2024-03-19T01:08:21-05:00 2023-06-30 363963131 MANN WEITZ & ASSOCIATES LLC 570 LAKE COOK ROAD SUITE 330 DEERFIELD IL 60015 990 2022-07-01 364117530 THE CHICAGO SCHOLARS FOUNDATION CHIC 3127843300 247 S STATE STREET 700 CHICAGO IL 60604 JEFFERY BECKHAM JR CEO 3127843300 2024-03-19 1 JEFFERY BECKHAM JR 999009999 0 MARCY STEINDLER P00573131 8472673400 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X CHICAGO SCHOLARS JEFFERY BECKHAM JR 247 S STATE STREET 700 CHICAGO IL 60604 7888831 0 X WWW.CHICAGOSCHOLARS.ORG X 1996 IL WE UNIQUELY SELECT, TRAIN, & MENTOR ACADEMICALLY AMBITIOUS STUDENTS FROM UNDER-RESOURCED COMMUNITIES TO COMPLETE COLLEGE & BECOME THE NEXT GENERATION OF LEADERS WHO WILL TRANSFORM THEIR NEIGHBORHOODS & OUR CITY. 37 35 125 857 0 0 6564446 6511236 321352 399394 384070 93768 -118450 -147177 7151418 6857221 364060 551047 0 0 4088178 5129309 109000 0 966447 1174047 2163706 5735285 7844062 1416133 -986841 10050328 10424336 609351 1487854 9440977 8936482 X CHICAGO SCHOLARS IS TRANSFORMING THE LEADERSHIP LANDSCAPE OF OUR CITY BY RESOLVING THE FUNDAMENTAL BARRIERS TO SUCCESS FOR ACADEMICALLY DRIVEN, FIRST GENERATION COLLEGE STUDENTS FROM UNDER-RESOURCED COMMUNITIES. THROUGH COLLEGE COUNSELING, MENTORING, AND BY PROVIDING A SUPPORTIVE COMMUNITY TO OUR SCHOLARS THROUGH EACH PHASE OF OUR PROGRAM: COLLEGE ACCESS: LAUNCH, COLLEGE PERSISTENCE: LIFT AND COLLEGE TO CAREERS: LEAD, WE ENSURE THAT THEY REALIZE THEIR FULL POTENTIAL AS STUDENTS AND LEADERS. 1 0 5320521 551047 399394 CHICAGO SCHOLARS OFFERS AN INNOVATIVE SEVEN-YEAR PROGRAM LASTING FROM THE SUMMER BEFORE THEIR SENIOR YEAR OF HIGH SCHOOL THROUGH THE SENIOR YEAR OF COLLEGE AND ENDING WITH TWO YEARS OF LEADERSHIP DEVELOPMENT. IN THEIR FIRST YEAR OF PROGRAMMING, SCHOLARS WORK CLOSELY WITH COLLEGE COUNSELORS, MENTORS AND PEERS TO APPLY TO COLLEGES AND UNIVERSITIES THAT ARE THEIR RIGHT MATCH, FIT AND FINANCIAL FIT. OUR HOLISTIC APPROACH STRIVES FOR OUR SCHOLARS TO FIND THE COLLEGES AND UNIVERSITIES WHERE THEY CAN BUILD COMMUNITY AND FOSTER BELONGING. CHICAGO SCHOLARS PROVIDES SCHOLARS ENROLLED IN COLLEGE UNIQUE SCHOLARSHIP OPPORTUNITIES, CONTINUED MENTORSHIP AND A COMMUNITY OF PEOPLE WHO CARE, SO THAT OUR SCHOLARS PERSIST THROUGH COLLEGE, THRIVE IN THEIR STUDIES AND GRADUATE WITH DEGREES THAT LEAD TO MEANINGFUL CAREERS, HIGHER SALARIES AND ECONOMIC MOBILITY. CHICAGO SCHOLARS' CAREER PROGRAMMING HELPS OUR SCHOLARS GAIN ACCESS TO THE KEY INTERNSHIPS, OPPORTUNITIES, AND NETWORKS THAT WILL LEAD THEM TO THEIR FIRST JOBS AND LAUNCH LIFE-CHANGING CAREERS. EACH YEAR CHICAGO SCHOLARS WORKS TO IMPROVE ITS PROGRAMS, SERVICES AND PARTNERSHIPS. TO DATE, MORE THAN 5,000 CHICAGO SCHOLARS ARE IN OR HAVE COMPLETED THE PROGRAM. 