2024-11-08T13:17:17-06:00 2023-12-31 882730877 CHERRY BEKAERT ADVISORY LLC 1707 N RANDALL ROAD STE 200 ELGIN IL 60123 990 2023-01-01 364279013 CHICAGO PUBLIC EDUCATION FUND CHIC 3125584500 200 WEST ADAMS 1175 CHICAGO IL 606065230 HEATHER Y ANICHINI PRESIDENT & CHIEF EXECUTIVE OFFICER 3125584500 2024-11-06 1 0 KEVIN FUQUA CPA CVA P00433011 8478888600 2023 2024-10-15 13:58:12Z HEATHER Y ANICHINI 200 WEST ADAMS 1175 CHICAGO IL 606065230 12970577 0 X WWW.THEFUNDCHICAGO.ORG X 1999 IL THE FUND'S PROGRAM, POLICY, AND PARTNERSHIP EFFORTS GIVE CHICAGO'S INNOVATIVE EDUCATORS THE TIME AND TOOLS TO FOCUS ON TEACHING AND LEARNING AND IMPROVE SCHOOLS. IN 2023, THE FUND LAUNCHED PROGRAMMING FOR CHICAGO LEADS, A 50 MILLION DOLLAR CAMPAIGN DESIGNED TO SUPPORT STRONG LEADERS IN SCHOOLS CITYWIDE. IN THE 2022-23 SCHOOL YEAR, OUR PROGRAMS AND PARTNERSHIPS SUPPORTED 333 LEADERS ACROSS 253 SCHOOLS. OVER HALF OF OUR PARTICIPANTS WERE LEADERS OF COLOR: 44.4% IDENTIFIED AS BLACK AND 14.1% IDENTIFIED AS LATINO/A/X. WE CONTINUOUSLY ENGAGE LOCAL LEADERS IN OUR WORK. OUR EDUCATOR ADVISORY COMMITTEE AND LOCAL SCHOOL COUNCIL FOCUS GROUP ADVISED US ON ASPECTS OF FOUR REPORTS IN 2023. EACH PUBLISHED REPORT SHARES INFORMATION ON SCHOOL PRACTICES DESIGNED TO AMPLIFY STUDENT LEARNING. 22 22 43 22 0 0 24987900 6524752 0 0 -300138 395618 0 2874 24687762 6923244 711499 904039 0 0 2735269 3038743 61142 0 201630 2387407 2511054 5895317 6453836 18792445 469408 40657031 41819615 1468698 1320100 39188333 40499515 X THE CHICAGO PUBLIC EDUCATION FUND (THE FUND) IS A NONPROFIT ORGANIZATION THAT IMPROVES PUBLIC SCHOOLS IN CHICAGO BY INVESTING IN THE TALENTED EDUCATORS WHO LEAD THEM. 1 1 2836018 424400 PROGRAMMATIC SUPPORTS (2023) THE FUND SUPPORTS PRINCIPALS AND ASPIRING PRINCIPALS THROUGH PROGRAMMING. FUND PROGRAMS ARE OPEN TO ALL EDUCATORS LEADING OR ASPIRING TO LEAD IN CHICAGO'S PUBLIC SCHOOLS. WE SERVE EDUCATORS ACROSS THE CITY IN MANY SCHOOL TYPES, INCLUDING ELEMENTARY, HIGH SCHOOL, CHARTER, AND DISTRICT. WE LEVERAGE REAL-TIME DATA ON SCHOOL NEEDS AND OUTCOMES TO IMPLEMENT THE MOST EFFECTIVE PROGRAMS FOR OUR PARTICIPATING EDUCATORS EACH YEAR. OUR PROFESSIONAL LEARNING COMMUNITIES (PLCS) ACCOUNTED FOR 286 (85%) OF OUR PARTICIPANTS IN 2023. PLCS ALLOWED SCHOOL LEADERS TO PARTICIPATE IN YEARLONG PEER-LEARNING GROUPS LED BY THE CITY'S TOP PRINCIPALS. PARTICIPANTS ENGAGED IN REFLECTIVE JOURNEYS DESIGNED TO HELP THEM UNDERSTAND THEIR LEADERSHIP MORE DEEPLY, LEARN NEW SKILLS, ENCOURAGE