Civic Intelligence

Hfs Chicago Scholars

EIN 36-3922345 • 501(c)3 • Chicago, IL

Profile

Hfs chicago scholars (hfs) was created for the express purpose of supporting the educational aspiration of economically disadvantaged, but academically motivated chicago inner-city youth. Hfs grants partial scholarships to qualifying students, works with other unrelated scholarship funds and the chosen high school of the scholarship recipients to address full tuition and other school cost needs of the recipients and provides an active mentor for each recipient to help the recipient successfully achieve his or her educational goals.

1074 W Taylor Street Rm/Ste 201Chicago, IL 60607-4336

www.hfschicagoscholars.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

33rd percentile

0.01x

Higher debt load relative to assets than 33% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

38th percentile

0.03x

Higher debt load relative to revenue than 38% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

83rd percentile

36%

Higher net margin than 83% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

69th percentile

$104,750

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

82nd percentile

25%

Faster asset growth than 82% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

73rd percentile

27%

Faster revenue growth than 73% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$4,624,897

Up $933,975 (+25%) from 2023

Liabilities

Up

$48,826

Up $10,568 (+28%) from 2023

Net Assets

Up

$4,576,071

Up $923,407 (+25%) from 2023

Revenue

Up

$1,573,514

Up $334,948 (+27%) from 2023

Expenses

Down

$1,012,155

Down $18,400 (-1.8%) from 2023

Net Income

Up

$561,359

Up $353,348 (+170%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2018: $1,335,298Liabilities 2018: $54,353Net Assets 2018: $1,280,9452018Assets 2019: $1,719,380Liabilities 2019: $28,578Net Assets 2019: $1,690,8022019Assets 2020: $2,163,971Liabilities 2020: $114,394Net Assets 2020: $2,049,5772020Assets 2021: $3,193,096Liabilities 2021: $89,636Net Assets 2021: $3,103,4602021Assets 2022: $3,204,620Liabilities 2022: $3,716Net Assets 2022: $3,200,9042022Assets 2023: $3,690,922Liabilities 2023: $38,258Net Assets 2023: $3,652,6642023Assets 2024: $4,624,897Liabilities 2024: $48,826Net Assets 2024: $4,576,0712024

Highlighted filing

2024

Assets$4,624,897
Liabilities$48,826
Net Assets$4,576,071

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0Revenue 2018: $898,413Expenses 2018: $813,663Net Income 2018: $84,7502018Revenue 2019: $1,277,817Expenses 2019: $883,398Net Income 2019: $394,4192019Revenue 2020: $1,203,137Expenses 2020: $900,677Net Income 2020: $302,4602020Revenue 2021: $1,440,591Expenses 2021: $821,964Net Income 2021: $618,6272021Revenue 2022: $1,459,597Expenses 2022: $896,430Net Income 2022: $563,1672022Revenue 2023: $1,238,566Expenses 2023: $1,030,555Net Income 2023: $208,0112023Revenue 2024: $1,573,514Expenses 2024: $1,012,155Net Income 2024: $561,3592024

Highlighted filing

2024

Revenue$1,573,514
Expenses$1,012,155
Net Income$561,359

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$1,824,120
Mission and Program Overview

Mission

Hfs chicago scholars (hfs) was created for the express purpose of supporting the educational aspiration of economically disadvantaged, but academically motivated chicago inner-city youth. Hfs grants partial scholarships to qualifying students, works with other unrelated scholarship funds and the chosen high school of the scholarship recipients to address full tuition and other school cost needs of the recipients and provides an active mentor for each recipient to help the recipient successfully achieve his or her educational goals.

