Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1990.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
95 cents of each dollar spent went to programs.
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
16 people listed on the 990; $2.5M paid to officers and key staff.
Timothy Knight’s $544K as President & Chief Executive Officer is at the 60th percentile of top reported officer pay among 129 $100M+ philanthropy & grantmaking 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
| Name | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|
| Timothy Knight | $544,236 | $428,809 | $505,362 | — |
| David Hiller Thru 32320 | — | — | — | $417,902 |
| Carla Beal | $400,741 | $43,269 | — | — |
| Donald Cooke | — | $240,849 | $355,231 | $349,493 |
| Timothy Knight from 32320 | — | — | — | $346,484 |
| David Granat | $176,676 | $300,274 | $289,410 | $279,600 |
| Cornelia Grumman | — | — | $260,069 | $236,440 |
| Rebekah Levin | — | — | — | $219,625 |
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.
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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 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Funds and supports community programs in Chicagoland to improve early childhood education, youth development, and civic engagement.
Questions for Robert R McCormick Foundation
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Grants (and related administration) made to organizations in the foundation's grant making program areas.
The foundation supports charitable organizations across the chicago region in their fundraising efforts through sponsorships, table purchases, ticket purchases, and other donations to improve the organizations' sustainability and community impact.
Evaluation and support of programs in furtherance of the foundation's mission to support youth and early childhood education.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $54.0M | $70.6M |
| InvestmentsLn 11–13 | $1.41B | $1.56B |
| Land, buildings, equipmentLn 10c | $296K | $426K |
| Total assetsLn 16 | $1.47B | $1.64B |
| LiabilitiesLn 26 | $63.1M | $40.6M |
| Net assetsLn 32 | $1.40B | $1.60B |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $69.9M | $69.9M | ||
| Pay of current officers, directors and key staffLn 5 | $2.0M | $1.0M | $938K | $17K |
| Other salaries and wagesLn 7 | $1.5M | $839K | $632K | $14K |
| Pension plan contributionsLn 8 | $390K | $246K | $142K | $2K |
| Other employee benefitsLn 9 | $332K | $220K | $106K | $6K |
| Payroll taxesLn 10 | $209K | $135K | $72K | $2K |
| Legal feesLn 11b | $168K | $168K | ||
| Accounting feesLn 11c | $203K | $203K | ||
| Investment management feesLn 11f | $616K | $616K | ||
| Other fees for servicesLn 11g | $230K | $48K | $157K | $25K |
| Advertising and promotionLn 12 | $1K | $1K | ||
| Office expensesLn 13 | $121K | $29K | $36K | $56K |
| Information technologyLn 14 | $116K | $987 | $115K | |
| OccupancyLn 16 | $342K | $333K | $8K | |
| TravelLn 17 | $53K | $33K | $20K | |
| Conferences, conventions and meetingsLn 19 | $115K | $86K | $29K | |
| InterestLn 20 | $56K | $56K | ||
| Depreciation, depletion and amortizationLn 22 | $782K | $782K | ||
| InsuranceLn 23 | $158K | $158K | ||
| Other expenses (24a–d)Ln 24 | $964K | $939K | $25K | |
| All other expensesLn 24e | −$50K | −$50K | $82 | $149 |
| Total functional expensesLn 25 | $78.2M | $74.7M | $3.4M | $122K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $105.3M | $114.6M | −$9.3M | $1.7B | 990 PDF |
| FY2023 Viewing | $97.6M | $78.2M | $19.3M | $1.6B | 990 PDF |
| FY2022 | $64.9M | $102.9M | −$38.1M | $1.4B | 990 PDF |
| FY2021 | $106.9M | $62.1M | $44.9M | $1.7B | 990 PDF |
| FY2020 | $43.5M | $91.5M | −$48.0M | $1.5B | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $97,553,776 revenue, 12 lines filed
Part VI · Governance 6 of 6 board members independent, no flags
Part VIII · Statement of revenue $97,553,776 across 6 lines filed
Part IX · Statement of functional expenses $78,215,597 across 21 lines filed
Part X · Balance sheet $1,638,068,225 assets, 17 lines filed
Part XI · Reconciliation of net assets $1,597,466,250 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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