Form 990 for tax year 2024

Filed by HFS CHICAGO SCHOLARS.

Totals

Total revenue: $1,714,932
Total expenses: $1,278,816
Contributions and grants received: $1,571,706
Grants paid: $650,072
Program service revenue: $0
Investment income: $236,738
Other revenue: -$93,512
Total assets, end of year: $5,351,233
Total liabilities, end of year: $65,670
Net assets or fund balances, end of year: $5,285,563
Program services expenses (Part IX): $1,187,281
Management and general expenses: $21,771
Fundraising expenses: $69,764
Program service expenses (Part III): $1,187,281

Program services were 92.8% 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

$876,762
1f · All other contributions, gifts and grants

$694,944
1g · Noncash contributions included above

$4,800
3 · Investment income

total $236,738 · excluded $236,738
8a · Fundraising events: contributions included on line 1c

$876,762
8b · Fundraising events: direct expenses

$95,290
8c · Net income from fundraising events

total -$95,290 · excluded -$95,290
11a · Other revenue: MISC. INCOME

total $1,778 · related or exempt $1,778
11e · Other revenue, total

$1,778

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $650,072 · program services $650,072
5 · Compensation of officers, directors and key employees

total $111,800 · program services $61,800 · fundraising $50,000
7 · Other salaries and wages

total $389,005 · program services $389,005
11c · Fees: accounting

total $2,165 · management and general $2,165
13 · Office expenses

total $20,044 · program services $6,669 · management and general $118 · fundraising $13,257
16 · Occupancy

total $12,520 · program services $12,520
23 · Insurance

total $4,958 · management and general $4,958
24a · Other expenses: SCHOLAR EVENTS

total $43,408 · program services $43,408
24b · Other expenses: TELEPHONE & INTERNET

total $8,911 · program services $8,911
24c · Other expenses: CRM SYSTEM IMPLEMENTATION

total $6,507 · fundraising $6,507
24d · Other expenses: MENTOR EVENTS

total $5,876 · program services $5,876
24e · All other expenses

total $23,550 · program services $9,020 · management and general $14,530

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $823,642 · end of year $722,332
4 · Accounts receivable

beginning of year $13,620 · end of year $13,621
9 · Prepaid expenses and deferred charges

beginning of year $8,000 · end of year $8,907
10a · Land, buildings and equipment: cost or other basis

$16,301
10b · Land, buildings and equipment: accumulated depreciation

$5,666
10c · Land, buildings and equipment, net

beginning of year $12,153 · end of year $10,635
11 · Investments: publicly traded securities

beginning of year $3,767,482 · end of year $4,595,738
17 · Accounts payable and accrued expenses

beginning of year $15,096 · end of year $8,500
19 · Deferred revenue

beginning of year $33,730 · end of year $57,170
27 · Net assets without donor restrictions

beginning of year $2,477,259 · end of year $2,533,474
28 · Net assets with donor restrictions

beginning of year $2,098,812 · end of year $2,752,089

Mission and programs · 2024

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 2025, HFS PROVIDED PARTIAL HIGH SCHOOL SCHOLARSHIPS TO 246 STUDENTS.

