Big Shoulders Fund

Tax-deductible

Chicago, IL501(c)(3)Since 1986EducationEIN 36-3490557Revenue $53.2M in FY2025

On file with the IRSbigshouldersfund.org212 W Van Buren St Ste 900, 60607-3974 · Chicago, ILTax-exempt since Mar 1987Publicly supported charity — 170(b)(1)(A)(vi)

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We provide support to high need schools which provide a quality, values-based education for Chicago's children. In 2020, Big Shoulders Fund's programming was extended to the Northwest Indiana region.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Run by 2,523 volunteers and 56 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $7.0M a year · 12% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.3M
to officers and key staff · 4% of spending
Top officer’s pay higher than 93% of similar orgs
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $782K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$22.7M
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
32
of 32 voting members
Looks good: 32 of 32 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$53.2M
-37% vs prior year
Spent
$54.9M
To programs
94%
Net assets
$129.4M
By yearFY2020–FY2025
Revenue
$53.2M
FY2025▼ -37%
Tap a bar for its year
Revenue by fiscal year
FY2020$31.8M
FY2021$61.7M
FY2022$62.9M
FY2023$65.7M
FY2024$84.8M
FY2025$53.2M
Expenses
$54.9M
FY2025▼ -28%
Tap a bar for its year
Expenses by fiscal year
FY2020$33.2M
FY2021$42.1M
FY2022$52.6M
FY2023$58.9M
FY2024$75.9M
FY2025$54.9M
Net assets
$129.4M
FY2025▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2020$80.4M
FY2021$95.4M
FY2022$106.9M
FY2023$112.7M
FY2024$130.8M
FY2025$129.4M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1987.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $51.7M Management & general 3% · $1.9M Fundraising 2% · $1.4M

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

42 people listed on the 990; $2.3M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
President and Chief Executive Officer
$585,588Pt VII · Sec A
Chief Schools Officer
$292,828Pt VII · Sec A
Chief Financial Officer
$254,776Pt VII · Sec A
Chief Advancement & Development Officer
$204,800Pt VII · Sec A
Senior Director, Scholarships
$191,377Pt VII · Sec A
Managing Director, Plus Schools and Leadership
$171,161Pt VII · Sec A
Managing Director, Nwi
$166,775Pt VII · Sec A
Managing Director, School Operations and Patrons Program
$165,754Pt VII · Sec A

Joshua Hale’s $586K as President and Chief Executive Officer is at the 93rd percentile of top reported officer pay among 3683 $10–100M 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 · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Joshua Hale$585,588$559,793$539,967$498,042$474,883$517,916
Rebecca Lindsay-Ryan$292,828$279,482$268,704$210,567$195,808$195,085
Malcolm Douglas$254,776$255,478$243,698$211,616$198,344$203,951
Thomas Zbierski—$216,185$212,474$202,248$188,558$193,880
Amelia Drozda$204,800$194,671$187,662$168,510$156,869$160,541
John Moran———$106,997$185,418$195,152
Daniel Bennett$191,377$140,849————
Timothy Gallo$171,161—————

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 Big Shoulders Fund executive salaries →

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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 15aYes

Programs and updates

Supports high-need, values-based schools in Chicago and Northwest Indiana through academic enrichment, teacher training, capital improvements, and student leadership programs.

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Provided by the organization

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3 programs · $49.8M · in their own filed words · FY2024
01

School Operations

Distributed operating and capital grants to multiple schools in an effort to prevent school closures; also assisted schools in improving MARKETING/RECRUITING, building new external funding sources, improving school business operations, etc.

$24.1Mprogram expense
02

Student Scholarship Programs

Administered OVER90 distinct scholarship programs that include mentoring, enrichment and other support activities. 5,267 scholarships were awarded to 5,080 students at 120 elementary and high schools to enable them to attend non-public schools.

$13.6Mprogram expense
03

Academic Enrichment and Leadership Development

Big shoulders administers over 25 ongoing programs in 90 schools involving over 800 teachers and administrators to improve instruction and learning through leadership and professional development, professional learning communities and access to high quality curricula with focus on math, science, civics, and literacy.

