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CHARITY REVIEW
Issued: October 2025 Expires: October 2027

Bright Promises Foundation

Accredited Charity
Accredited Charity

Meets Standards
Accreditation seal
(312) 704-8260
200 W Madison St Ste 300
Chicago, IL, 60606-3482
https://www.brightpromises.org/
📄 Full Report 🖨️ Print 📋 BBB Charity Standards

Standards For Charity Accountability

Governance

  1. Board Oversight
  2. Board Size
  3. Board Meetings
  4. Board Compensation
  5. Conflict of Interest

Measuring Effectiveness

  1. Effectiveness Policy
  2. Effectiveness Report

Finances

  1. Program Expenses
  2. Fundraising Expenses
  3. Accumulating Funds
  4. Audit Report
  5. Detailed Expense Breakdown
  6. Accurate Expense Reporting
  7. Budget Plan

Fundraising & Info

  1. Truthful Materials
  2. Annual Report
  3. Website Disclosures
  4. Donor Privacy
  5. Cause Marketing Disclosures
  6. Complaints

Bright Promises Foundation meets the 20 Standards for Charity Accountability.

Stated Purpose:
Bright Promises Foundation's mission is to identify, fund, and share solutions to underrecognized needs of children and youth most adversely impacted by inequity. The vision is for a Chicagoland where all children and youth reach their full promise and potential.

Year, State Incorporated:
1869, IL

Bright Promises Foundation is a 501(c)(3) public foundation with more than 155 years of experience advancing equity and opportunity for children and youth in Chicago and across Illinois. As one of the region’s oldest and most trusted children’s foundations, Bright Promises is recognized for its leadership in strengthening the systems that shape children's lives--their homes, schools, and communities--so every young person has the support needed to thrive.

Bright Promises focuses on high-impact, community-driven solutions that address urgent and often underrecognized needs. Last year, Bright Promises partnered with 22 local organizations, reaching more than 11,800 children, youth, and families across 83 program sites. Over $561,000 in direct community investments were distributed, along with capacity-building, evaluation, and shared learning to ensure sustainable, systemic change.

Bright Promises' initiatives target critical areas such as youth mental health, early childhood education, and youth leadership development. By fostering cross-sector collaboration and equipping families, educators, and community leaders, the foundation helps create environments where young people can heal, learn, and lead. This approach ensures that improvements extend beyond individual programs, building a stronger, more equitable future for generations to come.

For the year ended December 31, 2023, Bright Promises Foundation's program expenses were:

Program services $693,637
Total Program Expenses $693,637

Chief Executive
Katherine Korey, Executive Director

Chair of the Board
Nancy Snyder, Board President

Chair's Profession / Business Affiliation
Bon Brise Design

Board Size
19

Paid Staff Size
3

Method(s) Used:
Direct mail appeals, Invitations to fund raising events, Grant proposals, Internet, Appeals via Social Media (Facebook, etc.)

% of Related Contributions on Fundraising: 4.77%

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.

The following information is based on Bright Promises Foundation's audited financial statements for the year ended December 31, 2023.

Source of Funds
Net investment return (loss) $1,146,037
Contributions and grants $1,143,014
Special events (net of costs of direct benefits to donors of $43,687 in 2023) $68,764
Other $1,500
Total Income $2,359,315

Programs: 74% Fundraising: 6% Administrative: 20%

Total Income $2,359,315
Total expenses: $943,351
  Program expenses $693,637
  Fundraising expenses $57,789
  Administrative expenses $191,925
  Other expenses $0
Income in Excess of Expenses $1,415,964
Beginning Net Assets $4,649,545
Other Changes In Net Assets $0
Ending Net Assets $6,065,509
Total Liabilities $186,690
Total Assets $6,252,199

An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.

This report is not to be used for fundraising or promotional purposes.

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Report completed by:
BBB of Chicago & Northern Illinois