Expenses $1,187,281 · Grants $650,072

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

MICHAEL J KENNELLY

BOARD CHAIRM

Total calculated

$0

Hours/week

5
JAMES ALLEGRETTI

DIRECTOR

Total calculated

$0

Hours/week

0.5
KATHY L CLOLINGER

TREASURER

Total calculated

$0

Hours/week

5
DESIREE PEPPER-VENZANT

EXECUTIVE DI

Total calculated

$111,800

From this org

$111,800

From related orgs

$0

Other

$0

Hours/week

40
HEATHER ALBRIGHT

DIRECTOR

Total calculated

$0

Hours/week

0.5
DEAN BEKAS

DIRECTOR

Total calculated

$0

Hours/week

0.5
KEVIN CALLAHAN

DIRECTOR

Total calculated

$0

Hours/week

0.5
JOSEPH DIMBERIO

DIRECTOR

Total calculated

$0

Hours/week

0.5
BRIAN GALLAGHER

DIRECTOR

Total calculated

$0

Hours/week

0.5
MARK GERTZOF

DIRECTOR

Total calculated

$0

Hours/week

0.5
KARA GOODWIN

DIRECTOR

Total calculated

$0

Hours/week

0.5
DAVID HILGER

DIRECTOR

Total calculated

$0

Hours/week

0.5
HON MATTHEW KENNELLY

DIRECTOR

Total calculated

$0

Hours/week

0.5
DAVID KUCERA

DIRECTOR

Total calculated

$0

Hours/week

0.5
JIM LENTZ

DIRECTOR

Total calculated

$0

Hours/week

0.5
KERRI LIN

DIRECTOR

Total calculated

$0

Hours/week

0.5
KEVIN MCCARTY

DIRECTOR

Total calculated

$0

Hours/week

0.5
MARK MCCARVILLE

DIRECTOR

Total calculated

$0

Hours/week

0.5
SCOTT MEYER

DIRECTOR

Total calculated

$0

Hours/week

0.5
TAMARA MEYER

DIRECTOR

Total calculated

$0

Hours/week

0.5
CARMEN ONTIVEROS

DIRECTOR

Total calculated

$0

Hours/week

0.5
GEORGE N PANAGAKIS

DIRECTOR

Total calculated

$0

Hours/week

0.5
CHRISTOPHER PETRINI-POLI

DIRECTOR

Total calculated

$0

Hours/week

0.5
DONOVAN PEPPER

DIRECTOR

Total calculated

$0

Hours/week

0.5
NANCY PETERMAN

DIRECTOR

Total calculated

$0

Hours/week

0.5
FRANK PETITO

DIRECTOR

Total calculated

$0

Hours/week

0.5
CHRISTOPHER RAUB

DIRECTOR

Total calculated

$0

Hours/week

0.5
CLAUDIA SARAN

DIRECTOR

Total calculated

$0

Hours/week

0.5
MICHAEL SCOLARO

DIRECTOR

Total calculated

$0

Hours/week

0.5
JAMES SHEEHAN

DIRECTOR

Total calculated

$0

Hours/week

0.5
GREGORY TEEGEN

DIRECTOR

Total calculated

$0

Hours/week

0.5
DAVID TRACY

DIRECTOR

Total calculated

$0

Hours/week

0.5
LAURA VAN PEENAN

DIRECTOR

Total calculated

$0

Hours/week

0.5
CHRIS VARONES

DIRECTOR

Total calculated

$0

Hours/week

0.5
JOY WALTON

DIRECTOR

Total calculated

$0

Hours/week

0.5
JASON WHITE

DIRECTOR

Total calculated

$0

Hours/week

0.5
SUZANNE YOON

DIRECTOR

Total calculated

$0

Hours/week

0.5
JOHN SIKORA

DIRECTOR

Total calculated

$0

Hours/week

0.5
BRIAN ZYGMUNT

DIRECTOR

Total calculated

$0

Hours/week

0.5
ALEX AGRAN

DIRECTOR

Total calculated

$0

Hours/week

0.5
JOHN KAVANAUGH

DIRECTOR

Total calculated

$0

Hours/week

0.5
SEAN MEEHAN

DIRECTOR

Total calculated

$0

Hours/week

0.5
ANDREW WEIL

DIRECTOR

Total calculated

