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Nonprofiteer
← CHICAGO TEACHERS UNION FOUNDATION INC

Form 990 for tax year 2023

Filed by CHICAGO TEACHERS UNION FOUNDATION INC.

Totals

Total revenue
$3,543,373
Total expenses
$3,589,901
Contributions and grants received
$812,315
Grants paid
$110,000
Program service revenue
$0
Investment income
$1,329,748
Other revenue
$1,401,310
Total assets, end of year
$43,149,249
Total liabilities, end of year
$1,770,785
Net assets or fund balances, end of year
$41,378,464
Program services expenses (Part IX)
$823,812
Management and general expenses
$2,766,089
Fundraising expenses
$0
Program service expenses (Part III)
$823,812

Program services were 22.9% 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.

  • 1d · Related organizations

    $6,122

  • 1f · All other contributions, gifts and grants

    $806,193

  • 3 · Investment income

    total $498,811 · excluded $498,811

  • 6a · Gross rents

    real property $2,577,354

  • 6b · Less rental expenses

    real property $1,178,230

  • 6c · Rental income or loss

    real property $1,399,124

  • 6d · Net rental income or loss

    total $1,399,124 · excluded $1,399,124

  • 7a · Gross sales of assets other than inventory

    securities $12,275,866

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

    securities $11,444,929

  • 7c · Gain or loss

    securities $830,937

  • 7d · Net gain or loss

    total $830,937 · excluded $830,937

  • 11d · All other revenue

    total $2,186 · related or exempt $2,186

  • 11e · Other revenue, total

    $2,186

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $110,000 · program services $110,000

  • 7 · Other salaries and wages

    total $828,537 · program services $82,854 · management and general $745,683

  • 8 · Pension plan contributions

    total $91,621 · program services $9,162 · management and general $82,459

  • 9 · Other employee benefits

    total $237,516 · program services $23,752 · management and general $213,764

  • 10 · Payroll taxes

    total $71,684 · program services $7,168 · management and general $64,516

  • 11b · Fees: legal

    total $71,997 · management and general $71,997

  • 11c · Fees: accounting

    total $34,741 · management and general $34,741

  • 11f · Fees: investment management

    total $56,250 · management and general $56,250

  • 11g · Fees: other

    total $2,675 · management and general $2,675

  • 13 · Office expenses

    total $116,194 · program services $11,619 · management and general $104,575

  • 14 · Information technology

    total $20,739 · program services $2,074 · management and general $18,665

  • 22 · Depreciation, depletion and amortization

    total $1,250,962 · management and general $1,250,962

  • 23 · Insurance

    total $110,134 · management and general $110,134

  • 24a · Other expenses: MENTORS/INSTRUCTORS

    total $577,183 · program services $577,183

  • 24e · All other expenses

    total $9,668 · management and general $9,668

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $38,917 · end of year $373,865

  • 2 · Savings and temporary cash investments

    beginning of year $2,146 · end of year $11,452

  • 4 · Accounts receivable

    beginning of year $1,494 · end of year $1,685,578

  • 7 · Other notes and loans receivable

    beginning of year $4,882,794 · end of year $4,364,889

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,383 · end of year $282,001

  • 10a · Land, buildings and equipment: cost or other basis

    $35,819,441

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,083,899

  • 10c · Land, buildings and equipment, net

    beginning of year $29,133,831 · end of year $26,735,542

  • 11 · Investments: publicly traded securities

    beginning of year $6,264,293 · end of year $7,047,299

  • 15 · Other assets

    beginning of year $3,584,973 · end of year $2,648,623

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,166,662 · end of year $860,478

  • 19 · Deferred revenue

    beginning of year $21,489

  • 25 · Other liabilities

    beginning of year $0 · end of year $910,307

  • 27 · Net assets without donor restrictions

    beginning of year $42,734,680 · end of year $41,378,464

Mission and programs · 2023

Mission

THE CHICAGO TEACHERS UNION FOUNDATION, INC. ("FOUNDATION") WAS ORGANIZED FOR EDUCATIONAL AND SOCIAL WELFARE PURPOSES WITHIN THE MEANING OF SECTION 501 (C) (4) OF THE INTERNAL REVENUE CODE. THE FOUNDATION'S CIVIC AND CHARITABLE PURPOSES INCLUDE THE FOLLOWING: SUPPORT OF PROJECTS, PROGRAMS, COMMUNITY ORGANIZATIONS AND OTHER NOT-FOR-PROFIT ORGANIZATIONS THAT PROVIDE SERVICES TO IMPROVE AND ASSIST PUBLIC SCHOOLS, TEACHERS AND THEIR DEPENDENTS AND RETIRED TEACHERS, INCLUDING FINANCIAL ASSISTANCE FOR ELIGIBLE ELDERLY AND RETIRED CHICAGO PUBLIC SCHOOL TEACHERS.

