2023-07-17T16:25:15-05:00 2022-08-31 362938874 OSTROW REISIN BERK & ABRAMS LTD 455 N CITYFRONT PLAZA DR SUITE 1500 CHICAGO IL 60611 990 2021-09-01 363675466 DANIEL MURPHY SCHOLARSHIP FUND DANI 3124557800 309 W WASHINGTON SUITE 700 CHICAGO IL 60606 CINDY HALLUMS EXECUTIVE DIRECTOR 3124557800 2023-07-14 1 CINDY HALLUMS 999009999 JAMES G QUAID P00641738 3126707444 2023-07-14 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z CINDY HALLUMS 309 W WASHINGTON SUITE 700 CHICAGO IL 60606 6660059 0 X WWW.DMSF.ORG X 1989 IL THE MISSION OF THE DANIEL MURPHY SCHOLARSHIP FUND IS TO GIVE HIGH SCHOOL SCHOLARSHIP ASSISTANCE AND EDUCATIONAL SUPPORT TO CHICAGO STUDENTS FROM ECONOMICALLY DISADVANTAGED BACKGROUNDS. THE FUND SEEKS TO MAKE A LIFE-ALTERING DIFFERENCE IN THE LIVES OF ITS SCHOLARS BY PROVIDING THEM WITH THE BEST OPPORTUNITY TO SUCCEED IN HIGH SCHOOL AND COLLEGE. 15 15 17 200 0 0 5006527 4696733 0 0 397792 282818 -231880 -528841 5172439 4450710 1666899 1778224 0 0 1423048 1353876 0 0 777924 942678 1252276 4032625 4384376 1139814 66334 13887675 11823483 2267960 2143337 11619715 9680146 X SEE PART I LINE 1. 0 0 2706865 1778224 FINANCIAL ASSISTANCE - THE FUND PROVIDES SCHOLARSHIPS AND OTHER FINANCIAL SUPPORT TO ECONOMICALLY DISADVANTAGED CHICAGO AREA STUDENTS ALLOWING THEM TO ATTEND LEADING PRIVATE AND PAROCHIAL HIGH SCHOOLS IN THE CHICAGO AREA AND TOP BOARDING SCHOOLS ACROSS THE COUNTRY. DURING THE 2022/2021 AND 2021/2020 SCHOOL YEARS, THE FUND SERVED 448 AND 471 SCHOLARS, RESPECTIVELY. 201739 SUMMER OPPORTUNITIES, INCLUDING THE CADDIE PROGRAM - THE OBJECTIVE OF THE SUMMER OPPORTUNITIES PROGRAM IS TO PRESENT SCHOLARS WITH SUMMER JOB OPPORTUNITIES, INTERNSHIPS, CULTURAL AND STUDY ABROAD PROGRAMS, SPORTS PROGRAMS AND COMMUNITY SERVICE PROGRAMS. AS PART OF THE SUMMER OPPORTUNITIES PROGRAM, THE FUND PROVIDES SUMMER GOLF CADDIE EMPLOYMENT OPPORTUNITIES FOR SCHOLARS. SCHOLARS CADDIE AT NEARBY COUNTRY CLUBS, EARNING INCOME, GAINING WORK EXPERIENCE AND DEVELOPING LIFE SKILLS. 193510 COLLEGE COUNSELING - THE FUND WORKS WITH SCHOLARS THROUGHOUT THEIR FOUR YEARS IN HIGH SCHOOL AND MOST INTENSIVELY IN THEIR JUNIOR AND SENIOR YEARS, ASSISTING THE SCHOLARS AS THEY SEARCH FOR AN APPROPRIATE COLLEGE AND FOR FUNDING TO HELP PAY FOR THAT COLLEGE. 259239 OTHER:MENTORING - SCHOLARS WHO WISH TO PARTICIPATE ARE MATCHED WITH AN ADULT MENTOR FOR THEIR FOUR YEARS IN HIGH SCHOOL. THE FUND ALSO OPERATES AN AFFINITY PROGRAM, IN WHICH TEN TO FIFTEEN STUDENTS MEET EVERY OTHER WEEK WITH AN ADULT FACILITATOR TO DISCUSS ISSUES COMMON TO MANY OF THE SCHOLARS.TUTORING - THE FUND HELPS FIND AND FUND TUTORS FOR SCHOLARS WHOSE GPAS FALL BELOW 3.0 OR WHO SEEK ADDITIONAL HELP. THE FUND ALSO OPERATES A VIRTUAL TUTORING PLATFORM DURING THE SCHOOL YEAR.BRIDGE TO EXCELLENCE - THE FUND WORKS WITH LEAP! LEARNING SYSTEMS AND EDUCATIONAL ENDEAVORS TO PROVIDE TWO WEEKS OF MANDATORY CLASSES FOR ALL INCOMING FRESHMAN SCHOLARS, FOCUSING ON LANGUAGE SKILLS, TIME MANAGEMENTS, STUDY SKILLS AND CRITICAL THINKING. 