INNOVATIVE PRACTICES IN THEIR BUILDINGS, AND ADVANCE POSITIVE SCHOOL CULTURE. IN ADDITION TO THE PLCS, WE OFFERED A DESIGN SUITE IN 2023. THIS SUITE EQUIPPED EDUCATORS WITH THE RESOURCES TO CREATE STUDENT-CENTERED SOLUTIONS TO PRESSING SCHOOL-BASED CHALLENGES. PARTICIPANTS FROM 25 SCHOOLS DESIGNED AND TESTED INITIATIVES TO IMPROVE TEACHING, LEARNING, AND SCHOOL CLIMATE. FINALLY, OUR TEAM MANAGED A MASTERCLASS SERIES AND LEADERSHIP BRIDGE, AN ASPIRING PRINCIPAL PROGRAM, IN 2023. THESE PROGRAMS EXPANDED THE RESPONSIVE RESOURCES AVAILABLE TO LEADERS THROUGHOUT THE SCHOOL YEAR.IN TOTAL, THE FUND'S PROGRAMS SUPPORTED 333 LEADERS IN 253 SCHOOLS SERVING 128,000 STUDENTS ACROSS THE CITY IN THE 2022-23 SCHOOL YEAR. OVER HALF OF OUR PARTICIPANTS WERE LEADERS OF COLOR: 44.4% AND 14.1% IDENTIFIED AS BLACK AND LATINO/A/X. 1381478 470764 SYSTEMS, DATA, AND POLICIES (2023) THE FUND HAS INVESTED IN EDUCATOR TALENT IN CHICAGO FOR ALMOST 25 YEARS. IN THE LAST DECADE, WE NARROWED OUR FOCUS TO SCHOOL LEADERS. WE BELIEVE CHICAGO'S PRINCIPALS SHOULDER TREMENDOUS RESPONSIBILITIES, AND THEY REQUIRE THE AUTONOMY TO ACT ON THE NEEDS OF THEIR COMMUNITIES. AS SUCH, THE FUND IS DEDICATED TO BUILDING A CULTURE OF STRONG, LOCAL LEADERSHIP IN CHICAGO. WE VALUE OUR PARTNERSHIPS WITH OTHER ORGANIZATIONS IN OUR SYSTEM-LEVEL WORK. IN 2023, WE WORKED MOST CLOSELY WITH CHICAGO PUBLIC SCHOOLS (CPS). OUR ANNUAL PRINCIPAL AND ASSISTANT PRINCIPAL ENGAGEMENT SURVEYS HELPED INFORM DISTRICT STRATEGY AND INFLUENCED MODIFICATIONS TO OUR PROGRAMS TO BETTER SERVE LEADERS. WE ALSO SUPPORTED CPS IN SURVEYING LOCAL SCHOOL COUNCIL (LSC) MEMBERS. WE LAUNCHED THIS FIRST-OF-ITS-KIND SURVEY IN OCTOBER 2023 TO LEARN MORE ABOUT LSC MEMBER SATISFACTION AND NEEDS FOR SUPPORT. WE ALSO PUBLISHED FOUR REPORTS IN 2023, INCLUDING "THE ILLINOIS PRINCIPAL: THEIR WORK, THEIR CHALLENGES, THEIR IMPACT." WE WROTE THIS REPORT IN PARTNERSHIP WITH THE ILLINOIS PRINCIPALS ASSOCIATION, A STATEWIDE MEMBERSHIP ORGANIZATION AIMING TO DEVELOP, SUPPORT, AND ADVOCATE FOR INNOVATIVE EDUCATIONAL LEADERS. THE REPORT INCLUDED DATA ON ILLINOIS PRINCIPALS, OFFERING INSIGHT INTO THEIR ROLES AND RESPONSIBILITIES. IT ALSO HIGHLIGHTED THE STORIES OF LEADERS STATEWIDE TO DEMONSTRATE THE URGENT NEED FOR MORE LOCAL-LEVEL DECISION-MAKING IN CHICAGO AND BEYOND. 