94% OF OUR SCHOLARS AND ALUMS ARE PEOPLE OF COLOR; 88% ARE LOW-INCOME AND 82% ARE FIRST GENERATION COLLEGE STUDENTS REPRESENTING ALL 77 CHICAGO COMMUNITY AREAS. HISTORICALLY 96% OF SCHOLARS MATRICULATE TO COLLEGE IN THE FALL FOLLOWING THEIR HIGH SCHOOL GRADUATION ON-TIME AND 78% EARN THEIR DEGREES WITHIN SIX YEARS. OVERALL THE SCHOLARS ATTENDED OR GRADUATED FROM MORE THAN 635 COLLEGES AND UNIVERSITIES WORLDWIDE. 448199 IN OCTOBER 2022, CHICAGO SCHOLARS FORMED A SINGLE MEMBER LIMITED LIABILITY COMPANY, REACH PATHWAYS, LLC (REACH) FOR WHICH THE FOUNDATION IS THE SOLE MEMBER, WITH THE INTENTION OF EXPANDING ACCESS TO THE FOUNDATION'S PROVEN CURRICULUM TO MORE UNDER-RESOURCED STUDENTS THROUGH TECHNOLOGY AND GENERATING NEW POTENTIAL REVENUE OPPORTUNITIES TO DIVERSITY THE FOUNDATION'S REVENUESREACH IS THE COLLEGE AND CAREER PATHWAY FOR UNDER-RESOURCED STUDENTS IN AN INNOVATIVE TECHNOLOGY PLATFORM. REACH CONNECTS STUDENTS WITH COLLEGES AND COMPANIES. 5768720 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 19 0 1 125 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 37 35 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X X SARAH CLAPPER 3127843300 247 SOUTH STATE STREET SUITE 700 CHICAGO IL 60604 BROOKE MCKEAN PRESIDENT 32.00 8.00 X X 172290 0 17995 JEFFERY BECKHAM JR CEO 32.00 8.00 X X 206230 0 10216 PAULA DANILIUC DIRECTOR 3.00 X 0 0 0 WENDY FRIEDMAN DIRECTOR 3.00 X 0 0 0 LEE GORDON FOUNDERS COUNCIL 3.00 X 0 0 0 REGINALD HILL DIRECTOR 3.00 X 0 0 0 KRIS CAREY VICE CHAIR 3.00 X X 0 0 0 DAN HOFFENKAMP DIRECTOR 3.00 X 0 0 0 DANIEL HOULIHAN DIRECTOR 3.00 X 0 0 0 KOURTNEY GIBSON CHAIR 3.00 X X 0 0 0 GIRISH KASHYAP DIRECTOR 3.00 X 0 0 0 GREG KRANIAS DIRECTOR 3.00 X 0 0 0 GERALD LEWIS DIRECTOR 3.00 X 0 0 0 SUZY KAHN WEINBERG CHAIR PROGRAMS 3.00 X 0 0 0 KATHERINE MANN DIRECTOR 3.00 X 0 0 0 JOEY LANSING TREASURER & CHAIR, FINANCE 3.00 X X 0 0 0 GARY CAPLAN FOUNDERS COUNCIL 3.00 X 0 0 0 MARIA LIN CHAIR, HUMAN RESOURCES 3.00 X 0 0 0 NISAINI REXACH DIRECTOR 3.00 X 0 0 0 WILL RICHIE DIRECTOR 3.00 X 0 0 0 TIM SCHWERTFEGER DIRECTOR - FOUNDERS COUNCIL 3.00 X 0 0 0 MANNY SANCHEZ DIRECTOR - FOUNDERS COUNCIL 3.00 X 0 0 0 RICK BLAIR DIRECTOR 3.00 X 0 0 0 REX SESSIONS DIRECTOR 3.00 X 0 0 0 SUZANNE SHIER SECRETARY, CHAIR DEV COMMI 3.00 X X 0 0 0 BRIAN SIMS DIRECTOR 3.00 X 0 0 0 KATHRYN THOMAS PAST CHAIR 3.00 X X 0 0 0 CARL TANNENBAUM DIRECTOR 3.00 X 0 0 0 NATE ULERY DIRECTOR 3.00 X 0 0 0 DV WILLIAMS DIRECTOR 3.00 X 0 0 0 KRISTIN WOLF DIRECTOR 3.00 X 0 0 0 ISAIAH MOORE DIRECTOR 3.00 X 0 0 0 MARK CASSATA DIRECTOR 3.00 X 0 0 0 BRIDGET GERAGHTY DIRECTOR 3.00 X 0 0 0 OLIVER BEVAN DIRECTOR 3.00 X 0 0 0 RAJ BHATIA DIRECTOR 3.00 X 0 0 0 NYERERE BILLUPS DIRECTOR 3.00 X 0 0 0 RACHAEL CARBONE CHIEF DEVELOPMENT & OPERATIONS OFFICER 40.00 X 163269 0 2926 