Chicago Cred Inc
- Assets
- $46.8m
- Revenue
- $57.0m
- Investments
- $7.6m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 02/2017
- Data as of
- 12/2023
- EIN
- 81-3130448
Organization Overview
Chicago Cred Inc is located in Chicago, IL. The organization was established in 2017. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Cred 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 12/2023, Chicago Cred Inc generated $57.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 49.2% each year . All expenses for the organization totaled $33.4m during the year ending 12/2023. While expenses have increased by 39.0% 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, Chicago Cred Inc has awarded 174 individual grants totaling $47,368,864. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFE STABILIZATION - PROVIDE HOLISTIC APPROACH TO REDUCE GUN VIOLENCE, WORK IN COMMUNITIES MOST IMPACTED BY CRISIS, PROVIDE RESOURCES FOR STRATEGIC VIOLENCE REDUCTION AND DEVELOP POLICY SOLUTIONS.
JOB READINESS - PROVIDE JOB SKILLS AND OTHER JOB-READINESS TRAINING TO AT-RISK YOUNG MEN IN CHICAGO WHO ARE OUT OF WORK AND OUT OF SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arne Duncan President | 60 | $0 | |
Laurene Powell Jobs Secretary/treasurer | 1 | $0 | |
John W Rogers Jr Director | 1 | $0 | |
Andrew Crown Director | 1 | $0 | |
Dr Selwyn Rogers Director | 1 | $0 | |
Jalon Arthur Director Of Strategi | 40 | $189,454 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Marcia L Hale (Dba Mlh Strategies Hale Strategies) | 12/30/23 | $138,321 |
Rudd Resources Llc | 12/30/23 | $131,333 |
Community Counselling Service Co Llc | 12/30/23 | $125,000 |
Jones Day | 12/30/23 | $199,678 |
Roswood Family Advisors Llp | 12/30/23 | $140,178 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $56,776,198 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $214,015 |
| Total Revenue | $56,990,213 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $4,039,123 |
| Pension plans, employee benefits | $657,556 |
| Interest | $315,159 |
| Taxes | $307,508 |
| Depreciation | $58,471 |
| Occupancy | $979,252 |
| Travel, conferences, and meetings | $885,050 |
| Printing and publications | $25,631 |
| Other expenses | $13,220,385 |
| Total operating and administrative expenses | $23,229,032 |
| Contributions, gifts, grants paid | $10,141,178 |
| Total expenses and disbursements | $33,370,210 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,587,767 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $20,221,287 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $445,735 |
| Net Investments - land, buildings, equipment | $138,997 |
| Investments—mortgage loans | $0 |
| Investments—other | $7,636,443 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,729,224 |
| Total assets | $46,759,453 |
| Accounts payable and accrued expenses | $196,303 |
| Grants payable | $2,967,574 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $7,325,027 |
| Other liabilities | $9,656,655 |
| Total liabilities | $20,145,559 |
Grants Awarded
Over the last fiscal year, Chicago Cred Inc has awarded $10,141,178 in support to 50 organizations.
| Grant Recipient | Amount |
|---|---|
BREAKTHROUGH PURPOSE: GENERAL SUPPORT | $4,000 |
ACCLIVUS INC PURPOSE: GENERAL SUPPORT | $205,000 |
ENGLEWOOD HEROES PURPOSE: GENERAL SUPPORT | $20,000 |
ALLIANCE OF LOCAL SERVICE ORGANIZATIONS PURPOSE: GENERAL SUPPORT | $362,750 |
BLACK MEN UNITED PURPOSE: GENERAL SUPPORT | $178,750 |
CCF - CENTRAL INVESTMENT FUND PURPOSE: GENERAL SUPPORT | $3,600,000 |