Civic Intelligence

The Phoenix Pact Fund

990 • Fiscal year 2024 • EIN 31-1705330

Jul 01, 2023 to Jun 30, 2024 • Filed on Jan 20, 2025

Organization ProfileN/A
PO Box 2752Chicago, IL 60690

(312) 878-3764

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

51st percentile

0.18x

Higher debt load relative to assets than 51% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

5.19x

Higher debt load relative to revenue than 95% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

1st percentile

-273%

Higher net margin than 1% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

39th percentile

$155,828

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 26.0% of source-year revenue.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

28th percentile

-1.1%

Faster asset growth than 28% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

6th percentile

-44%

Faster revenue growth than 6% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets51st percentile

Assets

Down

$17,511,095

Down $191,226 (-1.1%) from 2023

Net Assets

Down

$14,400,549

Down $192,413 (-1.3%) from 2023

Liabilities

Up

$3,110,546

Up $1,187 (+0.0%) from 2023

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin1st percentile

Revenue

Down

$598,993

Down $463,648 (-44%) from 2023

Expenses

Up

$2,231,564

Up $467,204 (+26%) from 2023

Net Income

Down

-$1,632,571

Down $930,852 (-133%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth28th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2013: $1,444,007Liabilities 2013: $124,430Net Assets 2013: $1,319,5772013Assets 2016: $16,567,719Liabilities 2016: $3,397,489Net Assets 2016: $13,170,2302016Assets 2017: $16,681,350Liabilities 2017: $3,140,192Net Assets 2017: $13,541,1582017Assets 2018: $16,412,711Liabilities 2018: $3,837,734Net Assets 2018: $12,574,9772018Assets 2019: $15,530,721Liabilities 2019: $3,822,339Net Assets 2019: $11,708,3822019Assets 2020: $17,085,786Liabilities 2020: $4,303,408Net Assets 2020: $12,782,3782020Assets 2021: $22,425,207Liabilities 2021: $3,925,063Net Assets 2021: $18,500,1442021Assets 2022: $18,427,201Liabilities 2022: $3,709,227Net Assets 2022: $14,717,9742022Assets 2023: $17,702,321Liabilities 2023: $3,109,359Net Assets 2023: $14,592,9622023Assets 2024: $17,511,095Liabilities 2024: $3,110,546Net Assets 2024: $14,400,5492024

Highlighted filing

2024

Assets$17,511,095
Liabilities$3,110,546
Net Assets$14,400,549
Open 2024 Filing

Operations Trend

Revenue Growth6th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MRevenue 2013: $158,129Expenses 2013: $77,170Net Income 2013: $80,9592013Revenue 2016: $15,312,080Expenses 2016: $3,902,993Net Income 2016: $11,409,0872016Revenue 2017: $290,555Expenses 2017: $681,120Net Income 2017: -$390,5652017Revenue 2018: $661,263Expenses 2018: $1,923,275Net Income 2018: -$1,262,0122018Revenue 2019: $256,244Expenses 2019: $1,852,598Net Income 2019: -$1,596,3542019Revenue 2020: $4,209,169Expenses 2020: $2,649,203Net Income 2020: $1,559,9662020Revenue 2021: $4,533,654Expenses 2021: $1,525,307Net Income 2021: $3,008,3472021Revenue 2022: $1,476,076Expenses 2022: $2,249,664Net Income 2022: -$773,5882022Revenue 2023: $1,062,641Expenses 2023: $1,764,360Net Income 2023: -$701,7192023Revenue 2024: $598,993Expenses 2024: $2,231,564Net Income 2024: -$1,632,5712024

Highlighted filing

2024

Revenue$598,993
Expenses$2,231,564
Net Income-$1,632,571
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 20, 2025
Return Version
2023v6.0
Gross Receipts
$4,907,839
Mission and Program Overview

