Chicago State Foundation

Nonprofit profile at a glance

EIN
473644945
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
7739955300
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$6,185,493
Expenses
$4,483,012
Assets
$11,531,717
Liabilities
$411,671

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

Leadership & pay

23 people listed

Executive titles in this filing

  • Melanie Sillas (President)

Highest reported compensation

  • Melanie Sillas (President): $191,808 total reported compensation

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

Overview

Mission

The mission of Chicago State Foundation is to advance the interest and welfare of CSU by building relationships, securing philanthropic support, stewarding assets and otherwise procuring private support on behalf of the University. Working in concert with the President of CSU, Chicago State Foundation helps to identify strategic priorities, raise public awareness for the University and secure private support to create new opportunities for students.

What it reported doing in 2024

The mission of the Foundation is to provide support to students, faculty and programs of Chicago State University.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 94% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 75
  • Accountability: 87
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.7%; rating input score 85
  • Program expense ratio: 93.5%; rating input score 93
  • Fundraising efficiency: $31.94 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.5%; rating input score 95; 26th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 27.5%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 2.57; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 0.3%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: 11% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 19.8% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 5.3% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 84.7% of revenue deployed · 93.5% of spending went to programs
  • Governance: 21 of 22 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $4.2M in reported program spending
  • Leadership: top reported pay $192K · 23 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $260K reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2020 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 — Accountability: Governance controls: 2 of 8 not reported.