Chicago Cultural Center Foundation

Nonprofit profile at a glance

EIN
363856541
IRS 990 coverage
2010–2011
Forms available
Form 990 2011
Location
Chicago, IL, USA
Phone
3127423714
Rating confidence
Limited
Sector
Single Organization Support

Reported finances

Revenue
$671,017
Expenses
$1,112,754
Assets
$1,015,524
Liabilities
$98,270

Source: IRS Form 990. Selected filing: tax year 2011. Amounts in USD.

Leadership & pay

23 people listed

Source: IRS Form 990. Selected filing: tax year 2011. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Serving the city of chicago through accessiblity to the arts through free public programming at the chicago cultural center and nuturing the growth of chicago's individual artists and arts organizations.

What it reported doing in 2011

The World Music Festival: Chicago presents traditional and contemporary international music annually in a multi-day festival throughout the City of Chicago. With collaborative, quality, diverse, and accessible music performances and education opportunities, the Festival serves over 80,000 individuals each year. The multi-venue celebration showcases artists from around the world in a mix of concerts, live radio broadcasts, in-store performances and educational workshops presented in museums, parks, cultural centers, plazas, theaters, bookstores, clubs and other venues.

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 100
  • Accountability: 82
  • Sustainability: 30
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th 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; 64th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -65.8%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0.91; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 86; 86th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -104.6% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -25.2% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 23 of 23 board members independent · 4 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $1.1M in reported program spending
  • Leadership: top reported pay $0 · 23 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 2 filing years from 2010 to 2011
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

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

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.