TAMARA POPE VP OF PROGRAMS 40.00 X 133598 0 17593 KHADEEJAH LASUC-LEWIS VP-TALENT/LEARNING/EQUITY/ 40.00 X 129329 0 18194 DERRICK FLEMING JR MANAGING DIRECTOR,STRATEGIC ENGAGEMENT 40.00 X 102140 0 6382 906856 0 73306 6 0 1 0 MORPHEUS CONSULTANCY LLC 190 S LASALLE ST SUITE 430 CHICAGO IL 60603 BUSINESS DEVELOPMENT 130000 1 414833 81281 6015122 6511236 PROGRAM SERVICE FEES 541900 399394 399394 399394 95522 95522 821007 822761 -1754 -1754 -1754 59275 414833 208849 -149574 -149574 MISCELLANEOUS REVENUE 900099 2397 2397 2397 6857221 401791 0 -55806 551047 551047 1021143 480183 332202 208758 3361781 2671523 271684 418574 32541 11064 15620 5857 379619 229158 96073 54388 334225 227214 56014 50997 39897 39897 86694 12000 74694 9863 9863 402146 328530 23888 49728 187769 102024 76 85669 113533 36351 49974 27208 286688 220943 22608 43137 365571 254992 36478 74101 112544 90943 4528 17073 158646 111823 35472 11351 33050 20348 6936 5766 FACILITIES RENTAL 250734 248922 312 1500 EVENT CATERING 127072 127072 BAD DEBT EXPENSE 72473 72473 COMMUNICATIONS 5918 4686 1232 -88892 -88892 7844062 5768720 1108895 966447 1705849 1695898 1554085 1434562 3014978 2737830 141133 89957 110266 226618 2282402 1701584 650711 580818 2765570 2946421 107736 712232 10050328 10424336 261452 331306 135190 187798 177312 219266 35397 749484 609351 1487854 X 1181762 715238 8259215 8221244 9440977 8936482 10050328 10424336 -986841 332346 150000 0 X 0 1 X 1 0 X 3848891 3880724 5718560 6564446 6511236 26523857 3848891 3880724 5718560 6564446 6511236 26523857 5832876 20690981 118466 108377 93101 65918 95522 481384 177665 217311 33868 1103884 417230 1949958 28955199 980859 0.71460 0.64870 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2018 AMOUNT: $ -155. 2019 AMOUNT: $ 19,599. 2021 AMOUNT: $ 18,418. 2022 AMOUNT: $ 2,397. SPECIAL EVENT REVENUE - 2018 AMOUNT: $ 177,820. 2019 AMOUNT: $ 197,712. 2020 AMOUNT: $ 33,868. 2021 AMOUNT: $ 1,085,466. 2022 AMOUNT: $ 414,833. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 4319655 411328 350000 4380983 4782471 -312816 150000 4319655 3790519 1141952 150000 4782471 3699669 90850 3790519 3535224 164445 3699669 0.68500 0.31500 1 0 1368955 919140 449815 267919 265068 2851 645528 517376 128152 580818 SECURITY DEPOSIT 78845 OPERATING RIGHT OF USE ASSET 604047 DEFERRED COMPENSATION INVESTMENTS 29340 712232 DEFERRED COMPENSATION OBLIGATION 29340 REFUNDABLE ADVANCE 100000 OPERATING LEASE LIABILITY 620144 749484 X 7386667 332346 118070 88893 539309 6847358 9863 9863 6857221 8041162 118070 88893 206963 7834199 9863 9863 7844062 PART IV, LINE 2B: DESCRIPTION FOR ARRANGEMENT RELATED TO AGENCY TRANSACTIONS - SCHEDULE D - PART IV, LINE 2B THE RECEIPT OF FUNDS FOR CHICAGO CUBS SCHOLARSHIP(MARCH 2022 AND IN FEBRUARY 