2025-05-13T17:20:59-05:00 2024-06-30 363963131 MANN WEITZ & ASSOCIATES LLC 570 LAKE COOK ROAD SUITE 330 DEERFIELD IL 60015 990 2023-07-01 364117530 THE CHICAGO SCHOLARS FOUNDATION CHIC 3127843300 247 S STATE STREET 700 CHICAGO IL 60604 JEFFERY BECKHAM JR CEO 3127843300 2025-05-13 1 1 MARCY STEINDLER P00573131 8472673400 2023 2025-03-06 01:10:19Z CHICAGO SCHOLARS JEFFERY BECKHAM JR 247 S STATE STREET 700 CHICAGO IL 60604 8046167 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. 32 30 125 934 0 0 6511236 6093127 399394 313982 93768 122326 -147177 -16673 6857221 6512762 551047 249669 0 0 5129309 5088453 0 0 1115577 2163706 2231932 7844062 7570054 -986841 -1057292 10424336 11072062 1487854 1695162 8936482 9376900 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. 0 0 5117861 249669 313982 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 6,000 CHICAGO SCHOLARS ARE IN OR HAVE COMPLETED THE PROGRAM. 88% OF OUR SCHOLARS AND ALUMS COME FROM LOW-INCOME HOUSEHOLDS. 82% ARE FIRST GENERATION COLLEGE STUDENTS. OUR SCHOLARS HAVE COME FROM ALL 77 CHICAGO COMMUNITY AREAS. HISTORICALLY, 96% OF SCHOLARS MATRICULATE TO COLLEGE IN THE FALL FOLLOWING THEIR HIGH SCHOOL GRADUATION, AND 76% EARN THEIR DEGREES WITHIN SIX YEARS. OVERALL THE SCHOLARS ATTENDED OR GRADUATED FROM MORE THAN 500 COLLEGES AND UNIVERSITIES WORLDWIDE. 713787 IN MAY 2024, CHICAGO SCHOLARS TRANSITIONED ITS SINGLE MEMBER LIMITED LIABILITY COMPANY, REACH PATHWAYS, LLC (REACH) TO A MULTI-MEMBER LOW-PROFIT LIMITED LIABILITY COMPANY (L3C), 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. 5831648 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 23 0 1 125 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 32 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X X RACHAEL CARBONE 3127843300 247 SOUTH STATE STREET SUITE 700 CHICAGO IL 60604 BROOKE MCKEAN PRESIDENT 32.00 8.00 X X 173176 0 18694 JEFFERY BECKHAM JR CEO 32.00 8.00 X X 210654 0 10028 PAULA DANILIUC DIRECTOR 3.00 X 0 0 0 WENDY FRIEDMAN DIRECTOR 3.00 X 0 0 0 REGINALD HILL DIRECTOR 3.00 X 0 0 0 KRIS CAREY CHAIR 3.00 X X 0 0 0 DAN HOFFENKAMP DIRECTOR 3.00 X 0 0 0 KOURTNEY GIBSON DIRECTOR 3.00 X 0 0 0 GIRISH KASHYAP DIRECTOR 3.00 X 0 0 0 GREG KRANIAS DIRECTOR 3.00 X 0 0 0 KATHERINE MANN CHAIR, DEVELOPMENT 3.00 X 0 0 0 JOEY LANSING TREASURER 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 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 COUNCI 3.00 X 0 0 0 MANNY SANCHEZ DIRECTOR - FOUNDERS COUNCI 3.00 X 0 0 0 SUZY KAHN WEINBERG DIRECTOR 3.00 X X 0 0 0 REX SESSIONS DIRECTOR 3.00 X 0 0 0 SUZANNE SHIER SECRETARY, 3.00 X X 0 0 0 BRIAN SIMS DIRECTOR 3.00 X 0 0 0 KATHRYN THOMAS DIRECTOR 3.00 X 0 0 0 CARL TANNENBAUM DIRECTOR 3.00 X 0 0 0 NATE ULERY VICE CHAIR 3.00 X X 0 0 0 DV WILLIAMS DIRECTOR 3.00 X 0 0 0 KRISTIN WOLF DIRECTOR 3.00 X 0 0 0 MARK CASSATA 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 JESSE SLOVENEC DIRECTOR 3.00 X 0 0 0 RACHAEL CARBONE CHIEF DEVELOPMENT & OPERATIONS OFFICER 40.00 X 166093 0 3705 TAMARA POPE VP OF PROGRAMS 40.00 X 134405 0 16759 DERRICK FLEMING JR MANAGING DIRECTOR,STRATEGI 40.00 X 103737 0 5258 788065 0 54444 5 0 1 0 0 408726 39964 5644437 6093127 PROGRAM SERVICE FEES 541900 313982 313982 313982 126786 126786 1406903 1411363 -4460 -4460 -4460 87515 408726 122042 -34527 -34527 MISCELLANEOUS REVENUE 900099 17854 17854 17854 6512762 331836 0 87799 249669 249669 612263 318822 134964 158477 3691326 3152798 49667 488861 43652 42562 7760 -6670 381434 248669 74585 58180 359778 273516 28654 57608 39336 9375 29961 158721 2546 156175 8762 8762 332002 230304 54274 47424 98695 53404 1475 