Form 990 for tax year 2023
Filed by HFS CHICAGO SCHOLARS.
This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.
What the amendment changed
Compared with the latest return for 2023 , filed 15 May 2025. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.
Those are the same on the two returns, so the amendment changed something else.
Totals
- Total revenue
- $1,573,514
- Total expenses
- $1,012,155
- Contributions and grants received
- $1,558,706
- Grants paid
- $442,010
- Program service revenue
- $0
- Investment income
- $190,594
- Other revenue
- -$175,786
- Total assets, end of year
- $4,624,897
- Total liabilities, end of year
- $48,826
- Net assets or fund balances, end of year
- $4,576,071
- Program services expenses (Part IX)
- $930,018
- Management and general expenses
- $12,423
- Fundraising expenses
- $69,714
- Program service expenses (Part III)
- $930,018
Program services were 91.9% 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
$1,028,391
-
1f · All other contributions, gifts and grants
$530,315
-
1g · Noncash contributions included above
$4,800
-
3 · Investment income
total $128,733 · excluded $128,733
-
7a · Gross sales of assets other than inventory
securities $136,681
-
7b · Less cost or other basis and sales expenses
securities $74,820
-
7c · Gain or loss
securities $61,861
-
7d · Net gain or loss
total $61,861 · related or exempt $61,861
-
8a · Fundraising events: contributions included on line 1c
$1,028,391
-
8b · Fundraising events: direct expenses
$175,786
-
8c · Net income from fundraising events
total -$175,786 · excluded -$105,170
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $442,010 · program services $442,010
-
5 · Compensation of officers, directors and key employees
total $104,750 · program services $54,750 · fundraising $50,000
-
7 · Other salaries and wages
total $355,025 · program services $355,025
-
11c · Fees: accounting
total $2,250 · management and general $2,250
-
13 · Office expenses
total $20,658 · program services $7,642 · management and general $40 · fundraising $12,976
-
16 · Occupancy
total $5,075 · program services $5,075
-
23 · Insurance
total $3,574 · management and general $3,574
-
24a · Other expenses: SCHOLAR EVENTS
total $43,153 · program services $43,153
-
24b · Other expenses: TELEPHONE & INTERNET
total $8,806 · program services $8,806
-
24c · Other expenses: MENTOR EVENTS
total $7,492 · program services $7,492
-
24d · Other expenses: CRM SYSTEM IMPLEMENTATION
total $6,642 · fundraising $6,642
-
24e · All other expenses
total $12,720 · program services $6,065 · management and general $6,559 · fundraising $96
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $520,706 · end of year $823,642
-
4 · Accounts receivable
beginning of year $71,772 · end of year $13,620
-
9 · Prepaid expenses and deferred charges
beginning of year $3,250 · end of year $8,000
-
10a · Land, buildings and equipment: cost or other basis
$12,500
-
10b · Land, buildings and equipment: accumulated depreciation
$347
-
10c · Land, buildings and equipment, net
end of year $12,153
-
11 · Investments: publicly traded securities
beginning of year $3,095,194 · end of year $3,767,482
-
17 · Accounts payable and accrued expenses
beginning of year $23,258 · end of year $15,096
-
19 · Deferred revenue
beginning of year $15,000 · end of year $33,730
-
27 · Net assets without donor restrictions
beginning of year $2,045,585 · end of year $2,477,259
-
28 · Net assets with donor restrictions
beginning of year $1,607,079 · end of year $2,098,812
Mission and programs · 2023
Mission
HFS CHICAGO SCHOLARS (HFS) WAS CREATED FOR THE EXPRESS PURPOSE OF SUPPORTING THE EDUCATIONAL ASPIRATION OF ECONOMICALLY DISADVANTAGED, BUT ACADEMICALLY MOTIVATED CHICAGO INNER-CITY YOUTH. HFS GRANTS PARTIAL SCHOLARSHIPS TO QUALIFYING STUDENTS, WORKS WITH OTHER UNRELATED SCHOLARSHIP FUNDS AND THE CHOSEN HIGH SCHOOL OF THE SCHOLARSHIP RECIPIENTS TO ADDRESS FULL TUITION AND OTHER SCHOOL COST NEEDS OF THE RECIPIENTS AND PROVIDES AN ACTIVE MENTOR FOR EACH RECIPIENT TO HELP THE RECIPIENT SUCCESSFULLY ACHIEVE HIS OR HER EDUCATIONAL GOALS.
Activities or mission (Part I)
TO SUPPORT THE EDUCATIONAL ASPIRATIONS OF ECONOMICALLY DISADVANTAGED BUT ACADEMICALLY MOTIVATED CHICAGO INNER-CITY YOUTH.