259239 3361353 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 16 0 17 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X X CINDY HALLUMS 3124557800 309 W WASHINGTON SUITE 700 CHICAGO IL 60606 X TIM KENNEDY CHIEF ADVANCEMENT OFFICER(SEE SCH O) 40.00 X 201873 0 5850 JOSE RODRIGUEZ EXECUTIVE DIRECTOR (TERM)(SEE SCH O) 40.00 X 187460 0 3853 CINDY HALLUMS EXECUTIVE DIRECTOR(SEE SCH O) 40.00 X 137800 0 4727 MARK FERGUSON CHAIR 5.00 X X 0 0 0 MARY JO DEMAIO VICE CHAIR 5.00 X X 0 0 0 MOLLY CARROLL SECRETARY 5.00 X X 0 0 0 ROCKY LOPEZ TREASURER 5.00 X X 0 0 0 OLIVIA CARBERRY BOARD MEMBER 5.00 X 0 0 0 WHEELER COLEMAN BOARD MEMBER 5.00 X 0 0 0 KEVIN CONWAY BOARD MEMBER 5.00 X 0 0 0 TONY GOODMAN BOARD MEMBER 5.00 X 0 0 0 MICHAEL KING BOARD MEMBER 5.00 X 0 0 0 YAN KRASOV BOARD MEMBER 5.00 X 0 0 0 WENDY MANNING BOARD MEMBER 5.00 X 0 0 0 MARY O'LEARY BOARD MEMBER 5.00 X 0 0 0 JOHN ORMSBY BOARD MEMBER 5.00 X 0 0 0 BRAD SCHOTANUS BOARD MEMBER 5.00 X 0 0 0 WILL TORRES BOARD MEMBER 5.00 X 0 0 0 527133 0 14430 3 1 1 0 0 2217377 302982 2176374 304192 4696733 161811 161811 1487104 1366097 121007 121007 121007 308200 2217377 843252 -535052 -535052 MISCELLANEOUS REVENUE 900099 6211 6211 6211 4450710 0 0 -246023 1778224 1778224 486462 227862 81502 177098 706189 436088 11874 258227 12165 7714 780 3671 51259 28526 3964 18769 97801 54518 7640 35643 61119 5354 50410 5355 64970 64970 240307 187168 53139 116941 116941 124591 104402 5607 14582 56987 24633 1322 31032 234136 192229 5758 36149 141242 138096 2019 1127 118735 96378 7273 15084 15253 12282 408 2563 24159 14043 1572 8544 TUTORING 53836 53836 4384376 3361353 245099 777924 12981 13142 2753119 2120930 388011 742862 57446 28919 47146 137517 73032 56848 64485 10574109 8818676 16242 16242 13887675 11823483 319582 324967 1643600 1737480 208132 96646 80890 2267960 2143337 X 7721934 7155082 3897781 2525064 11619715 9680146 13887675 11823483 66334 -2005903 0 X 0 1 X 1 0 X 3164147 3239247 3366863 5006527 4696733 19473517 3164147 3239247 3366863 5006527 4696733 19473517 1527730 17945787 162131 241723 174417 108629 161811 848711 893 6211 7104 20329332 0.88280 0.88360 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10218172 -1736241 64970 8416961 8593485 1688325 63638 10218172 7928581 1067708 350250 52554 8593485 8273251 61927 350000 56597 7928581 7470694 22000 1201342 365000 55785 8273251 0.72000 0.28000 0 0 70276 41702 28574 25511 9119 16392 41730 22211 19519 64485 DEFERRED RENT 80890 80890 X 2542198 -2005903 -2005903 4548101 64970 -162361 -97391 4450710 4481767 162361 162361 4319406 64970 64970 4384376 PART V, LINE 4: EXECUTIVE COMMITTEE-DESIGNATED ENDOWMENT: INVESTMENT FUNDS IDENTIFIED BY THE EXECUTIVE COMMITTEE TO GROW IN PERPETUITY, WHILE GENERATING ANNUAL SPENDING ALLOWANCES TO SUPPORT THE FUND'S OPERATIONS AND PROGRAMS, HAVE BEEN DESIGNATED AS AN EXECUTIVE COMMITTEE-DESIGNATED ENDOWMENT (NET ASSETS WITHOUT DONOR RESTRICTIONS). INVESTMENT OF ENDOWMENT FUNDS MUST FOLLOW THE FUND'S INVESTMENT POLICY. UNDER THIS POLICY, THE FUND WILL BE ENTITLED TO EXPEND AN AMOUNT THAT IS EQUAL TO NO MORE THAN 5% OF THE AVERAGE FAIR VALUE OF THE EXECUTIVE COMMITTEE-DESIGNATED ENDOWMENT OVER THE MOST RECENT EIGHT FISCAL QUARTERS. IN THE EVENT THAT THE FUND EXPERIENCES A DEFICIT IN A FISCAL YEAR, THE FUND CAN BORROW FUNDS FROM THE EXECUTIVE COMMITTEE-DESIGNATED ENDOWMENT SO LONG AS THE AMOUNT BORROWED NEVER EXCEEDS MORE THAN 5% OF THE AVERAGE FAIR VALUE OF THE EXECUTIVE COMMITTEE DESIGNATED ENDOWMENT OVER THE MOST RECENT EIGHT