City Colleges Of Chicago Foundation
- Assets
- $22.7m
- Revenue
- $14.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 03/1982
- Data as of
- 06/2021
- EIN
- 36-3157624
Organization Overview
City Colleges Of Chicago Foundation is located in Chicago, IL. The organization was established in 1982. 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. City Colleges Of Chicago Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, City Colleges Of Chicago Foundation generated $14.3m in total revenue. All expenses for the organization totaled $9.0m during the year ending 06/2021. While expenses have increased by 41.5% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, City Colleges Of Chicago Foundation has awarded 22 individual grants totaling $11,754,556. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE GRANTS FOR SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR EDUCATIONAL PURPOSES TO ASSIST IN DEVELOPING AND AUGMENTING THE RESOURCES AND CARRYING OUT THE EDUCATIONAL FUNCTIONS OF THE CITY COLLEGES OF CHICAGO, ESTABLISHED AND OPERATED BY THE BOARD OF TRUSTEES OF COMMUNITY COLLEGE DISTRICT NO. 508, COOK COUNTY, STATE OF ILLINOIS, TO THE END THERE MAY BE PROVIDED IN THE COLLEGE'S COMMUNITY BROADER EDUCATIONAL OPPORTUNITIES FOR AND SERVICE TO THE STUDENT AND ALUMNI OF THE COLLEGE AND THE CITIZENS OF THIS STATE AND NATION. THE FOUNDATION PROVIDES SCHOLARSHIPS AND SKILLED UPGRADES TO OVER 850 STUDENTS.
THE FOUNDATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR EDUCATIONAL PURPOSES TO ASSIST IN DEVELOPING AND AUGMENTING THE RESOURCES AND CARRYING OUT THE EDUCATIONAL FUNCTIONS OF THE CITY COLLEGES OF CHICAGO, ESTABLISHED AND OPERATED BY THE BOARD OF TRUSTEES OF COMMUNITY COLLEGE DISTRICT NO. 508, COOK COUNTY, STATE OF ILLINOIS, TO THE END THERE MAY BE PROVIDED IN THE COLLEGE'S COMMUNITY BROADER EDUCATIONAL OPPORTUNITIES FOR AND SERVICE TO THE STUDENT AND ALUMNI OF THE COLLEGE AND THE CITIZENS OF THIS STATE AND NATION. THE FOUNDATION PROVIDES SCHOLARSHIPS AND SKILLED UPGRADES TO OVER 850 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Lugo Until 121820 Chancellor's Designee - Ex Officio | OfficerTrustee | 5 | $0 |
Veronica Herrero Chancellor's Designee - Ex Officio | OfficerTrustee | 1 | $0 |
Gary L Rozier Chair | OfficerTrustee | 1 | $0 |
Iris Krieg Secretary | OfficerTrustee | 1 | $0 |
Nicole Johnson-Scales Vice-Chair | OfficerTrustee | 1 | $0 |
Rhonda K Brown President | Officer | 35 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Akademos Textbook & Instr. Supplies | 6/29/20 | $114,345 |
Education First Consulting Consulting Services | 6/29/20 | $200,000 |
Akademos Textbook & Instr. Supplies | 6/29/20 | $114,345 |
Education First Consulting Consulting Services | 6/29/20 | $200,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $145,216 |
| Related organizations | $238,636 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,477,840 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,861,692 |
| Total Program Service Revenue | $0 |
| Investment income | $220,758 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,245,160 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,327,610 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,185,418 |
| Grants and other assistance to domestic individuals. | $4,463,871 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $59,143 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $64,500 |
| Advertising and promotion | $866 |
| Office expenses | $151,655 |
| Information technology | $42,838 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $22,503 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,540 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,915 |
| All other expenses | $8,996 |
| Total functional expenses | $9,012,007 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,233,929 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,572 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $15,402,863 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,678,364 |
| Accounts payable and accrued expenses | $1,183,444 |
| 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 | $1,183,444 |
| Net assets without donor restrictions | $3,401,701 |
| Net assets with donor restrictions | $18,093,219 |
| 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 | $22,678,364 |
Grants Awarded
Over the last fiscal year, City Colleges Of Chicago Foundation has awarded $7,988,058 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
CITY COLLEGES OF CHICAGO PURPOSE: Student & Program support | $3,909,029 |
CITY COLLEGES OF CHICAGO PURPOSE: Student & Program support | $3,909,029 |
Chicago, IL PURPOSE: This is part of our relationship with CPS to create the Strategic Roadmap Collaboration. The grant was written with both CPS and CCC paying salaries and creating positions out of this grant. | $50,000 |
Chicago, IL PURPOSE: This is part of our relationship with CPS to create the Strategic Roadmap Collaboration. The grant was written with both CPS and CCC paying salaries and creating positions out of this grant. | $50,000 |
Chicago, IL PURPOSE: Goldman Sachs 10,000 Small Business (GSK10KSB) referral sponsorship. | $20,000 |
Chicago, IL PURPOSE: Goldman Sachs 10,000 Small Business (GSK10KSB) referral sponsorship. | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 22 grants that City Colleges Of Chicago Foundation has recieved totaling $2,810,367.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | $750,000 |
Fulk Family Foundation Inc Chicago, IL PURPOSE: CCC STEP PROGRAM | $500,000 |
Pepsico Foundation Inc Purchase, NY PURPOSE: SCHOLARSHIP PROGRAM | $300,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $250,000 |
Circle Of Service Foundation Chicago, IL PURPOSE: EDUCATION | $150,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | $150,000 |
Endowment Analysis
| Beg. Balance | $4,150,030 |
| Earnings | $1,157,526 |
| Other Expense | $560,307 |
| Ending Balance | $4,747,249 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Middlebury Community Schools Employee Benefit Trust Middlebury, IN | $1,426,617 | $4,992,187 |
Drexel Funds Milwaukee, WI | $18,531,220 | $8,522,964 |