$12.2Mprogram 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 · FY2025
Total grants receivedfrom 6 funders$782K
See all 6 funders →
Grants paid · 452 grants · $229.1M · 2019–2024
Unitemized GrantFY2024$12,115,022
St Sabina ChurchIL · FY2024$1,369,348
St Ethelreda ChurchIL · FY2024$1,223,850
St Francis De Sales High SchoolIL · FY2024$1,061,550
St Angela SchoolFY2024$917,202
Epiphany SchoolFY2024$895,883
St Constance SchoolFY2024$823,640
Visitation SchoolFY2024$799,930
St Sylvester Parish & SchoolIL · FY2024$712,399
Holy Angels SchoolIL · FY2024$707,608
St Malachy SchoolIL · FY2024$621,509
Augustus Tolton AcademyIL · FY2024$597,540
St Ailbe SchoolFY2024$573,468
Children of Peace SchoolIL · FY2024$561,240
See all 452 grants →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$53.2M
Ln 12
Gifts and grantsLn 1h$42.5M
Investment incomeLn 3$10.5M
Fees for servicesLn 2g$131K
Money outPt IX
$54.9M
Ln 25
Programscol B$51.7M
Managementcol C$1.9M
Fundraisingcol D$1.4M
Owns and owesPt X
$129.4M
net assets · Ln 32
Cash and savingsLn 1–2$3.8M
Total assetsLn 16$152.1M
LiabilitiesLn 26$22.7M
PeoplePt VI, VII
42
listed · VII A
PaidVII A10
Voting boardVI 1a32
IndependentVI 1b32
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$42.5M
Government grantsLn 1e$705K
Noncash giftsLn 1g$2.9M
Fundraising eventsLn 1c$5.6M
Fees for servicesLn 2g$131K
Investment incomeLn 3$10.5M
Other incomeLn 4–11$30K
Gains on assetsLn 7$9.1M
Total revenueLn 12$53.2M
Assets in detailPt X, end of year
CashLn 1$76K
SavingsLn 2$3.8M
Cash and savings togetherLn 1–2$3.8M
InvestmentsLn 11–13$105.2M
Land, buildings, equipmentLn 10c$20K
Other assetsLn 15$2.1M
Total assetsLn 16$152.1M
LiabilitiesLn 26$22.7M
Net assetsLn 32$129.4M
OperationsPt I, VI
EmployeesI 556
VolunteersI 62,523
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 FY25End FY25
Cash and savingsLn 1–2$13.3M$3.8M
InvestmentsLn 11–13$100.0M$105.2M
Land, buildings, equipmentLn 10c$29K$20K
Total assetsLn 16$150.1M$152.1M
LiabilitiesLn 26$19.3M$22.7M
Net assetsLn 32$130.8M$129.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$29.4M$29.4M
Grants to domestic individualsLn 2$12.4M$12.4M
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$1.8M$1.1M$430K$216K
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$5.8M$4.5M$578K$657K
Pension plan contributionsLn 8$172K$138K$19K$15K
Other employee benefitsLn 9$572K$443K$66K$62K
Payroll taxesLn 10$502K$378K$65K$59K
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$3K$0$3K$0
Accounting feesLn 11c$89K$2K$86K$0
Lobbying feesLn 11d$0$0$0$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$62K$0$62K$0
Other fees for servicesLn 11g$2.1M$2.0M$122K$9K
Advertising and promotionLn 12$132K$93K$27K$12K
Office expensesLn 13$421K$182K$186K$52K
Information technologyLn 14$373K$190K$88K$95K
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$216K$108K$54K$54K
TravelLn 17$491K$452K$14K$25K
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$0$0$0$0
InterestLn 20$0$0$0$0
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$9K$5K$2K$2K
InsuranceLn 23$33K$18K$7K$7K
Other expenses (24a–d)Ln 24$374K$231K$53K$90K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$54.9M$51.7M$1.9M$1.4M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $53.2M$54.9M−$1.7M$129.4M 990 PDF
FY2024 $84.8M$75.9M$8.9M$130.8M 990 PDF
FY2023 $65.7M$58.9M$6.7M$112.7M 990 PDF
FY2022 $62.9M$52.6M$10.3M$106.9M 990 PDF
FY2021 $61.7M$42.1M$19.6M$95.4M 990 PDF
FY2020 $31.8M$33.2M−$1.4M$80.4M 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
See the full FY2025 990 (6 parts)
Part I · Summary $53,155,887 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $72,815,110$42,507,854
I-9 Program service revenuePrior year $166,541$130,909
I-10 Investment incomePrior year $11,128,285$10,487,082
I-11 Other revenuePrior year $666,688$30,042
I-12 Total revenuePrior year $84,776,624$53,155,887
I-13 Grants and similar amounts paidPrior year $63,152,854$41,830,502
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $7,669,821$8,758,777
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $5,066,334$4,295,588
I-18 Total expensesPrior year $75,889,009$54,884,867
I-19 Revenue less expensesPrior year $8,887,615−$1,728,980
Part VI · Governance 32 of 32 board members independent, 1 to look at
VI-1a Voting members of the governing body32
VI-1b Independent voting members32
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $53,155,887 across 15 lines filed
Lines not itemized here account for $65,950 of total revenue; see the IRS return.
VIII-1a Federated campaigns$13,060
VIII-1b Membership dues$0
