Civic Intelligence

Greenwood Project

990 • Fiscal year 2024 • EIN 81-1990763

Oct 01, 2023 to Sep 30, 2024 • Filed on Aug 11, 2025

Organization ProfileWWW.GREENWOODPROJECT.ORG
231 S Lasalle Street 2100Chicago, IL 60604

(312) 819-8490

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

43rd percentile

0.03x

Higher debt load relative to assets than 43% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

40th percentile

0.04x

Higher debt load relative to revenue than 40% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

64th percentile

12%

Higher net margin than 64% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

78th percentile

$132,500

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 4.9% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

70th percentile

13%

Faster asset growth than 70% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

67th percentile

21%

Faster revenue growth than 67% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets43rd percentile

Assets

Up

$3,112,154

Up $375,222 (+14%) from 2022

Net Assets

Up

$3,009,885

Up $350,766 (+13%) from 2022

Liabilities

Up

$102,269

Up $24,456 (+31%) from 2022

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin64th percentile

Revenue

Up

$2,720,746

Up $291,595 (+12%) from 2022

Expenses

Up

$2,386,851

Up $588,342 (+33%) from 2022

Net Income

Down

$333,895

Down $296,747 (-47%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2016: $1,250Liabilities 2016: $0Net Assets 2016: $1,2502016Assets 2017: $0Liabilities 2017: $22,783Net Assets 2017: -$22,7832017Assets 2018: $126,340Liabilities 2018: $14,357Net Assets 2018: $111,9832018Assets 2019: $196,054Liabilities 2019: $30,773Net Assets 2019: $165,2812019Assets 2020: $1,296,310Liabilities 2020: $38,340Net Assets 2020: $1,257,9702020Assets 2021: $1,875,734Liabilities 2021: $27,381Net Assets 2021: $1,848,3532021Assets 2022: $2,736,932Liabilities 2022: $77,813Net Assets 2022: $2,659,1192022Assets 2024: $3,112,154Liabilities 2024: $102,269Net Assets 2024: $3,009,8852024

Highlighted filing

2024

Assets$3,112,154
Liabilities$102,269
Net Assets$3,009,885
Open 2024 Filing

Operations Trend

Revenue Growth67th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2016: $1,250Expenses 2016: $0Net Income 2016: $1,2502016Revenue 2017: $47,103Expenses 2017: $71,136Net Income 2017: -$24,0332017Revenue 2018: $162,208Expenses 2018: $112,380Net Income 2018: $49,8282018Revenue 2019: $168,557Expenses 2019: $188,115Net Income 2019: -$19,5582019Revenue 2020: $1,418,921Expenses 2020: $326,232Net Income 2020: $1,092,6892020Revenue 2021: $2,223,966Expenses 2021: $1,319,497Net Income 2021: $904,4692021Revenue 2022: $2,429,151Expenses 2022: $1,798,509Net Income 2022: $630,6422022Revenue 2024: $2,720,746Expenses 2024: $2,386,851Net Income 2024: $333,8952024

Highlighted filing

2024

Revenue$2,720,746
Expenses$2,386,851
Net Income$333,895
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Aug 11, 2025
Return Version
2023v6.0
Gross Receipts
$2,720,746
Mission and Program Overview

Mission

Greenwood's mission is to create career pathways in the financial services industry for black and latino college students. We partner with companies to find equitable and inclusive solutions for recruitment, retention, and advancement. Our vision is a finance industry without barriers to entry and advancement for black and latino people.

