Chicagos Sunshine Enterprises Inc
- Assets
- $1.1m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 27
- Location
- Chicago, IL
- Founding
- 03/2019
- Data as of
- 12/2020
- EIN
- 81-4786875
Organization Overview
Chicagos Sunshine Enterprises Inc is located in Chicago, IL. The organization was established in 2019. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2020, Chicagos Sunshine Enterprises Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicagos Sunshine Enterprises 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 12/2020, Chicagos Sunshine Enterprises Inc generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 21.2% each year . All expenses for the organization totaled $1.4m during the year ending 12/2020. While expenses have increased by 18.6% per year over the past 4 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO EMPOWER LOCAL ENTREPRENEURS IN UNDER-RESOURCED COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMMUNITY BUSINESS ACADEMY (CBA) - TWELVE-SESSION (36-HOUR) COURSE IN BASIC BUSINESS PLANNING AND MANAGEMENT. INCLUDES TRAINING ON FINANCIALS, CREDIT, MARKETING, NEGOTIATIONS, LEGAL AND MORE.
BUSINESS ACCELERATOR SERVICES (BAS) - PROVIDE ONE-ON-ONE BUSINESS COACHING AND MENTORING TO DEVELOP AND IMPLEMENT STRATEGIC ACTION PLAN. SUPPLEMENTED WITH WORKSHOPS, PITCH COMPETITIONS, ACCESS TO CAPITAL, PROCUREMENT AND OFFICE OPPORTUNITIES.
THE NEXT LEVEL EXCHANGE IS A 12-MONTH, COHORT-BASED SMALL BUSINESS DEVELOPMENT PROGRAM DESIGNED TO HELP BUSINESS OWNERS BUILD THE CAPACITY OF THEIR ENTERPRISE. THE PURPOSE OF THE PROGRAM IS TO SUPPORT THE GROWTH OF OWNER-OPERATED BUSINESSES AND CREATE ECONOMIC OPPORTUNITY IN UNDERSERVED COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joel Hamernick Executive Director | OfficerTrustee | 20 | $71,875 |
Stan Barnett Treasurer | OfficerTrustee | 1 | $0 |
Andrew Follett Secretary | OfficerTrustee | 1 | $0 |
Adrian Talbott President | OfficerTrustee | 1 | $0 |
Lamell Mcmorris Trustee | Trustee | 1 | $0 |
James Perry Trustee | Trustee | 1 | $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 | $1,783,428 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,783,428 |
| Total Program Service Revenue | $39,414 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,828,917 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $63,946 |
| Grants and other assistance to domestic individuals. | $33,620 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $71,875 |
| Compensation of current officers, directors, key employees. | $8,704 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $646,286 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $21,340 |
| Payroll taxes | $56,578 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,869 |
| Advertising and promotion | $7,883 |
| Office expenses | $0 |
| Information technology | $27,072 |
| Royalties | $0 |
| Occupancy | $75,240 |
| Travel | $1,697 |
| 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 | $0 |
| Insurance | $2,548 |
| All other expenses | $35,243 |
| Total functional expenses | $1,403,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $667,984 |
| Savings and temporary cash investments | $251,658 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $137,144 |
| 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 | $3,171 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $958 |
| Total assets | $1,060,915 |
| Accounts payable and accrued expenses | $61,172 |
| 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 | $104,500 |
| Total liabilities | $165,672 |
| Net assets without donor restrictions | $729,143 |
| Net assets with donor restrictions | $166,100 |
| 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 | $1,060,915 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Chicagos Sunshine Enterprises Inc has recieved totaling $512,000.
| Awarding Organization | Amount |
|---|---|
Citi Foundation New York, NY PURPOSE: SMALL BUSINESS TECHNICAL ASSISTANCE INITIATIVE | $500,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $11,500 |
Allstate Foundation Northbrook, IL PURPOSE: EMPLOYEE HELPING HANDS GRANT | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Brighton Park Neighborhood Council Chicago, IL | $4,048,275 | $8,262,492 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |