Chicago Scholars Foundation

Organization Overview

Chicago Scholars Foundation, operating under the name Chicago Scholars, is located in Chicago, IL. The organization was established in 1997. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 06/2021, Chicago Scholars employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Scholars 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, Chicago Scholars generated $6.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $5.3m during the year ending 06/2021. While expenses have increased by 8.8% per year over the past 6 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

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.

Describe the Organization's Program Activity:

Part 3 - Line 4a

CHICAGO SCHOLARS OFFERS AN INNOVATIVE SEVEN-YEAR PROGRAM LASTING FROM THE SENIOR YEAR OF HIGH SCHOOL THROUGH THE SENIOR YEAR OF COLLEGE AND ENDING WITH TWO YEARS OF LEADERSHIP DEVELOPMENT - THAT HELPS ACADEMICALLY AMBITIOUS AND TALENTED FIRST GENERATION AND UNDERSERVED YOUTH GRADUATE FROM THE COLLEGE OF THEIR CHOICE WHILE PROVIDING EMPLOYERS WITH A QUALITY, DIVERSE AND COLLEGE-EDUCATED WORKFORCE. EACH YEAR CHICAGO SCHOLARS WORKS TO IMPROVE ITS PROGRAMS, SERVICES AND PARTNERSHIPS. TO DATE, MORE THAN 5,200 CHICAG SCHOLARS ARE IN OR HAVE COMPLETED THE PROGRAM. 85% OF THE CLASS OF 2026 ARE LOW-INCOME AND 75% ARE FIRST GENERATION COLLEGE STUDENTS REPRESENTING 106 CHICAGO HIGH SCHOOLS. 95% OF THE CLASS OF 2025 HAS INDICATED WHERE THEY PLAN TO ENROLL IN FALL 2021. HISTORICALLY 95% OF SCHOLARS MATRICULATE ON-TIME, AND 93% OF SCHOLARS PERSIST INTO THEIR SECOND YEAR OF COLLEGE AND 80% EARN THEIR DEGREES WITHIN 6 YEARS. OVERALL THE SCHOLARS HAVE ATTENDED OR GRADUATED FROM MORE THAN 550 COLLEGES AND UNIVERSITIES WORLDWIDE.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$286,769
Related organizations$0
Government grants $553,899
All other contributions, gifts, grants, and similar amounts not included above$4,877,892
Noncash contributions included in lines 1a–1f $4,492
Total Revenue from Contributions, Gifts, Grants & Similar$5,718,560
Total Program Service Revenue$105,505
Investment income $93,101
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $183,657
Net Income from Fundraising Events -$21,468
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $6,079,355

Grants Recieved

Over the last fiscal year, we have identified 10 grants that Chicago Scholars Foundation has recieved totaling $609,663.

Awarding OrganizationAmount
A Better Chicago

Chicago, IL

PURPOSE: Community Development

$250,000
Robert R Mccormick Foundation

Chicago, IL

PURPOSE: GENERAL OPERATING SUPPORT

$190,000
Invest For Kids Inc

Chicago, IL

PURPOSE: To aid their exempt purpose

$54,000
Cleveland Avenue Foundation For Education

Chicago, IL

PURPOSE: ANNIVERSARY CELEBRATION

$25,000
Wellington Management Foundation

Boston, MA

PURPOSE: See Part IV

$25,000
Pure Inc

Bentonville, AR

PURPOSE: GENERAL SUPPORT

$23,750
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$3,790,519
Earnings$1,141,952
Other Expense$150,000
Ending Balance$4,782,471

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