Cpa Endowment Fund Of Illinois
- Assets
- $5.8m
- Revenue
- $817.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 05/1999
- Data as of
- 03/2022
- EIN
- 36-4261924
Organization Overview
Cpa Endowment Fund Of Illinois is located in Chicago, IL. The organization was established in 1999. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Cpa Endowment Fund Of Illinois 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 03/2022, Cpa Endowment Fund Of Illinois generated $817.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $398.4k during the year ending 03/2022. While expenses have increased by 5.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SERVE THE PUBLIC BY ENCOURAGING ACCOUNTING AS A CAREER & PROVIDING SCHOLARSHIPS TO COLLEGE STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS: FOR HIGH-ACHIEVING ACCOUNTING STUDENTS AT ILLINOIS UNIVERSITIES WHO DEMONSTRATE A COMMITMENT TO BECOMING A CPA. SCHOLARSHIPS ARE PRIMARILY AWARDED TO STUDENTS IN THEIR FOURTH AND FIFTH YEAR OF STUDY, AS THE FIFTH YEAR CAN BE A SIGNIFICANT HURDLE FOR BRIGHT AND MOTIVATED YOUNG PEOPLE STRIVING TO JOIN THE CPA PROFESSION. CERTAIN SCHOLARSHIPS ARE DESIGNATED FOR MINORITY AND WOMEN STUDENTS TO INCREASE DIVERSITY IN THE PROFESSION AND SUPPORT FUTURE WOMEN LEADERS. CPA EXAM AWARD: FOR MANY ACCOUNTING STUDENTS AND NEW GRADUATES, THE COST OF THE CPA EXAMINATION CAN BE AN OBSTACLE IN THEIR JOURNEY TO BECOME CPAS. THIS FINANCIAL AWARD REIMBURSES QUALIFIED CANDIDATES FOR THE NASBA FEE.
STUDENT AMBASSADORS: FUND INNOVATIVE OUTREACH PROGRAM THROUGH WHICH ACCOUNTING STUDENTS ON MULTIPLE ILLINOIS CAMPUSES REACH OUT TO THEIR PEERS AND HIGH SCHOOL STUDENTS TO INTEREST THEM IN PURSUING THE CPA. AMBASSADORS HOLD INFORMATION SESSIONS ABOUT THE CPA EXAM AND CAREER OPTIONS FOR CPAS, PROMOTE SCHOLARSHIP OPPORTUNITIES, AND NURTURE PERSONAL AND PROFESSIONAL SUPPORT NETWORKS AMONG FUTURE CPAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Howard Blumstein Director - President | OfficerTrustee | 1 | $0 |
Jason Parish Director-Vice President | OfficerTrustee | 1 | $0 |
Kimberley Waite Director-Treasurer | OfficerTrustee | 1 | $0 |
Martrice Caldwell Director-Secretary | OfficerTrustee | 1 | $0 |
Todd Shapiro President/ceo | Officer | 2 | $0 |
Jennifer Schultz COO & CFO | Officer | 2 | $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 | $449,857 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $449,857 |
| Total Program Service Revenue | $0 |
| Investment income | $262,230 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $105,510 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $817,597 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $226,473 |
| 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 | $94,475 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,718 |
| Payroll taxes | $2,413 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,586 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $13,846 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $21 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $715 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,236 |
| All other expenses | $0 |
| Total functional expenses | $398,376 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $375,615 |
| Savings and temporary cash investments | $41,763 |
| Pledges and grants receivable | $9,805 |
| 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 | $545 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,416,621 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,844,349 |
| Accounts payable and accrued expenses | $10,396 |
| 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 | $10,396 |
| Net assets without donor restrictions | $948,524 |
| Net assets with donor restrictions | $4,885,429 |
| 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 | $5,844,349 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Cpa Endowment Fund Of Illinois has recieved totaling $91,005.
| Awarding Organization | Amount |
|---|---|
Travis Foundation New York, NY PURPOSE: SCHOLARSHIPS | $64,500 |
Bkd Foundation Springfield, MO PURPOSE: General Purpose | $10,000 |
American Institute Of Certified Public Accountants Durham, NC PURPOSE: CONTRIBUTION | $10,000 |
Wipfli Foundation Inc Wausau, WI PURPOSE: GENERAL FUNDING | $4,000 |
Alverin M Cornell Foundation Northbrook, IL PURPOSE: GENERAL CHARITABLE PURPOSES | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $4,773,691 |
| Earnings | $17,892 |
| Admin Expense | $73,867 |
| Net Contributions | $256,557 |
| Other Expense | $25,658 |
| Grants | $146,636 |
| Ending Balance | $4,801,979 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Equity Fund Inc Chicago, IL | $118,912,735 | $59,533,345 |
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
National Merit Scholarship Corporation Evanston, IL | $183,825,978 | $50,191,294 |
Evans Scholars Foundation Glenview, IL | $101,873,087 | $62,566,812 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Cardinal Services Inc Of Indiana Warsaw, IN | $28,675,162 | $26,373,889 |
Future Leaders Of Americafoundation Inc Chicago, IL | $0 | $13,517,008 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Ray And Kay Eckstein Charitable Trust Paducah, KY | $358,796,277 | $128,951,866 |
Professional Convention Management Association Chicago, IL | $13,503,434 | $11,522,188 |
Sigma Chi Foundation Evanston, IL | $40,441,719 | $12,690,646 |