$0

Hours/week

0.5
SCOTT WILLIAMS

DIRECTOR

Total calculated

$0

Hours/week

0.5
EDWARD KELLER

DIRECTOR

Total calculated

$0

Hours/week

0.5
JOHN MCLAUGHLIN

DIRECTOR

Total calculated

$0

Hours/week

0.5
SUZANNE MARTINEZ

DIRECTOR

Total calculated

$0

Hours/week

0.5
DENNIS CROWLEY

DIRECTOR

Total calculated

$0

Hours/week

0.5
ANTHONY GARCIA

DIRECTOR

Total calculated

$0

Hours/week

0.5
JAMES JONES

DIRECTOR

Total calculated

$0

Hours/week

0.5
KEVIN BLITZ

DIRECTOR

Total calculated

$0

Hours/week

0.5
JIM CONVERY

DIRECTOR

Total calculated

$0

Hours/week

0.5
TANJA BABICH

DIRECTOR

Total calculated

$0

Hours/week

0.5
ANGELA CINEFRO

DIRECTOR

Total calculated

$0

Hours/week

0.5
JENNIFER DRISCOLL

DIRECTOR

Total calculated

$0

Hours/week

0.5
THOMAS JOHANNESEN

DIRECTOR

Total calculated

$0

Hours/week

0.5
KAREN QUIRK

DIRECTOR

Total calculated

$0

Hours/week

0.5
MICHAEL SHARKEY

DIRECTOR

Total calculated

$0

Hours/week

0.5
YI WEI

DIRECTOR

Total calculated

$0

Hours/week

0.5
JORDAN CURNES

DIRECTOR

Total calculated

$0

Hours/week

0.5
SAMEER GHAZNAVI

DIRECTOR

Total calculated

$0

Hours/week

0.5
ADAM POLLOCK

DIRECTOR

Total calculated

$0

Hours/week

0.5
JOHN KELLER

DIRECTOR

Total calculated

$0

Hours/week

0.5
VERNIS BARRIER-LIKES

DIRECTOR

Total calculated

$0

Hours/week

0.5
JERRY PRASSAS

DIRECTOR

Total calculated

$0

Hours/week

0.5
STEVE GRIMES

DIRECTOR

Total calculated

$0

Hours/week

0.5
RYAN GROMMES

DIRECTOR

Total calculated

$0

Hours/week

0.5
RONA BORRE

DIRECTOR

Total calculated

$0

Hours/week

0.5
JASON DEJONKER

DIRECTOR

Total calculated

$0

Hours/week

0.5
GERALD MOLIDOR

DIRECTOR

Total calculated

$0

Hours/week

0.5
DANIEL QUINTANA

DIRECTOR

Total calculated

$0

Hours/week

0.5
MICHAEL SULLIVAN

DIRECTOR

Total calculated

$0

Hours/week

0.5
DANIEL TIEMANN

DIRECTOR

Total calculated

$0

Hours/week

0.5
CHRISTIAN COOLEY

VICE CHAIR

Total calculated

$0

Hours/week

0.5
J JAMES O'MALLEY

VICE CHAIR

Total calculated

$0

Hours/week

0.5
RAYMOND WHEARLEY

SECRETARY

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

DE LA SALLE INSTITUTE

$73,400

SCHOLARSHIP
ST LAURENCE HIGH SCHOOL

$69,198

SCHOLARSHIP
FENWICK HIGH SCHOOL

$57,200

SCHOLARSHIP
ST IGNATIUS COLLEGE PREP

$53,950

SCHOLARSHIP
CHICAGO HOPE ACADEMY

$31,000

SCHOLARSHIP
MOTHER MCAULEY LIBERAL ARTS HIGH SC

$24,900

SCHOLARSHIP
FRANCIS W PARKER SCHOOL

$24,800

SCHOLARSHIP
CRISTO REY JESUIT HIGH SCHOOL

$23,350

SCHOLARSHIP
DE PAUL COLLEGE PREP

$22,850

SCHOLARSHIP
NAZARETH ACADEMY

$21,900

SCHOLARSHIP

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type: form_990
Tax year: 2024
Filed: 15 May 2026
IRS schema version: 2024v5.0
Source object: 202642099349301499

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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