Civic Intelligence

Ge Chamber Foundation

990 • Fiscal year 2023 • EIN 82-4824489

Jan 01, 2023 to Dec 31, 2023 • Filed on Dec 19, 2024

Organization Profilewww.gechamber.com/gecf
825 W 69th Street 2nd FChicago, IL 60621

(312) 768-8573

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$303,107

Flat from 2023

Net Assets

Flat

$280,900

Flat from 2023

Liabilities

Flat

$22,207

Flat from 2023

Revenue And Expenses

Revenue

Flat

$285,564

Flat from 2023

Expenses

Flat

$332,466

Flat from 2023

Net Income

Flat

-$46,902

Flat from 2023

Historical Trend

Balance Sheet Trend

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 2023: $303,107Liabilities 2023: $22,207Net Assets 2023: $280,9002023Assets 2024: $496,575Liabilities 2024: $21,459Net Assets 2024: $475,1162024

Highlighted filing

2023

Assets$303,107
Liabilities$22,207
Net Assets$280,900
Open 2023 Filing

Operations Trend

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 2023: $285,564Expenses 2023: $332,466Net Income 2023: -$46,9022023Revenue 2024: $933,358Expenses 2024: $739,142Net Income 2024: $194,2162024

Highlighted filing

2023

Revenue$285,564
Expenses$332,466
Net Income-$46,902
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Dec 19, 2024
Return Version
2023v5.1
Gross Receipts
$301,237
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$303,447$287,932▼ $15,515
Accounts Receivable$42,184$0▼ $42,184
Prepaid Expenses and Deferred Charges$1,071$0▼ $1,071
Pledges and Grants Receivable-$1,000-
Savings and Temporary Cash Investments-$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$373,210$303,107▼ $70,103
Other Assets Total$26,508$14,175▼ $12,333
Liabilities
Other Liabilities$30,882$12,968▼ $17,914
Accounts Payable and Accrued Expenses$14,526$9,239▼ $5,287
Total Liabilities$45,408$22,207▼ $23,201
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$327,601$280,900▼ $46,701
Net Assets With Donor Restrictions$201--
Total Net Assets Fund Balance$327,802$280,900▼ $46,902
Total Liabilities and Net Assets / Fund Balance$373,210$303,107▼ $70,103
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Felicia Slaton-youngPresident&edFT$60,025$60,025

Board Members and Trustees

NameTitle
Ciera WhitakerDirector
Nanette TuckerDirector
Rachael TurnerDirector
Morgan MalloneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$280,314
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$5,250
All Other Contributions
$260,000
Change in Net Assets
$-46,902

Audited Revenue Reconciliation

Revenue per Audited Statements
$285,564
Total Revenue per Audited Statements
$285,564
Total Revenue per Form 990
$285,564
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$217,998
Other Expenses$114,468
Total Fundraising Expense$33,017
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$117,917$13,671$4,105$135,693
Current Officers, Directors, Trustees, and Key Employees$33,014$6,002$21,009$60,025
Fees for Services Accounting-$32,002-$32,002
Payroll Taxes$13,226$2,317$2,200$17,743
Occupancy-$13,830-$13,830
Advertising$4,527$4,200-$8,727
Office Expenses$5,885$2,805-$8,690
Other Employee Benefits$3,381$593$563$4,537
Other Expenses$1,250$1,398$208$2,856
Information Technology$1,535$1,161-$2,696
Insurance-$2,312-$2,312
All Other Expenses-$100$1,000$1,100
Travel$443$56$73$572
Total Functional Expenses$216,117$83,332$33,017$332,466

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$332,466
Total Expenses per Audited Statements$332,466
Total Expenses per Form 990$332,466
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$20,923
Fundraising Direct Expenses$15,673
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
ENGLEWOOD'S GLOBAL VISION$36,040$20,923-$20,923
Total Events$36,040$20,923$15,673$5,250
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$12,968
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
2024-12-19
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 2023 and 2022 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, 2023 and December 31, 2022, management has determined that there were no material uncertain tax positions.”

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IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt05000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01956087
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0243
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0243
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99990
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt01956087
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0285564
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0311762
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0327841
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01025920
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt05000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01956087
IRS990ScheduleA/TotalSupportAmt01956330
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/ExpensesSubtotalAmt0332466
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt012968
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OPERATING LEASE LIABILITY
IRS990ScheduleD/RevenueSubtotalAmt0285564
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 2023 and 2022 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, 2023 and December 31, 2022, management has determined that there were no material uncertain tax positions.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalLiabilityAmt012968
IRS990ScheduleD/TotalRevenuePerForm990Amt0285564
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0285564
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0332466
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt015117
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt015117
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt015673
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent1Amt01200
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt01200
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ENGLEWOOD'S GLOBAL VISION
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt014473
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt014473
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt036040
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt036040
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt020923
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt020923
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt05250
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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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IRS990/TotalEmployeeCnt05
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt083332
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0216117
IRS990/TotalFunctionalExpensesGrp/TotalAmt0332466
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt045408
IRS990/TotalLiabilitiesEOYAmt022207
IRS990/TotalLiabilitiesGrp/BOYAmt045408
IRS990/TotalLiabilitiesGrp/EOYAmt022207
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0327802
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0280900
IRS990/TotalProgramServiceExpensesAmt0216117
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt060025
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0285564
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0373210
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0303107
IRS990/TravelGrp/FundraisingAmt073
IRS990/TravelGrp/ManagementAndGeneralAmt056
IRS990/TravelGrp/ProgramServicesAmt0443
IRS990/TravelGrp/TotalAmt0572
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0825 W 69TH STREET 2ND F
IRS990/USAddress/CityNm0CHICAGO
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060621
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0https://www.gechamber.com/gecf
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0FELICIA SLATON-YOUNG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-12-19

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$303,107
Liabilities
$22,207
Net assets
$280,900
Revenue
$285,564
Expenses
$332,466
Net income
-$46,902
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
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