Chicago Scholars
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
Chicago Scholars does not meet the following 4 Standards for Charity Accountability:
Standard 3 (Frequency and Attendance of Board Meetings)
An organization shall have a minimum of three evenly spaced meetings per year of the full governing body with a majority in attendance, with face-to-face participation. A conference call of the full board can substitute for one of the three meetings of the governing body. For all meetings, alternative modes of participation are acceptable for those with physical disabilities.
Chicago Scholars does not meet this standard because:
Organization had only one board meeting with majority attendance in the past year.
Standard 6 (Board Policy on Effectiveness)
Have a board policy of assessing, no less than every two years, the organization's performance and effectiveness and of determining future actions required to achieve its mission.
Chicago Scholars does not meet this standard because:
Organization does not have a board-approved effectiveness policy.
Standard 16 (Annual Report)
Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.
Chicago Scholars does not meet this standard because:
Organization does not have an annual report from within the past two years.
Standard 18 (Privacy for Written Appeals & Internet Privacy)
Address privacy concerns of donors by (a) providing in written appeals, at least annually, a means (e.g., such as a check off box) for both new and continuing donors to inform the charity if they do not want their name and address shared outside the organization, (b) providing a clear, prominent and easily accessible privacy policy on any of its websites that tells visitors (i) what information, if any, is being collected about them by the charity and how this information will be used, (ii) how to contact the charity to review personal information collected and request corrections, (iii) how to inform the charity (e.g., a check off box) that the visitor does not wish his/her personal information to be shared outside the organization, and (iv) what security measures the charity has in place to protect personal information.
Chicago Scholars does not meet this standard because:
Organization's privacy policy does not contain information on how a user can contact the organization regarding their personal information.
The BBB Wise Giving Alliance requested but did not receive complete information from the organization and is unable to verify the organization's compliance with the following Standard(s) for Charity Accountability: 15
Chicago Scholars meets the remaining 15 Standards for Charity Accountability.
Stated Purpose:
Our mission is to uniquely select, train, and mentor academically ambitious students from under-resourced communities to complete college and become the next generation of leaders who will transform their neighborhoods and our city.
Year, State Incorporated:
1996, IL
Chicago Scholars is a nonprofit leadership development organization that empowers academically ambitious, under-resourced, and first-generation students to overcome systemic barriers to success in college and beyond while preparing the city’s businesses and organizations for the next generation of leaders. Our mission is to uniquely select, train, and mentor academically ambitious students from under-resourced communities to complete college and become the next generation of leaders who will transform their neighborhoods and our city.
Since 1996, Chicago Scholars has transformed the lives of more than 6,000 students from all 77 neighborhoods in Chicago. Our 7-year, holistic program begins the summer after the students’ junior year of high school and supports them through critical transitions to and through college, and into careers. Chicago Scholars' Theory of Change focuses on preparing Scholars for the world and preparing the world for Scholars. The theory is grounded in the belief that student outcomes are optimized when we work simultaneously to change student behaviors along with the policies, supports, and practices of the colleges where students enroll, and ultimately the companies or organizations where they will work. Our curriculum includes mentorship, individualized college counseling, career coaching, internship opportunities, and leadership skill development.
Chicago Scholars’ programming does not stop with a college degree. At its core, Chicago Scholars’ work is about economic mobility, leadership development, and belonging. Chicago Scholars envisions a vibrant Chicago empowered by diverse leaders from every neighborhood in Chicago. Career and leadership development is infused into every aspect of our 7-year program. After providing our Scholars with hands-on support to gain college acceptance during year one, we spend the next six years helping them gain access to key internships, opportunities, and networks that will lead them to their first jobs and launch life-changing careers.
For the year ended June 30, 2023, Chicago Scholars's program expenses were:
| Scholars Program | $5,204,058 |
| REACH | $645,699 |
| Total Program Expenses | $5,849,757 |
Chief Executive
Jeffery Beckham, CEO
Chair of the Board
Nathan Ulery, Board Chairperson
Chair's Profession / Business Affiliation
Resultant
Board Size
37
Paid Staff Size
44
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 Chicago Scholars's audited financial statements - consolidated for the year ended June 30, 2023.
Source of Funds
| Contributions and grants | $6,096,403 |
| Investment income, net | $416,251 |
| Program service fees | $399,394 |
| Special events revenue, less 119,956 in direct benefit to donors | $354,152 |
| Contributed nonfinancial assets | $118,070 |
| Other income | $2,397 |
| Total Income | $7,386,667 |
Programs: 73% Fundraising: 13% Administrative: 14%
| Total Income | $7,386,667 |
| Total expenses: | $8,041,162 |
| Program expenses | $5,849,757 |
| Fundraising expenses | $1,068,019 |
| Administrative expenses | $1,123,386 |
| Other expenses | $0 |
| Income in Excess of Expenses | $-654,495 |
| Beginning Net Assets | $9,440,977 |
| Other Changes In Net Assets | $150,000 |
| Ending Net Assets | $8,936,482 |
| Total Liabilities | $1,487,854 |
| Total Assets | $10,424,336 |
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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Meets Standards
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Standards Not Met
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Review in Progress
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Unable to Verify
Report completed by:
BBB of Chicago & Northern Illinois