1328883 8875 EDUCATOR ENGAGEMENT (2023) IN 2023, THE FUND CONNECTED EDUCATORS TO THE BROADER COMMUNITY, TO OUR WORK, AND TO ONE ANOTHER. WE CELEBRATED THEIR INNOVATION AND LEADERSHIP CITYWIDE. IN APRIL, WE CO-HOSTED AN EVENT WITH THE UNIVERSITY OF CHICAGO CONSORTIUM ON SCHOOL RESEARCH. OVER 130 EDUCATION LEADERS AND CHAMPIONS ATTENDED. IT INCLUDED A CONVERSATION ON THE GROWTH OF THE CHICAGO EDUCATION LANDSCAPE OVER THE PAST TWO DECADES AND THE ROLE OF SCHOOL LEADERSHIP AS DESCRIBED IN THE BOOK "HOW A CITY LEARNED TO IMPROVE ITS SCHOOLS." THE EVENT CONCLUDED WITH A FIRESIDE CHAT INVOLVING SOME OF THE BOOK'S AUTHORS, CHICAGO PUBLIC SCHOOLS CEO PEDRO MARTINEZ, AND THE ACADEMY GROUP CEO GREG JONES. IN OCTOBER, THE FUND CELEBRATED EDUCATORS CITYWIDE THROUGH OUR ANNUAL PRINCIPAL APPRECIATION CAMPAIGN. THE CAMPAIGN INCLUDED A SCHOOL VISIT, FREE TICKETS FOR PRINCIPALS TO ATTEND A CHICAGO BULLS GAME, AND ONE EVENT AT THE FIELD MUSEUM THAT FEATURED STORIES FROM TRANSFORMATIONAL SCHOOL LEADERS. WE ALSO EXECUTED A SOCIAL MEDIA CAMPAIGN AND PARTNERED WITH THE CHICAGO TRANSIT AUTHORITY TO FEATURE EXTRAORDINARY SCHOOL LEADERS IN ADS ON BUSES AND TRAINS IN THE CITY. IN LATE 2023, WE WELCOMED A NEW EDUCATOR ADVISORY COMMITTEE, WHOSE MEMBERS CONSULTED ON OUR WORK. COMPOSED OF 36 PRINCIPALS AND ASSISTANT PRINCIPALS, THE COMMITTEE AIMS TO SHAPE THE FUND'S POLICY AGENDA, OFFER RECOMMENDATIONS ON PROGRAMMING, AND FACILITATE CONNECTIONS WITH OTHER LEADERS ACROSS THE CITY. IT ALSO SPECIFICALLY FOCUSED ON CO-CREATING THE CRITERIA, DESIGN, AND IMPLEMENTATION OF AWARDS FOR SCHOOL LEADERS THAT WILL LAUNCH IN 2024. THE ANTICIPATED OUTCOME OF OUR CURRENT EDUCATOR ADVISORY COMMITTEE IS TO LEVERAGE THE INSIGHTS AND EXPERIENCES OF SCHOOL LEADERS TO ENHANCE THE FUND'S INITIATIVES AND STRENGTHEN THE COMMUNITY OF EDUCATIONAL LEADERS IN THE CITY. 5546379 1 1 0 1 0 0 0 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 73 0 1 43 1 0 0 0 0 0 0 0 0 0 0 0 0 X 22 22 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X X HEATHER Y ANICHINI 3125584500 200 WEST ADAMS 1175 CHICAGO IL 606065230 BRENT GLEDHILL CHAIR 4.00 0.00 X X 0 0 0 HELEN ZELL VICE CHAIR 2.00 0.00 X X 0 0 0 BARBARA MALOTT KIZZIAH SECRETARY 2.00 0.00 X X 0 0 0 JILL GARLING TREASURER 4.00 0.00 X X 0 0 0 ELLEN ALBERDING DIRECTOR 1.00 0.00 X 0 0 0 GILLIAN DARLOW DIRECTOR 1.00 0.00 X 0 0 0 JOHN DUGENSKE DIRECTOR 1.00 0.00 X 0 0 0 KIMBERLY EVANS DIRECTOR 1.00 0.00 X 0 0 0 JIM FRANK DIRECTOR 1.00 0.00 X 0 0 0 CHRISTINA HERZOG DIRECTOR 1.00 0.00 X 0 0 0 KELLY HOWE DIRECTOR 1.00 0.00 X 0 0 0 STUART LUCAS DIRECTOR 1.00 0.00 X 0 0 0 KAREN MAY DIRECTOR 1.00 0.00 X 0 0 0 SIDDHARTH