Chicago Blend Group Inc

Nonprofit profile at a glance

EIN
852034595
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Chicago, IL, USA
Phone
2247155158
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Research Institutes and Public Policy Analysis

Official website

Reported finances

Revenue
$292,708
Expenses
$314,960
Assets
$129,551
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • LINDSAY KNIGHT (PRESIDENT)
  • GALE WILKINSON (VICE PRESIDENT & TREASURER)
  • JOSEPH MAK (CEO)

Highest reported compensation

  • JOSEPH MAK (CEO): $137,081 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Creating a more inclusive venture capital and entrepreneurial ecosystem.

What it reported doing in 2024

The chicago: blend venture fellowship is a four-month, peer learning cohort program that prepares high-potential, aspiring venture capitalists for careers in vc, culminating in blend: talks, where graduating fellows provide insights about emerging technologies and venture capital trends to a live audience of investors.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.4%; rating input score 58
  • Program expense ratio: 54.3%; rating input score 54
  • Fundraising efficiency: $5.24 raised per $1 spent on fundraising; rating input score 23; 23rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -7.6%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0.41; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 43.5%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 31.5% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 34.8% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 36.4% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 58.4% of revenue deployed · 54.3% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $171K in reported program spending
  • Leadership: top reported pay $137K · 10 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • Review — Financial Efficiency: Program expense ratio scored 54/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 23/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.