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GE Chamber Foundation FY2023 filing

Tax-deductible

Chicago, IL501(c)(3)Since 2018Education EIN 82-4824489Revenue $286K in FY2023

On file with the IRSgechamber.com/gecf825 W 69th St, 60621-1709 · Chicago, ILTax-exempt since Apr 2018Publicly supported — 509(a)(2)

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The GE Chamber Foundation mission is to use an asset-based approach to equitably fund black and brown businesses, placing them at the center of the small business ecosystem, by advocating for changes to economic development and serving as a trusted, creditble, and reliable source of support relevant to the individualized needs of small businesses. The greater englewood (GE) Chamber Foundation is the sister organization of the greater englewood Chamber of commerce.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$60K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $197K a year · 26% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$60K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 10.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $707K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$22K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
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
$286K
-8% vs prior year
Spent
$332K
To programs
73%
Net assets
$281K
By yearFY2020–FY2024
Revenue
$286K
FY2023▼ -8%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.0M
FY2021$328K
FY2022$312K
FY2023$286K
FY2024$1.4M
Expenses
$332K
FY2023▲ +67%
Tap a bar for its year
Expenses by fiscal year
FY2020$583K
FY2021Not on file
FY2022$199K
FY2023$332K
FY2024$1.1M
Net assets
$281K
FY2023▼ -14%
Tap a bar for its year
Net assets by fiscal year
FY2020$444K
FY2021$444K
FY2022$328K
FY2023$281K
FY2024$559K

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2018.

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $242K Management & general 25% · $83K Fundraising 13% · $44K

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

10 people listed on the 990; $60K paid to officers and key staff.

Part VII, Section A · reportable compensation
$60,025Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Felicia Slaton-Young’s $64K as Inter. Chair/Ed is at the 56th percentile of top reported officer pay among 1613 $100K–1M 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021
Felicia Slaton-Young$64,044$60,025$59,502$49,649

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 GE Chamber 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Equitably funds Black and Brown businesses, centering them in the small business ecosystem.

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Provided by the organization

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2 programs · $458K · in their own filed words · FY2023
01

The ge chamber foundation mission is to use an asset-based approach to equitably fund black and brown businesses, placing them at the center of the small business ecosystem, by advocating for changes to economic development and serving as a trusted, creditble, and reliable source of support relevant to the individualized needs of small…

$242Kprogram expense
02

The ge chamber foundation mission is to use an asset-based approach to equitably fund black and brown businesses, placing them at the center of the small business ecosystem, by advocating for changes to economic development and serving as a trusted, creditble, and reliable source of support relevant to the individualized needs of small…

$216Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
The Chicago Community TrustFY2024$400K
Local Initiatives Support CorporationFY2024$302K
Grow Greater Englewood INCFY2024$5K
Total grants receivedfrom 3 funders$707K
See all 3 funders →

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$286K
Ln 12
Gifts and grantsLn 1h$286K
Money outPt IX
$332K
Ln 25
Programscol B$242K
Managementcol C$83K
Fundraisingcol D$44K
Owns and owesPt X
$281K
net assets · Ln 32
Cash and savingsLn 1–2$288K
Total assetsLn 16$303K
LiabilitiesLn 26$22K
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$286K
Government grantsLn 1e$5K
Total revenueLn 12$286K
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$288K
Total assetsLn 16$303K
LiabilitiesLn 26$22K
Net assetsLn 32$281K
OperationsPt I, VI
EmployeesI 56
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.4M$1.1M$278K$559K 990 PDF
FY2023 Viewing $286K$332K−$47K$281K 990 PDF
FY2022 $312K$199K$112K$328K 990 PDF
FY2021 $328K$444K 990 PDF
FY2020 $1.0M$583K$443K$444K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons A · Public support O · Explanations
See the full FY2023 990 (1 part)
Part VI · Governance 4 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsNo
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

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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