Civic Intelligence

The Chicago Scholars Foundation

EIN 36-4117530 • 501(c)3 • Chicago, IL

View Organization Page

Profile

Chicago scholars is transforming the leadership landscape of our city by resolving the fundamental barriers to success for academically driven, first generation college students from under-resourced communities. Through college counseling, mentoring, and by providing a supportive community to our scholars through each phase of our program: college access: launch, college persistence: lift and college to careers: lead, we ensure that they realize their full potential as students and leaders.

247 S State Street 700Chicago, IL 60604

www.chicagoscholars.org

Siviq Scores

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

Liabilities / Assets

48th percentile

0.15x

Higher debt load relative to assets than 48% of similar nonprofits.

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

Liabilities / Revenue

54th percentile

0.26x

Higher debt load relative to revenue than 54% of similar nonprofits.

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

Net Margin

13th percentile

-16%

Higher net margin than 13% of similar nonprofits.

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

Top Officer Pay

61st percentile

$220,682

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 3.4% of source-year revenue.

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

Asset Growth

56th percentile

6.2%

Faster asset growth than 56% of similar nonprofits.

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

Revenue Growth

25th percentile

-5.0%

Faster revenue growth than 25% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets48th percentile

Assets

Up

$11,072,062

Up $1,021,734 (+10%) from 2022

Liabilities

Up

$1,695,162

Up $1,085,811 (+178%) from 2022

Net Assets

Down

$9,376,900

Down $64,077 (-0.7%) from 2022

Operations
Liabilities / Revenue54th percentileNet Margin13th percentile

Revenue

Down

$6,512,762

Down $638,656 (-8.9%) from 2022

Expenses

Up

$7,570,054

Up $1,834,769 (+32%) from 2022

Net Income

Down

-$1,057,292

Down $2,473,425 (-175%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth56th percentile

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

$15M$10M$5.0M$0Assets 2010: $2,461,113Liabilities 2010: $51,213Net Assets 2010: $2,409,9002010Assets 2011: $1,828,124Liabilities 2011: $52,644Net Assets 2011: $1,775,4802011Assets 2012: $2,943,774Liabilities 2012: $27,003Net Assets 2012: $2,916,7712012Assets 2013: $6,473,502Liabilities 2013: $43,413Net Assets 2013: $6,430,0892013Assets 2017: $9,693,017Liabilities 2017: $543,616Net Assets 2017: $9,149,4012017Assets 2018: $10,784,687Liabilities 2018: $493,631Net Assets 2018: $10,291,0562018Assets 2019: $9,623,893Liabilities 2019: $553,356Net Assets 2019: $9,070,5372019Assets 2020: $8,056,002Liabilities 2020: $1,096,535Net Assets 2020: $6,959,4672020Assets 2021: $9,876,556Liabilities 2021: $1,180,684Net Assets 2021: $8,695,8722021Assets 2022: $10,050,328Liabilities 2022: $609,351Net Assets 2022: $9,440,9772022Assets 2024: $11,072,062Liabilities 2024: $1,695,162Net Assets 2024: $9,376,9002024

Highlighted filing

2024

Assets$11,072,062
Liabilities$1,695,162
Net Assets$9,376,900
Open 2024 Filing

Operations Trend

Revenue Growth25th percentile

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

$10M$5.0M$0-$5.0MExpenses 2010: $1,358,4162010Expenses 2011: $1,569,9552011Expenses 2012: $1,549,4622012Revenue 2013: $5,102,041Expenses 2013: $1,658,191Net Income 2013: $3,443,8502013Revenue 2017: $4,794,374Expenses 2017: $4,037,945Net Income 2017: $756,4292017Revenue 2018: $5,510,787Expenses 2018: $4,390,492Net Income 2018: $1,120,2952018Revenue 2019: $4,119,937Expenses 2019: $5,333,808Net Income 2019: -$1,213,8712019Revenue 2020: $4,139,913Expenses 2020: $6,234,647Net Income 2020: -$2,094,7342020Revenue 2021: $6,079,355Expenses 2021: $5,260,299Net Income 2021: $819,0562021Revenue 2022: $7,151,418Expenses 2022: $5,735,285Net Income 2022: $1,416,1332022Revenue 2024: $6,512,762Expenses 2024: $7,570,054Net Income 2024: -$1,057,2922024

