Greenwood Project EIN 81-1990763

Greenwood Project

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Connects Black and Latino college students with financial services careers through company partnerships. For fiscal year 2024 it reported $2.7M in revenue, $2.4M in expenses, and $3.0M in net assets.Pt I

Type
Public charity (501(c)(3)) · Human Services
Location
Chicago, IL
Filings
4 on file (2020–2024)
Revenue
$2.7MFY2024
Expenses
$2.4M
Net assets
$3.0M
People
13
Filings
4
Updates
0
More identity details & actions ⌄
EIN  81-1990763 Public charity (501(c)(3)) Chicago, IL
Form 990 (PDF)
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Figures match the IRS filing checked 8/31/26 · see original: IRS
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Size
$1–10M
What they do
Connects Black and Latino college students with financial services careers through company partnerships.
Leadership
Emily Holthaus · Director of Programs · $129K
Money in and out
$2.7M revenue, $2.4M expenses
Bottom line
61% program efficiency
Where the money goes · FY2024
Total revenue
$2.7M
Pt VIII · Ln 12
Total expenses
$2.4M
Pt IX · Ln 25
Net assets
$3.0M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $334K
Where spending went · Part IX cols B–D
Program services $0.61 Management & general $0.20 Fundraising $0.19
Program efficiency
61%
of spending reaches programs
Operating runway
6.3mo
months of highly liquid reserves at operating expense rate
Surplus margin
+12%
revenue over expenses, this year▼ -53% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$2.7M
FY2024▲ +12%
Expenses
$2.4M
FY2024▲ +33%
Total assets
$3.1M
FY2024▲ +14%
Total liabilities
$102K
FY2024▲ +31%
Total revenue
$2.7M
Pt VIII · Ln 12
Total expenses
$2.4M
Pt IX · Ln 25
Net assets
$3.0M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$334K
Total assetsPt X · Ln 16$3.1M
Program-expense ratioPt IX · col B61%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 411
Mission & Programs · Part III

Where the work happens

1 program service account for $1.4M of program spending, described in the organization's own filed words · FY2023.
01

Greenwood Project's College Program

With the goal of both exposure to careers in the financial services industry and building career pathways into the industry for black and latinx students, the greenwood project's college programs are engineered to provide meaningful training and work experiences for students across multiple years of their college careers.

$1.4Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CGreenwood Project
EINHdr · item D81-1990763
Principal addressHdr · item CChicago, IL
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P11)
Ruling yearIRS BMFFeb 2024

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b11
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Director of Programs
$129,453Pt VII · Sec A
$84,007Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Emily Holthaus’s $129K as Director of Programs is at the 61st percentile of top reported officer pay among 3864 $1–10M human services 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 · 7 named individuals · Part VII

NameFY2024FY2022FY2021
Emily Holthaus$129,453$113,077
Bevon Joseph$118,566
Bevon Joseph$100,270
Elois Joseph$88,361
Kwesi Smith$84,007
Elois Joseph$81,300
Emily Holthaus$59,328

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.

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Statement of Revenue

Part VIII
Contributions & grants$2.7M · 99%
Investment income$15K · 1%
Contributions & grants99%$2.7M
Investment income1%$15K
Other revenue$4K
Total revenueLn 12$2.7M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.61 Management & general $0.20 Fundraising $0.19
Program services61%$1.4M
Management & general20%$485K
Fundraising19%$457K
Total functional expensesLn 25$2.4M

Balance Sheet

Part X · end of year
CashLn 1$1.2M
Total assetsLn 16$3.1M
Total liabilitiesLn 26$102K
Total net assetsLn 32$3.0M
Months of cash on handcomputed6.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.3M · Operating expenses (Pt IX) $2.4M · Less non-cash grants $9K · Cash operating expenses/yr $2.4M
6.3 months
Where the money goes
Program services
Program services $1.4M · Total expenses $2.4M
61%
Management & General
Management & general $485K · Total expenses $2.4M
20%
Fundraising
Fundraising $457K · Total expenses $2.4M
19%
Cost to raise $1
Fundraising expense (2-yr avg) $273K · Solicited contributions (2-yr avg) $2.5M
$0.11 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $2.7M · Total revenue $2.7M
99%
Government reliance
Government grants — · Total revenue $2.7M
Earned-income share
Program service revenue $0 · Total revenue $2.7M
0%
Investment reliance
Investment income $15K · Total revenue $2.7M
+0.5%
Program self-sufficiency
Program service revenue $0 · Total expenses $2.4M
0%
Growth & trend
Revenue growth (YoY)
This year $2.7M · Prior year $2.4M
+12%
Net-asset trend (YoY)
End of year $3.0M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.7M · Expenses $2.4M
+12%
Liabilities-to-Assets
Total liabilities — · Total assets $3.1M
Net-asset ratio
Net assets $3.0M · Total assets $3.1M
97%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $8K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $3.1M
0.3%
People & payroll
Highest Reported Total Compensation
Individual Emily Holthaus · Reported title DIRECTOR OF PROGRAMS · Highest reported compensation $129K · Total expenses $2.4M
5%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $1.6M · Total expenses $2.4M
66%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 61%
Overhead ratio 20%
Fundraising cost ratio 17%
Revenue growth 12%
Legal fee ratio 0.4%
Accounting fee ratio 5%

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.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 15 funders →
Grants paid · 1 grant · $5K · 2022–2022
Brandy WayneFY2022$5,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$2.7M revenue · viewing · ⤓ 990 PDF
FY2023not on file
FY2022$2.4M revenue · ⤓ 990 PDF
FY2021$2.2M revenue · ⤓ 990 PDF
FY2020$1.4M revenue · ⤓ 990 PDF

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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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