To support the educational aspirations of economically disadvantaged but academically motivated chicago inner-city youth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,095,194$3,767,482▲ $672,288
Cash and Non-Interest-Bearing Accounts$520,706$823,642▲ $302,936
Accounts Receivable$71,772$13,620▼ $58,152
Land, Buildings, and Equipment, Net-$12,153-
Prepaid Expenses and Deferred Charges$3,250$8,000▲ $4,750
Total Assets$3,690,922$4,624,897▲ $933,975
Liabilities
Deferred Revenue$15,000$33,730▲ $18,730
Accounts Payable and Accrued Expenses$23,258$15,096▼ $8,162
Total Liabilities$38,258$48,826▲ $10,568
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,045,585$2,477,259▲ $431,674
Net Assets With Donor Restrictions$1,607,079$2,098,812▲ $491,733
Total Net Assets Fund Balance$3,652,664$4,576,071▲ $923,407
Total Liabilities and Net Assets / Fund Balance$3,690,922$4,624,897▲ $933,975

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$12,153$347$12,500

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$1,920,665$253,875▲ $327,509-$2,452,049
2022$1,638,879$87,500▲ $234,286-$1,920,665
2021$1,317,310$568,569▼ $247,000-$1,638,879
2020$783,334$244,999▲ $288,977-$1,317,310
2019$371,958$389,549▲ $21,827-$783,334
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Desiree Pepper-venzantExecutive DiFT$104,750$104,750

Board Members and Trustees

NameTitle
Michael J KennellyBoard Chairm
J JAMES O'MALLEYVice Chair
Christian CooleyVice Chairma
Adam PollockDirector
Alex AgranDirector
Andrew WeilDirector
Angela CinefroDirector
Anthony GarciaDirector
Brian GallagherDirector
Brian ZygmuntDirector
Carmen OntiverosDirector
Chris VaronesDirector
Christopher Petrini-poliDirector
Christopher RaubDirector
Claudia SaranDirector
Daniel QuintanaDirector
Daniel TiemannDirector
David HilgerDirector
David KuceraDirector
David TracyDirector
Dean BekasDirector
Dennis CrowleyDirector
Donovan PepperDirector
Edward KellerDirector
Frank PetitoDirector
George N PanagakisDirector
Gerald MolidorDirector
Gregory TeegenDirector
Heather AlbrightDirector
Hon Matthew KennellyDirector
James AllegrettiDirector
James JonesDirector
James SheehanDirector
Jason DejonkerDirector
Jason WhiteDirector
Jennifer DriscollDirector
Jerry PrassasDirector
Jim ConveryDirector
Jim LentzDirector
John KavanaughDirector
John KellerDirector
John MclaughlinDirector
John SikoraDirector
Jordan CurnesDirector
Joseph DimberioDirector
Joy WaltonDirector
Kara GoodwinDirector
Karen QuirkDirector
Kerri LinDirector
Kevin BlitzDirector
Kevin CallahanDirector
Kevin MccartyDirector
Laura Van PeenanDirector
Mark GertzofDirector
Mark MccarvilleDirector
Michael ScolaroDirector
Michael SharkeyDirector
Michael SullivanDirector
Nancy PetermanDirector
Rona BorreDirector
Ryan GrommesDirector
Sameer GhaznaviDirector
Scott MeyerDirector
Scott WilliamsDirector
Sean MeehanDirector
Steve GrimesDirector
Suzanne MartinezDirector
Suzanne YoonDirector
Tamara MeyerDirector
Tanja BabichDirector
Thomas JohannesenDirector
Vernis Barrier-likesDirector
Yi WeiDirector
Raymond WhearleySecretary
Kathy L ClolingerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,558,706
Program Service Revenue
$0
Investment Income
$190,594
Other Revenue
$-175,786
All Other Contributions
$530,315
Change in Net Assets
$561,359