Mission

To grant scholarships to individuals in financial need.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$14,367,159$13,002,032▼ $1,365,127
Pledges and Grants Receivable$2,806,194$2,595,724▼ $210,470
Savings and Temporary Cash Investments$516,171$1,912,958▲ $1,396,787
Prepaid Expenses and Deferred Charges$12,797$381▼ $12,416
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$17,702,321$17,511,095▼ $191,226
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$3,109,359$3,110,546▲ $1,187
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$3,109,359$3,110,546▲ $1,187
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$14,592,962$11,804,824▼ $2,788,138
Net Assets With Donor Restrictions$0$2,595,725▲ $2,595,725
Total Net Assets Fund Balance$14,592,962$14,400,549▼ $192,413
Total Liabilities and Net Assets / Fund Balance$17,702,321$17,511,095▼ $191,226

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$4,759,448--
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christopher KellyExecutive DirectorFT$117,540$38,288$155,828

Board Members and Trustees

NameTitle
Evan WesterfieldPresident
Ceily MooreDirector
David PetersonDirector
Jennifer SteansDirector
Jessica TaylorDirector
Nicole HowardDirector
John TimmerTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$28,500
Program Service Revenue
$0
Investment Income
$570,493
Other Revenue
$0
All Other Contributions
$28,500
Change in Net Assets
$-1,632,571

Audited Revenue Reconciliation

Revenue per Audited Statements
$550,693
Revenue Not Reported on Financial Statements
$48,300
Revenue Not Reported on Form 990
$1,440,158
Other Revenue Adjustments
$16
Total Revenue per Audited Statements
$1,990,851
Total Revenue per Form 990
$598,993
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,891,370
Salaries, Compensation, and Employee Benefits$340,194
Total Fundraising Expense$21,804
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$306,174$17,010$17,010$340,194
Other Expenses$233,135$2,414$2,414$233,135
Fees for Services Other$28,642$46,499$1,591$76,732
Travel$62,608--$62,608
Office Expenses$1,838$18,028$788$20,654
Insurance-$5,607-$5,607
All Other Expenses$14$1$1$16
Total Functional Expenses$2,120,201$89,559$21,804$2,231,564

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,231,564
Expenses per Audited Statements$2,183,264
Total Expenses per Audited Statements$2,183,264
Expenses Not Reported on Financial Statements$48,300
Other Expense Adjustments$16
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION B, LINE 11:

“An electronic version of the final version of the return is emailed to the board members before the return is actually filed. Board members are encouraged to review the return before it is filed.”

FORM 990, PART VI, SECTION B, LINE 12C:

“The officers and directors complete a potential conflict report which is updated regularly.”

FORM 990, PART VI, SECTION B, LINE 12C:

“Board reviews potential conflicts and policy on a regular basis.”

FORM 990, PARV VI, SECTION C, LINE 19:

“The organization has its governing documents available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Phoenix Pact Fund
EIN
31-1705330
In Care Of
% CHRISTOPHER C KELLY
Phone
3128783764
Address
PO Box 2752, Chicago, IL 60690

Signing Officer

Name
Christopher Kelly
Title
Executive Director
Phone
3128783764
Signed
2025-01-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher Kelly
Formed
2000
Legal Domicile
Il
Voting Board Members
8
Independent Board Members
7
Employees
2

Preparer

Firm
Miller Cooper & Co Ltd
Address
1751 Lake Cook Road Suite 400, Deerfield, IL 60015
Preparer
Robin Bartolo
Phone
8472055000
Supplemental Narrative

Financial Statement Notes

Form 990, Schedule D, Part XI, Line 4B

“Foreign tax expense reported on form 990, part ix, line 24d.”

