Chiarts Foundation
- Assets
- $4.9m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 7
- Location
- Chicago, IL
- Founding
- Data as of
- 12/2021
- EIN
- 85-1586666
Organization Overview
Chiarts Foundation is located in Chicago, IL. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 12/2021, Chiarts Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chiarts 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 12/2021, Chiarts Foundation generated $6.2m in total revenue. All expenses for the organization totaled $1.9m during the year ending 12/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT AND PROMOTION OF ARTS EDUCATION PROGRAMS AT CHICAGO HIGH SCHOOL FOR THE ARTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT AND PROMOTION OF THE DEVELOPMENT AND DELIVERY OF ARTS EDUCATION PROGRAMS FOR THE CHICAGO HIGH SCHOOL FOR THE ARTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jose O Ochoa President | Officer | 40 | $182,145 |
John D Merrifield Director Of Development & Marketing | 40 | $100,541 | |
Erin Clifford Secretary | OfficerTrustee | 4 | $0 |
Ronald Grais Board Chair | OfficerTrustee | 4 | $0 |
Shruti Jayaraman Vice Chair | OfficerTrustee | 4 | $0 |
Christina Huizar Treasurer | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $291,602 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,920,567 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,212,169 |
| Total Program Service Revenue | $13,101 |
| Investment income | $3,708 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$24,299 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,204,679 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,040,124 |
| 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. | $203,639 |
| Compensation of current officers, directors, key employees. | $101,819 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $373,061 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $55,739 |
| Payroll taxes | $39,500 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $40,544 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,385 |
| Advertising and promotion | $0 |
| Office expenses | $15,793 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,268 |
| 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 | $10,916 |
| All other expenses | $0 |
| Total functional expenses | $1,882,319 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,623,861 |
| Savings and temporary cash investments | $250,135 |
| Pledges and grants receivable | $800,000 |
| Accounts receivable, net | $416,667 |
| 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 | $11,072 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $809,904 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,911,639 |
| Accounts payable and accrued expenses | $434,534 |
| Grants payable | $0 |
| 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 | $434,534 |
| Net assets without donor restrictions | $3,062,105 |
| Net assets with donor restrictions | $1,415,000 |
| 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 | $4,911,639 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Chiarts Foundation has recieved totaling $1,795,083.
| Awarding Organization | Amount |
|---|---|
Central Indiana Community Foundation Inc Indianapolis, IN PURPOSE: General operating and capacity building | $825,000 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: IN SUPPORT OF GENERAL OPERATIONS. | $150,000 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: IN SUPPORT OF GENERAL OPERATIONS. | $150,000 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: IN SUPPORT OF GENERAL OPERATIONS. | $150,000 |
Caerus Foundation Inc Northbrook, IL PURPOSE: CHIARTS NOVICE ARTS ACCESS AND OUTREACH PROGRAMS | $100,000 |
Arie And Ida Crown Memorial Chicago, IL PURPOSE: GENERAL OPERATING | $83,333 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ivy Tech Foundation Inc Indianapolis, IN | $133,152,328 | $30,082,278 |
Umkc Foundation Kansas City, MO | $70,681,044 | $43,162,989 |
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
Illinois State University Foundation Normal, IL | $269,993,016 | $34,747,700 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Southern Illinois University Foundation Carbondale, IL | $260,208,288 | $31,565,742 |
St Louis Charter Schools St Louis, MO | $19,224,709 | $16,300,473 |
Linda Hall Library Trust Kansas City, MO | $201,287,634 | $7,552,380 |
University Research Park Inc Madison, WI | $162,117,796 | $19,527,506 |
Private Education-Employers Trust St Louis, MO | $386,613 | $11,502,248 |
Northern Illinois University Foundation Dekalb, IL | $169,106,712 | $31,131,654 |
Grinnell College Medical Benefit Plan Trust Agreement Grinnell, IA | $11,174,588 | $9,791,771 |