Chicago Family Business Council Inc

Organization Overview

Chicago Family Business Council Inc is located in Chicago, IL. The organization was established in 2020. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Chicago Family Business Council Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Family Business Council Inc 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 06/2023, Chicago Family Business Council Inc generated $503.4k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $433.7k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

EFBC EXISTS TO HELP ENTREPRENEURS, FAMILY BUSINESSES, AND CLOSELY-HELD COMPANIES ACHIEVE THEIR BUSINESS GOALS THROUGH A UNIQUE PEER SUPPORT SYSTEM AND RELATED EDUCATIONAL PROGRAMS THAT PROVIDE GROWTH STRATEGIES FOR CHIEF EXECUTIVES, THEIR EMPLOYEES, THEIR FAMILIES AND THEIR BUSINESSES.EFBCS ROOTS DATE BACK TO 1993, WHEN LOCAL BUSINESSMAN JAMES P. LIAUTAUD APPROACHED THE UNIVERSITY OF ILLINOIS AT CHICAGO ABOUT UNDERWRITING AN ORGANIZATION DEDICATED TO FAMILY BUSINESSES. THE FAMILY BUSINESS COUNCIL (FBC) WELCOMED ITS FIRST MEMBERS IN 1994 AND OPERATED UNDER UICS COLLEGE OF BUSINESS ADMINISTRATION FOR NEARLY TWO DECADES. THE FBC NAME STILL LIVES ON AT THE COLLEGE OF BUSINESS ADMINISTRATIONS HOME, DOUGLAS HALL, WHERE FBC SPONSORED A ROOM IN HONOR OF THE ORGANIZATIONS LONG-STANDING RELATIONSHIP WITH THE UNIVERSITY.IN 2011, THE ORGANIZATION BECAME AN INDEPENDENT NONPROFIT ORGANIZATION AND CHANGED ITS NAME TO CHICAGO FAMILY BUSINESS COUNCIL. CFBC FORMED AN AFFILIATION WITH DEPAUL UNIVERSITYS