Greenwood project trains ambitious college students to compete and win in high-trajectory financial careers that drive long-term economic mobility.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,457,077$1,807,796▲ $350,719
Cash and Non-Interest-Bearing Accounts$194,630$1,244,911▲ $1,050,281
Prepaid Expenses and Deferred Charges$30,395$44,316▲ $13,921
Investments in Publicly Traded Securities$6,586$8,219▲ $1,633
Savings and Temporary Cash Investments$1,047,955$1,944▼ $1,046,011
Total Assets$2,745,030$3,112,154▲ $367,124
Other Assets Total$8,387$4,968▼ $3,419
Liabilities
Accounts Payable and Accrued Expenses$67,261$102,269▲ $35,008
Other Liabilities$3,404$0▼ $3,404
Total Liabilities$70,665$102,269▲ $31,604
Net Assets / Fund Balance
Net Assets With Donor Restrictions$833,650$2,154,241▲ $1,320,591
Net Assets Without Donor Restrictions$1,840,715$855,644▼ $985,071
Total Net Assets Fund Balance$2,674,365$3,009,885▲ $335,520
Total Liabilities and Net Assets / Fund Balance$2,745,030$3,112,154▲ $367,124
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Emily HolthausDirector of ProgramsFT$129,453$3,047$132,500
Kwesi SmithCEOFT$84,007$4,256$88,263

Board Members and Trustees

NameTitle
Sizwe KamaraBoard Chair
Catherine ClayDirector
Frederick MartinDirector
Jj KinahanDirector
Joseph LawlerDirector
Mark SebastianDirector
Michael PiperDirector
Nick CherneyDirector
Sulin BaDirector
Erika KingestuSecretary
Michael RothkopfTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,701,591
Program Service Revenue
$0
Investment Income
$14,871
Other Revenue
$4,284
All Other Contributions
$2,701,591
Change in Net Assets
$333,895

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,720,746
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$502,821
Total Revenue per Audited Statements
$3,223,567
Total Revenue per Form 990
$2,720,746
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,575,584
Other Expenses$811,267
Total Fundraising Expense$457,234
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$780,388$138,482$270,001$1,188,871
Current Officers, Directors, Trustees, and Key Employees$92,989$65,092$27,897$185,978
Fees for Services Other$104,245$9,978$55,605$169,828
Fees for Services Accounting-$123,806-$123,806
Payroll Taxes$65,353$15,853$22,974$104,180
Other Employee Benefits$26,087$14,011$33,957$74,055
Advertising$44,280$7,717$5,987$57,984
Information Technology$19,242$23,165$6,766$49,173
Occupancy$28,624$9,116$10,398$48,138
Other Expenses$266,286$42,747$98$42,747
Pension Plan Contributions$7,762$4,077$10,661$22,500
All Other Expenses$135$4,200$11,267$15,602
Conferences and Meetings$4,607$7,824$955$13,386
Insurance$2,512$7,428-$9,940
Fees for Services Legal-$9,325-$9,325
Office Expenses$1,900$2,288$668$4,856
Total Functional Expenses$1,444,410$485,207$457,234$2,386,851

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,888,047
Expenses per Audited Statements$2,386,851
Total Expenses per Form 990$2,386,851
Expenses Not Reported on Form 990$501,196
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1A

“The executive committee consists of the board president, treasurer, and another director of the board. The committee shall act with full authority of the board between board meetings, subject to statutory and board-imposed limitations on committee action.”

Form 990, Part VI, Section B, Line 11B

“The ceo of greenwood project will email a draft copy of the form 990 to the governing board for their review prior to being filed.”

Form 990, Part VI, Section B, Line 12C

“Officers, directors and key employees are required to sign an annual conflict of interest policy. If a potential conflict exists, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors considering the proposed transaction or arrangement. The interested person may present at the governing board meeting, but must leave the room during the discussion and vote on the transaction or arrangement. This must be noted in the board minutes for that meeting.”

Form 990, Part VI, Section B, Line 15A

“The ceo's compensation is directly linked to his performance and the attainment of organizational objectives. At the outset of every fiscal year, the ceo presents his personal and organizational goals to the board chair and executive committee. Following a review, these objectives are endorsed by both entities. The ceo's compensation is contingent upon a comprehensive assessment of his performance vis--vis these goals. Comparability data and nonprofit compensation guides are used to determine compensation. The process described here was last completed in 2024.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Greenwood Project
EIN
81-1990763
Phone
3128198490
Address
231 S LASALLE STREET 2100, CHICAGO, IL 60604

Signing Officer

Name
Kwesi Smith
Title
Executive Director
Phone
3128198490
Signed
2025-08-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kwesi Smith
Formed
2016
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
11
Employees
55
Volunteers
141