MEHTA DIRECTOR 1.00 0.00 X 0 0 0 ANTHONY MILLER DIRECTOR 1.00 0.00 X 0 0 0 AUYANA ORR DIRECTOR 1.00 0.00 X 0 0 0 JESSE RUIZ DIRECTOR 1.00 0.00 X 0 0 0 ANDREA SAENZ DIRECTOR 1.00 0.00 X 0 0 0 PENNY BENDER SEBRING DIRECTOR 1.00 0.00 X 0 0 0 ERIC SMITH DIRECTOR 1.00 0.00 X 0 0 0 DAVID VITALE DIRECTOR 1.00 0.00 X 0 0 0 DANDRE J WEAVER DIRECTOR 1.00 0.00 X 0 0 0 JUDY POMERANZ DIRECTOR THRU 1/20/23 1.00 0.00 X 0 0 0 HEATHER Y ANICHINI PRESIDENT & CEO 55.00 0.00 X 365875 0 50332 NELSON GEREW CHIEF PUBLIC AFFAIRS OFFICER 40.00 0.00 X 210000 0 8923 MARIEL LAUREANO DIRECTOR, EDUCATOR SUPPORTS 40.00 0.00 X 176308 0 32072 JULIE BURNETT DIRECTOR, PARTNERSHIP AND INNOVATION 40.00 0.00 X 161151 0 15976 ANNIE BRINGEWATT DIRECTOR, DATA & STRATEGY 40.00 0.00 X 121709 0 6975 ESTHER LEE DIRECTOR, PEOPLE AND OPERATIONS 40.00 0.00 X 120412 0 6716 BRIDGET LEE DIRECTOR, ENGAGEMENT/DEVELOPMENT 40.00 0.00 X 141488 0 17105 1296943 0 138099 7 0 1 0 COVER CONSULTING LLC 3018 MORLEY ROAD SHAKER HEIGHTS OH 44122 HUMAN RESOURCES SUPPORT & CONSULTING 217950 LEADERSHIP AND DESIGN 206 BROOKE ACRES DRIVE LOS GATOS CA 95032 PROGRAM SUPPORT AND CONSULTING 154629 WISE LEADERSHIP CONSULTING 4740 SOUTH EVANS AVENUE CHICAGO IL 60615 PROGRAM SUPPORT AND CONSULTING 150000 3 6524752 67791 6524752 536476 536476 5906475 6047333 -140858 -140858 -140858 OTHER REVENUE 900099 2874 2874 2874 6923244 0 0 398492 643164 643164 260875 260875 1020637 854971 115953 49713 1664442 1394285 189086 81071 47059 39420 5346 2293 133138 111529 15124 6485 173467 145311 19707 8449 12840 12840 51600 51600 105902 105902 37002 37002 523378 475788 26285 21305 161008 123792 25900 11316 214517 153187 59836 1494 196024 165844 20942 9238 15317 15317 163605 163605 190054 160793 20304 8957 PROGRAM & POLICY INVEST 666368 666368 RESEARCH EXPENSE 109839 109839 PROGRAM SUPPLIES AND TO 62291 62291 1309 1309 6453836 5546379 705827 201630 2479760 713333 1178000 6951539 18064802 17649691 94293 147105 1151346 537561 1077246 613785 17602992 15389679 159938 354483 40657031 41819615 161478 317322 175000 35000 1132220 967778 1468698 1320100 X 20605259 22009746 18583074 18489769 39188333 40499515 40657031 41819615 469408 841774 0 X 0 1 X 1 0 X 6056803 2583791 5360177 24987900 6524752 45513423 6056803 2583791 5360177 24987900 6524752 45513423 25571530 19941893 215991 269835 255668 344943 536476 1622913 3120 2874 5994 47142330 0.42300 0.40640 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 3,120. 2023 AMOUNT: $ 2,874. