The First Spoke Foundation
- Assets
- $10.1m
- Revenue
- $552.7k
- Investments
- $9.4m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 09/2004
- Data as of
- 06/2021
- EIN
- 20-0894628
Organization Overview
The First Spoke Foundation is located in Chicago, IL. The organization was established in 2004. According to its NTEE Classification (X11) the organization is classified as: Single Organization Support, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Spoke Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, First Spoke Foundation generated $552.7k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $4.5m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, First Spoke Foundation has awarded 133 individual grants totaling $18,769,375. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION IS ORGANIZED TO FOSTER, PROMOTE, SUPPORT, DEVELOP, ENCOURAGE AND MAINTAIN THE BROAD CHARITABLE, EDUCATIONAL AND/OR RELIGIOUS PURPOSES OF, THE JEWISH FEDERATION OF METROPOLITAN CHICAGO AND THE FOUNDATION AS AUTHORIZED IN THEIR BY-LAWS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MAKES GRANTS TO CHARITABLE ORGANIZATIONS, ALL OF WHICH MEET THE GUIDELINES OF THE BY-LAWS OF THE FOUNDATION AND THE CHARTER OF THE JEWISH FEDERATION OF METROPOLITAN CHICAGO. ALL OF THESE ORGANIZATIONS ARE EXEMPT UNDER IRC SECTION 501(C)(3).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael J Krasny President | OfficerTrustee | 0.3 | $0 |
Wendy Berger Shapiro Secretary | OfficerTrustee | 0.3 | $0 |
Lonnie Nasatir Treasurer | OfficerTrustee | 0.3 | $0 |
James A Pinkston Assistant Treasurer | Officer | 0.3 | $0 |
Rose Jagust Assistant Secretary | Officer | 0.3 | $0 |
Adam Levine Vice President | Officer | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $11,056 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $541,612 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $552,668 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,412,375 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,034 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $10 |
| Total functional expenses | $4,462,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $693,068 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $9,431,345 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,124,413 |
| Accounts payable and accrued expenses | $3,600 |
| Grants payable | $1,025,000 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,028,600 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $9,095,813 |
| Total liabilities and net assets/fund balances | $10,124,413 |
Grants Awarded
Over the last fiscal year, The First Spoke Foundation has awarded $4,412,375 in support to 46 organizations.
| Grant Recipient | Amount |
|---|---|
Pasadena, CA PURPOSE: General Operating Support | $500,000 |
Chicago, IL PURPOSE: General Operating Support | $500,000 |
New York, NY PURPOSE: General Operating Support | $500,000 |
Chicago, IL PURPOSE: General Operating Support | $300,000 |
Chicago, IL PURPOSE: General Operating Support | $250,000 |
New York, NY PURPOSE: General Operating Support | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The First Spoke Foundation Chicago, IL | $10,124,413 | $552,668 |
Catholic Foundation For The Archdiocese Of Dubuque Cedar Rapids, IA | $127,453,113 | $10,700,862 |
Grace Brethren Investment Foundation Inc Winona Lake, IN | $110,003,022 | $4,308,354 |
St Joseph Real Estate Services Corporation Green Bay, WI | $9,099,106 | $3,700,773 |
Bible League Foundation Crete, IL | $15,182,240 | $1,097,305 |
Chicago Southwest Development Corporation Chicago, IL | $14,735,476 | $67,891 |
Religion News Foundation Columbia, MO | $2,784,139 | $2,640,609 |
Calvin B Beach Trust 01-13620 Po Box Chicago, IL | $5,695,051 | $2,192,787 |
Ancient Faith Ministries Chesterton, IN | $2,111,722 | $3,110,597 |
City On A Hill Inc Milwaukee, WI | $1,825,972 | $1,822,673 |
Apostolic Christian Counseling And Family Services Inc Morton, IL | $2,415,352 | $1,859,665 |
Eastern Star Jewel Human Services Corporation Indianapolis, IN | $15,251,442 | $10,957,782 |