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Guaranteed Rate Foundation Nfp FY2020 filing

Tax-deductible

Chicago, IL501(c)(3)Since 2012Education EIN 45-4204135Revenue $8.2M in FY2020

On file with the IRSgr-foundation.org1800 W Larchmont Ave Ste 2, 60613-2448 · Chicago, ILTax-exempt since Feb 2014Publicly supported charity — 170(b)(1)(A)(vi)

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Foundation was created by Guaranteed Rate, INC. To fulfill charitable and benevolent purposes by providing support and assistance to families and persons in need and at times of crisis. With the financial assistance of private donors, the Foundation and its volunteers will collect money and items for donation as well as provide assistance in the sponsorship and organization of benefit drives. The Foundation intends to provide assistance to the public at large, but will focus its efforts, both in fundraising and aid distribution, in the real estate and mortgage origination communities throughout the united states. The collection and distribution efforts will benefit the recipients, foster a sense of community and encourage continued charitable activities.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
2 of 6
filings with a surplus
Average deficit $76K a year · 2% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $30K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.2M
Spent
$8.3M
To programs
100%
Net assets
$2.1M
By yearFY2020–FY2025
Revenue
$8.2M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$8.2M
FY2021$5.8M
FY2022$791K
FY2023$519K
FY2024$2.7M
FY2025$542K
Expenses
$8.3M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$8.3M
FY2021$6.1M
FY2022$1.1M
FY2023$677K
FY2024$2.5M
FY2025$443K
Net assets
$2.1M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$2.1M
FY2021$1.8M
FY2022$1.5M
FY2023$1.3M
FY2024$1.6M
FY2025$1.7M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2014.

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% · $8.3M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Scott Ubersox
Vice President, Director
$0Pt VII · Sec A
Kenneth Kane
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Victor Ciardelli
President, Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Guaranteed Rate Foundation Nfp 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

Helps families and individuals facing hardship or crisis with support and assistance.

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Provided by the organization

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1 program · $8.3M · in their own filed words · FY2020
01

The foundation provides financial support to people in situations arising from unforeseen hardship AND/OR emergency circumstances. Requests have ranged from food, clothing and shelter following a natural disaster to assisting with housing, transportation and outstanding bills as a result of a job loss or medical emergency.

$8.3Mprogram 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 · FY2024
Vanguard Charitable Endowment ProgramFY2024$20K
The Chicago Community TrustFY2024$10K
Total grants receivedfrom 2 funders$30K
Grants paid · 585 grants · $19.1M · 2020–2025
Plus One Heroes INCIL · FY2025$55,000
Unitemized GrantFY2025$20,000
Unitemized GrantFY2025$16,862
Unitemized GrantFY2025$15,922
Association of the United State Army INCVA · FY2025$15,000
Unitemized GrantFY2025$15,000
Unitemized GrantFY2025$14,200
Unitemized GrantFY2025$13,698
Armed Services YMCA of the USAVA · FY2025$13,321
Unitemized GrantFY2025$13,206
Unitemized GrantFY2025$11,376
Unitemized GrantFY2025$10,541
Unitemized GrantFY2025$10,437
All Veteran Group (michael L Elliott)FY2025$10,000
Unitemized GrantFY2025$9,800
Unitemized GrantFY2025$9,800
Unitemized GrantFY2025$8,844
Unitemized GrantFY2025$8,682
See all 585 grants →

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$8.2M
Ln 12
Gifts and grantsLn 1h$8.2M
Money outPt IX
$8.3M
Ln 25
Programscol B$8.3M
Owns and owesPt X
$2.1M
net assets · Ln 32
Cash and savingsLn 1–2$2.1M
Total assetsLn 16$2.1M
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8.2M
Fundraising eventsLn 1c$7K
Total revenueLn 12$8.2M
Assets in detailPt X, end of year
CashLn 1$2.1M
Cash and savings togetherLn 1–2$2.1M
Total assetsLn 16$2.1M
LiabilitiesLn 26$0
Net assetsLn 32$2.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$2.2M$2.1M
Total assetsLn 16$2.2M$2.1M
LiabilitiesLn 26$0$0
Net assetsLn 32$2.2M$2.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$8.3M$8.3M
Total functional expensesLn 25$8.3M$8.3M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $542K$443K$99K$1.7M 990 PDF
FY2024 $2.7M$2.5M$271K$1.6M 990 PDF
FY2023 $519K$677K−$158K$1.3M 990 PDF
FY2022 $791K$1.1M−$303K$1.5M 990 PDF
FY2021 $5.8M$6.1M−$280K$1.8M 990 PDF
FY2020 Viewing $8.2M$8.3M−$83K$2.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $8,244,822 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,117,687$8,244,822
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,117,687$8,244,822
I-13 Grants and similar amounts paidPrior year $805,132$8,327,417
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 $0$0
I-18 Total expensesPrior year $805,132$8,327,417
I-19 Revenue less expensesPrior year $312,555−$82,595
Part VI · Governance 12 of 12 board members independent, 3 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $8,244,822 across 6 lines filed
VIII-1c Fundraising events$6,952
VIII-1d Related organizations$4,816,967
VIII-1f All other contributions, gifts and grants$3,420,903
VIII-1h Total contributions, gifts and grants$8,244,822
VIII-8 Net income from fundraising eventsExcluded from tax $0$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$8,244,822
Part IX · Statement of functional expenses $8,327,417 across 1 line filed
IX-2 Grants to domestic individualsPrograms $8,327,417$8,327,417
IX-25 Total functional expensesPrograms $8,327,417 · Management $0 · Fundraising $0$8,327,417
Part X · Balance sheet $2,078,833 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $2,161,428$2,078,833
X-16 Total assetsStart of year $2,161,428$2,078,833
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $2,161,428$2,078,833
X-32 Total net assets or fund balancesStart of year $2,161,428$2,078,833
X-33 Total liabilities and net assetsStart of year $2,161,428$2,078,833
Part XI · Reconciliation of net assets $2,078,833 net assets at year end
XI-1 Total revenue$8,244,822
XI-2 Total expenses$8,327,417
XI-3 Revenue less expenses−$82,595
XI-4 Net assets at start of year$2,161,428
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,078,833

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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