PERT Foundation's exempt purpose is to support The Chicago Community Trust and The Chicago Community Foundation. During the tax year, PERT Foundation managed and stewarded charitable assets designated for the future support of The Chicago Community Trust and The Chicago Community Foundation. No grants were distributed during the year.

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

FY2024 · 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 $853K 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
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$317.1M
100% of total assets
Concern: liabilities are 100% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$311.7M
×23909 vs prior year
Spent
$318.1M
To programs
100%
Net assets
$224K
By yearFY2020–FY2025
Revenue
$311.7M
FY2024▲ ×23909
Tap a bar for its year
Revenue by fiscal year
FY2020−$79K
FY2021$887K
FY2022$791K
FY2023$13K
FY2024$311.7M
FY2025$10.5M
Expenses
$318.1M
FY2024▲ ×34179
Tap a bar for its year
Expenses by fiscal year
FY2020$960K
FY2021$5.7M
FY2022$4.2M
FY2023$9K
FY2024$318.1M
FY2025$88K
Net assets
$224K
FY2024▼ -45%
Tap a bar for its year
Net assets by fiscal year
FY2020$8.8M
FY2021$4.7M
FY2022$365K
FY2023$408K
FY2024$224K
FY2025$792K

From the FY2024 Form 990 (year ending September 2024) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2024 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 2003.

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% · $318.0M Management & general 0% · $77K

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 (FY2023); the FY2024 filing did not itemize Part VII
President and Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
See Pert Foundation 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 15aNo

Programs and updates

Supports and carries out charitable activities and vital human/educational services.

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Provided by the organization

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1 program · $318.0M · in their own filed words · FY2023
01

PERT Foundation is organized and operated to foster, support, develop, and maintain charitable activities and vital human and educational services by supporting and carrying out the charitable purposes of The Chicago Community Trust and The Chicago Community Foundation by such means as the board of directors of the organization may…

$318.0Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 80 grants · $328.5M · 2019–2023
Chicago Community FoundationIL · FY2023$318,021,564
Chicago Community FoundationIL · FY2021$2,125,000
The Chicago Community TrustIL · FY2021$450,000
Tides FoundationCA · FY2021$300,000
Crossroads Fund INCIL · FY2021$300,000
Chicago Public Media INCIL · FY2021$50,000
Illinois Arts AllianceIL · FY2021$50,000
Chicago Humanities FestivalIL · FY2021$50,000
Trillium ArtsNC · FY2021$25,000
Blues Kids FoundationIL · FY2021$20,000
Edward G Irvin FoundationIL · FY2021$20,000
See all 80 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$311.7M
Ln 12
Gifts and grantsLn 1h$311.7M
Investment incomeLn 3$67K
Other incomeLn 4–11$16
Money outPt IX
$318.1M
Ln 25
Programscol B$318.0M
Managementcol C$77K
Owns and owesPt X
$224K
net assets · Ln 32
Cash and savingsLn 1–2$28K
Total assetsLn 16$317.3M
LiabilitiesLn 26$317.1M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$311.7M
Investment incomeLn 3$67K
Other incomeLn 4–11$16
Gains on assetsLn 7$52K
Total revenueLn 12$311.7M
Assets in detailPt X, end of year
CashLn 1$9K
SavingsLn 2$19K
Cash and savings togetherLn 1–2$28K
InvestmentsLn 11–13$0
Other assetsLn 15$317.2M
Total assetsLn 16$317.3M
LiabilitiesLn 26$317.1M
Net assetsLn 32$224K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$33K$28K
InvestmentsLn 11–13$396K$0
Total assetsLn 16$429K$317.3M
LiabilitiesLn 26$21K$317.1M
Net assetsLn 32$408K$224K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$318.0M$318.0M
Legal feesLn 11b$36K$36K
Investment management feesLn 11f$3K$3K
Other fees for servicesLn 11g$29K$29K
Office expensesLn 13$10$5$5
OccupancyLn 16$2K$830$830
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$5K$2K$2K
Total functional expensesLn 25$318.1M$318.0M$77K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $10.5M$88K$10.4M$792K 990 PDF
FY2024 Viewing $311.7M$318.1M−$6.4M$224K 990 PDF
FY2023 $13K$9K$4K$408K 990 PDF
FY2022 $791K$4.2M−$3.4M$365K 990 PDF
FY2021 $887K$5.7M−$4.8M$4.7M 990 PDF
FY2020 −$79K$960K−$1.0M$8.8M 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 FY2024 990 (6 parts)
Part I · Summary $311,720,445 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$311,653,014
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $13,021$67,415
I-11 Other revenuePrior year $17$16
I-12 Total revenuePrior year $13,038$311,720,445
I-13 Grants and similar amounts paidPrior year $0$318,021,564
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 $9,307$80,397
I-18 Total expensesPrior year $9,307$318,101,961
I-19 Revenue less expensesPrior year $3,731−$6,381,516
Part VI · Governance 4 of 5 board members independent, 5 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $311,720,445 across 5 lines filed
Lines not itemized here account for $16 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$311,653,014
VIII-1h Total contributions, gifts and grants$311,653,014
VIII-3 Investment incomeExcluded from tax $15,528$15,528
VIII-7 Net gain or loss on sales of assetsExcluded from tax $51,887$51,887
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $67,431$311,720,445
Part IX · Statement of functional expenses $318,101,961 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $318,021,564$318,021,564
IX-11b Legal feesManagement $35,697$35,697
IX-11f Investment management feesManagement $3,358$3,358
IX-11g Other fees for servicesManagement $29,474$29,474
IX-13 Office expensesPrograms $5 · Management $5$10
IX-16 OccupancyPrograms $830 · Management $830$1,660
IX-23 InsuranceManagement $5,198$5,198
IX-24 Other expenses (24a–d)Programs $2,500 · Management $2,500$5,000
IX-25 Total functional expensesPrograms $318,024,899 · Management $77,062 · Fundraising $0$318,101,961
Part X · Balance sheet $317,276,071 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $9,069$9,069
X-2 Savings and temporary cash investmentsStart of year $23,791$18,950
X-11 Publicly traded securitiesStart of year $396,101$0
X-15 Other assetsStart of year $0$317,248,052
X-16 Total assetsStart of year $428,961$317,276,071
X-17 Accounts payable and accrued expensesStart of year $20,526$36,683
X-18 Grants payableStart of year $0$317,015,381
X-26 Total liabilitiesStart of year $20,526$317,052,064
X-27 Net assets without donor restrictionsStart of year $408,435−$317,024,045
X-28 Net assets with donor restrictions$317,248,052
X-32 Total net assets or fund balancesStart of year $408,435$224,007
X-33 Total liabilities and net assetsStart of year $428,961$317,276,071
Part XI · Reconciliation of net assets $224,007 net assets at year end
XI-1 Total revenue$311,720,445
XI-2 Total expenses$318,101,961
XI-3 Revenue less expenses−$6,381,516
XI-4 Net assets at start of year$408,435
XI-5 Net unrealized gains (losses) on investments−$11,596
XI-9 Other changes in net assets$6,208,684
XI-10 Net assets at end of year$224,007

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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