Big Shoulders Fund
- Assets
- $126.0m
- Revenue
- $62.9m
- Investments
- $43.3m
- Employees
- 59
- Location
- Chicago, IL
- Founding
- 03/1987
- Data as of
- 06/2022
- EIN
- 36-3490557
Organization Overview
Big Shoulders Fund is located in Chicago, IL. The organization was established in 1987. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2022, Big Shoulders Fund employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Big Shoulders Fund 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 06/2022, Big Shoulders Fund generated $62.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.2% each year . All expenses for the organization totaled $52.6m during the year ending 06/2022. While expenses have increased by 15.2% per year over the past 7 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 2018, Big Shoulders Fund has awarded 476 individual grants totaling $63,246,158. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
WE PROVIDE SUPPORT TO HIGH NEED SCHOOLS WHICH PROVIDE A QUALITY, VALUES-BASED EDUCATION FOR CHICAGO'S CHILDREN. IN 2020, BIG SHOULDERS FUND'S PROGRAMMING WAS EXTENDED TO THE NORTHWEST INDIANA REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT SCHOLARSHIP PROGRAMS: ADMINISTERED OVER 83 DISTINCT SCHOLARSHIP PROGRAMS THAT INCLUDE MENTORING, ENRICHMENT AND OTHER SUPPORT ACTIVITIES. 5,589 SCHOLARSHIPS WERE AWARDED TO 5,403 STUDENTS AT 150 ELEMENTARY AND HIGH SCHOOLS TO ENABLE THEM TO ATTEND NON-PUBLIC SCHOOLS.
SCHOOL OPERATIONS: DISTRIBUTED OPERATING AND CAPITAL GRANTS TO MULTIPLE SCHOOLS IN AN EFFORT TO PREVENT SCHOOL CLOSURES; ALSO ASSISTED SCHOOLS IN IMPROVING MARKETING/RECRUITING, BUILDING NEW EXTERNAL FUNDING SOURCES, IMPROVING SCHOOL BUSINESS OPERATIONS, ETC.
ACADEMIC ENRICHMENT AND LEADERSHIP DEVELOPMENT: BIG SHOULDERS ADMINISTERS OVER 25 ONGOING PROGRAMS IN 92 SCHOOLS INVOLVING OVER 600 TEACHERS AND ADMINISTRATORS TO IMPROVE INSTRUCTION AND LEARNING THROUGH LEADERSHIP AND PROFESSIONAL DEVELOPMENT, PROFESSIONAL LEARNING COMMUNITIES AND ACCESS TO HIGH QUALITY CURRICULA WITH FOCUS ON MATH, SCIENCE, CIVICS, AND LITERACY. PROVIDE A VARIETY OF OTHER NEEDED CAPITAL AND PROGRAMMATIC SUPPORT TO ENSURE A SAFE, EFFECTIVE LEARNING ENVIRONMENT FOR NEARLY 26,000 STUDENTS THROUGH ONGOING ENRICHMENT PROGRAMS INCLUDING A SCIENCE AND LEADERSHIP CAMP, AFTERSCHOOL PROGRAMS, SUMMER PROGRAMS, AND OTHER OPPORTUNITIES FOR STUDENTS.
