Overview
What is The Chicago Network Inc?
The Chicago Network Inc is a renowned nonprofit organization situated in Chicago, Illinois, with a significant presence at 737 North Michigan Avenue 1900. Its primary mission is to foster personal and professional growth among its members and contribute to the betterment of the city's civic, business, and philanthropic communities. The organization takes an active role in supporting the next generation of women leaders, offering them opportunities to excel through initiatives such as the Launchpad Women's Leadership Summit. This event provides valuable programming, tools, and insights to help emerging female leaders achieve their career aspirations. The Chicago Network Inc also strives to educate the public and its members on issues related to women's advancement in the workplace, embodying its charitable and educational goals. With a dedicated workforce of 7 individuals, the Network continues to inspire and support the next generation of women leaders in Chicago.
Official website here: www.thechicagonetwork.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (56%)
The Chicago Network Inc holds a low rating of 56% from Charity Navigator, reflecting significant concerns in its financial management and program expenses. The organization has achieved maximum scores in areas such as board independence and financial oversight, indicating a well-structured governance framework. However, the overall accountability and financial performance metrics highlight weaknesses, particularly in program expenditure and asset management.
Despite having a fully independent board and strong audit practices, the organization’s program expense ratio of just 30.16% suggests that a relatively small portion of its funds is directed towards its core mission. Additionally, the liabilities to assets ratio is concerning at 20.74%, which may indicate potential financial instability or inefficiency in resource allocation.
The absence of the tax form on the nonprofit's website raises transparency issues, which could contribute to the low rating. While the organization demonstrates solid governance practices, the concerns regarding financial health and program funding cannot be overlooked, ultimately impacting its effectiveness in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is The Chicago Network Inc legitimate?
The Chicago Network Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Chicago Network Inc 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $415,399
Professional Fundraising Fees: $0
Other Salaries and Wages: $170,761
For more financial information, click here
Official website here: www.thechicagonetwork.org
What is the mission statement of The Chicago Network Inc?
The Chicago Network Inc, as a charitable and educational organization, primarily focuses on providing educational opportunities to its members and the public, centering around the advancement of women in the workplace. Emphasizing its role as a leading organization for professional women in Chicago, it encourages networking and personal growth among its members. The Network also contributes to the advancement of civic, business, and philanthropic communities. Furthermore, it serves as a source of inspiration and support for the next generation of women leaders.
Official website here: www.thechicagonetwork.org
Who is the CEO of The Chicago Network Inc?
Maria Doughty is the Chair of The Chicago Network Inc. The CEO's salary of The Chicago Network Inc is $378,250 and their total compensation is $399,494.
Official website here: www.thechicagonetwork.org
What is the revenue of The Chicago Network Inc?
The Chicago Network Inc's revenue in 2022 was $1,399,879.
Official website here: www.thechicagonetwork.org
Who are the executives of The Chicago Network Inc and what are their salaries?
The average compensation at The Chicago Network Inc during 2022 was $83,737. There are 7 employees and 175 volunteers at The Chicago Network Inc.
Here are 22 key members and their salaries (The Chicago Network Inc's CEO's salary is $378,250 and their total compensation is $399,494):
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- Compensation: $378,250
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- Other: $21,244
Official website here: www.thechicagonetwork.org
Where can I find the form 990 for The Chicago Network Inc?
The Chicago Network Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thechicagonetwork.org
Learn more at the official website: www.thechicagonetwork.org
Mission Statement of The Chicago Network Inc
The Chicago Network Inc, a renowned organization, is dedicated to fostering the advancement of women in the professional sphere. As a charitable and educational entity, it primarily focuses on providing educational opportunities for its members and the broader public. By encouraging connections among its leading professional women, The Chicago Network Inc aims to promote personal and professional growth. The organization also seeks to contribute positively to civic, business, and philanthropic communities. Furthermore, it inspires and supports the development of future female leaders, acting as a catalyst for change in the realm of women's advancement in the workplace.
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Impact
October, 2024
The Chicago Network Inc plays a pivotal role in elevating the status of women in the workplace through its multifaceted educational initiatives. By fostering connections among leading professional women, it creates a robust support system that encourages personal and professional growth. One of its standout programs, the Launchpad Women's Leadership Summit, equips emerging female leaders with valuable insights and practical tools to navigate their careers effectively.
Through a commitment to educating both members and the broader public, The Chicago Network actively addresses issues related to women's advancement, thereby creating a more inclusive civic, business, and philanthropic landscape. Its efforts cultivate a new generation of women leaders, ensuring that the legacy of empowerment continues. This impact resonates throughout Chicago, making substantial strides toward community improvement and gender equality in professional environments. By collaborating and sharing resources, The Chicago Network not only enriches the lives of individual women but also strengthens the community as a whole.
This information is meant to be a general summary of The Chicago Network Inc. 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.
- Investment Income: $46,739
- Gross Receipts: $1,620,019
Assets and Liabilities:
- Total Assets: $2,416,958
- Total Liabilities: $560,003
- Net Assets: $1,856,955
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Organization Details
Founding Year
1979
Phone
(312) 787-1979Principal Officer
Maria Doughty
Main Address
737 North Michigan Avenue 1900, Chicago, IL, 60611
Website
www.thechicagonetwork.orgNTEE Category
Code: S81 - Community improvement
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