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Nonprofiteer
← CITY COLLEGES OF CHICAGO FOUNDATION

Form 990 for tax year 2023

Filed by CITY COLLEGES OF CHICAGO FOUNDATION.

Totals

Total revenue
$4,975,030
Total expenses
$4,851,892
Contributions and grants received
$4,314,215
Grants paid
$4,503,703
Program service revenue
$0
Investment income
$660,815
Other revenue
$0
Total assets, end of year
$29,015,943
Total liabilities, end of year
$3,981,361
Net assets or fund balances, end of year
$25,034,582
Program services expenses (Part IX)
$4,848,872
Management and general expenses
$3,020
Fundraising expenses
$0
Program service expenses (Part III)
$4,848,872

Program services were 99.9% 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.

  • 1f · All other contributions, gifts and grants

    $4,314,215

  • 3 · Investment income

    total $514,484 · excluded $514,484

  • 7a · Gross sales of assets other than inventory

    securities $555,200

  • 7b · Less cost or other basis and sales expenses

    securities $408,869

  • 7c · Gain or loss

    securities $146,331

  • 7d · Net gain or loss

    total $146,331 · excluded $146,331

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,319,590 · program services $3,319,590

  • 2 · Grants to domestic individuals

    total $1,184,113 · program services $1,184,113

  • 11a · Fees: management

    total $59,592 · program services $59,592

  • 11f · Fees: investment management

    total $665 · management and general $665

  • 11g · Fees: other

    total $247,219 · program services $244,864 · management and general $2,355

  • 13 · Office expenses

    total $29,027 · program services $29,027

  • 14 · Information technology

    total $1,234 · program services $1,234

  • 24a · Other expenses: Catering

    total $10,452 · program services $10,452

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,122,882 · end of year $10,980,180

  • 3 · Pledges and grants receivable

    beginning of year $3,035,695 · end of year $1,551,891

  • 4 · Accounts receivable

    beginning of year $9,780 · end of year $473

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,234 · end of year $1,245

  • 11 · Investments: publicly traded securities

    beginning of year $14,082,411 · end of year $15,952,989

  • 12 · Investments: other securities

    beginning of year $500,000 · end of year $529,165

  • 17 · Accounts payable and accrued expenses

    beginning of year $323,079 · end of year $422,109

  • 25 · Other liabilities

    beginning of year $0 · end of year $3,559,252

  • 27 · Net assets without donor restrictions

    beginning of year $2,545,538 · end of year $3,492,018

  • 28 · Net assets with donor restrictions

    beginning of year $20,883,385 · end of year $21,542,564

Mission and programs · 2023

Mission

Fueled by the generosity of Chicago's philanthropic community, the City Colleges of Chicago Foundation raises charitable contributions to support community colleges students from all backgrounds in reaching their academic and career goals.

Activities or mission (Part I)

To provide grants for scholarships.

  • The Foundation is organized and shall be operated exclusively for educational purposes to assist in developing and augmenting the resources and carrying out the educational functions of the City Colleges of Chicago, established and operated by the Board of Trustees of Community College District No. 508, Cook County, State of Illinois, to the end there may be provided in the college's community broader educational opportunities for and service to the student and alumni of the college and the citizens of this state and nation. The Foundation provides scholarships and skilled upgrades to 1,134 students.

    Expenses $4,848,872 · Grants $4,503,703

As filed on the 2023 return.

Listed in Part VII

  • Juan Salgado

    General Director

    Total calculated
    $362,167
    From this org
    $0
    From related orgs
    $279,741
    Other
    $82,426
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $279,741 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $52,000 related
    Nontaxable benefits
    $0 + $30,426 related
    Filer's total
    $0 + $362,167 related

  • Veronica Herrero

    President

    Total calculated
    $220,028
    From this org
    $0
    From related orgs
    $189,602
    Other
    $30,426
    Hours/week
    15 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $189,602 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $30,426 related
    Filer's total
    $0 + $220,028 related

  • Gary L Rozier

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Nicole Johnson-Scales

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Monica Bibbs

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Melissa Flores

    General Director

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Glover

    General Director

    Total calculated
    $0
    Hours/week
    1

  • Darlene Hightower

    General Director

    Total calculated
    $0
    Hours/week
    1

  • Norma Manjarrez

    General Director

    Total calculated
    $0
    Hours/week
    1

  • Darrell A Williams

    General Director

    Total calculated
    $0
    Hours/week
    1

  • Dr Quinton Williams

    General Director

    Total calculated
    $0
    Hours/week
    1

  • Maribel Rodriguez

    Treasurer

    Total calculated
    $196,488
    From this org
    $0
    From related orgs
    $189,169
    Other
    $7,319
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $189,169 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $7,319 related
    Filer's total
    $0 + $196,488 related

  • Rhonda K Brown

    President (until 7/3/23)

    Total calculated
    $94,578
    From this org
    $0
    From related orgs
    $83,068
    Other
    $11,510
    Hours/week
    40

  • Jennifer Williams

    Executive Director (until 12/18/23)

    Total calculated
    $135,093
    From this org
    $0
    From related orgs
    $114,712
    Other
    $20,381
    Hours/week
    40

  • Marcus Hardaway

    Executive Director (As of 1/10/24)

    Total calculated
    $0
    Hours/week
    40

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 compensation for the President of City Colleges of Chicago Foundation (CCCF), Veronica Herrero, is determined by the City Colleges Chicago Board of Directors by: Board Approval. The CCCF has no employees.

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

  • City Colleges of Chicago

    $2,325,628

    Student & Program Support

  • City Colleges of ChicagoHarold Washington College

    $900,834

    Student & Program Support

  • Temple University

    $27,000

    To prepare Chicago adults for career advancement through for-credit programs at City Colleges of Chicago

  • NAWBO Chicago

    $17,500

    Goldman Sachs 10,000 Small Business (GSK10KSB) referral sponsorship

  • Chicagoland Chamber of Commerce

    $10,000

    To prepare Chicago adults for career advancement through for-credit programs at City Colleges of Chicago

  • United Way of Metropolitan Chicago

    $10,000

    To prepare Chicago adults for career advancement through for-credit programs at City Colleges of Chicago

  • Women's Business Development Center

    $10,000

    To prepare Chicago adults for career advancement through for-credit programs at City Colleges of Chicago

  • Chicago Minority Supplier Dev Council

    $7,500

    Goldman Sachs 10,000 Small Business (GSK10KSB) referral sponsorship

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.

  • City Colleges of Chicago

    Education-Comm. Coll. · IL

Provenance

Return type
form_990
Tax year
2023
Filed
17 April 2025
IRS schema version
2023v6.0
Source object
202511189349301661

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

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