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Nonprofiteer
← CHICAGO NEW BUSINESS NFP

Form 990 for tax year 2024

Filed by CHICAGO NEW BUSINESS NFP.

Totals

Total revenue
$224,075
Total expenses
$255,938
Contributions and grants received
$86,002
Grants paid
$0
Program service revenue
$138,073
Investment income
$0
Other revenue
$0
Total assets, end of year
$2,306
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,306
Program services expenses (Part IX)
$255,938
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$138,073

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $86,002

  • 2a · Program service revenue: Business Advising Related

    total $138,073 · related or exempt $138,073

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $223,812 · program services $223,812

  • 11g · Fees: other

    total $0 · program services $0

  • 24e · All other expenses

    total $32,126 · program services $32,126

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $34,169 · end of year $2,306

  • 27 · Net assets without donor restrictions

    beginning of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $34,169 · end of year $2,306

Mission and programs · 2024

Mission

The 36Squared Business Incubator is a small business development organization that is unique in actively seeking to work with the disabled and disadvantaged entrepreneur community in the city of Chicago. In 2023 the 36squared business incubator assisted more than 97 clients with starting or growing their own businesss. The 90% of these clients were women and/or minorities and came from disadvantaged areas on Chicago's South and Southwest side. We held more than 11 training events focused on the basics of starting a small business in Illinois, finding funding, and access to available grants and incentives. We also hosted more than 50 women entrepreneurs at a free "Women in Business" luncheon where the attendees were able to network, build relationships, find clients and hear the success stories of other more established businesses. Also, in 2024 we hosted our annual "Boost Awards for Disabled Entrepreneurship". This is a breakfast event where our clients with disabilities .

  • Assisted more that 30 local, disadvantaged and disables entrepreneurs launch and grow their business through multiple session of one to one advaising

    Expenses $77,755 · Revenue $77,755

  • Hosted 6 areas business in an inclusive ( able and disabled, multi racial) shared workspace.

    Expenses $35,000 · Revenue $35,000

  • Head more that 20 webinars and online trainings on business subjects like "where to go when the bank say No" (funding) "Business Plan Basics, as well as "Staring Your Business in Chicago"

    Expenses $25,318 · Revenue $25,318

As filed on the 2024 return.

Listed in Part VII

  • Andrew Fotrgaty

    Executive Director

    Total calculated
    $228,980
    From this org
    $114,490
    From related orgs
    $114,490
    Other
    $0
    Hours/week
    40

  • Erika G Gonzalez

    Director of Program MAnagement

    Total calculated
    $138,640
    From this org
    $69,320
    From related orgs
    $69,320
    Other
    $0
    Hours/week
    40

  • Laura Martinez

    Advisor

    Total calculated
    $26,000
    From this org
    $13,000
    From related orgs
    $13,000
    Other
    $0
    Hours/week
    20

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Schedule J

Itemized on Schedule J with no Part VII listing of the same name on this return:

  • Andrew Forgaty

    Executive Director

    Schedule J breakdown

    Base
    $114,490
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $114,490

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 1b:
The executive Director's compensation is reviewes by the Board on annual basis.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2025
IRS schema version
2024v5.0
Source object
202511359349302781

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