Chicago Tech Academy FY2023 filing

Tax-deductible

Chicago, IL501(c)(3)Since 2007EducationEIN 26-0414040

Educate, empower and connect a diverse next generation of entrepreneurial thinkers to discover their passions, succeed in post-secondary life and thrive in a digital world.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$253K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $361K a year · 6% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$253K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $18K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$455K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.0M
+7% vs prior year
Spent
$6.9M
To programs
84%
Net assets
$2.1M
By yearFY2020–FY2024
Revenue
$7.0M
FY2023▲ +7%
Revenue by fiscal year
FY2020$4.2M
FY2021$5.8M
FY2022$6.6M
FY2023$7.0M
FY2024$7.1M
FY2024$6.4M
Expenses
$6.9M
FY2023▲ +16%
Expenses by fiscal year
FY2020$4.1M
FY2021$4.9M
FY2022$6.0M
FY2023$6.9M
FY2024$7.0M
FY2024$6.7M
Net assets
$2.1M
FY2023▲ +4%
Net assets by fiscal year
FY2020$575K
FY2021$1.5M
FY2022$2.1M
FY2023$2.1M
FY2024$2.3M
FY2024$2.1M

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

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Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CChicago Tech Academy
EINHdr · item D26-0414040
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJul 2014
Year of formationHdr · item L2007
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CChicago, IL
NTEE classificationIRS BMFEducation (B20)
WebsiteHdr · item Jwww.chitech.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.84 Management & general $0.15 Fundraising $0.01
Program services84%$5.8M
Management & general15%$1.0M
Fundraising1%$76K
Total functional expensesLn 25$6.9M

Finances

Money in and out, what it owns and owes

Spent on programs
84%
of spending reaches programs
Months of spending covered by cash
3.7mo
months of spending covered by cash and easy-to-sell investments
Surplus or deficit
+1%
as % of revenue, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$2.6M
FY2023▼ -2%
Total assets by fiscal year
FY2020$1.3M
FY2021$1.9M
FY2022$2.7M
FY2023$2.6M
FY2024$2.5M
FY2024$2.3M
Total liabilities
$455K
FY2023▼ -24%
Total liabilities by fiscal year
FY2020$711K
FY2021$433K
FY2022$601K
FY2023$455K
FY2024$198K
FY2024$238K
Revenue less expensesPt I · Ln 19$91K
Total assetsPt X · Ln 16$2.6M
Spent on programsPt IX · col B84%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Balance Sheet

Part X · end of year
CashLn 1$2.1M
Total assetsLn 16$2.6M
Total liabilitiesLn 26$455K
Total net assetsLn 32$2.1M
Months of cash on handcomputed3.7

Statement of Revenue

Part VIII
Contributions & grants$7.0M · 99%
Program service revenue$38K · 1%
Contributions & grants99%$7.0M
Program service revenue1%$38K
— government grantsLn 1e$6.5M
Total revenueLn 12$7.0M

Money in detail

Form 990 · FY2023 · each figure shown with the dollars behind it
Cash and giving out
Months of spending covered by cash
Cash and easy-to-sell investments $2.1M · Operating expenses/yr $6.9M
3.7 months
Where the money goes
Program services
Program services $5.8M · Total expenses $6.9M
84%
Management & General
Management & general $1.0M · Total expenses $6.9M
15%
Fundraising
Fundraising $76K · Total expenses $6.9M
1%
Cost to raise $1
Fundraising expense (3-yr avg) $92K · Solicited contributions (3-yr avg) $435K
$0.21 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $7.0M · Total revenue $7.0M
99%
Government reliance
Government grants $6.5M · Total revenue $7.0M
93%
Earned-income share
Program service revenue $38K · Total revenue $7.0M
0.5%
Investment reliance
Investment income $0 · Total revenue $7.0M
0%
Program self-sufficiency
Program service revenue $38K · Total expenses $6.9M
0.5%
Growth & trend
Revenue change from last year
This year $7.0M · Prior year $6.6M
+7%
Net assets change over the year
End of year $2.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus or deficit, as % of revenue
Revenue $7.0M · Expenses $6.9M
+1%
Debts compared to what it owns
Total liabilities — · Total assets $2.6M
—
Net assets compared to what it owns
Net assets $2.1M · Total assets $2.6M
83%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.6M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Demarco Hughes · Reported title DEP DIRECTOR, CULTURE & CLIMATE · Highest reported compensation $110K · Total expenses $6.9M
2%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $4.1M · Total expenses $6.9M
59%
Peer comparison

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

MetricThis orgPeer medianPercentile
Spent on programs 84%——
Spent on management, % of spending 15%——
Fundraising cost, % of gifts 1%——
Revenue growth 7%——
Legal fees, % of spending 0.1%——
Accounting fees, % of spending 0.5%——

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

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Dep Director, Culture & Climate
$110,239Pt VII · Sec A
School Principal
$85,687Pt VII · Sec A
Executive Director
$57,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Demarco Hughes’s $133K as Assistant Principal is at the 55th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Matt Moeller$126,000$166,500$57,000———
Demarco Hughes$132,959$113,564$110,239———
Keith Palz——$85,687$131,664$129,787$63,286
Tiara Wheatley———$125,468$124,202$102,455
Christina Laino—$80,004————
Zataya Shackelford$67,422—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Chicago Tech Academy executive salaries →

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Governance & Policies

Part VI
  • 9Voting board membersPt VI · Ln 1a
  • 9Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Empowers young entrepreneurs with skills and connections to succeed in college, careers, and a digital world.

