Overview
What is The Chicago Scholars Foundation?
The Chicago Scholars Foundation is a renowned nonprofit organization that offers a comprehensive seven-year program to academically ambitious students from underprivileged communities. This program begins in the scholar's senior year of high school and continues through college, culminating in two years of leadership development. The foundation assists scholars in applying to colleges that suit their academic, social, and financial needs. The holistic approach aims to help scholars find colleges where they can build a sense of community and belonging. Throughout the program, the foundation provides unique scholarship opportunities, continued mentorship, and a supportive network of individuals. This support helps scholars persist through college, thrive in their studies, and graduate with degrees that lead to meaningful careers, higher salaries, and economic mobility. The Chicago Scholars' career programming also equips scholars with access to key internships, opportunities, and networks that can launch their careers. As of now, more than 5,000 students have participated in or completed the program. Approximately 93% of scholars and alumni are people of color, 90% are low-income, and 82% are first-generation college students, representing all 77 Chicago community areas. Historically, 95% of scholars matriculate to college in the fall following high school graduation on time and 78% earn their degrees within six years. Scholars have attended or graduated from over 550 colleges and universities worldwide. The foundation partners with more than 130 colleges and universities to ensure scholars can find the right match, fit, and financial fit for them.
Official website here: www.chicagoscholars.org
What are the reviews and ratings of this charity?
The Chicago Scholars Foundation has earned a Four-Star out of Four Star rating from Charity Navigator, reflecting an impressive overall score of 99%. This high rating is indicative of the organization’s strong performance in Accountability & Finance, where it scored 74%. Notably, the organization has demonstrated a commitment to transparency and effective governance, with a majority of independent board members and solid financial oversight.
The strengths of the Chicago Scholars Foundation include a remarkable culture and community score of 100%, showcasing its dedication to equity and the community it serves. Their proactive approach to collecting and utilizing feedback has garnered perfect scores in these areas, indicating that they are responsive to the needs of their constituents. The organization also exhibits strong financial health, with a program expense ratio of approximately 69% and an efficient fundraising model.
However, the rating does highlight some limitations, particularly in the Leadership & Adaptability category, where they scored just 10%. While they have initiatives in place such as the Equity for Young Men of Color Program, there appears to be room for improvement in demonstrating leadership effectiveness. Overall, while the Chicago Scholars Foundation shows robust fiscal responsibility and community engagement, the organizational structure and adaptability aspects could be areas for further enhancement.
This AI summary has been generated from information found on Charity Navigator.
Is The Chicago Scholars Foundation legitimate?
The Chicago Scholars Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Chicago Scholars 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $848,190
Professional Fundraising Fees: $109,000
Other Salaries and Wages: $2,645,084
For more financial information, click here
Official website here: www.chicagoscholars.org
What is the mission statement of The Chicago Scholars Foundation?
The Chicago Scholars Foundation aims to transform the leadership landscape by addressing the fundamental barriers to success for academically driven, first-generation college students from under-resourced communities. Through college counseling, mentoring, and providing a supportive community, the foundation ensures that these students realize their full potential as students and leaders. By offering programs such as College Access: Launch, College Persistence: Lift, and College to Careers: Lead, they help students navigate their college journey and ultimately become the next generation of leaders who will positively impact their communities.
Official website here: www.chicagoscholars.org
Who is the CEO of The Chicago Scholars Foundation?
Jeffery Beckham Jr is the President And Coo of The Chicago Scholars Foundation. The CEO's salary of The Chicago Scholars Foundation is $201,206 and their total compensation is $221,797.
Official website here: www.chicagoscholars.org
What is the revenue of The Chicago Scholars Foundation?
The Chicago Scholars Foundation's revenue in 2022 was $7,151,418.
Official website here: www.chicagoscholars.org
Who are the executives of The Chicago Scholars Foundation and what are their salaries?
The average compensation at The Chicago Scholars Foundation during 2022 was $38,388. There are 91 employees and 841 volunteers at The Chicago Scholars Foundation.
Here are 37 key members and their salaries (The Chicago Scholars Foundation's CEO's salary is $201,206 and their total compensation is $221,797):
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- Other: $15,356
- Compensation: $201,206
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- Other: $3,624
Official website here: www.chicagoscholars.org
Where can I find the form 990 for The Chicago Scholars Foundation?
The Chicago Scholars Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.chicagoscholars.org
Learn more at the official website: www.chicagoscholars.org
Mission Statement of The Chicago Scholars Foundation
The Chicago Scholars Foundation is dedicated to transforming the leadership landscape of the city by addressing the fundamental barriers to success for academically driven, first-generation college students hailing from under-resourced communities. Through their comprehensive program, they select, train, and mentor these students, guiding them from their college access phase to their careers, ensuring they reach their full potential as leaders who will significantly impact their neighborhoods and the city at large.
Their mission involves providing college counseling, mentoring, and creating a supportive community for scholars throughout each stage of their journey: College Access: Launch, College Persistence: Lift, and College to Careers: Lead. The Chicago Scholars Foundation strives to break down the barriers that typically hinder the success of these students, offering them the necessary tools and resources to overcome challenges, excel in their academic endeavors, and ultimately become influential leaders in their communities.
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Impact
October, 2024
The Chicago Scholars Foundation significantly impacts the lives of academically ambitious students from under-resourced communities by guiding them through a comprehensive seven-year program that begins in high school and continues through college. This program equips scholars with essential college counseling, mentoring, and leadership development, addressing the unique challenges faced by first-generation college students.
With a focus on finding the right college match, fit, and financial viability, the foundation ensures that students can build community and foster a sense of belonging in their educational journeys. The results are telling: 95% of scholars matriculate to college on time, and 78% earn their degrees within six years. This success not only leads to meaningful careers but also promotes economic mobility, offering a pathway for these students to uplift their neighborhoods and transform the broader city of Chicago.
The foundation's unique scholarship opportunities, alongside continued mentorship, cultivate an environment where scholars thrive academically and professionally. By connecting students with key internships and networks, Chicago Scholars plays a pivotal role in launching transformative careers for its scholars.
To date, more than 5,000 scholars have benefited from the program, with 93% of participants being people of color, 90% coming from low-income backgrounds, and 82% being first-generation college students. The commitment to continually improving programs and fostering partnerships with over 130 colleges ensures a bright future for a diverse group of students, driving positive change within the city and beyond.
This information is meant to be a general summary of The Chicago Scholars 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.
- Investment Income: $384,070
- Program Service Revenue: $321,352
- Gross Receipts: $9,579,910
Assets and Liabilities:
- Total Assets: $10,050,328
- Total Liabilities: $609,351
- Net Assets: $9,440,977
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE FEES
Revenue
$321,352
Organization Details
Founding Year
1996
Phone
(312) 784-3300Principal Officer
Jeffery Beckham Jr
Main Address
PO BOX 389497, CHICAGO, IL, 606389497
Website
www.chicagoscholars.orgNTEE Category
Code: B80 - Education
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