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,573,514
Revenue Not Reported on Form 990
$362,048
Total Revenue per Audited Statements
$1,935,562
Total Revenue per Form 990
$1,573,514
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$459,775
Grants and Similar Amounts Paid$442,010
Other Expenses$110,370
Total Fundraising Expense$69,714
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$442,010--$442,010
Other Salaries and Wages$355,025--$355,025
Current Officers, Directors, Trustees, and Key Employees$54,750-$50,000$104,750
Office Expenses$7,642$40$12,976$20,658
All Other Expenses$6,065$6,559$96$12,720
Other Expenses$7,492-$6,642$6,642
Occupancy$5,075--$5,075
Insurance-$3,574-$3,574
Fees for Services Accounting-$2,250-$2,250
Total Functional Expenses$930,018$12,423$69,714$1,012,155

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,012,155
Total Expenses per Audited Statements$1,012,155
Total Expenses per Form 990$1,012,155
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Fenwick High SchoolOak Park, IL-Scholarship$45,000
Chicago Hope AcademyChicago, IL-Scholarship$41,076
St Laurence High SchoolBurbank, IL-Scholarship$38,200
De La Salle InstituteChicago, IL-Scholarship$33,200
St Ignatius College PrepChicago, IL-Scholarship$32,250
Loyola AcademyWilmette, IL-Scholarship$18,405
Cristo Rey Jesuit High SchoolChicago, IL-Scholarship$16,850
Francis W Parker SchoolChicago, IL-Scholarship$16,400
Nazareth AcademyLa Grange Park, IL-Scholarship$14,200
Univ of Chicago Lab SchoolChicago, IL-Scholarship$13,800
Mother Mcauley Liberal Arts High ScChicago, IL-Scholarship$11,900
Trinity HsRiver Forest, IL-Scholarship$11,750
De Paul College PrepChicago, IL-Scholarship$10,050
Holy Trinity High SchoolChicago, IL-Scholarship$9,900
Ic Catholic PrepElmhurst, IL-Scholarship$8,650
Marian Catholic High SchoolChicago Heights, IL-Scholarship$8,350
Providence St Mel High SchoolChicago, IL-Scholarship$8,300
Mount Carmel High SchoolChicago, IL-Scholarship$6,420
St Francis De SalesChicago, IL-Scholarship$6,250
Beacon AcademyEvanston, IL-Scholarshop$5,600
Josephinum AcademyChicago, IL-Scholarship$5,600
The Latin School of ChicagoChicago, IL-Scholarship$5,550
Morgan Park AcademyChicago, IL-Schilarship$5,450
Christ the KingChicago, IL-Scholarship$5,400
Woodlands Academy of the Sacred HeaLake Forest, IL--$5,400
Chicago Academy for the ArtsChicago, IL--$5,300
Lake Forest AcademyLake Forest, IL--$5,300
Walther Christian AcademyMelrose Park, IL-Scholarship$5,150
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$175,786
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Breakfast$841,616-$67,557-
Ypb Event$91,475-$70,616-
Total Events$1,028,391-$175,786$-175,786
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
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, Page 6, Part VI, Line 2

Michael kennelly hon. Matthew kennelly siblings desiree pepper-venzant donovan pepper siblings

Form 990, Page 6, Part VI, Line 11B

The finance committee reveiws the 990 in draft form before filing.

Form 990, Page 6, Part VI, Line 19

The returns can be found on www.hfschicagoscholars.com, guidestar and the state of illinois attorney general websites. Information is also made available upon request.

Filing and Contact Details

Filer

Filer Name
Hfs Chicago Scholars
EIN
36-3922345
Phone
3124214070
Address
1074 W TAYLOR STREET RM/STE 201, CHICAGO, IL 60607-4336

Signing Officer

Name
Kathy L Clolinger
Title
Treasurer
Phone
3124214070
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathy L Clolinger
Formed
1993
Legal Domicile
Il
Voting Board Members
75
Independent Board Members
72
Employees
19
Volunteers
250

Preparer

Firm
Abendroth Acctg & Tax Services Inc
Address
6817 167TH STREET, TINLEY PARK, IL 60477-2501
Preparer
Danielle N Abendroth
Phone
7088644071
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Hfs chicago scholars (hfs) was created for the express purpose of supporting the educational aspiration of economically disadvantaged, but academically motivated chicago inner-city youth. Hfs grants partial scholarships to qualifying students, works with other unrelated scholarship funds and the chosen high school of the scholarship recipients to address full tuition and other school cost needs of the recipients and provides an active mentor for each recipient to help the recipient successfully achieve his or her educational goals.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

Hfs administers a permanent endowmwnt fund to provide scholarships to students.