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 105902 105902 6310932 6416834 470842 117711 0 0 384861 425852 440032 470842 1721587 2582381 46217 69926 105902 222045 96215 106463 110008 117711 430397 645596 3043 430 3473 0 1 X 1763272 330112 2093384 1003623 1000000 -240351 1763272 0 1000000 3623 1003623 0 0 1.00000 0.00000 0.00000 0 0 822833 291420 531413 328513 246141 82372 613785 OPERATING LEASE LIABILITY 967778 967778 X 7771559 841774 43543 885317 6886242 37002 37002 6923244 6460377 43543 43543 6416834 37002 37002 6453836 PART IV, LINE 2B: PERIODICALLY, THE FUND ENTERS INTO AGREEMENTS TO SERVE AS AN AGENT FOR OTHER ORGANIZATIONS AND ACT AS AN INTERMEDIARY BETWEEN SUCH ORGANIZATIONS AND BENEFICIARIES. IN 2022, THE FUND AGREED TO SERVE AS AN AGENT FOR A PROJECT WITH THE BOSTON CONSULTING GROUP (BCG) DIRECTED BY THREE LOCAL FUNDERS. IN 2022 AND 2023, $275,000 WAS RECEIVED. OF THAT, $240,000 WAS PAID OUT TOWARD THE PROJECT IN 2023. AS OF DECEMBER 31, 2023 AND 2022, THE FUND HELD $35,000 AND $175,000, RESPECTIVELY. THE REMAINING $35,000 HELD IS FOR POTENTIAL PROJECT EXPANSION IN 2024. PART V, LINE 4: THE ENDOWMENT FUNDS ARE INTENDED TO SUPPORT THE OPERATIONS AND INITIATIVES OF THE CHICAGO PUBLIC EDUCATION FUND AND ITS PROGRAMMATIC ACTIVITY OVER THE LONG TERM. PART X, LINE 2: THE ACCOUNTING STANDARD RELATED TO UNCERTAINTY IN INCOME TAXES STATES THE FUND MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE FUND AND THE VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE FUND DOES NOT BELIEVE THERE ARE ANY UNRECOGNIZED TAX BENEFITS OR TAX LIABILITIES THAT SHOULD BE RECORDED FOR THE REPORTING PERIODS PRESENTED IN THESE FINANCIAL STATEMENTS. 0 ACCELERATE INSTITUTE 150 NORTH MICHIGAN AVE SUITE 2100 CHICAGO IL 60601 363764476 501(C)(3) 47400 0 SUPPORT FOR LEADERSHIP BRIDGE INCLUDING A SUMMER INSTITUTE AND COACHING FOR PRINCIPAL AND ASSISTANT PRINCIPAL PAIRS, AND A COMMUNITY OF PRACTICE TO DEVELOP SUCCESSION PLANS. CHICAGO PUBLIC SCHOOLS 42 W MADISON STREET CHICAGO IL 60602 366005821 GOVT 97000 0 PROGRAM PARTICIPATION STIPENDS. LEADERSHIP & DESIGN 206 BROOKE ACRES DRIVE LOS GATOS CA 95032 271178342 501(C)(3) 61250 0 PLANNING, DEVELOPMENT, AND FACILITATION OF THE DESIGN SUITE. NORTHEASTERN UNIVERSITY 360 HUNTINGTON AVE BOSTON MA 02115 041679980 501(C)(3) 71150 0 DESIGN AND FACILITATE COMMUNITY OF PRACTICE SESSIONS FOR PLC LEADERS. THE MODERN CLASSROOMS PROJECT 15 14TH STREET SOUTHEAST WASHINGTON DC 20003 825421304 501(C)(3) 15000 0 