Project Onward FY2024 filing

Chicago, IL · Public charity (501(c)(3)) · Employment

✓ Tax-deductible
Revenue
$533K
-39% vs prior year
Spent
$948K
To programs
79%
Net assets
$60K
By yearFY2020–FY2025
Revenue
$533K
FY2024▼ -39%
Revenue by fiscal year
FY2020$569K
FY2021$452K
FY2022$603K
FY2023$876K
FY2024$533K
FY2025$599K
Expenses
$948K
FY2024▲ +30%
Expenses by fiscal year
FY2020$405K
FY2021$430K
FY2022$541K
FY2023$729K
FY2024$948K
FY2025$680K
Net assets
$60K
FY2024▼ -87%
Net assets by fiscal year
FY2020$243K
FY2021$265K
FY2022$327K
FY2023$472K
FY2024$60K
FY2025−$16K

From the FY2024 Form 990 (year ending May 2024) · see the original

You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CProject Onward
EINHdr · item D45-5187731
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFSep 2013
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CChicago, IL
NTEE classificationIRS BMFEmployment (J30)
WebsiteHdr · item Jwww.projectonward.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.79 Management & general $0.14 Fundraising $0.07
Program services79%$746K
Management & general14%$136K
Fundraising7%$71K
Total functional expensesLn 25$948K

Financial health

Is it on solid ground?

Program efficiency
78%
of spending reaches programs
Operating runway
1.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
-78%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$307K
FY2024▼ -62%
Total assets by fiscal year
FY2020$287K
FY2021$324K
FY2022$341K
FY2023$814K
FY2024$307K
FY2025$139K
Total liabilities
$246K
FY2024▼ -28%
Total liabilities by fiscal year
FY2020$44K
FY2021$59K
FY2022$14K
FY2023$342K
FY2024$246K
FY2025$155K
Revenue less expensesPt I · Ln 19−$415K
Total assetsPt X · Ln 16$307K
Program-expense ratioPt IX · col B79%
Voting members of governing bodyPt I · Ln 320
Independent voting membersPt I · Ln 420

Balance Sheet

Part X · end of year
CashLn 1$70K
Total assetsLn 16$307K
Total liabilitiesLn 26$246K
Total net assetsLn 32$60K
Months of cash on handcomputed0.9

Statement of Revenue

Part VIII
Contributions & grants$362K · 68%
Program service revenue$170K · 32%
Contributions & grants68%$362K
Program service revenue32%$170K
Investment income$521
Other revenue$595
— government grantsLn 1e$3K
Total revenueLn 12$533K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $70K · Operating expenses (Pt IX) $948K · Less non-cash grants $103K · Cash operating expenses/yr $845K
1.0 months
Where the money goes
Program services
Program services $741K · Total expenses $948K
78%
Management & General
Management & general $136K · Total expenses $948K
14%
Fundraising
Fundraising $71K · Total expenses $948K
7%
Cost to raise $1
Fundraising expense (3-yr avg) $56K · Solicited contributions (3-yr avg) $444K
$0.13 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $362K · Total revenue $533K
68%
Government reliance
Government grants $3K · Total revenue $533K
0.6%
Earned-income share
Program service revenue $170K · Total revenue $533K
32%
Investment reliance
Investment income $521 · Total revenue $533K
+0.10%
Program self-sufficiency
Program service revenue $170K · Total expenses $948K
18%
Growth & trend
Revenue growth (YoY)
This year $533K · Prior year $876K
-39%
Revenue CAGR
FY2019 $569K · FY2023 $533K
-2%
Net-asset trend (YoY)
End of year $60K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $533K · Expenses $948K
-78%
Liabilities-to-Assets
Total liabilities — · Total assets $307K
—
Net-asset ratio
Net assets $60K · Total assets $307K
20%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $307K
0%
People & payroll
Highest Reported Total Compensation
Individual Nancy Gomez · Reported title Executive Dir. · Highest reported compensation $71K · Total expenses $948K
8%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $592K · Total expenses $948K
63%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 79%——
Overhead ratio 14%——
Fundraising cost ratio 20%——
Revenue growth -39%——
Investment management fee ratio <0.01%——
Legal fee ratio 0%——
Accounting fee ratio 0%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Dir.
$71,467Pt VII · Sec A
Executive Dir.
$71,467Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Nancy Gomez’s $71K as Executive Dir. is at the 65th percentile of top reported officer pay among 1217 $100K–1M employment 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 · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Nancy Gomez$71,467$60,551$55,822$55,058—
Nancy Gomez————$54,643

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 Project Onward executive salaries →

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Governance & Policies

Part VI
  • 20Voting board membersPt VI · Ln 1a
  • 20Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2Yes

Mission and programs

What it does.

Empowers adult artists with disabilities to create art freely in a supportive studio.

Provided by the organization

This section is blank until Project Onward claims this page.

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Mission & Programs · Part III

Where the work happens

2 program services account for $1.5M of program spending, described in the organization's own filed words · FY2023.
01

The organization operates a studio for artists to assist in their development as artists. The studio is also open to the public serving as a space to promote art as a tool for understanding and valuing the real and potential contributions of those with disabilities as well as hosting public programs.

$746Kprogram expense
02

The organization operates a studio for artists to assist in their development as artists. The studio is also open to the public serving as a space to promote art as a tool for understanding and valuing the real and potential contributions of those with disabilities as well as hosting public programs.

$741Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 3 funders$127K
See all 3 funders →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest $599K$680K+12% 990 PDF
FY2024 Viewing $533K$948K-39% 990 PDF
FY2023 $876K$729K+45% 990 PDF
FY2022 $603K$541K+33% 990 PDF
FY2021 $452K$430K-21% 990 PDF
FY2020 $569K$405K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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