Highlighted filing

2024

Revenue$6,512,762
Expenses$7,570,054
Net Income-$1,057,292
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$11,072,062
Liabilities
$1,695,162
Net assets
$9,376,900
Revenue
$6,512,762
Expenses
$7,570,054
Net income
-$1,057,292
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.1$1.70$9.38$6.51$7.57$1.06
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.1$0.61$9.44$7.15$5.74$1.42
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.88$1.18$8.70$6.08$5.26$0.82
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.06$1.10$6.96$4.14$6.23$2.09
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.62$0.55$9.07$4.12$5.33$1.21
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.8$0.49$10.3$5.51$4.39$1.12
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.69$0.54$9.15$4.79$4.04$0.76
2013Detailed filing. Detailed filing data is available for this year.$6.47$0.04$6.43$5.10$1.66$3.44
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.94$0.03$2.92$1.55
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.83$0.05$1.78$1.57
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.46$0.05$2.41$1.36
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 13, 2025
Return Version
2023v6.0
Gross Receipts
$8,046,167
Mission and Program Overview

Mission

Chicago scholars is transforming the leadership landscape of our city by resolving the fundamental barriers to success for academically driven, first generation college students from under-resourced communities.

We uniquely select, train, & mentor academically ambitious students from under-resourced communities to complete college & become the next generation of leaders who will transform their neighborhoods & our city.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,946,421$3,155,913▲ $209,492
Cash and Non-Interest-Bearing Accounts$1,695,898$2,468,672▲ $772,774
Pledges and Grants Receivable$2,737,830$2,166,462▼ $571,368
Savings and Temporary Cash Investments$1,434,562$1,558,026▲ $123,464
Cap Stk Tr Prin Current Funds-$1,010,000-
Land, Buildings, and Equipment, Net$580,818$518,306▼ $62,512
Prepaid Expenses and Deferred Charges$226,618$101,012▼ $125,606
Accounts Receivable$89,957$24,176▼ $65,781
Total Assets$10,424,336$11,072,062▲ $647,726
Other Assets Total$712,232$1,079,495▲ $367,263
Liabilities
Other Liabilities$749,484$1,028,156▲ $278,672
Accounts Payable and Accrued Expenses$331,306$333,123▲ $1,817
Escrow Account Liability$219,266$256,868▲ $37,602
Deferred Revenue$187,798$77,015▼ $110,783
Total Liabilities$1,487,854$1,695,162▲ $207,308
Net Assets / Fund Balance
Net Assets With Donor Restrictions$8,221,244$7,839,099▼ $382,145
Net Assets Without Donor Restrictions$715,238$527,801▼ $187,437
Total Net Assets Fund Balance$8,936,482$9,376,900▲ $440,418
Total Liabilities and Net Assets / Fund Balance$10,424,336$11,072,062▲ $647,726

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$338,230$1,030,725$1,368,955
Other Land Buildings$180,076$569,189$749,265
Equipment$0$267,919$267,919
Other Assets Org$30,763--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$4,380,983-▲ $592,025$515,000$4,458,008
2022$4,319,655-▲ $411,328$350,000$4,380,983
2021$4,782,471-▼ $312,816$150,000$4,319,655
2020$3,790,519-▲ $1,141,952$150,000$4,782,471
2019$3,699,669-▲ $90,850-$3,790,519
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeffery Beckham JrCEOPT$210,654$10,028$220,682
Brooke MckeanPresidentPT$173,176$18,694$191,870
Rachael CarboneChief Development & Operations OfficerFT$166,093$3,705$169,798
Rachael CarboneChief Development & Operations Offic-$166,093$3,705$169,798
Tamara PopeVP of ProgramsFT$134,405$16,759$151,164
Derrick Fleming JrManaging Director,strategiFT$103,737$5,258$108,995

Board Members and Trustees

NameTitle
Kris CareyChair
Katherine MannChair, Development
Maria LinChair, Human Resources
Nate UleryVice Chair
Brian SimsDirector
Carl TannenbaumDirector
Dan HoffenkampDirector
Dv WilliamsDirector
Girish KashyapDirector
Greg KraniasDirector
Jesse SlovenecDirector
Kathryn ThomasDirector
Kourtney GibsonDirector
Kristin WolfDirector
Mark CassataDirector
Nisaini RexachDirector
Nyerere BillupsDirector
Oliver BevanDirector
Paula DaniliucDirector
Raj BhatiaDirector
Reginald HillDirector
Rex SessionsDirector
Suzy Kahn WeinbergDirector
Wendy FriedmanDirector
Will RichieDirector
Manny SanchezDirector - Founders Counci
Tim SchwertfegerDirector - Founders Counci
Gary CaplanFounders Council
Suzanne ShierSecretary,
Joey LansingTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,093,127
Program Service Revenue
$313,982
Investment Income
$122,326
Other Revenue
$-16,673
All Other Contributions
$5,644,437
Change in Net Assets
$-1,057,292

