Impact Grants Chicago EIN 82-1566221 Form 990 (PDF) Claim this org

Impact Grants Chicago

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Fund $100,000 grants to Chicago nonprofits addressing city challenges. For fiscal year 2025 it reported $693K in revenue, $603K in expenses, and $257K in net assets.Pt I

Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Chicago, IL
Website
www.impactgrantschicago.org
Filings
5 on file (2021–2025)
Revenue
$693KFY2025
Expenses
$603K
Net assets
$257K
People
19
Filings
5
Updates
0
More identity details & actions ⌄
EIN  82-1566221 Public foundation / grantmaker Chicago, IL
Form 990 (PDF)
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Size
$100K–1M
What they do
Fund $100,000 grants to Chicago nonprofits addressing city challenges.
Leadership
Maggie Schell · President
Money in and out
$693K revenue, $603K expenses
Bottom line
93% program efficiency
Grants paid & assets · FY2025
Total revenue
$693K
Pt VIII · Ln 12
Total expenses
$603K
Pt IX · Ln 25
Net assets
$257K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $90K
Where spending went · Part IX cols B–D
Program services $0.93 Management & general $0.07
Program efficiency
93%
of spending reaches programs▼ -3% vs prior filing year
Operating runway
4.9mo
months of highly liquid reserves at operating expense rate▲ +36% vs prior filing year
Surplus margin
+13%
revenue over expenses, this year▲ +483% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$693K
FY2025▲ +22%
Expenses
$603K
FY2025▲ +8%
Total assets
$257K
FY2025▲ +54%
Total liabilities
$0
FY2025
Total revenue
$693K
Pt VIII · Ln 12
Total expenses
$603K
Pt IX · Ln 25
Net assets
$257K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$90K
Total assetsPt X · Ln 16$257K
Program-expense ratioPt IX · col B93%
Voting members of governing bodyPt I · Ln 319
Independent voting membersPt I · Ln 419
Mission & Programs · Part III

Where the work happens

2 program services account for $561K of program spending, described in the organization's own filed words · FY2024.
01

Provided high-impact grants to chicago nonprofits.

$494Kprogram expense
02

Member events

$67Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CImpact Grants Chicago
EINHdr · item D82-1566221
Principal addressHdr · item CChicago, IL
WebsiteHdr · item Jwww.impactgrantschicago.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T30)
Ruling yearIRS BMFOct 2017

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a19
Independent voting membersPt VI · Ln 1b19
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Impact Grants Chicago executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$642K · 93%
Program service revenue$42K · 6%
Investment income$8K · 1%
Contributions & grants93%$642K
Program service revenue6%$42K
Investment income1%$8K
Other revenue$380
Total revenueLn 12$693K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.93 Management & general $0.07
Program services93%$561K
Management & general7%$42K
Total functional expensesLn 25$603K

Balance Sheet

Part X · end of year
CashLn 1$245K
Total assetsLn 16$257K
Total liabilitiesLn 26$0
Total net assetsLn 32$257K
Months of cash on handcomputed4.9

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $245K · Operating expenses/yr $603K
4.9 months
Where the money goes
Program services
Program services $561K · Total expenses $603K
93%
Management & General
Management & general $42K · Total expenses $603K
7%
Fundraising
Fundraising $0 · Total expenses $603K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $570K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $642K · Total revenue $693K
93%
Government reliance
Government grants — · Total revenue $693K
Earned-income share
Program service revenue $42K · Total revenue $693K
6%
Investment reliance
Investment income $8K · Total revenue $693K
+1%
Program self-sufficiency
Program service revenue $42K · Total expenses $603K
7%
Growth & trend
Revenue growth (YoY)
This year $693K · Prior year $570K
+22%
Revenue CAGR
FY2020 $512K · FY2024 $693K
+8%
Net-asset trend (YoY)
End of year $257K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $693K · Expenses $603K
+13%
Liabilities-to-Assets
Total liabilities — · Total assets $257K
Net-asset ratio
Net assets $257K · Total assets $257K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $257K
0%
People & payroll
Highest Reported Total Compensation
Individual Maggie Schell · Reported title President · Highest reported compensation $0 · Total expenses $603K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $603K
0%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 93%
Overhead ratio 7%
Fundraising cost ratio 0%
Revenue growth 22%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 1%
Fundraising fee ratio 0%

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 15 funders →
Grants paid · 42 grants · $2.5M · 2020–2024
Peoples Music School INCIL · FY2024$100,000
The BlocIL · FY2024$100,000
Restoring the PathIL · FY2024$100,000
Ignite OrgIL · FY2024$100,000
Esperanza Community ServicesIL · FY2024$30,000
St Leonards MinistriesIL · FY2023$100,000
New Moms INCIL · FY2023$100,000
HomeIL · FY2023$100,000
Franciscan OutreachIL · FY2023$25,000
Care for RealIL · FY2023$25,000
Revolution WorkshopIL · FY2022$100,000
Open Books LtdIL · FY2022$100,000
See all 42 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$693K revenue · viewing · ⤓ 990 PDF
FY2024$570K revenue · ⤓ 990 PDF
FY2023$568K revenue · ⤓ 990 PDF
FY2022$551K revenue · ⤓ 990 PDF
FY2021$512K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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