PROJECT EXPLORATION
Mission Statement
Project Exploration is a nationally recognized nonprofit science education and youth development organization whose mission is to make science and engineering accessible to traditionally overlooked communities, particularly minority youth and girls. Since 1999, Project Exploration has engaged over 1,500 Chicago Public School students in hands-on experiences with real science and real scientists, and has provided critical leadership in the national conversation about out-of-school time STEM education. Our student-centered approach promotes long-term relationships between students and scientists, and empowers youth to become active partners in their education by encouraging them to study science-related topics that they find interesting. There are no fees or academic prerequisites, and we strive to recruit students who are inquisitive and ambitious, but are not necessarily “straight-A” students. Experiences in these programs build students’ self-confidence, increase their leadership, teamwork, and communication skills, and give them the tools to become thoughtful, inquisitive, and successful adults. Regardless of topic, we strive to help students believe – “Science is a community that welcomes me and values me for who I am.” Nearly 85% of Project Exploration students come from low-income families; in 2014 roughly 33% are Latino and 47% African American ; 75% are female. Most will become the first in their family to attend college.
Financial Overview — FY 2025
Compared with Peers
FY 2025| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
84.5% | 77.7% |
P10P90
|
Above median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
10.3% | 14.2% |
P10P90
|
Above median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
5.2% | 5.8% |
P10P90
|
Above median |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
-0.3 mo | 15.8 mo |
P10P90
|
Bottom quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
107.1% | 11.4% |
P10P90
|
Bottom quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
96.3% | 71.6% |
P10P90
|
Bottom quarter |
|
Revenue growth
Year over year revenue growth
|
6.8% | 7.5% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
45.2% | 5.6% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
-24.5% | 0.9% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2025 | $2.2M | $2.8M | $-61,153 | 84.5% | 26 |
| 2024 | $2.1M | $1.9M | $348K | 74.4% | 21 |
| 2023 | $1.3M | $1.5M | $163K | 76.5% | 13 |
| 2022 | $1.4M | $1.3M | $365K | 67.9% | 14 |
| 2021 | $1.5M | $1.5M | N/A | — | 14 |
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