Provided by the organization

This section is blank until Chicago Tech Academy claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $5.8M of program spending, described in the organization's own filed words · FY2022.
01

We believe in (1) project based learning to encourage a deeper, connected form of evidence based education. (2) an integrated college preparatory curriculum that fosters critical thinking and intellectual curiosity.

$5.8Mprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 3 funders$18K
See all 3 funders →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $7.1M$7.0M+2% 990 PDF
FY2023 Viewing $7.0M$6.9M+7% 990 PDF
FY2022 $6.6M$6.0M+14% 990 PDF
FY2021 $5.8M$4.9M+39% 990 PDF
FY2020 $4.2M$4.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Full filing: Form 990 for FY2023

Every line we hold from the return, cited to its Part and line.
Part VIII · Statement of revenue $7,011,672 across 8 lines filed
VIII-1c Fundraising events$113,500
VIII-1e Government grants$6,522,793
VIII-1f All other contributions, gifts and grants$338,921
VIII-1h Total contributions, gifts and grants$6,975,214
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $37,511$37,511
VIII-8 Net income from fundraising eventsExcluded from tax −$2,543−$2,543
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,490$1,490
VIII-12 Total revenueRelated to mission $37,511 · Unrelated business $0 · Excluded from tax −$1,053$7,011,672
Part IX · Statement of functional expenses $6,921,066 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $151,153 · Management $184,163 · Fundraising $344$335,660
IX-7 Other salaries and wagesPrograms $2,765,683 · Management $361,142 · Fundraising $6,122$3,132,947
IX-8 Pension plan contributionsPrograms $218,965 · Management $29,389 · Fundraising $498$248,852
IX-9 Other employee benefitsPrograms $135,064 · Management $18,128 · Fundraising $307$153,499
IX-10 Payroll taxesPrograms $196,425 · Management $26,365 · Fundraising $446$223,236
IX-11b Legal feesManagement $8,234$8,234
IX-11c Accounting feesManagement $36,000$36,000
IX-11g Other fees for servicesPrograms $699,201 · Management $37,025 · Fundraising $519$736,745
IX-12 Advertising and promotionPrograms $105,804 · Management $69,057 · Fundraising $65,470$240,331
IX-13 Office expensesPrograms $22,897 · Management $25,975 · Fundraising $52$48,924
IX-16 OccupancyPrograms $559,308 · Management $64,392 · Fundraising $1,273$624,973
IX-17 TravelPrograms $4,325 · Management $498 · Fundraising $10$4,833
IX-20 InterestPrograms $701$701
IX-22 Depreciation, depletion and amortizationPrograms $56,283 · Management $6,480 · Fundraising $127$62,890
IX-23 InsurancePrograms $59,452 · Management $6,845 · Fundraising $135$66,432
IX-24 Other expenses (24a–d)Programs $831,951 · Management $164,626 · Fundraising $232$996,809
IX-25 Total functional expensesPrograms $5,807,212 · Management $1,038,319 · Fundraising $75,535$6,921,066
Part X · Balance sheet $2,603,479 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,778,417$2,117,824
X-3 Pledges and grants receivableStart of year $450,465$76,966
X-9 Prepaid expenses and deferred chargesStart of year $201,941$203,666
X-10c Land, buildings and equipment, netStart of year $160,022$136,115
X-15 Other assetsStart of year $0$68,908
X-16 Total assetsStart of year $2,658,345$2,603,479
X-17 Accounts payable and accrued expensesStart of year $600,835$386,455
X-25 Other liabilitiesStart of year $0$68,908
X-26 Total liabilitiesStart of year $600,835$455,363
X-27 Net assets without donor restrictionsStart of year $2,057,510$2,148,116
X-32 Total net assets or fund balancesStart of year $2,057,510$2,148,116
X-33 Total liabilities and net assetsStart of year $2,658,345$2,603,479
Part XI · Reconciliation of net assets $2,148,116 net assets at year end
XI-1 Total revenue$7,011,672
XI-2 Total expenses$6,921,066
XI-3 Revenue less expenses$90,606
XI-4 Net assets at start of year$2,057,510
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,148,116

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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