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The First Spoke Foundation

Chicago, ILUnknown exempt organization EIN 20-0894628Revenue $2.4M in FY2023

On file with the IRS30 South Wells Street No 4049 · Chicago, IL

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The foundation is organized to foster, promote, support, develop, encourage and maintain the broad charitable, educational and/or religious purposes of, the Jewish Federation of Metropolitan Chicago and the foundation as authorized in their by-laws.

100¢ of each $1 spent went to programs.
Run by 3 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 4
filings with a surplus
Average deficit $4.3M a year · 208% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Named funders
1
named funder · $1.8M
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.4M
-47% vs prior year
Spent
$3.3M
To programs
100%
Net assets
$0
By yearFY2020–FY2023
Revenue
$2.4M
FY2023▼ -47%
Tap a bar for its year
Revenue by fiscal year
FY2020$816K
FY2021$553K
FY2022$4.5M
FY2023$2.4M
Expenses
$3.3M
FY2023▼ -74%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.6M
FY2021$4.5M
FY2022$12.9M
FY2023$3.3M
Net assets
$0
FY2023▼ -100%
Tap a bar for its year
Net assets by fiscal year
FY2020$11.3M
FY2021$9.1M
FY2022$343K
FY2023$0

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $3.3M Management & general 0% · $12K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Boaz Blumovitz
Assistant Treasurer
$0Pt VII · Sec A
James a Pinkston
Assistant Treasurer
$0Pt VII · Sec A
Rose Jagust
Assistant Secretary
$0Pt VII · Sec A
Adam Levine
Vice President
$0Pt VII · Sec A
See The First Spoke Foundation executive salaries →

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Something off? Claim to add context

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides grants to 501(c)(3) charitable organizations that support the philanthropic, educational, and religious mission of the Jewish Federation of Metropolitan Chicago.

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Provided by the organization

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1 program · $3.3M · in their own filed words · FY2022
01

The Foundation makes grants to charitable organizations, all of which meet the guidelines of the by-laws of the Foundation and the charter of the Jewish Federation of Metropolitan Chicago. All of these organizations are exempt under IRC Section 501(c)(3).

$3.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2022
Fidelity Investments Charitable Gift FundFY2022$1.8M
Total grants receivedfrom 1 funder$1.8M
Grants paid · 126 grants · $25.1M · 2019–2022
The Partnership Project INCDC · FY2022$650,000
Carbon Mapper INCCA · FY2022$500,000
Birthright Israel FoundationNY · FY2022$500,000
Secure Community Network INCIL · FY2022$277,500
United States Energy FoundationCA · FY2022$250,000
Jewish Federation of Metropolitan ChicagoIL · FY2022$150,497
The Jewish Federations of North America INCNY · FY2022$100,000
New Venture FundDC · FY2022$100,000
Everytown for Gun Safety Support Fund INCNY · FY2022$100,000
All Chicago Making Homelessness HistoryIL · FY2022$100,000
Yale UniversityCT · FY2022$75,000
Family Christian Health CenterIL · FY2022$70,000
Northshore University HealthsystemIL · FY2022$60,000
University of ChicagoIL · FY2022$50,000
Rockefeller Philanthropy Advisors INCNY · FY2022$50,000
National Louis UniversityIL · FY2022$50,000
City Colleges of Chicago FoundationIL · FY2022$50,000
Childrens First Fund the Chicago Public School FoundationIL · FY2022$50,000
See all 126 grants →

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.4M
Ln 12
Gifts and grantsLn 1h$2.3M
Investment incomeLn 3$52K
Money outPt IX
$3.3M
Ln 25
Programscol B$3.3M
Managementcol C$12K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.3M
Investment incomeLn 3$52K
Gains on assetsLn 7$31K
Total revenueLn 12$2.4M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$15$0
InvestmentsLn 11–13$7.8M$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$7.8M$0
LiabilitiesLn 26$7.4M$0
Net assetsLn 32$343K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$3.3M$3.3M
Accounting feesLn 11c$7K$7K
Investment management feesLn 11f$4K$4K
Other expenses (24a–d)Ln 24$15$15
Total functional expensesLn 25$3.3M$3.3M$12K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $2.4M$3.3M−$944K$0 990 PDF
FY2022 $4.5M$12.9M−$8.4M$343K 990 PDF
FY2021 $553K$4.5M−$3.9M$9.1M 990 PDF
FY2020 $816K$4.6M−$3.8M$11.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $2,372,693 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,154,382$2,321,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $326,022$51,693
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $4,480,404$2,372,693
I-13 Grants and similar amounts paidPrior year $12,861,250$3,304,997
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $35,738$11,897
I-18 Total expensesPrior year $12,896,988$3,316,894
I-19 Revenue less expensesPrior year −$8,416,584−$944,201
Part VI · Governance 2 of 3 board members independent, 2 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,372,693 across 5 lines filed
VIII-1f All other contributions, gifts and grants$2,321,000
VIII-1h Total contributions, gifts and grants$2,321,000
VIII-3 Investment incomeExcluded from tax $20,278$20,278
VIII-7 Net gain or loss on sales of assetsExcluded from tax $31,415$31,415
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $51,693$2,372,693
Part IX · Statement of functional expenses $3,316,894 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $3,304,997$3,304,997
IX-11c Accounting feesManagement $7,400$7,400
IX-11f Investment management feesManagement $4,482$4,482
IX-24 Other expenses (24a–d)Management $15$15
IX-25 Total functional expensesPrograms $3,304,997 · Management $11,897 · Fundraising $0$3,316,894
Part X · Balance sheet $0 assets, 19 lines filed
X-1 Cash, non-interest-bearing$0
X-2 Savings and temporary cash investmentsStart of year $15$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securitiesStart of year $7,771,194$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $7,771,209$0
X-17 Accounts payable and accrued expensesStart of year $3,650$0
X-18 Grants payableStart of year $7,425,000$0
X-26 Total liabilitiesStart of year $7,428,650$0
X-27 Net assets without donor restrictionsStart of year $342,559$0
X-32 Total net assets or fund balancesStart of year $342,559$0
X-33 Total liabilities and net assetsStart of year $7,771,209$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$2,372,693
XI-2 Total expenses$3,316,894
XI-3 Revenue less expenses−$944,201
XI-4 Net assets at start of year$342,559
XI-5 Net unrealized gains (losses) on investments$101,110
XI-9 Other changes in net assets$500,532
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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