Overview
What is Chicago Loop Alliance Foundation?
The Chicago Loop Alliance Foundation, a 501(c)(3) organization, is situated at 55 West Monroe Street 2660, Chicago, Illinois. Their primary mission is to foster artistic, cultural, and public events that contribute positively to businesses, individuals, and stakeholders within the Chicago Loop Alliance's service area. This nonprofit organization is closely associated with Chicago Loop Alliance, a 501(c)(6) entity, whose mission is to boost the Loop's competitive edge as a mixed-use hub and stimulate economic growth and tourism in the area. The Chicago Loop Alliance comprises over 200 businesses and organizations situated within the Loop and Chicago. The Chicago Loop Alliance Foundation's activities aim to uplift the area and its stakeholders through engaging events and projects.
Official website here: www.loopchicago.com
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 81%
The Chicago Loop Alliance Foundation has received a Three-Star out of Four Star rating from Charity Navigator, indicating a solid performance in terms of accountability and finance. With an overall score of 81%, the organization demonstrates transparency in its operations, particularly with 100% of its board members being independent. This level of independence is crucial for effective governance and helps to ensure that the foundation operates in the best interests of its mission.
Financially, the foundation shows strong management, with a program expense ratio of 76.47%, signifying that a significant portion of its budget is directed toward its programs. Furthermore, the absence of material diversion of assets enhances its credibility, as does the presence of established policies for conflict of interest, whistleblowing, and document retention. These elements indicate a commitment to ethical governance and responsible fiscal practices.
While the foundation's overall ratings are commendable, the data suggests areas for ongoing improvement, particularly in expanding its financial reserves as evidenced by its liabilities to assets ratio of 30.61%. Continued focus on strengthening financial health and enhancing program outreach will be essential for furthering its impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Chicago Loop Alliance Foundation legitimate?
Chicago Loop Alliance Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chicago Loop Alliance Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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For more financial information, click here
Official website here: www.loopchicago.com
What is the mission statement of Chicago Loop Alliance Foundation?
The Chicago Loop Alliance Foundation, a 501(c)(3) organization, is dedicated to cultivating, fostering, and promoting artistic, cultural, and public events. These events aim to positively impact businesses, individuals, and stakeholders within the area served by the Chicago Loop Alliance (CLA). The Chicago Loop Alliance Foundation is affiliated with CLA, a 501(c)(6) organization, whose mission is to bolster the Loop's competitive standing as a mixed-use destination and encourage economic development and tourism within the Loop. The CLA boasts a membership of over 200 businesses and organizations situated within the Loop and Chicago.
Official website here: www.loopchicago.com
Who is the CEO of Chicago Loop Alliance Foundation?
Jean De St Aubin is the Immediate Past Chairman of Chicago Loop Alliance Foundation.
Official website here: www.loopchicago.com
What is the revenue of Chicago Loop Alliance Foundation?
Chicago Loop Alliance Foundation's revenue in 2022 was $788,484.
Official website here: www.loopchicago.com
Who are the executives of Chicago Loop Alliance Foundation and what are their salaries?
Here are 55 key members and their salaries:
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Official website here: www.loopchicago.com
Where can I find the form 990 for Chicago Loop Alliance Foundation?
Chicago Loop Alliance Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.loopchicago.com
Learn more at the official website: www.loopchicago.com
Mission Statement of Chicago Loop Alliance Foundation
The Chicago Loop Alliance Foundation, a 501(c)(3) organization, is dedicated to advancing and enhancing artistic, cultural, and public events within the Chicago Loop Alliance's service area. This mission aligns with the broader objectives of its affiliated body, the Chicago Loop Alliance, a 501(c)(6) organization. The Chicago Loop Alliance strives to amplify the Loop's standing as an all-encompassing business and leisure hub, fostering economic growth and tourism in the area. The Chicago Loop Alliance Foundation, in turn, contributes to this initiative by actively supporting and promoting events that cater to various stakeholders, including businesses, individuals, and local communities within the Loop. The Chicago Loop Alliance Foundation's efforts aim to enrich the area's cultural landscape and contribute positively to the overall well-being of the Loop community.
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Impact
October, 2024
Chicago Loop Alliance Foundation significantly enhances the cultural and economic landscape of the Loop by developing, supporting, and promoting artistic and public events. These initiatives not only enrich the community's cultural fabric but also foster engagement among businesses, individuals, and stakeholders in the area. By facilitating events that attract visitors and residents alike, the Foundation plays a crucial role in strengthening the Loop's appeal as a mixed-use destination.
Through its efforts, the Foundation helps stimulate economic development, encouraging tourism and providing opportunities for local businesses to thrive. By collaborating with over 200 member organizations and businesses, it nurtures a vibrant community atmosphere that benefits everyone involved. The impact of CLAF extends beyond just events; it enhances the overall quality of life in the Loop, making it a more dynamic and inviting place to live, work, and visit.
This information is meant to be a general summary of Chicago Loop Alliance Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $669,038
- Gross Receipts: $884,263
Assets and Liabilities:
- Total Assets: $520,565
- Total Liabilities: $159,379
- Net Assets: $361,186
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Program - Other
Revenue
$592,588
Program - Annual meeti
Revenue
$76,450
Organization Details
Founding Year
2008
Phone
(312) 782-9160Principal Officer
Jean De St Aubin
Main Address
55 West Monroe Street 2660, Chicago, IL, 60603
Website
www.loopchicago.comNTEE Category
Code: B99 - Education
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