Activities or mission (Part I)

THE FOUNDATION'S CIVIC & CHARITABLE PURPOSES INCLUDE THE FOLLOWING; SUPPORT OF PROJECTS PROGRAMS, COMMUNITY ORGANIZATIONS AND OTHER NOT-FOR-PROFIT ORGANIZATIONS THAT PROVIDE SERVICES TO IMPROVE AND ASSIST PUBLIC SCHOOLS, TEACHERS AND THEIR DEPENDENTS AND RETIRED TEACHERS, INCLUDING FINANCIAL ASSISTANCE FOR ELIGIBLE ELDERLY AND RETIRED CHICAGO PUBLIC SCHOOL TEACHERS.

  • THE CHICAGO TEACHERS UNION FOUNDATION, INC. ("FOUNDATION") WAS ORGANIZED FOR EDUCATIONAL AND SOCIAL WELFARE PURPOSES WITHIN THE MEANING OF SECTION 501 (C) (4) OF THE INTERNAL REVENUE CODE. THE FOUNDATION'S CIVIC AND CHARITABLE PURPOSES INCLUDE THE FOLLOWING: SUPPORT OF PROJECTS, PROGRAMS, COMMUNITY ORGANIZATIONS AND OTHER NOT-FOR-PROFIT ORGANIZATIONS THAT PROVIDE SERVICES TO IMPROVE AND ASSIST PUBLIC SCHOOLS, TEACHERS AND THEIR DEPENDENTS AND RETIRED TEACHERS, INCLUDING FINANCIAL ASSISTANCE FOR ELIGIBLE ELDERLY AND RETIRED CHICAGO PUBLIC SCHOOL TEACHERS.

    Expenses $823,812 · Grants $110,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • STACY DAVIS-GATES

    PRESIDENT

    Total calculated
    $210,111
    From this org
    $0
    From related orgs
    $167,118
    Other
    $42,993
    Hours/week
    0.3 + 40.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $150,541 related
    Bonus
    $0
    Other
    $0 + $16,577 related
    Deferred
    $0 + $12,145 related
    Nontaxable benefits
    $0 + $30,848 related
    Filer's total
    $0 + $210,111 related

  • CHRISTEL WILLIAMS

    RECORDING SECRETARY

    Total calculated
    $213,414
    From this org
    $0
    From related orgs
    $152,573
    Other
    $60,841
    Hours/week
    0.3 + 40.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $138,688 related
    Bonus
    $0
    Other
    $0 + $13,885 related
    Deferred
    $0 + $30,056 related
    Nontaxable benefits
    $0 + $30,785 related
    Filer's total
    $0 + $213,414 related

  • JACKSON POTTER

    VICE PRESIDENT

    Total calculated
    $169,076
    From this org
    $0
    From related orgs
    $139,109
    Other
    $29,967
    Hours/week
    0.3 + 40.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $139,109 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,010 related
    Nontaxable benefits
    $0 + $19,957 related
    Filer's total
    $0 + $169,076 related

  • MARIA MORENO

    FINANCIAL SECRETARY

    Total calculated
    $177,735
    From this org
    $0
    From related orgs
    $154,952
    Other
    $22,783
    Hours/week
    0.3 + 40.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $141,067 related
    Bonus
    $0
    Other
    $0 + $13,885 related
    Deferred
    $0 + $11,095 related
    Nontaxable benefits
    $0 + $11,688 related
    Filer's total
    $0 + $177,735 related

  • ERIC LATTYAK

    CHIEF ENGINEER

    Total calculated
    $184,454
    From this org
    $156,562
    From related orgs
    $0
    Other
    $27,892
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,562
    Bonus
    $0
    Other
    $0
    Deferred
    $12,000
    Nontaxable benefits
    $15,892
    Filer's total
    $184,454

  • CHARISE BENNETT

    DIRECTOR OF OPERATIONS

    Total calculated
    $114,507
    From this org
    $102,197
    From related orgs
    $0
    Other
    $12,310
    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

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
15 May 2025
IRS schema version
2023v6.0
Source object
202531359349316098

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