Harold E Eisenberg Foundation

What it reported doing in 2024

Real estate education - the organization has developed multiple hands-on experiential programs aimed at giving students exposure to the real working world of real estate as well as access to and mentorship from industry leaders. This year alone, the foundation invested over $75,000 in scholarships and programs, impacting the lives of over 1,000 students from over 35 universities. These programs are developed and administered by the organization's staff and volunteers. Over 400 dedicated volunteers participate in the education programs, which considerably decreases the foundation's expenses. This is important to note when reviewing charitable program costs. The education programs include the following: level: utilizing a three-phased approach, the level program seeks to build a pipeline of qualified underrepresented (black, latinx and others) commercial real estate industry professionals, by offering hands-on experiences for high-school students in under-resourced areas of chicago. Level will leverage the harold e. Eisenberg foundation's (heef) extensive educational platform and a nationwide network of commercial real estate industry professionals to provide participating students with summer and school-year internships, mentorships, access to industry trade shows, networking opportunities, real estate competition participation, and specialized software trainingmentorship & career counseling - the organization's pillar education initiative, the mentorship program, offers college students the opportunity to spend a full-day shadowing an industry leader. The foundation averages two mentorship days each week and has completed over 2,000 total days so far. Building on the tremendous success of the mentorship program, the career counseling program offers the opportunity to meet one-on-one for short counseling sessions. Real estate challenge - this annual competition challenged as many as twenty+ graduate and undergraduate student teams to act as individual development companies by creating plans for a significant site in chicago - bronzeville lakefront (in partnership with farpoint development). The winning teams (1 undergraduate and 1 graduate) were each awarded a $7,500 scholarship. Approximately 100 volunteers assisted with the competition, including team mentors, judges and event day volunteers. Career day - during this annual two-day program, 125 students from 15 universities were given exclusive access to site tours of different downtown chicago buildings, a panel discussion with rising stars in the industry, 15 different topics at a roundtable lunch with executive leaders and experts in those topics, and a career/internship fair. Real estate scholar program - this program is a ten-month deep dive that provided six exceptional college students with the opportunity to work hand-in-hand with real estate innovators. It included partnering with a "super mentor", mentorship and career counseling sessions, access to industry events, an all-expense paid trip to attend the annual icsc, and a scholarship of up to $5,000 per student. Approximately 25 volunteers participated in this program. Scholarships - the organization awards scholarships to deserving real estate students involved in foundation educational programs, who attend a variety of colleges. They were chosen by a committee of volunteers based on academic performance, commitment to service, and dedication to pursuing a career in the real estate industry.

Financial Efficiency

• Mission deployment rate: 70.5%; rating input score 70
• Program expense ratio: 66.1%; rating input score 66
• Fundraising efficiency: $6.9 raised per $1 spent on fundraising; rating input score 26; 26th 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: 99.8%; rating input score 100; 50th percentile among comparable filings
• 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: 6 of 8 controls in place; rating input score 75
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -6.5%; rating input score 22; 22nd percentile among comparable filings
• Total-asset coverage ratio: 0.13; rating input score 6; 6th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 83; 83rd percentile among comparable filings
• Officer compensation ratio: 20.1%; rating input score 15; 15th percentile among comparable filings

Growth

• Program expense growth: 4.2% per year; rating input score 100; 38th percentile among comparable filings
• Revenue growth: 4.2% per year; rating input score 100; 38th percentile among comparable filings
• Asset growth: -22.9% per year; rating input score 0; 1st percentile among comparable filings