Foundation For Culinary Arts
- Assets
- $4.6m
- Revenue
- -$611.0k
- Investments
- $0.0
- Employees
- 1
- Location
- Chicago, IL
- Founding
- 02/1952
- Data as of
- 06/2022
- EIN
- 36-2170142
Organization Overview
Foundation For Culinary Arts is located in Chicago, IL. The organization was established in 1952. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Culinary Arts is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION INSPIRES AND EMPOWERS SOCIALLY AND ECONOMICALLY DISADVANTAGED STUDENTS.THROUGH EDUCATIONAL PROGRAMMING AND CAREER ADVANCEMENT OPPORTUNITIES IN THE CULINARY INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF FINANCIAL SUPPORT TO STUDENTS ENROLLED IN ACCREDITED CULINARY/HOSPITALITY PROGRAM ALONG WITH FINANCIAL SUPPORT FOR CULINARY CAMPS FOR CHICAGO PUBLIC SCHOOL HIGH SCHOOL STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine DE Orio Executive Director | Officer | 40 | $181,388 |
Zubin Kammula President | OfficerTrustee | 5 | $0 |
J Gorman Cook Vice President | OfficerTrustee | 5 | $0 |
Bradford Graham Secretary | OfficerTrustee | 5 | $0 |
Allen Kutchins Treasurer | OfficerTrustee | 5 | $0 |
Bernard Dobroski Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,781 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,781 |
| Total Program Service Revenue | $0 |
| Investment income | $102,592 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $46,716 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$610,958 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $117,308 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,079 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $181,388 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $35,722 |
| Fees for services: Other | $157,917 |
| Advertising and promotion | $0 |
| Office expenses | $11,934 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $157 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,670 |
| All other expenses | $0 |
| Total functional expenses | $583,066 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,204 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $32,798 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,601,741 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,646,743 |
| Accounts payable and accrued expenses | $12,258 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $12,258 |
| Net assets without donor restrictions | $4,116,595 |
| Net assets with donor restrictions | $517,890 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,646,743 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Foundation For Culinary Arts has recieved totaling $10,005.
| Awarding Organization | Amount |
|---|---|
Million Dollar Round Table Foundation Park Ridge, IL PURPOSE: SOCIAL SERVICE | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $488,875 |
| Grants | $7,500 |
| Ending Balance | $481,375 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Big Shoulders Fund Chicago, IL | $125,993,936 | $62,883,883 |
Voluntary Interdistrict Choice Corporation Saint Louis, MO | $12,736,595 | $40,180,054 |
Northern School District Tr Nsdt Ashland, WI | $7,100,055 | $19,700,380 |
Plumbers & Steamfitters H & W Trust Iowa State Bank Ttee Des Moines, IA | $75,894,378 | $21,812,028 |
Kentucky Educational Development Corporation Ashland, KY | $6,070,827 | $11,298,796 |
Cristo Rey Network Chicago, IL | $14,102,009 | $11,695,592 |
City Colleges Of Chicago Foundation Chicago, IL | $22,678,364 | $14,327,610 |
Big Ten Academic Alliance Champaign, IL | $13,766,841 | $9,203,675 |
P E O Foundation Des Moines, IA | $140,487,423 | $16,863,604 |
Kidsmart Saint Louis, MO | $4,061,844 | $8,307,759 |
Northwest Foundation Inc Maryville, MO | $55,922,802 | $14,720,589 |
Holy Family Ministries Chicago, IL | $16,241,007 | $8,503,495 |