Greenwood Project is located in Chicago, IL. The organization was established in 2017. According to its NTEE Classification (P11) the organization is classified as: Single Organization Support, under the broad grouping of Human Services and related organizations. As of 09/2022, Greenwood Project employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenwood Project is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Greenwood Project generated $2.2m in total revenue.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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. AFTER A FOUR (4) WEEK INTENSIVE BOOT CAMP THAT COVERS PROFESSIONAL SKILLS, ACCOUNTING PRINCIPLES, AND THE BASICS OF FINANCIAL MARKETS AND VALUATION, STUDENTS MOVE INTO SIX (6) WEEK INTERNSHIP EXPERIENCES AT PARTNER COMPANIES ACROSS THE FINANCIAL SERVICES INDUSTRY. UPON THE COMPLETION OF THEIR TRAINING SUMMER, STUDENTS WHO RETURN TO THE PROGRAM FOR MULTIPLE YEARS MOVE INTO TRADITIONAL TEN (10) TO TWELVE (12) WEEK INTERNSHIP PLACEMENTS. THROUGHOUT THEIR ENGAGEMENT WITH THE GREENWOOD PROJECT, STUDENTS MEET AND ENGAGE WITH OVER 100 CORPORATE VOLUNTEERS AND PROFESSIONALS FOR EACH YEAR OF THEIR PARTICIPATION IN THE PROGRAM.
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. AFTER A FOUR (4) WEEK INTENSIVE BOOT CAMP THAT COVERS PROFESSIONAL SKILLS, ACCOUNTING PRINCIPLES, AND THE BASICS OF FINANCIAL MARKETS AND VALUATION, STUDENTS MOVE INTO SIX (6) WEEK INTERNSHIP EXPERIENCES AT PARTNER COMPANIES ACROSS THE FINANCIAL SERVICES INDUSTRY. UPON THE COMPLETION OF THEIR TRAINING SUMMER, STUDENTS WHO RETURN TO THE PROGRAM FOR MULTIPLE YEARS MOVE INTO TRADITIONAL TEN (10) TO TWELVE (12) WEEK INTERNSHIP PLACEMENTS. THROUGHOUT THEIR ENGAGEMENT WITH THE GREENWOOD PROJECT, STUDENTS MEET AND ENGAGE WITH OVER 100 CORPORATE VOLUNTEERS AND PROFESSIONALS FOR EACH YEAR OF THEIR PARTICIPATION IN THE PROGRAM.
OVER THE COURSE OF SIX (6) WEEKS, ACCEPTED STUDENTS ARE IMMERSED IN AN INTENSIVE PROGRAM THAT COVERS A COMBINATION OF FINANCIAL AND TECHNICAL EDUCATION WITH EXTENSIVE EXPOSURE TO CAREERS IN THE FINANCIAL SERVICES INDUSTRY. IN ADDITION TO EACH INSTITUTE'S CURRICULUM, STUDENTS MEET AND INTERACT WITH A MINIMUM OF 100 CORPORATE VOLUNTEERS FROM ACROSS THE FINANCE INDUSTRY AND FROM SOME OF THE NATION'S LARGEST FINANCIAL FIRMS, LEARNING ABOUT THEIR COMPANIES, THEIR ROLES, AND VARIOUS CAREER PATHWAYS INTO THE INDUSTRY.IN THE FINTECH INSTITUTE, STUDENTS WORK THROUGH A CURRICULUM THAT COVERS PROFESSIONAL SKILLS, AN INTRODUCTION TO CODING, AND BASIC FUNCTIONS OF THE CODING LANGUAGE PYTHON. STUDENTS COMPLETE MINI- PROJECTS WHERE THEY APPLY THEIR LEARNING ABOUT CODING TO COMPLETE BASIC FINANCIAL ANALYSIS. THE PROGRAM CULMINATES IN A FINAL CODING PRESENTATION WHERE STUDENTS WRITE CODE TO ANALYZE MARKET DATA AND CREATE AN INVESTING STRATEGY BASED ON THEIR ANALYSIS.