Form 990, Schedule D, Part XII, Line 4B

“Foreign tax expense reported on form 990, part ix, line 24d.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OfficeExpensesGrp/TotalAmt020654
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IRS990/Organization501c3Ind0X
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IRS990/OtherExpensesGrp/Desc1EVENTS AND DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2INVESTMENT FEES
IRS990/OtherExpensesGrp/Desc3SCHOLAR INCIDENTAL SUPPPORT
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02414
IRS990/OtherExpensesGrp/ProgramServicesAmt01436620
IRS990/OtherExpensesGrp/ProgramServicesAmt17714
IRS990/OtherExpensesGrp/ProgramServicesAmt243456
IRS990/OtherExpensesGrp/ProgramServicesAmt3233135
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IRS990/OtherExpensesGrp/TotalAmt17714
IRS990/OtherExpensesGrp/TotalAmt248284
IRS990/OtherExpensesGrp/TotalAmt3233135
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IRS990/OtherRevenueTotalAmt00
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0306174
IRS990/OtherSalariesAndWagesGrp/TotalAmt0340194
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt02806194
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt02595724
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt012797
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0381
IRS990/PrincipalOfficerNm0CHRISTOPHER KELLY
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt038500
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01024141
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01614358
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-701719
IRS990/PYSalariesCompEmpBnftPaidAmt0150002
IRS990/PYTotalExpensesAmt01764360
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01062641
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-1632571
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0516171
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01912958
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt028500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt038500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt038125
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt04296962
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt03279840
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt07681927
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0570493
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0235918
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0819706
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0239030
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0332165
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02197312
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt030
IRS990ScheduleA/OtherIncome170Grp/TotalAmt030
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.22639
IRS990ScheduleA/PublicSupportPY170Pct00.24201
IRS990ScheduleA/PublicSupportTotal170Amt02236551
IRS990ScheduleA/SubstantialContributorsTotAmt05445376
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt038500
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt03279840
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt07681927
IRS990ScheduleA/TotalSupportAmt09879269
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/InvestmentExpensesNotIncldAmt048284
IRS990ScheduleD/NetUnrealizedGainsInvstAmt01440158
IRS990ScheduleD/OtherExpensesNotIncludedAmt016
IRS990ScheduleD/OtherRevenuesNotIncludedAmt016
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt03303231
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt14937102
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt22251
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt34759448
IRS990ScheduleD/OtherSecuritiesGrp/Desc0COMMON STOCKS
IRS990ScheduleD/OtherSecuritiesGrp/Desc1EXCHANGE TRADED FUNDS
IRS990ScheduleD/OtherSecuritiesGrp/Desc2MUTUAL FUNDS
IRS990ScheduleD/OtherSecuritiesGrp/Desc3FIXED INCOME
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3F
IRS990ScheduleD/RevenueNotReportedAmt01440158
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt048300
IRS990ScheduleD/RevenueSubtotalAmt0550693
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FOREIGN TAX EXPENSE REPORTED ON FORM 990, PART IX, LINE 24D.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FOREIGN TAX EXPENSE REPORTED ON FORM 990, PART IX, LINE 24D.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE D, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, SCHEDULE D, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueSecuritiesAmt013002032
IRS990ScheduleD/TotalExpensesPerForm990Amt02231564
IRS990ScheduleD/TotalRevenuePerForm990Amt0598993
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01990851
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02183264
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,511,095
Liabilities
$3,110,546
Net assets
$14,400,549
Revenue
$598,993
Expenses
$2,231,564
Net income
-$1,632,571
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$17.5$3.11$14.4$0.60$2.23$1.63
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.7$3.11$14.6$1.06$1.76$0.70
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.4$3.71$14.7$1.48$2.25$0.77
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.4$3.93$18.5$4.53$1.53$3.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.1$4.30$12.8$4.21$2.65$1.56
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.5$3.82$11.7$0.26$1.85$1.60
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.4$3.84$12.6$0.66$1.92$1.26
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.7$3.14$13.5$0.29$0.68$0.39
2016Detailed filing. Detailed filing data is available for this year.$16.6$3.40$13.2$15.3$3.90$11.4
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.44$0.12$1.32$0.16$0.08$0.08