Chicago Innovation Foundation
- Assets
- $307.5k
- Revenue
- $652.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 09/2011
- Data as of
- 12/2022
- EIN
- 45-1225075
Organization Overview
Chicago Innovation Foundation is located in Chicago, IL. The organization was established in 2011. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, 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 Innovation 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 12/2022, Chicago Innovation Foundation generated $652.7k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $649.7k during the year ending 12/2022. While expenses have increased by 13.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Chicago Innovation Foundation has awarded 57 individual grants totaling $181,074. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS TO OTHER PUBLIC CHARITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Kuczmarski President | 20 | $0 | |
Rosalyn King Treasurer | 15 | $0 | |
Luke Tanen Executive Director | 15 | $108,777 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $652,729 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $652,729 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $108,777 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $1,525 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $21,428 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $298,029 |
| Total operating and administrative expenses | $623,274 |
| Contributions, gifts, grants paid | $26,400 |
| Total expenses and disbursements | $649,674 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $307,549 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $307,549 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Chicago Innovation Foundation has awarded $26,400 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CHICAGO INVENTORS ORGANIZATION PURPOSE: PROVIDES RESOURCES TO INVENTORS IN NAVIGATING THE COMPLEX INVENTION PROCESS TO CREATE MARKETABLE PRODUCTS | $5,000 |
THE VILLAGE CHICAGO PURPOSE: ENHANCE THE QUALITY OF LIFE AND ENRICHING THE EXPERIENCE OF AGING IN OUR COMMUNITIES | $10,000 |
IES ABROAD PURPOSE: FOSTER GLOBAL LEADERSHIP THROUGH STUDY ABROAD OPPORTUNITIES | $400 |
P33 CHICAGO PURPOSE: PROMOTE INCLUSIVE ECONOMIC GROWTH THROUGH TECHNOLOGY AND INNOVATION | $10,000 |
CHICAGO HELP INITIATIVE PURPOSE: PROVIDING ACCESS TO FOOD, HEALTH SERVICES, SHELTER AND EMPLOYMENT FOR DISADVANTAGED CITIZENS OF CHICAGO | $1,000 |