2023) AND SUBSEQUENT PAYMENT OF SCHOLARSHIPS (PAID IN SEPTEMBER 2022 AND TO BE PAID IN AUGUST 2023) ARE RECORDED AS A PASS-THROUGH AGENCY TRANSACTION (RATHER THAN A CONTRIBUTION WHEN FUNDS RECEIVED AND SCHOLARSHIP EXPENSE WHEN FUNDS PAID) AS THE CHICAGO CUBS ORGANIZATION MAKES THE SELECTION OF WHICH STUDENTS WILL RECEIVE THE BENEFIT OF THESE SCHOLARHIPS. THESE SCHOLARSHIPS ARE IN ALIGNMENT WITH THE ORGANIZATION'S MISSION AND PROGRAMMING. THE RECEIPT OF FUNDS FOR BALYASNY ASSET MANAGEMENT ON BEHALF OF THEIR ATLAS SCHOLARSHIP PROGRAM (AUGUST 2022) AND SUBSEQUENT PAYMENT OF SCHOLARSHIPS OVER THE COURSE OF THE FISCAL YEAR ARE RECORDED AS A PASS-THROUGH AGENCY TRANSACTION (RATHER THAN A CONTRIBUTION WHEN FUNDS RECEIVED AND SCHOLARSHIP EXPENSE WHEN FUNDS PAID) AS BALYASNY ASSET MANAGEMENT AND ITS OTHER SCHOLARSHIP PARTNERS MAKES THE SELECTION OF WHICH STUDENTS WILL RECEIVE THE BENEFIT OF THESE SCHOLARHIPS. THESE SCHOLARSHIPS ARE IN ALIGNMENT WITH THE ORGANIZATION'S MISSION AND PROGRAMMING. THE RECEIPT OF FUNDS FOR STERLING BAY ON BEHALF OF THEIR SCHOLARSHIP PROGRAM (APRIL 2023) AND SUBSEQUENT PAYMENT OF SCHOLARSHIPS (TO BE PAID IN AUGUST 2023) ARE RECORDED AS A PASS-THROUGH AGENCY TRANSACTION (RATHER THAN A CONTRIBUTION WHEN FUNDS RECEIVED AND SCHOLARSHIP EXPENSE WHEN FUNDS PAID) AS STERLING BAY AND ITS OTHER SCHOLARSHIP PARTNERS MAKES THE SELECTION OF WHICH STUDENTS WILL RECEIVE THE BENEFIT OF THESE SCHOLARSHIPS. THESE SCHOLARSHIPS ARE IN ALIGNMENT WITH THE ORGANIZATION'S MISSION AND PROGRAMMING. PART V, LINE 4: TO FUND ANNUAL ADMINISTRATIVE COSTS PER THE ORGANIZATION'S DISTRIBUTION POLICY. PART X, LINE 2: THE FINANCIAL STATEMENT EFFECTS OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN ARE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT, BASED ON THE TECHNICAL MERITS, THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION. AS OF JUNE 30, 2023, THE ORGANIZATION HAD NO UNCERTAIN INCOME TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE INCLUDED IN FUNDRAISING IN AUDIT 88,893. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE INCLUDED IN FUNDRAISING IN AUDIT 88,893. ONSITE 296157 267447 28710 20420 22664 12609 SWING 177951 147386 30565 22220 13208 600 117127 474108 414833 59275 42640 35872 600 129736 208848 -149573 1 SCHOLARSHIP AWARDS 225 551047 PART I, LINE 2: THE ORGANIZATION PROVIDES STUDENT SCHOLARSHIPS WHICH ARE PREDETERMINED AMOUNTS PAID TO STUDENTS BASED ON A SELECTION PROCESS CONSIDERING STUDENT NEED AND ACADEMIC PERFORMANCE. THESE AMOUNTS ARE PAID DIRECTLY TO THE COLLEGES AND UNIVERSITIES FOR TUITION AND OTHER EXPENSES. IN ADDITION, REFURBISHED LAPTOPS WERE AWARDED IN ORDER TO INCREASE THE STUDENTS' ABILITY TO PERSIST AND PARTICIPATE FULLY IN THEIR COLLEGIATE