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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/Form990PartVIISectionAGrp/OfficerInd0X
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt260
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt290
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt310
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt360
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt410
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt530
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt740
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt750
IRS990/Form990PartVIISectionAGrp/PersonNm0MICHAEL J KENNELLY
IRS990/Form990PartVIISectionAGrp/PersonNm1JAMES ALLEGRETTI
IRS990/Form990PartVIISectionAGrp/PersonNm2KATHY L CLOLINGER
IRS990/Form990PartVIISectionAGrp/PersonNm3DESIREE PEPPER-VENZANT
IRS990/Form990PartVIISectionAGrp/PersonNm4HEATHER ALBRIGHT
IRS990/Form990PartVIISectionAGrp/PersonNm5DEAN BEKAS
IRS990/Form990PartVIISectionAGrp/PersonNm6KEVIN CALLAHAN
IRS990/Form990PartVIISectionAGrp/PersonNm7JOSEPH DIMBERIO
IRS990/Form990PartVIISectionAGrp/PersonNm8BRIAN GALLAGHER
IRS990/Form990PartVIISectionAGrp/PersonNm9MARK GERTZOF
IRS990/Form990PartVIISectionAGrp/PersonNm10KARA GOODWIN
IRS990/Form990PartVIISectionAGrp/PersonNm11DAVID HILGER
IRS990/Form990PartVIISectionAGrp/PersonNm12HON MATTHEW KENNELLY
IRS990/Form990PartVIISectionAGrp/PersonNm13DAVID KUCERA
IRS990/Form990PartVIISectionAGrp/PersonNm14JIM LENTZ
IRS990/Form990PartVIISectionAGrp/PersonNm15KERRI LIN
IRS990/Form990PartVIISectionAGrp/PersonNm16KEVIN MCCARTY
IRS990/Form990PartVIISectionAGrp/PersonNm17MARK MCCARVILLE
IRS990/Form990PartVIISectionAGrp/PersonNm18SCOTT MEYER
IRS990/Form990PartVIISectionAGrp/PersonNm19TAMARA MEYER
IRS990/Form990PartVIISectionAGrp/PersonNm20CARMEN ONTIVEROS
IRS990/Form990PartVIISectionAGrp/PersonNm21GEORGE N PANAGAKIS
IRS990/Form990PartVIISectionAGrp/PersonNm22CHRISTOPHER PETRINI-POLI
IRS990/Form990PartVIISectionAGrp/PersonNm23DONOVAN PEPPER
IRS990/Form990PartVIISectionAGrp/PersonNm24NANCY PETERMAN
IRS990/Form990PartVIISectionAGrp/PersonNm25FRANK PETITO
IRS990/Form990PartVIISectionAGrp/PersonNm26CHRISTOPHER RAUB
IRS990/Form990PartVIISectionAGrp/PersonNm27CLAUDIA SARAN
IRS990/Form990PartVIISectionAGrp/PersonNm28MICHAEL SCOLARO
IRS990/Form990PartVIISectionAGrp/PersonNm29JAMES SHEEHAN
IRS990/Form990PartVIISectionAGrp/PersonNm30GREGORY TEEGEN
IRS990/Form990PartVIISectionAGrp/PersonNm31DAVID TRACY
IRS990/Form990PartVIISectionAGrp/PersonNm32LAURA VAN PEENAN
IRS990/Form990PartVIISectionAGrp/PersonNm33CHRIS VARONES