Preparer

Firm
Cliftonlarsonallen Llp
Address
8215 GREENWAY BOULEVARD SUITE 600, MIDDLETON, WI 53562
Preparer
Kimberly Anderson
Phone
6086628600
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IRS990/MissionDesc0GREENWOOD'S MISSION IS TO CREATE CAREER PATHWAYS IN THE FINANCIAL SERVICES INDUSTRY FOR BLACK AND LATINO COLLEGE STUDENTS. WE PARTNER WITH COMPANIES TO FIND EQUITABLE AND INCLUSIVE SOLUTIONS FOR RECRUITMENT, RETENTION, AND ADVANCEMENT. OUR VISION IS A FINANCE INDUSTRY WITHOUT BARRIERS TO ENTRY AND ADVANCEMENT FOR BLACK AND LATINO PEOPLE.
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IRS990/PrincipalOfficerNm0KWESI SMITH
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME - 2019 AMOUNT: $ 10,044. 2021 AMOUNT: $ 18,182. 2022 AMOUNT: $ 35. 2023 AMOUNT: $ 4,284.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE 2021 YEAR COLUMN ENDED 9/30/2022 WAS A SHORT YEAR FOR THE PERIODS 1/1/22-9/30/22.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART II, SHORT YEAR EXPLANATION:
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt02223966
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE COMMITTEE CONSISTS OF THE BOARD PRESIDENT, TREASURER, AND ANOTHER DIRECTOR OF THE BOARD. THE COMMITTEE SHALL ACT WITH FULL AUTHORITY OF THE BOARD BETWEEN BOARD MEETINGS, SUBJECT TO STATUTORY AND BOARD-IMPOSED LIMITATIONS ON COMMITTEE ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CEO OF GREENWOOD PROJECT WILL EMAIL A DRAFT COPY OF THE FORM 990 TO THE GOVERNING BOARD FOR THEIR REVIEW PRIOR TO BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE REQUIRED TO SIGN AN ANNUAL CONFLICT OF INTEREST POLICY. IF A POTENTIAL CONFLICT EXISTS, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. THE INTERESTED PERSON MAY PRESENT AT THE GOVERNING BOARD MEETING, BUT MUST LEAVE THE ROOM DURING THE DISCUSSION AND VOTE ON THE TRANSACTION OR ARRANGEMENT. THIS MUST BE NOTED IN THE BOARD MINUTES FOR THAT MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CEO'S COMPENSATION IS DIRECTLY LINKED TO HIS PERFORMANCE AND THE ATTAINMENT OF ORGANIZATIONAL OBJECTIVES. AT THE OUTSET OF EVERY FISCAL YEAR, THE CEO PRESENTS HIS PERSONAL AND ORGANIZATIONAL GOALS TO THE BOARD CHAIR AND EXECUTIVE COMMITTEE. FOLLOWING A REVIEW, THESE OBJECTIVES ARE ENDORSED BY BOTH ENTITIES. THE CEO'S COMPENSATION IS CONTINGENT UPON A COMPREHENSIVE ASSESSMENT OF HIS PERFORMANCE VIS--VIS THESE GOALS. COMPARABILITY DATA AND NONPROFIT COMPENSATION GUIDES ARE USED TO DETERMINE COMPENSATION. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 1A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02745030

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,112,154
Liabilities
$102,269
Net assets
$3,009,885
Revenue
$2,720,746
Expenses
$2,386,851
Net income
$333,895
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.11$0.10$3.01$2.72$2.39$0.33
2022Detailed filing. Detailed filing data is available for this year.$2.74$0.08$2.66$2.43$1.80$0.63
2021Detailed filing. Detailed filing data is available for this year.$1.88$0.03$1.85$2.22$1.32$0.90
2020Detailed filing. Detailed filing data is available for this year.$1.30$0.04$1.26$1.42$0.33$1.09
2019Detailed filing. Detailed filing data is available for this year.$0.20$0.03$0.17$0.17$0.19$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.13$0.01$0.11$0.16$0.11$0.05
2017Detailed filing. Detailed filing data is available for this year.$0.00$0.02$0.02$0.05$0.07$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.00$0.00$0.00
Peer Organizations

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