Civic Intelligence

Ge Chamber Foundation

EIN 82-4824489 • 501(c)3 • Chicago, IL

Pub. 78 Eligible990-N Coverage

Profile

The GE Chamber Foundation mission is to use an asset-based approach to equitably fund black and brown businesses, placing them at the center of the small business ecosystem, by advocating for changes to economic development and serving as a trusted, credible, and reliable source of support relevant to the individualized needs of small businesses.The GE Chamber Foundation is the sister organization of the GE Chamber of Commerce.

825 W 69th Street 2nd FChicago, IL 60621

n/A

Siviq Scores

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

Liabilities / Assets

58th percentile

0.04x

Higher debt load relative to assets than 58% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

53rd percentile

0.02x

Higher debt load relative to revenue than 53% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

74th percentile

21%

Higher net margin than 74% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

91st percentile

64%

Faster asset growth than 91% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

97th percentile

227%

Faster revenue growth than 97% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets58th percentile

Assets

Up

$496,575

Up $193,468 (+64%) from 2023

Liabilities

Down

$21,459

Down $748 (-3.4%) from 2023

Net Assets

Up

$475,116

Up $194,216 (+69%) from 2023

Operations
Liabilities / Revenue53rd percentileNet Margin74th percentile

Revenue

Up

$933,358

Up $647,794 (+227%) from 2023

Expenses

Up

$739,142

Up $406,676 (+122%) from 2023

Net Income

Up

$194,216

Up $241,118 (+514%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth91st percentile

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

$600K$400K$200K$0Assets 2020: $449,728Liabilities 2020: $5,600Net Assets 2020: $444,1282020Assets 2021: $230,216Liabilities 2021: $14,862Net Assets 2021: $215,3542021Assets 2022: $373,210Liabilities 2022: $45,408Net Assets 2022: $327,8022022Assets 2023: $303,107Liabilities 2023: $22,207Net Assets 2023: $280,9002023Assets 2024: $496,575Liabilities 2024: $21,459Net Assets 2024: $475,1162024

Highlighted filing

2024

Assets$496,575
Liabilities$21,459
Net Assets$475,116
Open 2024 Filing

Operations Trend

Revenue Growth97th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2020: $1,025,920Expenses 2020: $583,141Net Income 2020: $442,7792020Revenue 2021: $327,841Expenses 2021: $556,615Net Income 2021: -$228,7742021Revenue 2022: $311,762Expenses 2022: $199,314Net Income 2022: $112,4482022Revenue 2023: $285,564Expenses 2023: $332,466Net Income 2023: -$46,9022023Revenue 2024: $933,358Expenses 2024: $739,142Net Income 2024: $194,2162024

Highlighted filing

2024

Revenue$933,358
Expenses$739,142
Net Income$194,216
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
$496,575
Liabilities
$21,459
Net assets
$475,116
Revenue
$933,358
Expenses
$739,142
Net income
$194,216
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.50$0.02$0.48$0.93$0.74$0.19
2023Detailed filing. Detailed filing data is available for this year.$0.30$0.02$0.28$0.29$0.33$0.05
2022Detailed filing. Detailed filing data is available for this year.$0.37$0.05$0.33$0.31$0.20$0.11
2021Detailed filing. Detailed filing data is available for this year.$0.23$0.01$0.22$0.33$0.56$0.23
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$0.01$0.44$1.03$0.58$0.44
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.2
Gross Receipts
$933,358
Mission and Program Overview

Mission

The GE Chamber Foundation mission is to use an asset-based approach to equitably fund black and brown businesses, placing them at the center of the small business ecosystem, by advocating for changes to economic development and serving as a trusted, credible, and reliable source of support relevant to the individualized needs of small businesses.The GE Chamber Foundation is the sister organization of the GE Chamber of Commerce.