IRS990/Form990PartVIISectionAGrp/PersonNm34JOY WALTON
IRS990/Form990PartVIISectionAGrp/PersonNm35JASON WHITE
IRS990/Form990PartVIISectionAGrp/PersonNm36SUZANNE YOON
IRS990/Form990PartVIISectionAGrp/PersonNm37JOHN SIKORA
IRS990/Form990PartVIISectionAGrp/PersonNm38BRIAN ZYGMUNT
IRS990/Form990PartVIISectionAGrp/PersonNm39ALEX AGRAN
IRS990/Form990PartVIISectionAGrp/PersonNm40JOHN KAVANAUGH
IRS990/Form990PartVIISectionAGrp/PersonNm41SEAN MEEHAN
IRS990/Form990PartVIISectionAGrp/PersonNm42ANDREW WEIL
IRS990/Form990PartVIISectionAGrp/PersonNm43SCOTT WILLIAMS
IRS990/Form990PartVIISectionAGrp/PersonNm44EDWARD KELLER
IRS990/Form990PartVIISectionAGrp/PersonNm45JOHN MCLAUGHLIN
IRS990/Form990PartVIISectionAGrp/PersonNm46SUZANNE MARTINEZ
IRS990/Form990PartVIISectionAGrp/PersonNm47DENNIS CROWLEY
IRS990/Form990PartVIISectionAGrp/PersonNm48ANTHONY GARCIA
IRS990/Form990PartVIISectionAGrp/PersonNm49JAMES JONES
IRS990/Form990PartVIISectionAGrp/PersonNm50KEVIN BLITZ
IRS990/Form990PartVIISectionAGrp/PersonNm51JIM CONVERY
IRS990/Form990PartVIISectionAGrp/PersonNm52CHRISTIAN COOLEY
IRS990/Form990PartVIISectionAGrp/PersonNm53TANJA BABICH
IRS990/Form990PartVIISectionAGrp/PersonNm54ANGELA CINEFRO
IRS990/Form990PartVIISectionAGrp/PersonNm55JENNIFER DRISCOLL
IRS990/Form990PartVIISectionAGrp/PersonNm56THOMAS JOHANNESEN
IRS990/Form990PartVIISectionAGrp/PersonNm57KAREN QUIRK
IRS990/Form990PartVIISectionAGrp/PersonNm58MICHAEL SHARKEY
IRS990/Form990PartVIISectionAGrp/PersonNm59YI WEI
IRS990/Form990PartVIISectionAGrp/PersonNm60JORDAN CURNES
IRS990/Form990PartVIISectionAGrp/PersonNm61SAMEER GHAZNAVI
IRS990/Form990PartVIISectionAGrp/PersonNm62ADAM POLLOCK
IRS990/Form990PartVIISectionAGrp/PersonNm63JOHN KELLER
IRS990/Form990PartVIISectionAGrp/PersonNm64VERNIS BARRIER-LIKES
IRS990/Form990PartVIISectionAGrp/PersonNm65JERRY PRASSAS
IRS990/Form990PartVIISectionAGrp/PersonNm66STEVE GRIMES
IRS990/Form990PartVIISectionAGrp/PersonNm67RYAN GROMMES
IRS990/Form990PartVIISectionAGrp/PersonNm68J JAMES O'MALLEY
IRS990/Form990PartVIISectionAGrp/PersonNm69RAYMOND WHEARLEY
IRS990/Form990PartVIISectionAGrp/PersonNm70RONA BORRE
IRS990/Form990PartVIISectionAGrp/PersonNm71JASON DEJONKER
IRS990/Form990PartVIISectionAGrp/PersonNm72GERALD MOLIDOR
IRS990/Form990PartVIISectionAGrp/PersonNm73DANIEL QUINTANA
IRS990/Form990PartVIISectionAGrp/PersonNm74MICHAEL SULLIVAN
IRS990/Form990PartVIISectionAGrp/PersonNm75DANIEL TIEMANN
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt3104750
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100

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