Civic Intelligence

Chicago Bulls Charities

990 • Fiscal year 2021 • EIN 36-3544506

Jul 01, 2020 to Jun 30, 2021 • Filed on May 05, 2022

1901 W Madison StreetChicago, IL 60612

(312) 455-4000

Siviq Scores

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

Liabilities / Assets

49th percentile

0.06x

Higher debt load relative to assets than 49% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

87th percentile

0.98x

Higher debt load relative to revenue than 87% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

1st percentile

-410%

Higher net margin than 1% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

4th percentile

-21%

Faster asset growth than 4% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

2nd percentile

-75%

Faster revenue growth than 2% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$3,919,718

Down $1,054,393 (-21%) from 2020

Net Assets

Down

$3,669,489

Down $1,030,949 (-22%) from 2020

Liabilities

Down

$250,229

Down $23,444 (-8.6%) from 2020

Revenue

Down

$254,680

Down $751,652 (-75%) from 2020

Expenses

Up

$1,299,594

Up $178,115 (+16%) from 2020

Net Income

Down

-$1,044,914

Down $929,767 (-807%) from 2020

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0-$5.0MAssets 2014: $5,778,738Liabilities 2014: $6,592,462Net Assets 2014: -$813,7242014Assets 2015: $8,197,320Liabilities 2015: $6,142,173Net Assets 2015: $2,055,1472015Assets 2016: $8,610,901Liabilities 2016: $5,714,258Net Assets 2016: $2,896,6432016Assets 2017: $10,332,439Liabilities 2017: $6,401,291Net Assets 2017: $3,931,1482017Assets 2018: $10,452,454Liabilities 2018: $5,837,748Net Assets 2018: $4,614,7062018Assets 2019: $5,562,891Liabilities 2019: $742,848Net Assets 2019: $4,820,0432019Assets 2020: $4,974,111Liabilities 2020: $273,673Net Assets 2020: $4,700,4382020Assets 2021: $3,919,718Liabilities 2021: $250,229Net Assets 2021: $3,669,4892021Assets 2022: $4,418,527Liabilities 2022: $967,708Net Assets 2022: $3,450,8192022Assets 2023: $3,759,028Liabilities 2023: $723,783Net Assets 2023: $3,035,2452023Assets 2024: $3,984,244Liabilities 2024: $355,046Net Assets 2024: $3,629,1982024Assets 2025: $4,088,085Liabilities 2025: $591,999Net Assets 2025: $3,496,0862025

Highlighted filing

2021

Assets$3,919,718
Liabilities$250,229
Net Assets$3,669,489

Operations Trend

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

$20M$10M$0-$10M-$20MRevenue 2014: $2,083,245Expenses 2014: $640,216Net Income 2014: $1,443,0292014Revenue 2015: $3,439,695Expenses 2015: $529,276Net Income 2015: $2,910,4192015Revenue 2016: $1,435,984Expenses 2016: $643,219Net Income 2016: $792,7652016Revenue 2017: $2,855,938Expenses 2017: $1,875,599Net Income 2017: $980,3392017Revenue 2018: $1,482,595Expenses 2018: $699,829Net Income 2018: $782,7662018Revenue 2019: $1,079,962Expenses 2019: $885,990Net Income 2019: $193,9722019Revenue 2020: $1,006,332Expenses 2020: $1,121,479Net Income 2020: -$115,1472020Revenue 2021: $254,680Expenses 2021: $1,299,594Net Income 2021: -$1,044,9142021Revenue 2022: $1,784,035Expenses 2022: $1,968,690Net Income 2022: -$184,6552022Revenue 2023: $2,061,078Expenses 2023: $14,773,155Net Income 2023: -$12,712,0772023Revenue 2024: $1,512,644Expenses 2024: $918,690Net Income 2024: $593,9542024Revenue 2025: $1,232,769Expenses 2025: $1,365,881Net Income 2025: -$133,1122025

Highlighted filing

2021

Revenue$254,680
Expenses$1,299,594
Net Income-$1,044,914
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 5, 2022
Return Version
2020v4.2
Gross Receipts
$1,108,069
Mission and Program Overview

Mission

Chicago Bulls charities is committed to community violence prevention through four focus areas; education, investment, health & wellness, and access to opportunities.

To make a positive impact on the lives of Chicagoans in need.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,424,777$2,166,774▼ $258,003
Land, Buildings, and Equipment, Net$1,596,711$1,466,562▼ $130,149
Accounts Receivable$834,993$223,323▼ $611,670
Cash and Non-Interest-Bearing Accounts$117,630$63,059▼ $54,571
Total Assets$4,974,111$3,919,718▼ $1,054,393
Liabilities
Grants Payable$250,000$250,000→ $0
Accounts Payable and Accrued Expenses$23,673$229▼ $23,444
Total Liabilities$273,673$250,229▼ $23,444
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,700,438$3,669,489▼ $1,030,949
Total Net Assets Fund Balance$4,700,438$3,669,489▼ $1,030,949
Total Liabilities and Net Assets / Fund Balance$4,974,111$3,919,718▼ $1,054,393

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,366,562$3,188,648$4,555,210
Land$100,000-$100,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Nancy ReinsdorfPresident
John PaxsonDirector
Michael ReinsdorfDirector
Ram PadmanabhanDirector/ Secretary
Susan GoodenowExecutive Director
Kieran KelliherTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$226,169
Program Service Revenue
$0
Investment Income
$25,424
Other Revenue
$3,087
All Other Contributions
$226,169
Change in Net Assets
$-1,044,914