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,504,000
Revenue Not Reported on Financial Statements
$8,762
Revenue Not Reported on Form 990
$702,059
Total Revenue per Audited Statements
$7,206,059
Total Revenue per Form 990
$6,512,762
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,088,453
Other Expenses$2,231,932
Total Fundraising Expense$1,115,577
Grants and Similar Amounts Paid$249,669
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,152,798$49,667$488,861$3,691,326
Current Officers, Directors, Trustees, and Key Employees$318,822$134,964$158,477$612,263
Occupancy$289,630$44,798$61,130$395,558
Other Employee Benefits$248,669$74,585$58,180$381,434
Payroll Taxes$273,516$28,654$57,608$359,778
Information Technology$313,967$-29,950$48,712$332,729
Fees for Services Other$230,304$54,274$47,424$332,002
Grants to Domestic Individuals$249,669--$249,669
Depreciation Depletion$132,517$21,714$12,018$166,249
Fees for Services Accounting$2,546$156,175-$158,721
Travel$89,319$23,524$35,043$147,886
Office Expenses$37,935$41,353$33,686$112,974
Advertising$53,404$1,475$43,816$98,695
Pension Plan Contributions$42,562$7,760$-6,670$43,652
Insurance$29,011$3,014$7,989$40,014
Fees for Services Legal$9,375$29,961-$39,336
Fees for Service Investment Mgmnt Fees-$8,762-$8,762
Other Expenses$324-$4,258$4,582
All Other Expenses-$-27,901-$-27,901
Total Functional Expenses$5,831,648$622,829$1,115,577$7,570,054

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,775,641
Total Expenses per Form 990$7,570,054
Expenses per Audited Statements$7,561,292
Expenses Not Reported on Form 990$214,349
Expenses Not Reported on Financial Statements$8,762
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$122,042
Fundraising Gross Income$87,515
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Onsite$285,524$56,950$16,815$40,135
Swing$210,717$30,565$49,682$-19,117
Total Events$496,241$87,515$122,042$-34,527
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$997,393
Deferred Compensation Obligation$30,763
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
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 11B

“Form 990 is provided to the board of directors and is reviewed by the ceo, coo, treasurer and finance committee.”

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

“The foundation updates its conflict of interest policy through survey/statement provided to and returned by officers, directors and key employees at hire. Any disclosures are followed up on a routine basis.”

Form 990, Part VI, Section B, Line 15

“The process of determining compensation for the ceo and executive team utilizes a benchmarking study of peer groups. The executive committee oversees the process, and the board of directors approves the overall annual compensation amount.”

Form 990, Part VI, Section C, Line 19

“The governing documents and conflict of interest policy of the foundation are made available to the public upon request. The financial statements and form 990 are available on the foundation's website.”

Filing and Contact Details

Filer

Filer Name
The Chicago Scholars Foundation
EIN
36-4117530
Phone
3127843300
Address
247 S STATE STREET 700, CHICAGO, IL 60604
Doing Business As
Chicago Scholars

Signing Officer

Name
Jeffery Beckham Jr
Title
CEO
Phone
3127843300
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffery Beckham Jr
Formed
1996
Legal Domicile
Il
Voting Board Members
32
Independent Board Members
30
Employees
125
Volunteers
934

Preparer

Firm
Mann Weitz & Associates LLC
Address
570 LAKE COOK ROAD SUITE 330, DEERFIELD, IL 60015
Preparer
Marcy Steindler
Phone
8472673400
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Capital contribution to reach pathways (disregarded entity) 1,010,000.”

Financial Statement Notes

PART IV, LINE 2B:

“Description for arrangement related to agency transactions - schedule d - part iv, line 2b the receipt of funds for chicago cubs scholarship(march 2023 and february 2024) and subsequent payment of scholarships (paid in september 2023 and in august 2024) are recorded as a pass-through agency transaction (rather than a contribution when funds rec'd and scholarship expense when funds paid) as the chicago cubs organization makes the selection of which students will receive the benefit of these scholarhips. These scholarships are in alignment with the organization's mission and programming.”

