Overview
What is Chicago Family Business Council Inc?
Chicago Family Business Council Inc, also known as Entrepreneur and Family Business Council, is a nonprofit organization situated in Chicago, Illinois. Their mission is to support entrepreneurs, family businesses, and closely held companies by offering a unique peer-support system and educational programs. These initiatives aim to provide growth strategies for business leaders, their employees, families, and businesses. The organization conducts educational programming, peer-to-peer forum groups, encourages scholarships, and carries out research in the field of family business and emotional intelligence. They also organize presentations and workshops featuring renowned speakers and practical hands-on workshops. The forums and programs at EFBC provide an environment for members to develop their emotional intelligence, enhancing their interpersonal skills and relationships.
Official website here: www.myefbc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Chicago Family Business Council Inc, also known as the Entrepreneur and Family Business Council, has achieved a Four-Star rating from Charity Navigator, indicating a high level of financial health and accountability within the organization. With a score of 96%, the nonprofit demonstrates robust governance and a commitment to transparency in its operations, evidenced by a fully independent board and thorough financial oversight.
The organization excels in maintaining high standards for both accountability and financial management. Key strengths include a perfect score for having a majority of independent board members and no reported material diversion of assets. Additionally, the council has excellent program expense ratios, allocating 89.49% of its expenditures directly to its programs, which signifies a strong focus on fulfilling its mission effectively.
While the ratings highlight significant strengths, it is important for potential supporters to remain aware of the overall context and challenges that any nonprofit may face. However, the current metrics from Charity Navigator suggest that this organization is well-managed and dedicated to serving its community, making it a trustworthy option for support.
This AI summary has been generated from information found on Charity Navigator.
Is Chicago Family Business Council Inc legitimate?
Chicago Family Business Council Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chicago Family Business Council 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: $96,289
Professional Fundraising Fees: $0
Other Salaries and Wages: $114,386
For more financial information, click here
Official website here: www.myefbc.org
What is the mission statement of Chicago Family Business Council Inc?
The Chicago Family Business Council Inc, formerly known as Entrepreneur and Family Business Council, is an independent non-profit organization dedicated to helping entrepreneurs, family businesses, and closely-held companies achieve their business goals. They accomplish this through a unique peer support system and educational programs, offering growth strategies for CEOs, employees, families, and businesses. The organization has a long-standing relationship with the University of Illinois at Chicago, where it started and still has a room named in its honor. They conduct educational programming, peer-to-peer forum groups, encourage student scholarships, and engage in research in the field of family business and emotional intelligence. The forums, the heartbeat of EFBC, provide a confidential setting for members to share experiences and learn from one another. Members commit to regular meetings and a mandatory retreat, and the organization offers workshops and presentations from well-known business figures. Emotional intelligence is emphasized to help members communicate effectively with others.
Official website here: www.myefbc.org
Who is the CEO of Chicago Family Business Council Inc?
Elizabeth Fidanovski is the Executive Dir. of Chicago Family Business Council Inc.
Official website here: www.myefbc.org
What is the revenue of Chicago Family Business Council Inc?
Chicago Family Business Council Inc's revenue in 2022 was $576,286.
Official website here: www.myefbc.org
Who are the executives of Chicago Family Business Council Inc and what are their salaries?
The average compensation at Chicago Family Business Council Inc during 2022 was $42,135. There are 5 employees and 52 volunteers at Chicago Family Business Council Inc.
Here are 11 key members and their salaries:
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Official website here: www.myefbc.org
Where can I find the form 990 for Chicago Family Business Council Inc?
Chicago Family Business Council Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.myefbc.org
Learn more at the official website: www.myefbc.org
Mission Statement of Chicago Family Business Council Inc
Chicago Family Business Council, formerly known as the Family Business Council, is a nonprofit organization dedicated to supporting entrepreneurs, family businesses, and closely held companies. Its mission is to aid these entities in achieving their business goals through a unique peer support system and related educational programs. These programs provide growth strategies for chief executives, their employees, their families, and their businesses. Established in 1993, the Council had its roots at the University of Illinois at Chicago, where it operated for nearly two decades. In 2011, it became an independent organization and continues to promote educational and charitable purposes for family, closely held, and entrepreneurial businesses through activities such as educational programming, peer-to-peer forum groups, and encouragement of student scholarships for involvement in the field of family business and emotional intelligence.
The heart of Chicago Family Business Council's work lies in its forum groups. These confidential settings allow members to share their business, family, and personal experiences, drawing on the collective wisdom of their peers to make informed decisions. Each forum is capped at nine members, ensuring diversity and a rich set of perspectives. Members commit to attending nine meetings a year and a mandatory three-day, two-night retreat. The Council also offers educational programs, including workshops on practical business skills, leadership training, and courses in family business 101 and strategic planning. They invite well-known business and cultural figures to share their insights and offer hands-on workshops led by industry experts.
Chicago Family Business Council places a strong emphasis on emotional intelligence, a concept that helps members communicate effectively and build stronger relationships. Through its forums and PdEI (Peer development for Emotional Intelligence) training methodology, members can improve their self-awareness, empathy, listening skills, and decision-making abilities. This focus on emotional intelligence is a key differentiator for the Council, as it equips members with the necessary skills to navigate the complexities of running a family business or closely held company.
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Impact
July, 2024
Chicago Family Business Council Inc dba Entrepreneur And Family Business Council's impact is significant in the entrepreneurial and family business community. The organization provides a unique peer support system and educational programs that help entrepreneurs, family businesses, and closely-held companies achieve their business goals. Through activities such as forums, presentations, workshops, and emphasis on emotional intelligence, EFBC members benefit from shared experiences, practical business skills, and improved social interactions. This results in stronger leaders, better decision-making, deeper relationships, and ultimately contributes to the growth and success of these businesses.
This information is meant to be a general summary of Chicago Family Business Council 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: $2,971
- Program Service Revenue: $545,529
- Gross Receipts: $646,791
Assets and Liabilities:
- Total Assets: $667,585
- Total Liabilities: $153,818
- Net Assets: $513,767
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP FEES
Revenue
$519,771
PROGRAM REGISTRATION FEES
Revenue
$25,758
Organization Details
Founding Year
2011
Phone
(312) 362-7518Principal Officer
Elizabeth Fidanovski
Main Address
1 EAST JACKSON BLVD 7900, CHICAGO, IL, 60604
Website
www.myefbc.orgNTEE Category
Code: S41 - Community improvement
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