2024-05-04T22:05:47-07:00 2023-12-31 990 2023-01-01 854072043 COLORWAVE PROJECT INC COLO 3107104559 2400C Bancroft Way Berkeley CA 947041609 John Roussel Executive Director 3107104559 2024-05-14 John Roussel 999009999 1 1 11 1 AAL2 X 2023 2023-04-26 12:10:37Z John Roussel 2400C Bancroft Way Berkeley CA 94704 621501 0 X www.thecolorwave.org X 2021 CA The Colorwave Project, Inc. dba Colorwave is organized and operated for educational purposes for underrepresented professionals in the startup and high-growth business sector. Our organization leads an eight-week leadership program to help educate, support and train underrepresented, primarily low income, first generation professionals on how America's startup and high-growth business sector works, how to attain jobs within the industry, and gain financial security through employment and entrepreneurship. 9 9 3 55 0 0 600205 621501 0 0 0 0 0 0 600205 621501 0 0 0 0 368060 400491 0 0 9135 189559 133729 557619 534220 42586 87281 83939 168989 8305 5654 75634 163335 The Colorwave Project, Inc. dba Colorwave is organized and operated for educational purposes for underrepresented professionals in the startup and high-growth business sector. Our organization leads an eight-week leadership program to help educate, support and train underrepresented, primarily low income, first generation professionals on how America's startup and high-growth business sector works, how to attain jobs within the industry, and gain financial security through employment and entrepreneurship. 0 0 481282 0 481282 As of 2023, Colorwave completed its third year of program operations. Since 2021, we have served roughly 440 individuals across 80 different cities. During 2023, we ran four different program cohorts which included two cycles of our flagship fellowship program, a founders circle program for early-stage underrepresented founders, and affiliates program for high-potential talent seeking to transition into venture-backed startup companies. On average, those who transition after our program experience a roughly $42K increase in their total compensation, often accessing stock options or other stock equity in the companies they work for. Since 2021, we estimate our economic impact in closing the wealth gap for those we serve is approximately $10 million. 0 0 0 481282 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 1 3 1 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X John Roussel 3107104559 2400C Bancroft Way Berkeley CA 947041609 Lorenzo Castillo Director of Program/Community 40 0 X 125000 0 14106 John Roussel Executive Director 40 0 X 118333 0 8304 Sasha Mack Director of Partnerships 40 0 X 100000 0 8741 Leandrew Robinson President 2 0 X X 0 0 0 JoeyZwillinger Vice President 2 0 X X 0 0 0 Josh Fisher Treasurer 2 0 X X 0 0 0 David Stark Secretary 2 0 X X 0 0 0 Sadasia McCutchen Board Member 2 0 X 0 0 0 Jose Lopez Board Member 2 0 X 0 0 0 Lena McAfee Young Board Member 2 0 X 0 0 0 Jason Norman Board Member 2 0 X 0 0 0 Sydney Thomas Board Member 2 0 X 0 0 0 343333 0 31151 3 0 0 0 0 0 0 0 0 0 621501 0 621501 0 0 0 0 0 0 0 621501 0 0 0 118334 94667 23667 225000 225000 11696 10526 1170 18312 16481 1831 27149 24434 2715 6035 6035 2430 2430 13125 13125 4895 4895 885 885 0 3332 3332 10523 9471 1052 Direct Program Expenses 68839 68839 0 0 General Admin Expenses 23665 14287 243 9135 534220 481282 43803 9135 75592 145222 7000 23000 1347 767 83939 168989 8305 5191 463 8305 5654 X 0 0 0 0 75634 163335 75634 163335 83939 168989 87281 0 0 0 420 0 X 1 X 0 1 0 X 199635 601320 621501 1422456 0 0 0 0 0 0 0 0 0 0 0 0 0 0 199635 601320 621501 1422456 0 0 0 0 0 0 0 0 0 0 0 0 1422456 0 0 199635 601320 621501 1422456 1 1 0 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED Payroll deduction-401K 463 463 Form 990, Part VI, Section B, Line 11b Form 990, Part VI, Section B, Line 11b - A draft of the Form 990 was prepared and presented to the Board of Directors via email. The Executive Director then reviewed the Form 990 in detail with a designated representative of the Board of Directors. After review by the Board of Directors, the Form 990 was approved for filing. Form 990, Part VI, Section B, Line 12c Form 990, Part VI, Section B, Line 12c - The Colorwave Project regularly enforces and monitors its conflict of interest policy with a signed annual statement from the members of their board of directors and officers. Form 990, Part VI, Section B, Line 15 Form 990, Part VI, Section B, Line 15 - The salary for the Executive Director is reviewed annually and determined by the Executive Committee of the Board of Directors during the annual budget process. Prior to the completion of the budget, the Executive Committee meets to review the following factors: performance reviews, independently produced comparative salary data of the San Francisco Bay Area, the depth and breadth of the Executive Director's responsibilities, the size and complexity of the organization. Based on these factors, the Executive Committee determines whether the current salary is appropriate and what merit increase, if any, is warranted. Form 990, Part VI, Section C, Line 19 Form 990, Part VI, Section C, Line 19 - The Colorwave Project makes its governing documents, conflict of interest policy, and financial statements available for public inspection upon request.