The ge chamber foundation mission is to use an asset-based approach to equitably fund black and brown businesses, placing them at the center of the small business ecosystem, by advocating for changes to economic development and serving as a trusted, creditble, and reliable source of support relevant to the individualized needs of small businesses. The greater englewood (ge) chamber foundation is the sister organization of the greater englewood chamber of commerce.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$287,932$493,902▲ $205,970
Prepaid Expenses and Deferred Charges-$1,473-
Pledges and Grants Receivable$1,000$0▼ $1,000
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$303,107$496,575▲ $193,468
Other Assets Total$14,175$1,200▼ $12,975
Liabilities
Accounts Payable and Accrued Expenses$9,239$21,459▲ $12,220
Other Liabilities$12,968--
Total Liabilities$22,207$21,459▼ $748
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$280,900$475,116▲ $194,216
Total Net Assets Fund Balance$280,900$475,116▲ $194,216
Total Liabilities and Net Assets / Fund Balance$303,107$496,575▲ $193,468
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Felicia Slaton-youngPresident&ed
Ciera WhitakerDirector
Nanette TuckerDirector
Rachael TurnerDirector
Morgan MalloneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$928,935
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$4,423
All Other Contributions
$928,935
Change in Net Assets
$194,216

Audited Revenue Reconciliation

Revenue per Audited Statements
$933,358
Total Revenue per Audited Statements
$933,358
Total Revenue per Form 990
$933,358
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$457,180
Salaries, Compensation, and Employee Benefits$281,962
Total Fundraising Expense$73,914
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$164,829$63,396$25,358$253,583
Fees for Services Accounting$23,459$9,022$3,609$36,090
Fees for Services Other$18,855$7,252$2,901$29,008
Payroll Taxes$13,827$5,318$2,127$21,272
Office Expenses$13,001$5,000$2,000$20,001
Other Expenses$7,502$2,886$1,154$11,542
Occupancy$6,052$2,327$931$9,310
Advertising$5,622$2,162$865$8,649
Other Employee Benefits$4,620$1,776$711$7,107
Information Technology$4,584$1,764$705$7,053
All Other Expenses$2,718$1,045$418$4,181
Travel$545$210$84$839
Insurance$478$184$74$736
Total Functional Expenses$480,443$184,785$73,914$739,142

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$739,142
Total Expenses per Audited Statements$739,142
Total Expenses per Form 990$739,142
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
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 11B

“Executive director will circulate form 990 to the finance committee prior to filing.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Ge Chamber Foundation
EIN
82-4824489
Phone
3127688573
Address
825 W 69TH STREET 2ND F, CHICAGO, IL 60621

Signing Officer

Name
Felicia Slaton-young
Title
Executive Director
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Formed
2018
Legal Domicile
Il
Voting Board Members
5
Independent Board Members
4
Employees
5
Volunteers
8

Preparer

Firm
Ringold Financial Management Services
Address
850 S WABASH AVE STE 320, CHICAGO, IL 60605
Preparer
Michelle Ringold
Phone
7084785850
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The Organization is recognized as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and is exempt from federal and State income taxes on related income. The Organization had no unrelated business income during fiscal years 2024 and 2023 and, therefore, no provision for federal or State income taxes has been made in the accompanying financial statements. The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. This requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Organizations tax returns to determine whether the tax positions are more likely than not of being sustained when challenged or when examined by the applicable tax authority. For the years ended December 31, 2024 and December 31, 2023, management has determined that there were no material uncertain tax positions.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization is recognized as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and is exempt from federal and State income taxes on related income. The Organization had no unrelated business income during fiscal years 2024 and 2023 and, therefore, no provision for federal or State income taxes has been made in the accompanying financial statements. The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. This requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Organizations tax returns to determine whether the tax positions are more likely than not of being sustained when challenged or when examined by the applicable tax authority. For the years ended December 31, 2024 and December 31, 2023, management has determined that there were no material uncertain tax positions.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXECUTIVE DIRECTOR WILL CIRCULATE FORM 990 TO THE FINANCE COMMITTEE PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0FELICIA SLATON-YOUNG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GE CHAMBER FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0GECH
ReturnHeader/Filer/EIN0824824489
ReturnHeader/Filer/PhoneNum03127688573
ReturnHeader/Filer/USAddress/AddressLine1Txt0825 W 69TH STREET 2ND F
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RINGOLD FINANCIAL MANAGEMENT SERVICES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0850 S WABASH AVE STE 320
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHICAGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL

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