Chicago Public Library Foundation
- Assets
- $39.0m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 13
- Location
- Chicago, IL
- Founding
- 07/1987
- Data as of
- 12/2023
- EIN
- 36-3480353
Organization Overview
Chicago Public Library Foundation is located in Chicago, IL. The organization was established in 1987. As of 12/2023, Chicago Public Library Foundation employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Public Library 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 12/2023, Chicago Public Library Foundation generated $7.0m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $5.5m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CHICAGO PUBLIC LIBRARY FOUNDATION ACCELERATES THE POTENTIAL OF OUR PUBLIC (SEE SCH O)LIBRARY BY INVESTING IN RESOURCES THAT TRANSFORM LIVES AND COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOO MANY CHICAGO CHILDREN ARE BORN INTO CIRCUMSTANCES THAT LIMIT HOW FAR THEY WILL GO IN LIFE. WHETHER THAT'S THE NEIGHBORHOOD THEY GROW IN, THE SCHOOLS THEY HAVE ACCESS TO, THE RESOURCES THEIR PARENTS HAVE, EVEN THE QUALITY OF THE AIR, OUR CITY HAS LONG BEEN DIVIDED TO THE DETRIMENT OF NOT JUST INDIVIDUALS, BUT OF OUR COLLECTIVE PROSPERITY AS CHICAGOANS. SUPPORT FROM DONORS ENSURES STUDENTS AND THEIR FAMILIES CAN ACCESS FREE HOMEWORK HELP, TOOLS FOR SUPPORTING LANGUAGE AND LITERACY DEVELOPMENT, AND YEAR-ROUND STEM CONTENT THAT HELP ENSURE ALL OUR CITY'S CHILDREN HAVE THE SUPPORT THEY NEED TO SUCCEED EARLY IN LIFE AND TO KEEP ON SUCCEEDING.
OTHER PROGRAMMATIC EXPENDITURES INCLUDE BRANCH PROGRAMS AND OTHER LIBRARY PROGRAMS THAT ARE HELD THROUGHOUT THE YEAR.
CHICAGO'S WORLD-RENOWNED ARTS AND CULTURE SECTOR FUELS TREMENDOUS CREATIVE, ECONOMIC, AND INNOVATIVE GROWTH. BUT ACCESS TO BIG IDEAS AND TOP TALENT IS OFTEN FAR OUT OF REACH FOR LOWER-INCOME MEMBERS OF OUR COMMUNITY. AS A RESULT, MANY CHICAGOANS ARE SHUT OUT FROM THE MARKETPLACE OF CREATIVITY AND THE HOLISTIC BENEFITS OF THE ARTS. OUR CITY, IN TURN, MISSES OUT ON OPPORTUNITIES TO BE ELEVATED AND ENRICHED BY THE INCLUSION OF DIVERSE NEW VOICES AND VIEWPOINTS. DONORS ACTIVATE EVERYTHING FROM MAKER SPACES TO SPECIAL COLLECTIONS PROJECTS TO DISCUSSIONS WITH THE MOST THOUGHT-PROVOKING AUTHORS OF OUR TIME. THESEOFFERINGS INVITE ALL CHICAGOANS TO EXPLORE NEW WAYS OF EXPRESSING THEMSELVES AND IMAGINING NEW POSSIBILITIES NOT ONLY FOR THEIR OWN LIVES, BUT ALSO FOR OUR CITY AND THE WORLD.
ACCORDING TO THE PEW RESEARCH CENTER, MORE THAN 40% OF LOWER-INCOME HOUSEHOLDS DON'T HAVE HOME BROADBAND SERVICES OR A TRADITIONAL COMPUTER. MANY OF THESE ADULTS AND OLDER ADULTS ALSO LACK THE SKILLS THEY NEED TO NAVIGATE OUR INCREASINGLY DIGITAL WORLD EFFECTIVELY AND SAFELY. WITHOUT THIS CRUCIAL KNOW-HOW, THOUSANDS OF CHICAGOANS ARE BLOCKED FROM ONLINE OPPORTUNITIES TO APPLY FOR JOBS, FIND EDUCATION AND HEALTH RESOURCES, PARTICIPATE IN CIVIC LIFE, AND CONNECT WITH LOVED ONES. OUR DIGITAL LITERACY AND LEARNING PROGRAMS REMOVE BARRIERS THROUGH CURATED RESOURCES, SKILLS-BUILDING SUPPORT, AND USER-FRIENDLY CHICAGO DIGITAL LEARNING MODULES ACCESSIBLE FROM ANY COMPUTER. TOGETHER, WE TRANSFORM LIVES THROUGH TECHNOLOGY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Wislow Chairman | OfficerTrustee | 5 | $0 |
David Casper Vice Chair | OfficerTrustee | 2 | $0 |
Archana Kumar Treasurer | OfficerTrustee | 2 | $0 |
Bruce Sagan Secretary | OfficerTrustee | 2 | $0 |
Cindy Pritzker Chairman Emeritus | OfficerTrustee | 1 | $0 |
Heather Alger Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,019,631 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,223,557 |
| Noncash contributions included in lines 1a–1f | $89,396 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,243,188 |
| Total Program Service Revenue | $0 |
| Investment income | $626,265 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $448,941 |
| Net Income from Fundraising Events | -$375,739 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,964,069 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $546,401 |
| Compensation of current officers, directors, key employees. | $279,171 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $541,128 |
| Pension plan accruals and contributions | $52,237 |
| Other employee benefits | $70,722 |
| Payroll taxes | $72,769 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,607 |
| Fees for services: Accounting | $40,686 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,527 |
| Fees for services: Other | $639,607 |
| Advertising and promotion | $439,295 |
| Office expenses | $130,019 |
| Information technology | $134,631 |
| Royalties | $0 |
| Occupancy | $104,739 |
| Travel | $209,605 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,120 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $11,190 |
| All other expenses | $126,499 |
| Total functional expenses | $5,500,090 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,043,363 |
| Savings and temporary cash investments | $206,073 |
| Pledges and grants receivable | $1,763,778 |
| Accounts receivable, net | $103,462 |
| 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 | $79,624 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $32,701,289 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $112,007 |
| Total assets | $39,009,596 |
| Accounts payable and accrued expenses | $443,897 |
| 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 | $115,223 |
| Total liabilities | $559,120 |
| Net assets without donor restrictions | $21,693,459 |
| Net assets with donor restrictions | $16,757,017 |
| 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 | $39,009,596 |