43816 112974 37935 41353 33686 332729 313967 -29950 48712 395558 289630 44798 61130 147886 89319 23524 35043 166249 132517 21714 12018 40014 29011 3014 7989 FACILITIES RENTAL 212341 209842 2499 EVENT CATERING 147438 147438 EVENT PROMOTION 62546 62546 COMMUNICATIONS 4582 324 4258 -27901 -27901 7570054 5831648 622829 1115577 1695898 2468672 1434562 1558026 2737830 2166462 89957 24176 226618 101012 2386139 1867833 580818 518306 2946421 3155913 712232 1079495 10424336 11072062 331306 333123 187798 77015 219266 256868 749484 1028156 1487854 1695162 X 715238 527801 8221244 7839099 1010000 8936482 9376900 10424336 11072062 X -1057292 487710 1010000 X 0 1 X 1 0 X 3880724 5718560 6564446 6511236 6093127 28768093 3880724 5718560 6564446 6511236 6093127 28768093 6919230 21848863 108377 93101 65918 95522 126786 489704 217311 33868 1103884 61672 105369 1522104 30779901 1245922 0.70980 0.71460 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2019 AMOUNT: $ 19,599. 2021 AMOUNT: $ 18,418. 2022 AMOUNT: $ 2,397. 2023 AMOUNT: $ 17,854. SPECIAL EVENT REVENUE - 2019 AMOUNT: $ 197,712. 2020 AMOUNT: $ 33,868. 2021 AMOUNT: $ 1,085,466. 2022 AMOUNT: $ 59,275. 2023 AMOUNT: $ 87,515. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 4380983 592025 515000 4458008 4319655 411328 350000 4380983 4782471 -312816 150000 4319655 3790519 1141952 150000 4782471 3699669 90850 3790519 0.67300 0.32700 1 0 1368955 1030725 338230 267919 267919 0 749265 569189 180076 518306 SECURITY DEPOSIT 78845 OPERATING RIGHT OF USE ASSET 969887 DEFERRED COMPENSATION INVESTMENTS 30763 1079495 DEFERRED COMPENSATION OBLIGATION 30763 OPERATING LEASE LIABILITY 997393 1028156 X 7206059 487710 214349 702059 6504000 8762 8762 6512762 7775641 214349 214349 7561292 8762 8762 7570054 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 2023 AND FEBRUARY 2024) AND SUBSEQUENT PAYMENT OF SCHOLARSHIPS (PAID IN SEPTEMBER 2023 AND IN AUGUST 2024) ARE RECORDED AS A PASS-THROUGH AGENCY TRANSACTION (RATHER THAN A CONTRIBUTION WHEN FUNDS REC'D 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. PART V, LINE 4: DONOR RESTRICTED AMOUNTS OF THE ENDOWMENT ARE AVAILABLE FOR USE WITHIN ONE YEAR FOR GENERAL PURPOSES INCLUDE THE ESTIMATED PAYMENT OF $215,000 FROM THE ENDOWMENT FUND PER THE SPENDING POLICY IN AUGUST, 2023. DURING THE YEAR ENDED JUNE 30, 2024, AS PERMITTED BY THE ENDOWMENT AGREEMENT AND BOARD APPROVAL, THE ORGANIZATION'S BOARD OF DIRECTORS APPROVED AN ADDITIONAL $300,000 PAYMENT FROM THE ENDOWMENT FUND. 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, 2024, THE ORGANIZATION HAD NO UNCERTAIN INCOME TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ONSITE 285524 228574 56950 16994 13672 16815 SWING 210717 180152 30565 12201 12678 49682 496241 408726 87515 29195 26350 66497 122042 -34527 1 SCHOLARSHIP AWARDS 195 249669 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. 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 210654 0 0 0 0 0 4066 0 5962 0 220682 0 0 0 BROOKE MCKEAN PRESIDENT 173176 0 0 0 0 0 3633 0 15061 0 191870 0 0 0 RACHAEL CARBONE CHIEF DEVELOPMENT & OPERATIONS OFFIC 166093 0 0 0 0 0 2701 0 1004 0 169798 0 0 0 TAMARA POPE VP OF PROGRAMS 134405 0 0 0 0 0 1698 0 15061 0 151164 0 0 0 PART I, LINE 4B JEFFERY BECKHAM - $12,000 CONTRIBUTED 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. FORM 990, PART XI, LINE 9: CAPITAL CONTRIBUTION TO REACH PATHWAYS (DISREGARDED ENTITY) 1,010,000. REACH PATHWAYS LLC 247 S STATE STREET SUITE 700 CHICAGO IL 60604 920611285 EXPANDING ACCESS TO THE MORE UNDER-RESOUCED STUDENTS THROUGH TECHNOLOGY IL 86601 312431 THE CHICAGO SCHOLARS FOUNDATION