17K
Payroll taxesLn 10$218K$171K$28K$18K
Accounting feesLn 11c$30K$30K
Other fees for servicesLn 11g$414K$51K$362K$1K
Office expensesLn 13$4K$4K$276
Information technologyLn 14$100K$70K$30K$418
OccupancyLn 16$178K$80K$97K$839
TravelLn 17$61K$54K$53$7K
Conferences, conventions and meetingsLn 19$62K$51K$2K$8K
InsuranceLn 23$30K$30K
Other expenses (24a–d)Ln 24$162K$104K$49K$10K
All other expensesLn 24e$10K$8K$2K$283
Total functional expensesLn 25$6.5M$5.2M$1.0M$293K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $15.3M$15.2M$45K$56.5M 990 PDF
FY2023 $14.9M$12.5M$2.4M$55.6M 990 PDF
FY2022 $21.5M$9.8M$11.6M$52.3M 990 PDF
FY2021 $25.8M$7.7M$18.2M$41.7M 990 PDF
FY2020 Viewing $9.9M$6.5M$3.4M$23.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $9,867,967 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $10,622,263$9,938,874
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $112,186$31,858
I-11 Other revenuePrior year −$257,843−$102,765
I-12 Total revenuePrior year $10,476,606$9,867,967
I-13 Grants and similar amounts paidPrior year $1,782,500$2,295,164
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,579,101$3,142,390
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,050,182$1,052,385
I-18 Total expensesPrior year $5,411,783$6,489,939
I-19 Revenue less expensesPrior year $5,064,823$3,378,028
Part VI · Governance 10 of 11 board members independent, no flags
VI-1a Voting members of the governing body11
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $9,867,967 across 7 lines filed
VIII-1c Fundraising events$601,262
VIII-1e Government grants$381,874
VIII-1f All other contributions, gifts and grants$8,955,738
VIII-1h Total contributions, gifts and grants$9,938,874
VIII-3 Investment incomeExcluded from tax $31,858$31,858
VIII-8 Net income from fundraising eventsExcluded from tax −$102,765−$102,765
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$70,907$9,867,967
Part IX · Statement of functional expenses $6,489,939 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $2,295,164$2,295,164
IX-5 Pay of current officers, directors and key staffPrograms $157,288 · Management $18,505 · Fundraising $9,252$185,045
IX-7 Other salaries and wagesPrograms $1,922,028 · Management $325,398 · Fundraising $214,241$2,461,667
IX-8 Pension plan contributionsPrograms $62,466 · Management $10,598 · Fundraising $6,985$80,049
IX-9 Other employee benefitsPrograms $154,946 · Management $25,963 · Fundraising $16,997$197,906
IX-10 Payroll taxesPrograms $170,977 · Management $28,323 · Fundraising $18,423$217,723
IX-11c Accounting feesManagement $30,063$30,063
IX-11g Other fees for servicesPrograms $50,744 · Management $362,364 · Fundraising $1,100$414,208
IX-13 Office expensesPrograms $4,080 · Management $276$4,356
IX-14 Information technologyPrograms $69,604 · Management $30,292 · Fundraising $418$100,314
IX-16 OccupancyPrograms $80,080 · Management $97,453 · Fundraising $839$178,372
IX-17 TravelPrograms $54,411 · Management $53 · Fundraising $6,512$60,976
IX-19 Conferences, conventions and meetingsPrograms $51,336 · Management $2,416 · Fundraising $8,408$62,160
IX-23 InsuranceManagement $29,979$29,979
IX-24 Other expenses (24a–d)Programs $103,690 · Management $48,738 · Fundraising $9,664$162,092
IX-24e All other expensesPrograms $7,811 · Management $1,771 · Fundraising $283$9,865
IX-25 Total functional expensesPrograms $5,184,625 · Management $1,012,192 · Fundraising $293,122$6,489,939
Part X · Balance sheet $23,880,758 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $3,707,664$6,168,974
X-2 Savings and temporary cash investmentsStart of year $9,235,829$11,290,186
X-3 Pledges and grants receivableStart of year $7,443,876$6,119,789
X-4 Accounts receivableStart of year $271,813$236,591
X-10c Land, buildings and equipment, netStart of year $0$0
X-15 Other assetsStart of year $94,235$65,218
X-16 Total assetsStart of year $20,753,417$23,880,758
X-17 Accounts payable and accrued expensesStart of year $391,920$141,233
X-26 Total liabilitiesStart of year $391,920$141,233
X-27 Net assets without donor restrictionsStart of year $2,915,980$2,812,841
X-28 Net assets with donor restrictionsStart of year $17,445,517$20,926,684
X-32 Total net assets or fund balancesStart of year $20,361,497$23,739,525
X-33 Total liabilities and net assetsStart of year $20,753,417$23,880,758
Part XI · Reconciliation of net assets $23,739,525 net assets at year end
XI-1 Total revenue$9,867,967
XI-2 Total expenses$6,489,939
XI-3 Revenue less expenses$3,378,028
XI-4 Net assets at start of year$20,361,497
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$23,739,525

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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