OVER THE COURSE OF SIX (6) WEEKS, ACCEPTED STUDENTS ARE IMMERSED IN AN INTENSIVE PROGRAM THAT COVERS A COMBINATION OF FINANCIAL AND TECHNICAL EDUCATION WITH EXTENSIVE EXPOSURE TO CAREERS IN THE FINANCIAL SERVICES INDUSTRY. IN ADDITION TO EACH INSTITUTE'S CURRICULUM, STUDENTS MEET AND INTERACT WITH A MINIMUM OF 100 CORPORATE VOLUNTEERS FROM ACROSS THE FINANCE INDUSTRY AND FROM SOME OF THE NATION'S LARGEST FINANCIAL FIRMS, LEARNING ABOUT THEIR COMPANIES, THEIR ROLES, AND VARIOUS CAREER PATHWAYS INTO THE INDUSTRY. OUR HIGH SCHOOL STUDENTS COME FROM 45 DISTINCT ZIP CODES IN THE CHICAGOLAND AREA. IN THE FINANCIAL INSTITUTE, STUDENTS WORK THROUGH A CURRICULUM THAT COVERS PROFESSIONAL SKILLS, TOPICS IN PERSONAL FINANCE, BASIC ACCOUNTING PRINCIPLES, AND AN INTRODUCTION TO FINANCIAL MARKETS. THE PROGRAM CULMINATES IN A STOCK PITCH PROJECT, WHERE STUDENTS MUST ANALYZE THE FINANCIALS OF A COMPANY AND PITCH THEIR APPROACH TO INVESTING IN THAT COMPANY'S STOCK.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Bevon Joseph President And CEO | 40 | $93,750 | |
Elois Joseph VP Of Strategy | 40 | $68,333 | |
Kwesi Smith Board President | 10 | $0 | |
Michael Rothkopf Treasurer | 6 | $0 | |
Erika Kingetsu Secretary | 1 | $0 | |
Mark Sebastian Director | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Depaul University | 9/29/22 | $105,478 |
Streetmasters Inc | 9/29/22 | $61,794 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $2,241,373 |
Noncash contributions included in lines 1a–1f | $1,000 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,241,373 |
Total Program Service Revenue | $0 |
Investment income | $315 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $2,241,723 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $144,515 |
Compensation of current officers, directors, key employees. | $12,170 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $602,903 |
Pension plan accruals and contributions | $9,709 |
Other employee benefits | $11,913 |
Payroll taxes | $63,580 |
Fees for services: Management | $0 |
Fees for services: Legal | $56,180 |
Fees for services: Accounting | $158,024 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $237,759 |
Advertising and promotion | $14,586 |
Office expenses | $11,229 |
Information technology | $29,780 |
Royalties | $0 |
Occupancy | $5,633 |
Travel | $6,631 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $83,764 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $2,247 |
All other expenses | $958 |
Total functional expenses | $2,228,237 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $194,630 |
Savings and temporary cash investments | $1,047,955 |
Pledges and grants receivable | $1,457,077 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $30,395 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $6,586 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $8,387 |
Total assets | $2,745,030 |
Accounts payable and accrued expenses | $67,261 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $3,404 |
Total liabilities | $70,665 |
Net assets without donor restrictions | $1,840,715 |
Net assets with donor restrictions | $833,650 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $2,745,030 |
Over the last fiscal year, Greenwood Project has awarded $82,500 in support to 4 organizations.
Grant Recipient | Amount |
---|---|
CME FOUNDATION PURPOSE: PROGRAM | $25,000 |
CHICAGO HOUSING COSULTING SERVICES PURPOSE: PROGRAM | $5,000 |
CHARLES SCHWAB FOINDATION PURPOSE: PROGRAM | $2,500 |
WILLIAM BLAIR FOUNDATION PURPOSE: PROGRAM | $50,000 |