Chicago Bulls Charities
- Assets
- $4.4m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 12/1991
- Data as of
- 06/2022
- EIN
- 36-3544506
Organization Overview
Chicago Bulls Charities is located in Chicago, IL. The organization was established in 1991. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Bulls Charities 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 06/2022, Chicago Bulls Charities generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $2.0m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Chicago Bulls Charities has awarded 95 individual grants totaling $8,284,858. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE A POSITIVE IMPACT ON THE LIVES OF CHICAGOANS IN NEED.
Describe the Organization's Program Activity:
PROVIDE FINANCIAL ASSISTANCE TO SUPPORT YOUTH EDUCATION, YOUTH HEALTH AND WELLNESS, VIOLENCE PREVENTION, AND MILITARY AND FIRST RESPONDER SUPPORT PROGRAMS THAT BENEFIT UNDERSERVED CHICAGOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ram Padmanabhan Director/ Secretary | OfficerTrustee | 1 | $0 |
John Paxson Director | Trustee | 1 | $0 |
Michael Reinsdorf Director | Trustee | 1 | $0 |
Adrienne Scherenzel-Curry Executive Director | Officer | 1 | $0 |
Kieran Kelliher Treasurer | Officer | 1 | $0 |
Nancy Reinsdorf President | Officer | 1 | $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 | $1,509,800 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,509,800 |
| Total Program Service Revenue | $0 |
| Investment income | $10,749 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,417 |
| Net Income from Fundraising Events | $147,064 |
| Net Income from Gaming Activities | $108,005 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,784,035 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,744,001 |
| 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 | $30,879 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,368 |
| 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 | $130,149 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,968,690 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $136,612 |
| Savings and temporary cash investments | $2,185,502 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $760,000 |
| 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 | $1,336,413 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,418,527 |
| Accounts payable and accrued expenses | $45,728 |
| Grants payable | $921,980 |
| 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 | $967,708 |
| Net assets without donor restrictions | $3,450,819 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $4,418,527 |
Grants Awarded
Over the last fiscal year, Chicago Bulls Charities has awarded $1,719,001 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
MCCORMICK FOUNDATION PURPOSE: Program support | $516,021 |
SPECTRIOS INSTITUTE FOR THE LOW VISION PURPOSE: Program support | $250,000 |
SPECTRIOS INSTITUTE FOR THE LOW VISION PURPOSE: Program support - Accrual years 2-4 | $721,980 |
PUSH EXCEL PURPOSE: Program support | $100,000 |
CHICAGO MOBILE MAKERS PURPOSE: Program support | $30,000 |
NOAH'S ARC FOUNDATION PURPOSE: Program support | $6,000 |