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Nonprofiteer
← CHOOSE CHICAGO FOUNDATION

Form 990 for tax year 2023

Filed by CHOOSE CHICAGO FOUNDATION.

Totals

Total revenue
$8,093,782
Total expenses
$209,719
Contributions and grants received
$8,079,744
Grants paid
$197,231
Program service revenue
$0
Investment income
$16,278
Other revenue
-$2,240
Total assets, end of year
$8,510,181
Total liabilities, end of year
$210
Net assets or fund balances, end of year
$8,509,971
Program services expenses (Part IX)
$197,231
Management and general expenses
$12,488
Fundraising expenses
$0
Program service expenses (Part III)
$197,231

Program services were 94.0% 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.

  • 1c · Fundraising events

    $8,400

  • 1f · All other contributions, gifts and grants

    $8,071,344

  • 3 · Investment income

    total $16,278 · excluded $16,278

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $8,400

  • 8b · Fundraising events: direct expenses

    $2,240

  • 8c · Net income from fundraising events

    total -$2,240 · excluded -$2,240

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $197,231 · program services $197,231

  • 11b · Fees: legal

    total $5,740 · management and general $5,740

  • 11g · Fees: other

    total $840 · management and general $840

  • 13 · Office expenses

    total $854 · management and general $854

  • 23 · Insurance

    total $4,336 · management and general $4,336

  • 24a · Other expenses: SUNDRY

    total $468 · management and general $468

  • 24b · Other expenses: CREATIVE PRODUCTION

    total $250 · management and general $250

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $333,066 · end of year $8,200,267

  • 2 · Savings and temporary cash investments

    beginning of year $290,604 · end of year $307,450

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,273 · end of year $2,464

  • 17 · Accounts payable and accrued expenses

    beginning of year $35 · end of year $210

  • 27 · Net assets without donor restrictions

    beginning of year $625,908 · end of year $8,509,971

Mission and programs · 2023

Mission

THE CHOOSE CHICAGO FOUNDATION ACCELERATES THE CIVIC, CULTURAL, AND ECONOMIC GROWTH OF CHICAGO THROUGH TRAVEL AND TOURISM INITIATIVES.

  • THE CHOOSE CHICAGO FOUNDATION STRATEGICALLY PROMOTES EQUITY, DIVERSITY, AND INCLUSION INITIATIVES THAT BENEFIT YOUTH, COMMUNITY, AND WORKFORCE DEVELOPMENT. THE FOUNDATION WILL OFFER FINANCIAL SUPPORT AND LONG-TERM TRAINING OPPORTUNITIES FOR ETHNICALLY AND ECONOMICALLY DIVERSE COMMUNITIES FOR ADVANCEMENT WITHIN THE HOSPITALITY AND TOURISM INDUSTRY.

    Expenses $197,231 · Grants $197,231

As filed on the 2023 return.

Listed in Part VII

  • Lynn Osmond

    PRESIDENT AND CEO

    Total calculated
    $546,065
    From this org
    $0
    From related orgs
    $536,165
    Other
    $9,900
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $438,284 related
    Bonus
    $0 + $63,067 related
    Other
    $0 + $34,814 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $33,954 related
    Filer's total
    $0 + $570,119 related

  • W James Meyer

    CFO

    Total calculated
    $258,420
    From this org
    $0
    From related orgs
    $250,894
    Other
    $7,526
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $250,894 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $18,078 related
    Filer's total
    $0 + $268,972 related

  • Rosilynn Stuttly

    DIRECTOR

    Total calculated
    $135,542
    From this org
    $0
    From related orgs
    $120,000
    Other
    $15,542
    Hours/week
    15 + 25 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

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 3
THE CEO'S COMPENSATION, PAID BY THE CHICAGO CONVENTION AND TOURISM BUREAU, IS DETERMINED AS A PART OF THEIR WRITTEN EMPLOYMENT AGREEMENT WHICH WAS REVIEWED BY THE BOARD'S EXECUTIVE COMMITTEE PRIOR TO EXECUTION.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202423179349304407

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