The funding for Project Sherwood began with the closure of another program called Project Lincoln at the Hood Laboratory. As the number of people working on the projects grew, so did the budget. Under Strauss the program was reorganized, and its funding and staffing increased dramatically. From early 1954 to 1955, the number of people working on Project Sherwood grew from 45 to 110. By the next year, that number had doubled. The original budget from the shut down of Project Lincoln was $1 million.  The breakdown of the year budget from 1951 to 1957 can be seen in the table below. At its peak, Project Sherwood had a budget of $23 million per year and retained more than 500 scientists.