EXPERIENCE. SCHOLARS HAVE TO ANSWER QUESTIONNAIRES TO SHOW ELIGIBILITY FOR THE LAPTOPS, AS WELL AS SHOW THAT THEY ARE IN GOOD ACADEMIC STANDING. THE ORGANIZATION ALSO PROVIDES STUDENT SCHOLARSHIPS FOR EDUCATIONAL AND LEADERSHIP DEVELOPMENT OPPORUNITIES SUCH AS STUDY ABROAD AND RESEARCH OPPORTUNITIES. THESE EXPENSES MAY BE PAID DIRECTLY TO THE COLLEGES AND UNIVERSITIES OR DIRECTLY TO THE STUDENTS. CERTAIN OTHER QUALIFIED EXPENSES MAY BE PAID DIRECTLY TO STUDENTS ON A REIMBURSEMENT BASIS FOR TEXTBOOKS, SCHOOL SUPPLIES, ETC. THE ORGANIZATION MONITORS THE USE OF THE GRANT FUNDS BY FOLLOWING UP WITH THE COLLEGES AND UNIVERSITIES, REVIEWING STUDENT PROGRESS REPORTS, ETC. ALL REQUESTS FOR STUDENT FUNDS DISBURSEMENT ARE REVIEWED BY APPLICABLE PROGRAM TEAM STAFF THROUGH A ROBUST APPLICATION AND APPROVAL PROCESS. X X X X 0 1 0 0 0 0 0 0 0 JEFFERY BECKHAM JR CEO 196730 0 9500 0 0 0 3834 0 6382 0 216446 0 0 0 BROOKE MCKEAN PRESIDENT 164050 0 8240 0 0 0 3383 0 14612 0 190285 0 0 0 RACHAEL CARBONE CHIEF DEVELOPMENT & OPERATIONS OFFIC 157269 0 6000 0 0 0 0 0 804 0 164073 0 0 0 TAMARA POPE VP OF PROGRAMS 128398 0 5200 0 0 0 1424 0 16169 0 151191 0 0 0 PART I, LINE 4B JEFFERY BECKHAM - $12,000 CONTRIBUTED FORM 990, PART III, LINE 2 IN OCTOBER 2022, CHICAGO SCHOLARS FORMED A SINGLE MEMBER LIMITED LIABILITY COMPANY, REACH PATHWAYS, LLC (REACH) FOR WHICH THE FOUNDATION IS THE SOLE MEMBER, WITH THE INTENTION OF EXPANDING ACCESS TO THE FOUNDATION'S PROVEN CURRICULUM TO MORE UNDER-RESOURCED STUDENTS THROUGH TECHNOLOGY AND GENERATING NEW POTENTIAL REVENUE OPPORTUNITIES TO DIVERSIFY THE FOUNDATION'S REVENUES. REACH IS THE COLLEGE AND CAREER PATHWAY FOR UNDER-RESOURCED STUDENTS IN AN INNOVATIVE TECHNOLOGY PLATFORM. REACH CONNECTS STUDENTS WITH COLLEGES AND COMPANIES. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS AND IS REVIEWED BY THE CEO, COO, TREASURER AND FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION UPDATES ITS CONFLICT OF INTEREST POLICY THROUGH SURVEY/STATEMENT PROVIDED TO AND RETURNED BY OFFICERS, DIRECTORS AND KEY EMPLOYEES AT HIRE. ANY DISCLOSURES ARE FOLLOWED UP ON A ROUTINE BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS OF DETERMINING COMPENSATION FOR THE CEO AND EXECUTIVE TEAM UTILIZES A BENCHMARKING STUDY OF PEER GROUPS. THE EXECUTIVE COMMITTEE OVERSEES THE PROCESS, AND THE BOARD OF DIRECTORS APPROVES THE OVERALL ANNUAL COMPENSATION AMOUNT. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY OF THE FOUNDATION ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE ON THE FOUNDATION'S WEBSITE. REACH PATHWAYS LLC 247 S STATE STREET SUITE 700 CHICAGO IL 60604 920611285 EXPANDING ACCESS TO THE MORE UNDER-RESOUCED STUDENTS THROUGH TECHNOLOGY IL 251500 -326206 THE CHICAGO SCHOLARS FOUNDATION