TRAINING AND COACHING OF PLC LEADERS TO LEVERAGE TECHNOLOGY IN STUDENT-CENTERED CLASSROOMS. UNIVERSITY OF ILLINOIS - CHICAGO 1040 WEST HARRISON STREET CHICAGO IL 60607 376000511 GOVT 205438 0 SUPPORT THE MALOTT EDUCATOR FELLOWSHIP AND LEADERSHIP BRIDGE. UNIVERSITY OF WASHINGTON CAMPUS BOX 358731 SEATTLE WA 98195 916001537 GOVT 55500 0 PROVIDE PROFESSIONAL DEVELOPMENT SERVICES INCLUDING TRAINING AND COACHING TO CPS NETWORK CHIEFS. 7 0 GRANTS TO PRINCIPALS 102 260875 PART I, LINE 2: THE FUND MAKES INVESTMENTS IN GRANTEES ACCORDING TO BENCHMARK SCHEDULES. GRANT DOLLARS ARE DISBURSED ONLY UPON DOCUMENTED EVIDENCE THAT THE PROJECTS ARE MEETING OR WORKING TOWARDS MEETING THE CRITICAL FACTORS FOR THE PROJECTS TO BE SUCCESSFUL. ACCEPTABLE ACHIEVEMENTS ARE JOINTLY AGREED UPON AT THE TIME THE FUND COMMITS TO THE GRANT, AND STAFF MEMBERS WORK WITH THE GRANTEE TO MONITOR AND DOCUMENT PROGRESS AGAINST THESE SHARED GOALS. X X X X 0 0 0 0 0 0 0 1 0 HEATHER Y ANICHINI PRESIDENT & CEO 365875 0 0 0 0 0 15792 0 34540 0 416207 0 0 0 NELSON GEREW CHIEF PUBLIC AFFAIRS OFFICER 200000 0 10000 0 0 0 8733 0 190 0 218923 0 0 0 MARIEL LAUREANO DIRECTOR, EDUCATOR SUPPORTS 176308 0 0 0 0 0 7092 0 24980 0 208380 0 0 0 JULIE BURNETT DIRECTOR, PARTNERSHIP AND INNOVATION 161151 0 0 0 0 0 5288 0 10688 0 177127 0 0 0 BRIDGET LEE DIRECTOR, ENGAGEMENT/DEVELOPMENT 141488 0 0 0 0 0 6042 0 11063 0 158593 0 0 0 PART I, LINE 7 THE FUND OFFERED BONUSES OR STIPENDS TO THREE (3) EMPLOYEES IN 2023. STIPENDS WERE OFFERED TO EMPLOYEES WHO WORKED ON SPECIAL PROJECTS THAT WENT ABOVE AND BEYOND THEIR REGULAR DUTIES. BONUSES WERE OFFERED AT THE DISCRETION OF THE BOARD OF DIRECTORS FOR EXTRAORDINARY PERFORMANCE. THE PROCESS FOR THE DISTRIBUTION OF STIPENDS IS SHARED WITH EMPLOYEES. WISE LEADERSHIP CONSULTING CONSULTANT 150000 PROGRAM SUPPORT FEES FOR THE LAUNCH OF MALOTT FELLOWSHIP 0 PART IV THE FOUNDING PARTNER OF WISE LEADERSHIP CONSULTING, WHICH PROVIDED PROGRAM SUPPORT FOR THE LAUNCH OF THE MALOTT FELLOWSHIP PROGRAM IN 2023, IS RELATED TO THE DIRECTOR OF PARTNERSHIP AND INNOVATION, A KEY EMPLOYEE OF THE FUND. THE FUND PAID $150,000 TO WISE LEADERSHIP CONSULTING FOR PROVIDING PROGRAM SUPPORT. X 1 67041 FMV X SPORTS MEMORABILIA 2 750 0 0 0 0 PART I, COLUMN (B): REPORTING NUMBER OF CONTRIBUTIONS. FORM 990, PART III, LINE 2 IN 2023, THE FUND LAUNCHED TWO NEW PILOT PROGRAMS. ONE, THE MALOTT EDUCATOR FELLOWSHIP, IS A TWO-YEAR LEADERSHIP DEVELOPMENT PROGRAM. THE FELLOWSHIP PROVIDES A LEARNING