PART V, LINE 4:

“Donor restricted amounts of the endowment are available for use within one year for general purposes include the estimated payment of $215,000 from the endowment fund per the spending policy in august, 2023. During the year ended june 30, 2024, as permitted by the endowment agreement and board approval, the organization's board of directors approved an additional $300,000 payment from the endowment fund.”

PART X, LINE 2:

“The financial statement effects of a tax position taken or expected to be taken are recognized in the financial statements when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. As of june 30, 2024, the organization had no uncertain income tax positions that qualify for recognition or disclosure in the financial statements.”

Raw XML AppendixShowing 400 of 853 raw XML fields

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

Path#Value
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IRS990/ActivityOrMissionDesc0WE UNIQUELY SELECT, TRAIN, & MENTOR ACADEMICALLY AMBITIOUS STUDENTS FROM UNDER-RESOURCED COMMUNITIES TO COMPLETE COLLEGE & BECOME THE NEXT GENERATION OF LEADERS WHO WILL TRANSFORM THEIR NEIGHBORHOODS & OUR CITY.
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IRS990/Desc0CHICAGO SCHOLARS OFFERS AN INNOVATIVE SEVEN-YEAR PROGRAM LASTING FROM THE SUMMER BEFORE THEIR SENIOR YEAR OF HIGH SCHOOL THROUGH THE SENIOR YEAR OF COLLEGE AND ENDING WITH TWO YEARS OF LEADERSHIP DEVELOPMENT. IN THEIR FIRST YEAR OF PROGRAMMING, SCHOLARS WORK CLOSELY WITH COLLEGE COUNSELORS, MENTORS AND PEERS TO APPLY TO COLLEGES AND UNIVERSITIES THAT ARE THEIR RIGHT MATCH, FIT AND FINANCIAL FIT. OUR HOLISTIC APPROACH STRIVES FOR OUR SCHOLARS TO FIND THE COLLEGES AND UNIVERSITIES WHERE THEY CAN BUILD COMMUNITY AND FOSTER BELONGING. CHICAGO SCHOLARS PROVIDES SCHOLARS ENROLLED IN COLLEGE UNIQUE SCHOLARSHIP OPPORTUNITIES, CONTINUED MENTORSHIP AND A COMMUNITY OF PEOPLE WHO CARE, SO THAT OUR SCHOLARS PERSIST THROUGH COLLEGE, THRIVE IN THEIR STUDIES AND GRADUATE WITH DEGREES THAT LEAD TO MEANINGFUL CAREERS, HIGHER SALARIES AND ECONOMIC MOBILITY. CHICAGO SCHOLARS' CAREER PROGRAMMING HELPS OUR SCHOLARS GAIN ACCESS TO THE KEY INTERNSHIPS, OPPORTUNITIES, AND NETWORKS THAT WILL LEAD THEM TO THEIR FIRST JOBS AND LAUNCH LIFE-CHANGING CAREERS. EACH YEAR CHICAGO SCHOLARS WORKS TO IMPROVE ITS PROGRAMS, SERVICES AND PARTNERSHIPS. TO DATE, MORE THAN 6,000 CHICAGO SCHOLARS ARE IN OR HAVE COMPLETED THE PROGRAM. 88% OF OUR SCHOLARS AND ALUMS COME FROM LOW-INCOME HOUSEHOLDS. 82% ARE FIRST GENERATION COLLEGE STUDENTS. OUR SCHOLARS HAVE COME FROM ALL 77 CHICAGO COMMUNITY AREAS. HISTORICALLY, 96% OF SCHOLARS MATRICULATE TO COLLEGE IN THE FALL FOLLOWING THEIR HIGH SCHOOL GRADUATION, AND 76% EARN THEIR DEGREES WITHIN SIX YEARS. OVERALL THE SCHOLARS ATTENDED OR GRADUATED FROM MORE THAN 500 COLLEGES AND UNIVERSITIES WORLDWIDE.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10CHAIR, DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt11TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt12FOUNDERS COUNCIL
IRS990/Form990PartVIISectionAGrp/TitleTxt13CHAIR, HUMAN RESOURCES
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR - FOUNDERS COUNCI
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR - FOUNDERS COUNCI
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20SECRETARY,
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt32CHIEF DEVELOPMENT & OPERATIONS OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt33VP OF PROGRAMS
IRS990/Form990PartVIISectionAGrp/TitleTxt34MANAGING DIRECTOR,STRATEGI
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