Chicago Loop Alliance Foundation EIN 16-1765590 Form 990 (PDF) Claim this org

Chicago Loop Alliance Foundation FY2022 filing

Not yet claimed Claim this org →

Promotes artistic, cultural, and public events to benefit Chicago Loop businesses and residents. For fiscal year 2022 it reported $788K in revenue, $738K in expenses, and $361K in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Chicago, IL
Website
www.loopchicago.com
Filings
5 on file (2020–2022)
Revenue
$788KFY2022
Expenses
$738K
Net assets
$361K
People
55
Filings
5
Updates
0
More identity details & actions ⌄
EIN  16-1765590 Public charity (501(c)(3)) Chicago, IL
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
Compare with another nonprofit →
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until Chicago Loop Alliance Foundation claims this page.

Know this organization? Claim it to add your story

Size
$100K–1M
What they do
Promotes artistic, cultural, and public events to benefit Chicago Loop businesses and residents.
Leadership
James Turner · Immediate Past Chairman
Money in and out
$788K revenue, $738K expenses
Bottom line
79% program efficiency
Where the money goes · FY2022
Total revenue
$788K
Pt VIII · Ln 12
Total expenses
$738K
Pt IX · Ln 25
Net assets
$361K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $51K
Where spending went · Part IX cols B–D
Program services $0.79 Management & general $0.21
Program efficiency
79%
of spending reaches programs
Operating runway
2.3mo
months of highly liquid reserves at operating expense rate
Surplus margin
+6%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$788K
FY2022▲ +52%
Expenses
$738K
FY2022▲ +41%
Total assets
$521K
FY2022▲ +34%
Total liabilities
$159K
FY2022▲ +106%
Total revenue
$788K
Pt VIII · Ln 12
Total expenses
$738K
Pt IX · Ln 25
Net assets
$361K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$51K
Total assetsPt X · Ln 16$521K
Program-expense ratioPt IX · col B79%
Voting members of governing bodyPt I · Ln 355
Independent voting membersPt I · Ln 455

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CChicago Loop Alliance Foundation
EINHdr · item D16-1765590
Principal addressHdr · item CChicago, IL
WebsiteHdr · item Jwww.loopchicago.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B99)
Ruling yearIRS BMFDec 2007

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a55
Independent voting membersPt VI · Ln 1b55
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Immediate Past Chairman
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Honorary Board
$0Pt VII · Sec A
$0Pt VII · Sec A
Honorary Board
$0Pt VII · Sec A
$0Pt VII · Sec A
See Chicago Loop Alliance Foundation executive salaries →

Are you one of these people? Claim this org to confirm your role

Mission & Programs · Part III

Where the work happens

1 program service account for $579K of program spending, described in the organization's own filed words · FY2022.
01

The mission of the Chicago Loop Alliance Foundation (CLAF). a 501 (c)(3) corporation, is to develop, support and promote artistic, cultural, and public events that benefit businesses, individuals and stakeholders within in the service area of Chicago Loop Alliance (CLA)

$579Kprogram expense

Run this program? Claim this org to tell your story

Statement of Revenue

Part VIII
Program service revenue$669K · 85%
Other revenue$119K · 15%
Program service revenue85%$669K
Other revenue15%$119K
Total revenueLn 12$788K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.79 Management & general $0.21
Program services79%$579K
Management & general21%$158K
Total functional expensesLn 25$738K

Balance Sheet

Part X · end of year
CashLn 1$141K
Total assetsLn 16$521K
Total liabilitiesLn 26$159K
Total net assetsLn 32$361K
Months of cash on handcomputed2.3

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $141K · Operating expenses/yr $738K
2.3 months
Where the money goes
Program services
Program services $579K · Total expenses $738K
79%
Management & General
Management & general $158K · Total expenses $738K
21%
Fundraising
Fundraising $0 · Total expenses $738K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $788K
0%
Government reliance
Government grants — · Total revenue $788K
Earned-income share
Program service revenue $669K · Total revenue $788K
85%
Investment reliance
Investment income $0 · Total revenue $788K
0%
Program self-sufficiency
Program service revenue $669K · Total expenses $738K
91%
Growth & trend
Revenue growth (YoY)
This year $788K · Prior year $518K
+52%
Net-asset trend (YoY)
End of year $361K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $788K · Expenses $738K
+6%
Liabilities-to-Assets
Total liabilities — · Total assets $521K
Net-asset ratio
Net assets $361K · Total assets $521K
69%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $521K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual James Turner · Reported title Immediate Past Chairman · Highest reported compensation $0 · Total expenses $738K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $738K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 79%
Overhead ratio 21%
Revenue growth 52%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$50K

Similar Organizations

Closest in mission — by what they do
See all organizations like Chicago Loop Alliance Foundation →

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$506K revenue · ⤓ 990 PDF
FY2023$541K revenue · ⤓ 990 PDF
FY2022$788K revenue · viewing · ⤓ 990 PDF
FY2021$518K revenue · ⤓ 990 PDF
FY2020$193K revenue · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.