COMMUNITY AND TARGETED COACHING TO SUPPORT THE UNIQUE NEEDS OF STRONG LEADERS IN SCHOOL COMMUNITIES EXPERIENCING CHALLENGES LIKE HIGH ABSENTEEISM, STUDENT MOBILITY, AND HOUSING INSECURITY. THE OTHER, OUR AFFINITY GROUPS PROGRAM, PROVIDES BLACK AND LATINO/A/X ASPIRING LEADERS WITH A ROBUST PROFESSIONAL NETWORK, ONE-ON-ONE COACHING OPPORTUNITIES, AND TARGETED PROFESSIONAL DEVELOPMENT TO ACCELERATE THEIR PATHS TO SCHOOL LEADER ROLES. THESE PROGRAMS SUPPORT OUR STRATEGIC GOALS OF INCREASING PRINCIPAL SATISFACTION AND RETENTION AND STRENGTHENING AND DIVERSIFYING THE SCHOOL LEADER PIPELINE IN CHICAGO. FORM 990, PART III, LINE 3 A VITAL PART OF THE FUND'S MODEL IS OUR WORK TO ENSURE THAT PUBLIC OR PRIVATE INVESTMENT CAN SUSTAIN SUCCESSFUL PROGRAMS. TWO PROGRAMS WERE TRANSITIONED FROM THE FUND TO CHICAGO PUBLIC SCHOOLS (CPS) IN 2023. THEY WERE: 1) THE CAHN FELLOWS PROGRAM. WE SUPPORTED THE CAHN FELLOWS PROGRAM BEGINNING IN 2016. WE ENABLED THE PROGRAM'S EXPANSION TO CHICAGO AND HELPED DEMONSTRATE ITS SUCCESS. CPS RECOGNIZED ITS POPULARITY WITH PARTICIPANTS AND WAS INTERESTED IN ASSUMING THE COST OF CONTINUING IT. AS SUCH, THE FINAL COHORT OF FUND-SUPPORTED CAHN FELLOWS WAS IN 2022-23. 2) THE CHICAGO PRINCIPAL FELLOWSHIP. STARTING IN 2014, IN PARTNERSHIP WITH CPS AND THE KELLOGG SCHOOL OF MANAGEMENT AT NORTHWESTERN UNIVERSITY, WE SUPPORTED THE CHICAGO PRINCIPAL FELLOWSHIP, AN EXECUTIVE LEADERSHIP SUPPORT FOR CHICAGO'S TOP PRINCIPALS. THE FINAL COHORT OF FELLOWS COMPLETED ITS WORK IN 2022, AND FOR THE 2022-23 SCHOOL YEAR, WE SUPPORTED FELLOWSHIP ALUMS THROUGH A CULMINATING FELLOWSHIP BRIDGE YEAR. WE FINISHED THE BRIDGE YEAR IN 2023, AND CPS ASSUMED RESPONSIBILITY FOR THE PROGRAM IN 2023-24. ANOTHER CRITICAL COMPONENT OF THE FUND'S MODEL IS OUR ABILITY TO REALLOCATE RESOURCES FROM ONE PROGRAM TO ANOTHER IN PARTNERSHIP WITH OUR BOARD. MOST FREQUENTLY, THIS IS DONE WHEN A PILOT EFFORT DESIGNED TO SUPPORT LEADERSHIP WILL BE MORE SUCCESSFUL IF WE INTEGRATE IT INTO A BROADER SET OF PROGRAMMATIC SUPPORT. IN 2022-23, WE PHASED OUT OUR EXECUTIVE PRINCIPAL AND MODERN CLASSROOMS INVESTMENTS TO INVEST MORE IN OUR BROADER PROFESSIONAL LEARNING COMMUNITIES (PLC) PROGRAMS. THE PLC WORK IS DESCRIBED AT PART III, LINE 4A. FORM 990, PART VI, SECTION A, LINE 2 JOHN DUGENSKE AND SIDDHARTH MEHTA HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE CHIEF EXECUTIVE OFFICER REVIEWS THE COMPLETED FORM 990. THEN, IT IS EMAILED IN FINAL FORM TO THE