Audited Revenue Reconciliation

Revenue per Audited Statements
$247,339
Revenue Not Reported on Financial Statements
$7,341
Revenue Not Reported on Form 990
$13,965
Total Revenue per Audited Statements
$261,304
Total Revenue per Form 990
$254,680
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,133,333
Other Expenses$166,261
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,133,333--$1,133,333
Depreciation Depletion-$130,149-$130,149
Fees for Services Accounting-$23,883-$23,883
Fees for Service Investment Mgmnt Fees-$7,341-$7,341
Other Expenses-$114-$114
Total Functional Expenses$1,133,333$166,261$0$1,299,594

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,299,594
Expenses per Audited Statements$1,292,253
Total Expenses per Audited Statements$1,292,253
Expenses Not Reported on Financial Statements$7,341
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
McCormick FoundationChicago, IL501(c)(3)Program Support$463,333
Boys and Girls ClubChicago, IL501(c)(3)5 year $50,000 Grant Commitment - Program Support$250,000
Push for ExcellenceChicago, IL501(c)(3)Program Support$100,000
A Better ChicagoChicago, IL501(c)(3)Program Support$50,000
NamiChicago, IL501(c)(3)Program Support$25,000
Breakthrough Urban Ministries IncChicago, IL501(c)(3)Program Support$20,000
I Grow ChicagoChicago, IL501(c)(3)Program Support$20,000
Lawndale Christian Health CenterChicago, IL501(c)(3)Program support$20,000
Role Model Movement IncChicago, IL501(c)(3)Program Support$20,000
Community HealthChicago, IL501(c)(3)Program Support$12,500
The Simple GoodChicago, IL501(c)(3)Program Support$12,500
Big Brothers Big Sisters of Metropolitan ChicagoChicago, IL501(c)(3)Program Support$10,000
Bright Star Community Outreach CorporationChicago, IL501(c)(3)Program Support$10,000
Bunker LabsChicago, IL501(c)(3)Program Support$10,000
Center on HalstedChicago, IL501(c)(3)Program Support$10,000
Gilda's ClubChicago, IL501(c)(3)Program Support$10,000
Hundred Club of Cook CountyChicago, IL501(c)(3)Program Support$10,000
Pilgrim Development CorpChicago, IL501(c)(3)Program Support$10,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$8,700
Gaming Direct Expenses$5,800
Fundraising Gross Income$706
Fundraising Direct Expenses$519
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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 A, line 2

Michael Reinsdorf and Nancy Reinsdorf have a family relationship.

Form 990, Part VI, Section A, line 6

Chicago Bulls Charities has one member; Michael Reinsdorf.

Form 990, Part VI, Section A, line 7A

The member has the right to remove directors and appoint directors.

Form 990, Part VI, Section A, line 8B

Chicago Bulls Charities does not have official committees.

Form 990, Part VI, Section B, line 11B

Form 990 is prepared by an outside accounting firm and reviewed by management and the Board of Directors.

Form 990, Part VI, Section B, line 12C

Each director and officer is required to acknowledge on an annual basis his or her having read and understood the conflicts of interest policy and his or her compliance with the policy. If a conflict of interest is identified for a director or officer, that director or officer will not participate in any discussions or deliberations regarding that matter and would abstain from voting decisions on the matter for which there is a conflict of interest

Form 990, Part VI, Section C, line 19

The governing documents and financial statements are on file with the Charitable Trust Division of Illinois Attorney General Office.

Filing and Contact Details

Filer

Filer Name
Chicago Bulls Charities
EIN
36-3544506
Phone
3124554000
Address
1901 W Madison Street, Chicago, IL 60612

Signing Officer

Name
Kieran Kelliher
Title
Treasurer
Phone
3124554000
Signed
2022-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Reinsdorf
Formed
1987
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
344

Preparer

Firm
Deloitte Tax LLP
Address
111 S Wacker Drive, Chicago, IL 60606
Preparer
Rachel Henderson-Pennington
Phone
3124861000
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

The Corporation is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. The Corporation evaluates tax positions taken in the course of preparing the Corporation's tax returns to determine whether tax positions are "more-likely-than-not" of being sustained by the applicable tax authority. Tax benefits of positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense in the current year. For the years ended June 30, 2021 and 2020, the Corporation has not identified any uncertain tax positions, and no income tax expense has been recorded in the statements of activities and changes in net assets.

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IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt01424700
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0159815
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0106021
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt01366562
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03188648
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Corporation is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. The Corporation evaluates tax positions taken in the course of preparing the Corporation's tax returns to determine whether tax positions are "more-likely-than-not" of being sustained by the applicable tax authority. Tax benefits of positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense in the current year. For the years ended June 30, 2021 and 2020, the Corporation has not identified any uncertain tax positions, and no income tax expense has been recorded in the statements of activities and changes in net assets.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleI/RecipientTable/IRCSectionDesc17501(c)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt15 year $50,000 Grant Commitment - Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6Program support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt9Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt10Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt11Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt12Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt13Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt14Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt15Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt16Program Support
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt17Program Support
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0McCormick Foundation
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Boys and Girls Club
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Push for Excellence
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3A Better Chicago
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4NAMI
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5I Grow Chicago
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6Lawndale Christian Health Center
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7Role Model Movement Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8Breakthrough Urban Ministries Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt9The Simple Good
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt10Community Health
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt11Gilda's Club
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt12Hundred Club of Cook County
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt13Pilgrim Development Corp
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt14Bright Star Community Outreach Corporation
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt15Big Brothers Big Sisters of Metropolitan Chicago
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt16Bunker Labs
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt17Center on Halsted
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IRS990ScheduleI/RecipientTable/RecipientEIN11364115144

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