PROJECT EXPLORATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1999

Legal Domicile

Principal Officer

NATASHA SMITH-WALKER

Phone

3122734026

Tax Period

2023-09-01 to 2024-08-31

PROJECT EXPLORATION, founded in 1999, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.1M in total revenue in fiscal year 2023. Revenue surged 63% from the prior year, signaling strong growth momentum. Expenses of $1.9M left a modest 8% surplus.

Mission

PROJECT EXPLORATION CREATES TRANSFORMATIVE LEARNING OPPORTUNITIES FOR YOUTH UNDERREPRESENTED IN THE SCIENCES -- PARTICULARLY STUDENTS OF COLOR AND GIRLS -- BY EQUIPPING THEM WITH THE SKILLS, PRACTICES, AND MINDSET NEEDED FOR A LIFELONG PURSUIT OF LEARNING.

Program Service Accomplishments

Program 1

Expenses: $1,057,598

YOUTH-SCIENCE PATHWAY PROGRAMS (DIRECT SERVICE) PROJECT EXPLORATION'S YOUTH-SCIENCE PATHWAY (YSP) PROGRAMS PROVIDE DIRECT STEM LEARNING EXPERIENCES TO UNDERREPRESENTED YOUTH IN GRADES K-12. THROUGH MULTI-PHASE ENGAGEMENT-LAUNCH, DISCOVER, EXPLORE, AND PURSUE-STUDENTS PARTICIPATE IN HANDS-ON SCIENCE ACTIVITIES, WORK WITH STEM MENTORS, AND EXPLORE SCIENCE, TECHNOLOGY, ENGINEERING, AND MATH CAREERS. PROGRAMS INCLUDE AFTER-SCHOOL AND SUMMER OPPORTUNITIES THAT BUILD CONFIDENCE, SKILLS, AND LONG-TERM INTEREST IN STEM.

Program 2

Expenses: $211,519

STEM ECOSYSTEM - CHICAGO STEM PATHWAYS COOPERATIVE PROJECT EXPLORATION SERVES AS THE BACKBONE ORGANIZATION OF THE CHICAGO STEM PATHWAYS COOPERATIVE. THIS CITYWIDE INITIATIVE CONVENES YOUTH-SERVING...

STEM ECOSYSTEM - CHICAGO STEM PATHWAYS COOPERATIVE PROJECT EXPLORATION SERVES AS THE BACKBONE ORGANIZATION OF THE CHICAGO STEM PATHWAYS COOPERATIVE. THIS CITYWIDE INITIATIVE CONVENES YOUTH-SERVING ORGANIZATIONS, EDUCATORS, FUNDERS, AND POLICYMAKERS TO EXPAND ACCESS TO HIGH-QUALITY STEM LEARNING OPPORTUNITIES. THE COOPERATIVE FOSTERS CROSS- SECTOR COLLABORATION, SUPPORTS SHARED DATA PRACTICES, AND INFORMS CITYWIDE PLANNING TO ENSURE COMMUNITY STEM EQUITY. IT ADVANCES A VISION OF A MORE INCLUSIVE STEM ECOSYSTEM THROUGH CONVENINGS, RESEARCH, AND PROFESSIONAL LEARNING COMMUNITIES.

Program 3

Expenses: $141,013

COMMUNITY ECOSYSTEM - THE AUSTIN EXPERIENCE / MY CHI. MY FUTURE. PROJECT EXPLORATION LEADS PLACE-BASED STEM ECOSYSTEM WORK IN CHICAGO'S AUSTIN NEIGHBORHOOD THROUGH INITIATIVES LIKE THE AUSTIN...

COMMUNITY ECOSYSTEM - THE AUSTIN EXPERIENCE / MY CHI. MY FUTURE. PROJECT EXPLORATION LEADS PLACE-BASED STEM ECOSYSTEM WORK IN CHICAGO'S AUSTIN NEIGHBORHOOD THROUGH INITIATIVES LIKE THE AUSTIN EXPERIENCE AND MY CHI. MY FUTURE. THESE EFFORTS FOSTER SAFE, CONNECTED COMMUNITIES WHERE YOUTH AND FAMILIES ACCESS OUT-OF-SCHOOL-TIME STEM OPPORTUNITIES. BY PARTNERING WITH LOCAL ORGANIZATIONS AND YOUTH LEADERS, THE PROGRAM BUILDS COMMUNITY TRUST, SUPPORTS YOUTH VOICE, AND ALIGNS RESOURCES TO PROMOTE WELLNESS, WORKFORCE DEVELOPMENT, AND LONG-TERM ENGAGEMENT IN STEM.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,981,805

Program Service Revenue $87,419

Investment Income $42

Other Revenue $0

TOTAL REVENUE $2,069,266

Expense Breakdown

Grants Paid $0

Salaries & Benefits $908,747

Fundraising Expenses $185,392

Program Expenses $1,410,130

Other Expenses $985,576

TOTAL EXPENSES $1,894,323

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,069,266	$1,273,272	+0.6%
Expenses	$1,894,323	$1,475,055	+0.3%
Net Income	$174,943	$-201,783	-1.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$119,100

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JUDY LUBIN	CHAIR	1.00	Officer Director	$0	$0	$0
BRYAN HUNT	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
RENEE SCHOENBERG	SECRETARY	1.00	Officer	$0	$0	$0
NICOLE WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
SARAH HOUBERG	DIRECTOR	1.00	Director	$0	$0	$0
NARASIMHA RAJU NAGUBHAI	DIRECTOR	1.00	Director	$0	$0	$0
DEBORAH WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
HENRY CRAAN	DIRECTOR	1.00	Director	$0	$0	$0
KATHERINE ACLES	DIRECTOR	1.00	Director	$0	$0	$0
BRIGITTE BOKEMEIER	DIRECTOR	1.00	Director	$0	$0	$0
NATASHA SMITH-WALKER	EXECUTIVE DI	40.00	Director	$119,100	$0	$119,100

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$2,069,266	$1,894,323	$523,374	$174,943
2023	$1,273,272	$1,475,055	$396,681	$-201,783
2023	$1,273,272	$1,475,055	$396,681	$-201,783
2022	$1,420,429	$1,284,249	$396,534	$136,180
2021	$1,457,126	$1,512,974	$496,596	$-55,848
2020	$969,150	$823,365	$402,219	$145,785
2019	$743,524	$734,874	$245,528	$8,650
2018	$706,746	$670,290	$269,712	$36,456