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION OPERATES TO PROMOTE EDUCATIONAL AND CHARITABLE PURPOSES FOR FAMILY, CLOSELY HELD, AND ENTREPRENEURIAL BUSINESS THROUGH ACTIVITIES WHICH INCLUDE BUT NOT LIMITED TO: EDUCATIONAL PROGRAMMING, PEER-TO-PEER FORUM GROUPS, ENCOURAGEMENT OF STUDENT SCHOLARSHIPS FOR INVOLVEMENT, RESEARCH IN THE FIELD OF FAMILY BUSINESS AND EMOTIONAL INTELLIGENCE.FORUMS - FORUMS ARE THE HEARTBEAT OF EFBC. THESE GROUPS GIVE EFBC MEMBERS A CHANCE TO SHARE THEIR BUSINESS, FAMILY AND PERSONAL EXPERIENCES WITH ONE ANOTHER IN A CONFIDENTIAL SETTING. YOUR FORUM IS A PLACE WHERE YOURE NOT EXPECTED TO HAVE ALL THE ANSWERS. INSTEAD, YOUR FORUM GIVES YOU THE OPPORTUNITY TO DRAW ON THE EXPERIENCE AND PERSPECTIVES OF FELLOW MEMBERS TO MAKE THE BEST CHOICES FOR YOU AND YOUR BUSINESS.EFBC OFFERS FORUMS FOR CEOS AND BUSINESS LEADERS, BRINGING A VARIETY OF ENTREPRENEURS TOGETHER IN INFORMAL SETTINGS. AFTER SPEAKING WITH NEW MEMBERS ABOUT THEIR GOALS, EFBC SELECTS FORUMS FOR THEM THAT BEST SUIT THEIR NEEDS. EACH FORUM IS CAPPED AT NINE MEMBERS, AND EACH PARTICIPANT COMES FROM A DIFFERENT INDUSTRY TO CREATE A DIVERSE AND RICH SET OF PERSPECTIVES WITHIN THE GROUP.MEMBERS THAT PARTICIPATE IN A FORUM COMMIT TO NINE MEETINGS A YEAR, WHICH BEGIN AT 3 P.M. AND LAST THROUGH DESSERT. PARTICIPANTS ALSO ATTEND A MANDATORY THREE-DAY, TWO-NIGHT RETREAT.PRESENTATION AND WORKSHOPS - LEARNING TOGETHER IS A KEY PART OF THE EFBC EXPERIENCE. WE OFFER A VARIETY OF EDUCATIONAL PROGRAMS THROUGHOUT THE YEAR, INCLUDING:ROOTS CURRICULUM: WE OFFER EDUCATIONAL COURSES UNDER OUR CORE ROOTS CURRICULUM OPEN TO MEMBERS AND THE GENERAL PUBLIC. COURSES ARE IN A 2-MONTH LEADERSHIP TRAINING, 8-MONTH TEAM BASED STRATEGIC PLANNING, EXECUTION AND MANAGEMENT COURSE, FAMILY BUSINESS 101, FAMILY MEETING, AND TRANSITIONAL PREPARATION ASSESSMENTS.POWERFUL SPEAKERS: EFBC REGULARLY INVITES WELL-KNOWN BUSINESS AND CULTURAL FIGURES TO SHARE THEIR INSIGHTS AT OUR SEMINARS, WHICH ARE OPEN TO MEMBERS AND THE PUBLIC. PAST PRESENTERS INCLUDE AUTHOR AND LEADERSHIP EXPERT STEPHEN R. COVEY; JPMORGAN CHASE CEO JAMIE DIMON; DIANE SWONK, CHIEF ECONOMIST AT MESIROW FINANCIAL; AND BILL RANCIC, WINNER OF THE FIRST SEASON OF THE APPRENTICE.HANDS-ON WORKSHOPS: PRACTICAL BUSINESS SKILLS ARE THE FOCUS AT OUR HANDS-ON WORKSHOPS. LED BY INDUSTRY EXPERTS, THESE COURSES OFFER USEFUL STRATEGIES YOU CAN PUT TO WORK IMMEDIATELY IN YOUR OWN BUSINESS. RECENT TOPICS INCLUDE THE ART OF NEGOTIATING, RECRUITING STRATEGIES AND A PRIMER ON THE 80/20 SALES APPROACH. THE WORKSHOPS ARE OPEN TO MEMBERS AND THE PUBLIC.EMOTIONAL INTELLIGENCE - LEARNING TO HANDLE SOCIAL INTERACTIONS AND BUILD RELATIONSHIPS EFFECTIVELY IS ESSENTIAL TO BECOMING A STRONG MANAGER AND LEADER. THATS THE IDEA BEHIND EMOTIONAL INTELLIGENCE, A CONCEPT THAT OUR MEMBERS USE TO GUIDE THEIR INTERACTIONS IN THEIR FORUMS AND IN THEIR EVERYDAY LIVES.EMOTIONAL INTELLIGENCE IS A FIELD OF PSYCHOLOGY THAT FOCUSES ON FOUR SOCIAL CHARACTERISTICS: SELF-AWARENESS, SELF-MANAGEMENT, SOCIAL AWARENESS AND RELATIONSHIP MANAGEMENT. UNLIKE IQ, WHICH IS LARGELY HEREDITARY, PEOPLE CAN IMPROVE THEIR EMOTIONAL INTELLIGENCE THROUGH TRAINING AND PRACTICE. THE BENEFITS OF IMPROVING YOUR EMOTIONAL INTELLIGENCE INCLUDE:BECOMING MORE AWARE OF YOUR SKILLS AND TALENTS AND HOW TO USE THEM EFFECTIVELYINCREASING YOUR EMPATHY AND LISTENING SKILLSLEARNING HOW TO ANALYZE YOUR OPTIONS BETTER AND MAKE THE BEST CHOICESBUILDING DEEPER, STRONGER RELATIONSHIPSBUILDING YOUR CONFIDENCE BY APPLYING WHAT YOUVE LEARNED TO YOUR LIFE SUCCESSFULLYEFBCS FORUMS PROVIDE THE FRAMEWORK THAT MEMBERS NEED TO DEVELOP THEIR EMOTIONAL INTELLIGENCE SO THEY CAN COMMUNICATE EFFECTIVELY WITH FELLOW MEMBERS, THEIR EMPLOYEES AND FAMILY MEMBERS. MEMBERS CAN ALSO PARTICIPATE IN PDEI (PEER DEVELOPMENT FOR EMOTIONAL INTELLIGENCE), A TRAINING METHODOLOGY CREATED BY EFBCS FOUNDER, JAMES LIAUTAUD. LIAUTAUD, WHO HAS CHAMPIONED THE CONCEPT OF EMOTIONAL INTELLIGENCE AND IS A CLINICAL PROFESSOR AT THE UNIVERSITY OF ILLINOIS AT CHICAGO, RUNS THE PDEI, PDT TRAINING AT THE LIAUTAUD INSTITUTE.


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Board, Officers & Key Employees

Name (title)Compensation
Elizabeth Fidanovski
Executive Dir.
$99,050
Dave Horvath
Vice President
$0
Bill Angsten
Finance Officer
$0
Neil O'donnell
Past President
$0
Patty Rioux
Director
$0
Andy Sanghani
President
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$9,101
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$5,106
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$14,207
Total Program Service Revenue$524,777
Investment income $5,546
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events -$43,435
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $503,370

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