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Cp Fund

Tax-deductible

Chicago, IL501(c)(3)Foundations & Grantmakers EIN 87-2072496Revenue $278K in FY2024

On file with the IRScpfund.org6212 N Lincoln Ave Ste 1, 60659-2200 · Chicago, ILTax-exempt since Apr 2022Publicly supported — 509(a)(2)

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Raise money for those in need Financial education and guidance

501(c)(3) charity; gifts are tax-deductible.
88¢ 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
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
1 of 2
filings with a surplus
Average surplus $11K a year · 6% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$73K
167% of total assets
Concern: liabilities are 167% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$278K
+167% vs prior year
Spent
$285K
To programs
88%
Net assets
−$29K
By yearFY2022–FY2024
Revenue
$278K
FY2024▲ +167%
Tap a bar for its year
Revenue by fiscal year
FY2022$104K
FY2024$278K
Expenses
$285K
FY2024▲ +276%
Tap a bar for its year
Expenses by fiscal year
FY2022$76K
FY2024$285K
Net assets
−$29K
FY2024▼ -202%
Tap a bar for its year
Net assets by fiscal year
FY2022$29K
FY2024−$29K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2022.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $251K Management & general 12% · $34K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
Yosef Olstein
President
$0Pt VII · Sec A
Yehuda Hollander
Vice President
$0Pt VII · Sec A
Or Gera
Secy Treasurer
$0Pt VII · Sec A
See Cp Fund 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 15aNo

Programs and updates

Provides financial education and guidance, raising money for those in need.

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Provided by the organization

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3 programs · $395K · in their own filed words · FY2024
01

Funds are raised to help struggling families within the community during the Purim holiday. Money is distributed to those families to allow them to celebrate the Passover holidays with dignity and joy by providing funds for essentials to helping to cover festival expenses

$227Kprogram expense
02

Event to provide a day of joy and entertainment for families duringthe Jewish holiday season, especially for those facing financial challenges. Event held twice a year and has become a beacon of hope and relief for families struggling to make ends meet Donations ensured that no family had to be concerned about the cost of admission.

$147Kprogram expense
03

General fundraising throughout the year to support local synagogues, schools and other nonprofit organizations within the Jewish community. This empowers them to continue their mission of education and services. Grants were provided to enhance educational services.

$21Kprogram 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 · FY2023
Menachem and Ahuva Shabat Family Foundation INCFY2023$50K
Total grants receivedfrom 1 funder$50K
Grants paid · 4 grants · $42K · 2022–2024
Individual RecipientFY2024$7,600
Chicago Chesed Fund INCIL · FY2022$21,000
Unitemized GrantFY2022$8,260
Naleh INCNJ · FY2022$5,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$278K
Ln 12
Gifts and grantsLn 1h$425K
Money outPt IX
$285K
Ln 25
Programscol B$251K
Managementcol C$34K
Owns and owesPt X
−$29K
net assets · Ln 32
Cash and savingsLn 1–2$44K
Total assetsLn 16$44K
LiabilitiesLn 26$73K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$425K
Total revenueLn 12$278K
Assets in detailPt X, end of year
CashLn 1$44K
Cash and savings togetherLn 1–2$44K
Total assetsLn 16$44K
LiabilitiesLn 26$73K
Net assetsLn 32−$29K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
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$11K$44K
Total assetsLn 16$11K$44K
LiabilitiesLn 26$34K$73K
Net assetsLn 32−$23K−$29K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$227K$227K
Grants to domestic individualsLn 2$24K$24K
Management feesLn 11a$1K$1K
Accounting feesLn 11c$5K$5K
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$2K$2K
OccupancyLn 16$4K$4K
TravelLn 17$3K$3K
InterestLn 20$1K$1K
Other expenses (24a–d)Ln 24$11K$11K
Total functional expensesLn 25$285K$251K$34K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $278K$285K−$6K−$29K 990 PDF
FY2023 Not on file
FY2022 $104K$76K$29K$29K 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 $278,405 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $371,813$425,172
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue−$146,767
I-12 Total revenuePrior year $371,813$278,405
I-13 Grants and similar amounts paidPrior year $362,733$250,595
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $61,178$34,050
I-18 Total expensesPrior year $423,911$284,645
I-19 Revenue less expensesPrior year −$52,098−$6,240
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $278,405 across 3 lines filed
VIII-1h Total contributions, gifts and grants$425,172
VIII-8 Net income from fundraising events−$146,767
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$278,405
Part IX · Statement of functional expenses $284,645 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $227,000$227,000
IX-2 Grants to domestic individualsPrograms $23,595$23,595
IX-11a Management feesManagement $1,100$1,100
IX-11c Accounting feesManagement $5,433$5,433
IX-12 Advertising and promotionManagement $6,432$6,432
IX-13 Office expensesManagement $1,571$1,571
IX-16 OccupancyManagement $4,000$4,000
IX-17 TravelManagement $3,294$3,294
IX-20 InterestManagement $1,013$1,013
IX-24 Other expenses (24a–d)Management $11,207$11,207
IX-25 Total functional expensesPrograms $250,595 · Management $34,050 · Fundraising $0$284,645
Part X · Balance sheet $43,712 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $10,633$43,712
X-16 Total assetsStart of year $10,633$43,712
X-17 Accounts payable and accrued expensesStart of year $34,014$28,012
X-24 Unsecured notes and loans payable$45,000
X-26 Total liabilitiesStart of year $34,014$73,012
X-27 Net assets without donor restrictionsStart of year −$23,381−$29,300
X-32 Total net assets or fund balancesStart of year −$23,381−$29,300
X-33 Total liabilities and net assetsStart of year $10,633$43,712
Part XI · Reconciliation of net assets −$29,300 net assets at year end
XI-1 Total revenue$278,405
XI-2 Total expenses$284,645
XI-3 Revenue less expenses−$6,240
XI-4 Net assets at start of year−$23,381
XI-8 Prior period adjustments$321
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$29,300

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

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