Civic Intelligence

Ge Chamber Foundation

990 • Fiscal year 2021 • EIN 82-4824489

Jan 01, 2021 to Dec 31, 2021 • Filed on Apr 18, 2023

Organization ProfileN/A
825 W 69th Street 2nd FChicago, IL 60621

(312) 768-8573

Siviq Scores

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

Liabilities / Assets

75th percentile

0.06x

Higher debt load relative to assets than 75% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

74th percentile

0.05x

Higher debt load relative to revenue than 74% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

9th percentile

-70%

Higher net margin than 9% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

92nd percentile

$49,649

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 15.1% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

8th percentile

-49%

Faster asset growth than 8% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

11th percentile

-68%

Faster revenue growth than 11% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$230,216

Down $219,512 (-49%) from 2020

Net Assets

Down

$215,354

Down $228,774 (-52%) from 2020

Liabilities

Up

$14,862

Up $9,262 (+165%) from 2020

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin9th percentile

Revenue

Down

$327,841

Down $698,079 (-68%) from 2020

Expenses

Down

$556,615

Down $26,526 (-4.5%) from 2020

Net Income

Down

-$228,774

Down $671,553 (-152%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth8th percentile

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

$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

2021

Assets$230,216
Liabilities$14,862
Net Assets$215,354
Open 2021 Filing

Operations Trend

Revenue Growth11th percentile

Revenue, expenses, and net income across loaded years, with this 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

2021

Revenue$327,841
Expenses$556,615
Net Income-$228,774
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Apr 18, 2023
Return Version
2021v4.1
Gross Receipts
$327,841
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$449,728$193,346▼ $256,382
Accounts Receivable-$35,752-
Prepaid Expenses and Deferred Charges-$1,118-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$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$449,728$230,216▼ $219,512
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$5,600$14,862▲ $9,262
Total Liabilities$5,600$14,862▲ $9,262
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$183,782$210,354▲ $26,572
Net Assets With Donor Restrictions$260,346$5,000▼ $255,346
Total Net Assets Fund Balance$444,128$215,354▼ $228,774
Total Liabilities and Net Assets / Fund Balance$449,728$230,216▼ $219,512
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Felicia Slaton-youngExecutive DirectorFT$49,649$49,649

Board Members and Trustees

NameTitle
Danielle PerryChairman
Caroline MccoyDirector
Clifford CarthanDirector
Morgan MalloneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$327,841
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$327,841
Change in Net Assets
$-228,774

Audited Revenue Reconciliation

Revenue per Audited Statements
$327,841
Total Revenue per Audited Statements
$327,841
Total Revenue per Form 990
$327,841
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$506,966
Salaries, Compensation, and Employee Benefits$49,649
Total Fundraising Expense$22,947
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$27,835$13,379$20,345$61,559
Current Officers, Directors, Trustees, and Key Employees$49,649--$49,649
Other Expenses$3,033$5,033-$8,066
Fees for Services Accounting$4,743-$1,709$6,452
Occupancy$2,476$531$893$3,900
Office Expenses-$3,458-$3,458
Advertising$2,166--$2,166
All Other Expenses$948$247-$1,195
Information Technology$447--$447
Insurance-$373-$373
Fees for Services Legal-$250-$250
Total Functional Expenses$510,397$23,271$22,947$556,615

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$556,615
Total Expenses per Audited Statements$556,615
Total Expenses per Form 990$556,615
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
No
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
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, Line 11B: Form 990 Review Process

“Executive Director will circulate the 990 to the Finance Committee.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“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
2023-04-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Felicia Slaton-young
Formed
2018
Legal Domicile
Il
Voting Board Members
5
Independent Board Members
4
Employees
0

Preparer

Firm
Ragland Arnold Buchanan Morris & Associ
Address
9457 Enterprise Drive, Mokena, IL 60448
Preparer
Gregory Arnold
Phone
7083330634
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Management believes that all the positions taken by the Organization in its Federal and State Income tax returns are more likely than not to be sustained upon examination. The Organization files returns in the U. S. Federal Jurisdiction and with the state of Illinois Attorney Generals Office.”

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ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$230,216
Liabilities
$14,862
Net assets
$215,354
Revenue
$327,841
Expenses
$556,615
Net income
-$228,774
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