GOVERNANCE, OPERATIONS, FINANCE, AND AUDIT COMMITTEE, AS WELL AS TO THE ENTIRE BOARD OF DIRECTORS, FOR THEIR REVIEW AND COMMENTS. FINALLY, IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS, AND KEY EMPLOYEES COMPLETE A QUESTIONNAIRE TO DISCLOSE ANNUALLY ANY BUSINESS TRANSACTIONS OR RELATIONSHIPS THEY OR A FAMILY MEMBER MAY HAVE HAD WITH THE FUND OR ANY OF ITS OFFICERS, DIRECTORS, OR KEY EMPLOYEES. POTENTIAL CONFLICTS NOTED IN THE RESPONSES ARE PASSED ALONG TO THE CHIEF EXECUTIVE OFFICER (CEO) FOR REVIEW AND, WHEN NECESSARY, REFERRED TO THE EXECUTIVE COMMITTEE FOR CONSIDERATION. IN ADDITION TO THE REQUIRED ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE, THE FUND'S BOARD OF DIRECTORS' POLICY COVERING CONFLICTS OF INTEREST PROVIDES THAT DIRECTORS AND STAFF HAVE THE RESPONSIBILITY TO IMMEDIATELY DISCLOSE POTENTIAL CONFLICTS OF INTEREST AND REFRAIN FROM INFLUENCING OTHER DIRECTORS OR STAFF ON THOSE MATTERS. IF A POTENTIAL OR ACTUAL CONFLICT ARISES, DIRECTORS ALSO HAVE THE RESPONSIBILITY TO RECUSE THEMSELVES AT AN APPROPRIATE TIME. DIRECTORS, STAFF, AND THEIR IMMEDIATE FAMILY MEMBERS CANNOT REALIZE ANY DIRECT OR INDIRECT PERSONAL FINANCIAL BENEFIT FROM A FUND INVESTMENT. FORM 990, PART VI, SECTION B, LINE 15 Q15A: THE EXECUTIVE COMMITTEE OF THE BOARD IS RESPONSIBLE FOR REVIEWING AND APPROVING THE COMPENSATION PACKAGE FOR THE PRESIDENT AND CEO. THE DETERMINATION OF THE APPROPRIATE LEVEL OF COMPENSATION INCLUDED A REVIEW OF COMPENSATION LEVELS FOR THE EQUIVALENT POSITIONS AT COMPARABLE ORGANIZATIONS. THE COMMITTEE USED DATA FROM FORM 990S AND SURVEY DATA PRODUCED BY NATIONAL AND REGIONAL INDUSTRY ASSOCIATIONS TO ASSIST IN THEIR PROCESS AND DISCUSSED FINAL RECOMMENDATIONS IN EXECUTIVE SESSION WITH THE ENTIRE BOARD OF DIRECTORS BEFORE FINALIZING. THE PROCESS IS DOCUMENTED. Q15B: FOR STAFF SALARIES, INCLUDING THOSE OF KEY EMPLOYEES, THE INDEPENDENT HUMAN RESOURCES BUSINESS PARTNER (HRBP), A CONSULTANT, REVIEWED COMPENSATION LEVELS AT COMPARABLE ORGANIZATIONS AND SHARED ANALYSIS WITH THE CEO AND MEMBERS OF THE EXECUTIVE COMMITTEE. ULTIMATELY, THE GOVERNANCE, OPERATIONS, FINANCE, AND AUDIT COMMITTEE REVIEWED THESE SALARY RECOMMENDATIONS IN CONJUNCTION WITH THE ANNUAL BUDGET PLANNING PROCESS. THE PROCESS FOR DETERMINING THE COMPENSATION IS DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS FOR RECENT FISCAL YEARS ARE AVAILABLE TO THE PUBLIC ON THE FUND'S WEBSITE. ALSO, THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN IRC SECTION 6104(D).