Chicago Family Business Council Inc DBA Entrepreneur and Family Business Council

What it reported doing in 2024

THE ORGANIZATION OPERATES TO PROMOTE EDUCATIONAL AND CHARITABLE PURPOSES FOR FAMILY, CLOSELY HELD, AND ENTREPRENEURIAL BUSINESS THROUGH ACTIVITIES WHICH INCLUDE BUT NOT LIMITED TO: EDUCATIONAL PROGRAMMING, PEER-TO-PEER FORUM GROUPS, ENCOURAGEMENT OF STUDENT SCHOLARSHIPS FOR INVOLVEMENT, RESEARCH IN THE FIELD OF FAMILY BUSINESS AND EMOTIONAL INTELLIGENCE.FORUMS - Forums are the heartbeat of EFBC. These groups give EFBC members a chance to share their business, family and personal experiences with one another in a confidential setting. Your forum is a place where youre not expected to have all the answers. Instead, your forum gives you the opportunity to draw on the experience and perspectives of fellow members to make the best choices for you and your business.EFBC offers forums for CEOs and business leaders, bringing a variety of entrepreneurs together in informal settings. After speaking with new members about their goals, EFBC selects forums for them that best suit their needs. Each forum is capped at nine members, and each participant comes from a different industry to create a diverse and rich set of perspectives within the group.Members that participate in a forum commit to nine meetings a year, which begin at 3 p.m. and last through dessert. Participants also attend a mandatory three-day, two-night retreat.PRESENTATION AND WORKSHOPS - Learning together is a key part of the EFBC experience. We offer a variety of educational programs throughout the year, including: Roots Curriculum: We offer educational courses under our core roots curriculum open to members and the general public. Courses are in a 2-month leadership training, 8-month team based strategic planning, execution and management course, family business 101, family meeting, and transitional preparation assessments.Powerful Speakers: EFBC regularly invites well-known business and cultural figures to share their insights at our seminars, which are open to members and the public. Past presenters include author and leadership expert Stephen R. Covey; JPMorgan Chase CEO Jamie Dimon; Diane Swonk, chief economist at Mesirow Financial; and Bill Rancic, winner of the first season of The Apprentice.Hands-On Workshops: Practical business skills are the focus at our hands-on workshops. Led by industry experts, these courses offer useful strategies you can put to work immediately in your own business. Recent topics include the art of negotiating, recruiting strategies and a primer on the 80/20 sales approach. The workshops are open to members and the public.EMOTIONAL INTELLIGENCE - Learning to handle social interactions and build relationships effectively is essential to becoming a strong manager and leader. Thats the idea behind emotional intelligence, a concept that our members use to guide their interactions in their forums and in their everyday lives.Emotional intelligence is a field of psychology that focuses on four social characteristics: self-awareness, self-management, social awareness and relationship management. Unlike IQ, which is largely hereditary, people can improve their emotional intelligence through training and practice. The benefits of improving your emotional intelligence include: Becoming more aware of your skills and talents and how to use them effectivelyIncreasing your empathy and listening skillsLearning how to analyze your options better and make the best choicesBuilding deeper, stronger relationshipsBuilding your confidence by applying what youve learned to your life successfullyEFBCs forums provide the framework that members need to develop their emotional intelligence so they can communicate effectively with fellow members, their employees and family members. Members can also participate in PdEI (Peer development for Emotional Intelligence), a training methodology created by EFBCs founder, James Liautaud. Liautaud, who has championed the concept of emotional intelligence and is a clinical professor at the University of Illinois at Chicago, runs t

Financial Efficiency

• Mission deployment rate: 92.5%; rating input score 93
• Program expense ratio: 89.6%; rating input score 90
• Fundraising efficiency: Limited

Transparency & Controls

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

Sustainability

• Operating margin: -6.3%; rating input score 22; 22nd percentile among comparable filings
• Total-asset coverage ratio: 1.06; rating input score 45; 45th percentile among comparable filings
• Liabilities to assets ratio: 0.1; rating input score 42; 42nd percentile among comparable filings
• Officer compensation ratio: 23.2%; rating input score 11; 11th percentile among comparable filings

Growth

• Program expense growth: 2.5% per year; rating input score 100; 29th percentile among comparable filings
• Revenue growth: 3.6% per year; rating input score 100; 35th percentile among comparable filings
• Asset growth: 11.7% per year; rating input score 100; 64th percentile among comparable filings