VIII-1c Fundraising events$5,581,215
VIII-1d Related organizations$0
VIII-1e Government grants$704,510
VIII-1f All other contributions, gifts and grants$36,209,069
VIII-1g Noncash contributions (included above)$2,935,475
VIII-1h Total contributions, gifts and grants$42,507,854
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $130,909 · Unrelated business $0 · Excluded from tax $0$130,909
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $4,139 · Excluded from tax $1,359,619$1,363,758
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $9,123,324$9,123,324
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax −$35,908−$35,908
VIII-12 Total revenueRelated to mission $130,909 · Unrelated business $4,139 · Excluded from tax $10,512,985$53,155,887
Part IX · Statement of functional expenses $54,884,867 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $29,410,919$29,410,919
IX-2 Grants to domestic individualsPrograms $12,419,583$12,419,583
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $1,104,440 · Management $429,988 · Fundraising $215,675$1,750,103
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $4,528,771 · Management $577,813 · Fundraising $656,958$5,763,542
IX-8 Pension plan contributionsPrograms $137,565 · Management $19,368 · Fundraising $14,743$171,676
IX-9 Other employee benefitsPrograms $443,171 · Management $66,160 · Fundraising $62,416$571,747
IX-10 Payroll taxesPrograms $377,894 · Management $64,888 · Fundraising $58,927$501,709
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $0 · Management $2,569 · Fundraising $0$2,569
IX-11c Accounting feesPrograms $2,370 · Management $86,496 · Fundraising $0$88,866
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $62,500 · Fundraising $0$62,500
IX-11g Other fees for servicesPrograms $1,961,339 · Management $122,236 · Fundraising $9,120$2,092,695
IX-12 Advertising and promotionPrograms $93,414 · Management $27,251 · Fundraising $11,785$132,450
IX-13 Office expensesPrograms $181,889 · Management $186,344 · Fundraising $52,431$420,664
IX-14 Information technologyPrograms $190,140 · Management $87,559 · Fundraising $95,075$372,774
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $108,165 · Management $53,682 · Fundraising $53,682$215,529
IX-17 TravelPrograms $452,333 · Management $13,643 · Fundraising $25,400$491,376
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $0 · Fundraising $0$0
IX-20 InterestPrograms $0 · Management $0 · Fundraising $0$0
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $4,591 · Management $2,296 · Fundraising $2,296$9,183
IX-23 InsurancePrograms $17,928 · Management $7,417 · Fundraising $7,293$32,638
IX-24 Other expenses (24a–d)Programs $231,107 · Management $53,282 · Fundraising $89,955$374,344
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $51,665,619 · Management $1,863,492 · Fundraising $1,355,756$54,884,867
Part X · Balance sheet $152,085,991 assets, 23 lines filed
X-1 Cash, non-interest-bearingStart of year $432,083$76,230
X-2 Savings and temporary cash investmentsStart of year $12,874,869$3,765,796
X-3 Pledges and grants receivableStart of year $36,124,799$40,607,154
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $452,958$274,492
X-10c Land, buildings and equipment, netStart of year $29,037$19,855
X-11 Publicly traded securitiesStart of year $26,604,087$17,787,186
X-12 Other securitiesStart of year $73,398,614$87,413,699
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $218,383$2,141,579
X-16 Total assetsStart of year $150,134,830$152,085,991
X-17 Accounts payable and accrued expensesStart of year $1,518,394$1,202,263
X-18 Grants payableStart of year $16,919,074$18,773,078
X-19 Deferred revenueStart of year $392,235$404,000
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $0$2,130,502
X-26 Total liabilitiesStart of year $19,304,905$22,661,081
X-27 Net assets without donor restrictionsStart of year $41,875,236$39,896,440
X-28 Net assets with donor restrictionsStart of year $88,954,689$89,528,470
X-32 Total net assets or fund balancesStart of year $130,829,925$129,424,910
X-33 Total liabilities and net assetsStart of year $150,134,830$152,085,991
Part XI · Reconciliation of net assets $129,424,910 net assets at year end
XI-1 Total revenue$53,155,887
XI-2 Total expenses$54,884,867
XI-3 Revenue less expenses−$1,728,980
XI-4 Net assets at start of year$130,829,925
XI-9 Other changes in net assets$323,965
XI-10 Net assets at end of year$129,424,910

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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