Three dimensional projection systems may be single projector or multiple projector systems. These 3D projection systems may include a polarization conversion system (PCS). The PCS may be designed for relatively small throw ratios and thus, may be designed to accommodate the small throw ratios. The PCS may include a polarizing beam splitter, a first optical stack, a reflector and a second quarter wave retarder. The first optical stack may include a rotator, a polarizer, a polarization switch and a first quarter wave retarder. The PCS may receive light from a projector and the PBS may direct the light toward the first optical stack. The light may be converted to a different polarization state as it passes through the first optical stack. The converted light may then be re-directed by a reflecting element to the second quarter wave retarder. The second quarter wave retarder may convert linearly polarized light to circularly polarized light.