FISCAL QUARTERS. IN SUCH AN EVENT, THE FUND WILL BE OBLIGATED TO REPAY THE AMOUNT BORROWED WITHIN THREE YEARS OF THE DATE BORROWED. ALL INVESTMENT INCOME, INCLUDING GAINS ON INVESTMENTS, WILL BE REINVESTED IN THE EXECUTIVE COMMITTEE-DESIGNATED ENDOWMENT. DONOR-RESTRICTED ENDOWMENT: ALL INVESTMENT INCOME, INCLUDING GAINS ON INVESTMENTS, WILL BE REINVESTED IN THE DONOR-RESTRICTED ENDOWMENT. ON AN ANNUAL BASIS, THE FUND CAN EXPEND THE ENDOWMENT FUND TO COVER A FIXED NUMBER OF SCHOLARSHIPS. PART X, LINE 2: THE FUND IS GENERALLY EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE(THE CODE) AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. IN ADDITION, THE INTERNAL REVNEUE SERVICE HAS DETERMINED THAT THE FUND IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE CODE. MANAGEMENT HAS DETERMINED THAT THE FUND WAS NOT REQUIRED TO RECORD A LIABILITY RELATED TO UNCETAIN TAX POSISTIONS AS OF AUGUST 31, 2022 AND 2021. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED WITH REVENUE -162,361. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED WITH REVENUE 162,361. GOLF OUTING 2525577 2217377 308200 188995 401848 252409 2525577 2217377 308200 188995 401848 252409 843252 -535052 1 SCHOLARSHIPS - SCHOLARS 448 1778224 PART I, LINE 2: DANIEL MURPHY SCHOLARSHIP FUND PAYS TUITION DIRECTLY TO SCHOOLS ON BEHALF OF THE SCHOLARS. ALTHOUGH THE GRANTS ARE FOR THE SCHOLARS, THEY DO NOT CONTROL HOW THE MONEY IS SPENT. THE FUND MONITORS THE SCHOLARS' GRADES THROUGHOUT THEIR TENURE AS A DANIEL MURPHY SCHOLAR. X X X 1 0 0 0 0 0 0 0 0 TIM KENNEDY CHIEF ADVANCEMENT OFFICER(SEE SCH O) 161899 0 39974 0 0 0 0 0 5850 0 207723 0 0 0 JOSE RODRIGUEZ EXECUTIVE DIRECTOR (TERM)(SEE SCH O) 115360 0 0 0 72100 0 0 0 3853 0 191313 0 0 0 PART I, LINE 4A JOSE RODRIGUEZ $72,100 X 17 304192 FMV 0 1 1 PART I, LINE 32B: DANIEL MURPHY SCHOLARSHIP FUND HAS A STOCK BROKER WHO SELLS ALL STOCK DONATIONS UPON RECEIPT. FORM 990, PART VI, SECTION B, LINE 11B AFTER FORM 990 IS PREPARED BY THE FUND'S CPA FIRM, IT IS REVIEWED BY DANIEL MURPHY SCHOLARSHIP FUND'S EXECUTIVE DIRECTOR, BOARD CHAIRMAN, AND TREASURER BEFORE BEING FINALIZED. A COPY IS PROVIDED TO THE FUND'S GOVERNING BODY BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THROUGH THE EFFORTS OF THE EXECUTIVE DIRECTOR, ALL CONFLICTS OF INTEREST ARE BROUGHT TO THE ATTENTION OF THE OFFICERS AND THE EXECUTIVE COMMITTEE AS SOON AS THEY ARISE. FORM 990, PART VI, SECTION B, LINE 15 DANIEL MURPHY SCHOLARSHIP FUND HAS A COMPENSATION COMMITTEE, CHAIRED BY THE BOARD PRESIDENT, THAT SETS ALL EMPLOYEE COMPENSATION. THE EXECUTIVE DIRECTOR MAKES RECOMMENDATIONS REGARDING SALARIES, OTHER THAN HIS OWN, AND PROVIDES COMPARABLE DATA AS AVAILABLE. THE COMMITTEE'S DECISION IS REFLECTED IN EMAILS AND SPREADSHEETS THAT ARE CIRCULATED AMONGST THE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE FUND MAKES ITS DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AND PUBLISHES ITS FINANCIAL INFORMATION ON ITS WEBSITE. FORM 990, PART VII, SECTION A, ITEM A, ROWS 1,2 & 3: JOSE RODRIGUEZ WAS EXECUTIVE DIRECTOR THROUGH AUGUST 2021. CINDY HALLUMS AND TIM KENNEDY SERVED AS INTERIM CO-EXECUTIVE DIRECTORS FROM SEPTEMBER 2021 TO APRIL 2022. CINDY HALLUMS ASSUMED THE POSITION OF EXECUTIVE DIRECTOR IN APRIL 2022.