-
DURING FISCAL YEAR 2023, HFS PROVIDED PARTIAL HIGH SCHOOL SCHOLARSHIPS TO 209 STUDENTS.
Expenses $930,018 · Grants $442,010
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Michael J KennellyMICHAEL J KENNELLY
BOARD CHAIRM
- Total calculated
- $0
- Hours/week
- 5
-
James AllegrettiJAMES ALLEGRETTI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Kathy L ClolingerKATHY L CLOLINGER
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Desiree Pepper-VenzantDESIREE PEPPER-VENZANT
EXECUTIVE DI
- Total calculated
- $104,750
- From this org
- $104,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Heather AlbrightHEATHER ALBRIGHT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Dean BekasDEAN BEKAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Kevin CallahanKEVIN CALLAHAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Joseph DimberioJOSEPH DIMBERIO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Brian GallagherBRIAN GALLAGHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Mark GertzofMARK GERTZOF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Kara GoodwinKARA GOODWIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
David HilgerDAVID HILGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Hon Matthew KennellyHON MATTHEW KENNELLY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
David KuceraDAVID KUCERA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jim LentzJIM LENTZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Kerri LinKERRI LIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Kevin McCartyKEVIN MCCARTY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Mark McCarvilleMARK MCCARVILLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Scott MeyerSCOTT MEYER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Tamara MeyerTAMARA MEYER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Carmen OntiverosCARMEN ONTIVEROS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
George N PanagakisGEORGE N PANAGAKIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Christopher Petrini-PoliCHRISTOPHER PETRINI-POLI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Donovan PepperDONOVAN PEPPER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Nancy PetermanNANCY PETERMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Frank PetitoFRANK PETITO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Christopher RaubCHRISTOPHER RAUB
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Claudia SaranCLAUDIA SARAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Michael ScolaroMICHAEL SCOLARO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
James SheehanJAMES SHEEHAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Gregory TeegenGREGORY TEEGEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
David TracyDAVID TRACY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Laura Van PeenanLAURA VAN PEENAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Chris VaronesCHRIS VARONES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Joy WaltonJOY WALTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jason WhiteJASON WHITE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Suzanne YoonSUZANNE YOON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
John SikoraJOHN SIKORA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Brian ZygmuntBRIAN ZYGMUNT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Alex AgranALEX AGRAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
John KavanaughJOHN KAVANAUGH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Sean MeehanSEAN MEEHAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Andrew WeilANDREW WEIL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Scott WilliamsSCOTT WILLIAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Edward KellerEDWARD KELLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
John McLaughlinJOHN MCLAUGHLIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Suzanne MartinezSUZANNE MARTINEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Dennis CrowleyDENNIS CROWLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Anthony GarciaANTHONY GARCIA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
James JonesJAMES JONES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Kevin BlitzKEVIN BLITZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jim ConveryJIM CONVERY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Christian CooleyCHRISTIAN COOLEY
VICE CHAIRMA
- Total calculated
- $0
- Hours/week
- 0.5
-
Tanja BabichTANJA BABICH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Angela CinefroANGELA CINEFRO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jennifer DriscollJENNIFER DRISCOLL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Thomas JohannesenTHOMAS JOHANNESEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Karen QuirkKAREN QUIRK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Michael SharkeyMICHAEL SHARKEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Yi WeiYI WEI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jordan CurnesJORDAN CURNES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Sameer GhaznaviSAMEER GHAZNAVI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Adam PollockADAM POLLOCK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
John KellerJOHN KELLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Vernis Barrier-LikesVERNIS BARRIER-LIKES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jerry PrassasJERRY PRASSAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Steve GrimesSTEVE GRIMES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Ryan GrommesRYAN GROMMES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
J James O'MalleyJ JAMES O'MALLEY
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Raymond WhearleyRAYMOND WHEARLEY
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5
-
Rona BorreRONA BORRE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jason DejonkerJASON DEJONKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Gerald MolidorGERALD MOLIDOR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Daniel QuintanaDANIEL QUINTANA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Michael SullivanMICHAEL SULLIVAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Daniel TiemannDANIEL TIEMANN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
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.
Grants on this return
-
$45,000
SCHOLARSHIP
-
CHICAGO HOPE ACADEMY
$41,076
SCHOLARSHIP
-
ST LAURENCE HIGH SCHOOL
$38,200
SCHOLARSHIP
-
$33,200
SCHOLARSHIP
-
$32,250
SCHOLARSHIP
-
$18,405
SCHOLARSHIP
-
$16,850
SCHOLARSHIP
-
FRANCIS W PARKER SCHOOL
$16,400
SCHOLARSHIP
-
NAZARETH ACADEMY
$14,200
SCHOLARSHIP
-
UNIV OF CHICAGO LAB SCHOOL
$13,800
SCHOLARSHIP
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202541359349314884
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.