OTHER PROGRAM SERVICES: GENERAL ACADEMIC ENRICHMENT ACTIVITIES FOR STUDENTS, SUCH AS OUTDOOR EDUCATION, LEARNING ABOUT INVESTMENTS AND THE STOCK MARKET. SUPPORT FOR SCHOOLS HOLDING FUND-RAISING EVENTS. SUPPORTING VOLUNTEER SCHOOL CLEANUP AND MAINTENANCE ACTIVITIES. GRANTS TO SCHOOLS AS DESIGNATED BY DONORS - AGENCY (PASS-THROUGH) TRANSACTIONS. IN ADDITION, BIG SHOULDERS FUND PROVIDES SUPPORT TO STUDENTS, TEACHERS, AND ADMINISTRATORS AT CATHOLIC SCHOOLS PRIMARILY SERVING LOW-INCOME STUDENTS IN NORTHWEST INDIANA THROUGH A RESTRICTED GRANT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Executive Committee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ziemke Consulting Llc Prof Development For Schools | 6/29/22 | $259,864 |
Uchicago Stem Education Prof Development For Schools | 6/29/22 | $234,290 |
Kirk Ziemke Prof Development For Schools | 6/29/22 | $176,906 |
Nqc Literacy Llc Prof Development For Schools | 6/29/22 | $156,628 |
Crowe Llp Professional Services | 6/29/22 | $105,874 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $11,446 |
| Membership dues | $0 |
| Fundraising events | $1,331,473 |
| Related organizations | $0 |
| Government grants | $862,721 |
| All other contributions, gifts, grants, and similar amounts not included above | $69,814,102 |
| Noncash contributions included in lines 1a–1f | $2,402,411 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $72,019,742 |
| Total Program Service Revenue | $0 |
| Investment income | $598,541 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$9,838,495 |
| Net Income from Fundraising Events | $41,495 |
| Net Income from Gaming Activities | $62,600 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $62,883,883 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,027,050 |
| Grants and other assistance to domestic individuals. | $28,676,685 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,564,513 |
| Compensation of current officers, directors, key employees. | $383,473 |
| Compensation to disqualified persons | $51,426 |
| Other salaries and wages | $2,984,736 |
| Pension plan accruals and contributions | $84,500 |
| Other employee benefits | $294,422 |
| Payroll taxes | $300,768 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $55,981 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $50,000 |
| Fees for services: Other | $1,498,434 |
| Advertising and promotion | $133,443 |
| Office expenses | $374,634 |
| Information technology | $256,583 |
| Royalties | $0 |
| Occupancy | $203,031 |
| Travel | $291,177 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,961 |
| Insurance | $31,360 |
| All other expenses | $0 |
| Total functional expenses | $52,614,506 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,292,586 |
| Savings and temporary cash investments | $35,746,228 |
| Pledges and grants receivable | $27,226,748 |
| 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 | $50,576 |
| Net Land, buildings, and equipment | $49,395 |
| Investments—publicly traded securities | $18,300,122 |
| Investments—other securities | $43,317,281 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,000 |
| Total assets | $125,993,936 |
| Accounts payable and accrued expenses | $851,932 |
| Grants payable | $9,231,330 |
| Deferred revenue | $230,055 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $8,795,374 |
| 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 | $19,108,691 |
| Net assets without donor restrictions | $29,799,633 |
| Net assets with donor restrictions | $77,085,612 |
| 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 | $125,993,936 |
Grants Awarded
Over the last fiscal year, Big Shoulders Fund has awarded $7,676,542 in support to 70 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: AE OP DDG SD | $609,034 |
EPIPHANY SCHOOL PURPOSE: AE LA OP SM PD | $483,934 |
Chicago, IL PURPOSE: AE PD OP PP DDG SD | $481,972 |
ST ANGELA SCHOOL PURPOSE: STEM AS CG OP DDG SM | $404,726 |
ST NICHOLAS OF TOLENTINE SCHOOL PURPOSE: AE STEM LA PD OP DDG SM | $353,692 |
VISITATION SCHOOL PURPOSE: AE STEM LA CG OP PP DDG ED | $349,247 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Big Shoulders Fund has recieved totaling $37,375.
| Awarding Organization | Amount |
|---|---|
Bruce And Deborah Duncan Foundation Naples, FL PURPOSE: TO ASSIST SCHOOLS IN IMPROVING THEIR FINANCIAL SUSTAINABILITY, INNOVATING ACADEMIC PROGRAMS, EQUIPPING TEACHERS AND LEADERS, AND PROVIDING CRUCIAL SCHOLARSHIPS TO FAMILIES | $25,000 |
John M Leonard Family Foundationinc Wellington, FL PURPOSE: UNRESTRICTED | $6,375 |
Simons Family Foundation Glenview, IL PURPOSE: EDUCATION | $6,000 |
Endowment Analysis
| Beg. Balance | $40,698,957 |
| Earnings | -$5,532,938 |
| Admin Expense | $50,000 |
| Net Contributions | $188,261 |
| Other Expense | $1,201,117 |
| Grants | $652,915 |
| Ending Balance | $33,450,248 |
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 |