Greenfields Academy FY2021 filing

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EIN 84-5074164 Unknown exempt organization Chicago, IL
Form 990 (PDF)

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Revenue & expenses by yearFY2021–FY2023
Revenue
$491K
FY2021
Expenses
$765K
FY2021

Form 990 for the fiscal year ending July 2021 (IRS tax year 2020).


Empower students to discover passions, develop skills, and become their best selves. For fiscal year 2021 it reported $491K in revenue, $765K in expenses, and $-274K in net assets.Pt I

Type
Unknown exempt organization · Nonprofit
Location
Chicago, IL
Website
www.greenfieldsacademy.com
Filings
3 on file (2021–2021)
Revenue
$491KFY2021
Expenses
$765K
Net assets
$-274K
People
4
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Provided by the organization

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Size
$100K–1M
What they do
Empower students to discover passions, develop skills, and become their best selves.
Leadership
Rob Huge · Founder · $18K
Money in and out
$491K revenue, $765K expenses
Bottom line
-56% surplus margin
Reported financial activity · FY2021
Total revenue
$491K
Pt VIII · Ln 12
Total expenses
$765K
Pt IX · Ln 25
Net assets
$-274K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$274K
Where spending went · Part IX cols B–D
Program services $0.68 Management & general $0.32
Surplus margin
-56%
revenue over expenses, this year
Program spending
68%
of expenses reach programs

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Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$408K
FY2021
Total liabilities
$682K
FY2021
Revenue less expensesPt I · Ln 19−$274K
Total assetsPt X · Ln 16$408K
Program-expense ratioPt IX · col B68%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CGreenfields Academy
EINHdr · item D84-5074164
Principal addressHdr · item CChicago, IL
WebsiteHdr · item Jwww.greenfieldsacademy.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFpending

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Founder
$17,500Pt VII · Sec A
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2022FY2021
Rob Huge$70,000$17,500

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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Mission & Programs · Part III

Where the work happens

2 program services account for $516K of program spending, described in the organization's own filed words · FY2020.
01

The school's k-12 program is designed to develop the mindset and skills to thrive in a fast-paced interconnected world. In this program learners stay curious, challenge themselves and make a difference in the world. Our 36 students this academic year cultivated passion, curiosity, real world projects, and hard work.

$515Kprogram expense
02

The chicago children's business fair invites kids aged 5-17 to develop a brand, create a product or service, build a marketing strategy, and then sell their goods to customers.

$1Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue$455K · 93%
Contributions & grants$29K · 6%
Other revenue$7K · 1%
Program service revenue93%$455K
Contributions & grants6%$29K
Other revenue1%$7K
Total revenueLn 12$491K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.68 Management & general $0.32
Program services68%$516K
Management & general32%$248K
Total functional expensesLn 25$765K

Balance Sheet

Part X · end of year
CashLn 1$173K
Total assetsLn 16$408K
Total liabilitiesLn 26$682K
Total net assetsLn 32$-274K
Months of cash on handcomputed2.7

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $173K · Operating expenses/yr $765K
2.7 months
Where the money goes
Program services
Program services $516K · Total expenses $765K
68%
Management & General
Management & general $248K · Total expenses $765K
32%
Fundraising
Fundraising $0 · Total expenses $765K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $29K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $29K · Total revenue $491K
6%
Government reliance
Government grants — · Total revenue $491K
—
Earned-income share
Program service revenue $455K · Total revenue $491K
93%
Investment reliance
Investment income $0 · Total revenue $491K
0%
Program self-sufficiency
Program service revenue $455K · Total expenses $765K
59%
Growth & trend
Revenue growth (YoY)
This year $491K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $-274K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $491K · Expenses $765K
-56%
Liabilities-to-Assets
Total liabilities — · Total assets $408K
—
Net-asset ratio
Net assets $-274K · Total assets $408K
-67%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $408K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Rob Huge · Reported title FOUNDER · Highest reported compensation $18K · Total expenses $765K
2%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $370K · Total expenses $765K
48%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 68%——
Overhead ratio 32%——
Fundraising cost ratio 0%——
Legal fee ratio 0.04%——
Accounting fee ratio 0.6%——

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 · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$52

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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
FY2023 (Latest)$333K revenue · ⤓ 990 PDF
FY2022$580K revenue · ⤓ 990 PDF
FY2021$491K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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