Impact Grants Chicago

Nonprofit profile at a glance

EIN
821566221
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
8004450626
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$692,896
Expenses
$603,202
Assets
$257,253
Liabilities
$0

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

Leadership & pay

19 people listed

Executive titles in this filing

  • Maggie Schell (President)
  • Erin Drury (Vice President)

People named in this filing

  • Maggie Schell (President)
  • Erin Drury (Vice President)
  • Jennifer Gartenberg (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Impact Grants Chicago connects, engages and inspires women to improve the community of Chicago by collectively funding $100,000 grants to Chicago nonprofits that are dedicated to addressing the challenges facing the city.

What it reported doing in 2024

Provided high-impact grants to chicago nonprofits.

Operating model

Revenue model
Donor-supported. 93% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 87% of its reported program spending out as grants.

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 and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 94
  • Accountability: 94
  • Sustainability: 58
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.2%; rating input score 81
  • Program expense ratio: 93%; rating input score 93
  • 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: 100%; rating input score 100; 76th 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 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 12.9%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 0.43; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 81.2% of revenue deployed · 93% of spending went to programs
  • Governance: 19 of 19 board members independent · 6 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $561K in reported program spending
  • Leadership: top reported pay $0 · 19 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 7 filed related-organization links
  • 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: Whistleblower policy not reported.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.