2023-09-25T10:41:07-05:00 2022-12-31 381357951 PLANTE & MORAN PLLC 10 S RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2022-01-01 363480353 CHICAGO PUBLIC LIBRARY FOUNDATION CHIC 3122019830 200 W MADISON AVE 3RD FL CHICAGO IL 60606 BRENDA LANGSTRAAT BUI PRESIDENT & CEO 3122019830 2023-09-14 1 BRENDA LANGSTRAAT BUI 999009999 1 DAVID LOWENTHAL P00378651 3122071040 2023-09-06 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z BRENDA LANGSTRAAT BUI 200 W MADISON AVE 3RD FL CHICAGO IL 60606 8241149 0 X WWW.CPLFOUNDATION.ORG X 1986 IL THE CHICAGO PUBLIC LIBRARY FOUNDATION ACCELERATES THE POTENTIAL OF OUR PUBLIC (SEE SCH O)LIBRARY BY INVESTING IN RESOURCES THAT TRANSFORM LIVES AND COMMUNITIES. 69 68 13 68 0 0 3668975 4039722 0 0 2160434 778102 -227990 -416831 5601419 4400993 0 0 0 0 1178047 1183761 0 0 1095520 2189502 2870862 3367549 4054623 2233870 346370 39161773 33747562 190238 440075 38971535 33307487 X THE CHICAGO PUBLIC LIBRARY FOUNDATION WAS ESTABLISHED IN 1986 AS AN INDEPENDENT NONPROFIT DEDICATED TO CONNECTING PRIVATE INVESTMENT WITH INNOVATIVE AND COMMUNITY-RESPONSIVE PROGRAMMING THAT LEVERAGES OUR LIBRARY'S CITY-WIDE FOOTPRINT AND COMMITMENT TO LIFELONG (SEE SCH O) LEARNING. IN TRUE PUBLIC-PRIVATE PARTNERSHIP, THIS INFUSION OF PHILANTHROPIC RESOURCES HAS HELPED TO LAUNCH AND SUSTAIN PROGRAMS ACROSS CHICAGO PUBLIC LIBRARY'S 81 BRANCHES. TOGETHER WITH OUR DONORS AND PARTNERS, WE INVEST IN PROGRAMS THAT GO ABOVE WHAT IS POSSIBLE WITH TAXPAYER DOLLARS IN ORDER TO BRIDGE DIVIDES, RESPOND TO CHANGING COMMUNITY NEEDS, AND INNOVATE WITHIN THE FIELD. INVESTMENTS ARE MADE IN THREE FUNDING PRIORITY AREAS: CLOSE THE ACADEMIC OPPORTUNITY GAP; ACTIVATE CREATIVITY & CONNECTION FOR ALL; AND BRIDGE THE DIGITAL DIVIDE. 0 0 506844 TOO MANY CHICAGO CHILDREN ARE BORN INTO CIRCUMSTANCES THAT LIMIT HOW FAR THEY WILL GO IN LIFE. WHETHER THAT'S THE NEIGHBORHOOD THEY GROW IN, THE SCHOOLS THEY HAVE ACCESS TO, THE RESOURCES THEIR PARENTS HAVE, EVEN THE QUALITY OF THE AIR, OUR CITY HAS LONG BEEN DIVIDED TO THE DETRIMENT OF NOT JUST INDIVIDUALS, BUT OF OUR COLLECTIVE PROSPERITY AS CHICAGOANS. SUPPORT FROM DONORS ENSURES STUDENTS AND THEIR FAMILIES CAN ACCESS FREE HOMEWORK HELP, TOOLS FOR SUPPORTING LANGUAGE AND LITERACY DEVELOPMENT, AND YEAR-ROUND STEM CONTENT THAT HELP ENSURE ALL OUR CITY'S CHILDREN HAVE THE SUPPORT THEY NEED TO SUCCEED EARLY IN LIFE AND TO KEEP ON SUCCEEDING. 1017825 CHICAGO'S WORLD-RENOWNED ARTS AND CULTURE SECTOR FUELS TREMENDOUS CREATIVE, ECONOMIC, AND INNOVATIVE GROWTH. BUT ACCESS TO BIG IDEAS AND TOP TALENT IS OFTEN FAR OUT OF REACH FOR LOWER-INCOME MEMBERS OF OUR COMMUNITY. AS A RESULT, MANY CHICAGOANS ARE SHUT OUT FROM THE MARKETPLACE OF CREATIVITY AND THE HOLISTIC BENEFITS OF THE ARTS. OUR CITY, IN TURN, MISSES OUT ON OPPORTUNITIES TO BE ELEVATED AND ENRICHED BY THE INCLUSION OF DIVERSE NEW VOICES AND VIEWPOINTS. DONORS ACTIVATE EVERYTHING FROM MAKER SPACES TO SPECIAL COLLECTIONS PROJECTS TO DISCUSSIONS WITH THE MOST THOUGHT-PROVOKING AUTHORS OF OUR TIME. THESEOFFERINGS INVITE ALL CHICAGOANS TO EXPLORE NEW WAYS OF EXPRESSING THEMSELVES AND IMAGINING NEW POSSIBILITIES NOT ONLY FOR THEIR OWN LIVES, BUT ALSO FOR OUR CITY AND THE WORLD. 761879 ACCORDING TO THE PEW RESEARCH CENTER, MORE THAN 40% OF LOWER-INCOME HOUSEHOLDS DON'T HAVE HOME BROADBAND SERVICES OR A TRADITIONAL COMPUTER. MANY OF THESE ADULTS AND OLDER ADULTS ALSO LACK THE SKILLS THEY NEED TO NAVIGATE OUR INCREASINGLY DIGITAL WORLD EFFECTIVELY AND SAFELY. WITHOUT THIS CRUCIAL KNOW-HOW, THOUSANDS OF CHICAGOANS ARE BLOCKED FROM ONLINE OPPORTUNITIES TO APPLY FOR JOBS, FIND EDUCATION AND HEALTH RESOURCES, PARTICIPATE IN CIVIC LIFE, AND CONNECT WITH LOVED ONES. OUR DIGITAL LITERACY AND LEARNING PROGRAMS REMOVE BARRIERS THROUGH CURATED RESOURCES, SKILLS-BUILDING SUPPORT, AND USER-FRIENDLY CHICAGO DIGITAL LEARNING MODULES ACCESSIBLE FROM ANY COMPUTER. TOGETHER, WE TRANSFORM LIVES THROUGH TECHNOLOGY. 2286548 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 76 0 1 13 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 69 68 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X X X BETH DAVIS 3122019830 200 W MADISON ST 3RD FL CHICAGO IL 60602 BRENDA LANGSTRAAT BUI PRESIDENT & CEO 40.00 0.00 X X 216300 0 33634 ROBERT WISLOW CHAIRMAN 5.00 0.00 X X 0 0 0 DAVID CASPER VICE CHAIR 2.00 0.00 X X 0 0 0 ARCHANA KUMAR TREASURER 2.00 0.00 X X 0 0 0 BRUCE SAGAN SECRETARY 2.00 0.00 X X 0 0 0 CINDY PRITZKER CHAIRMAN EMERITUS 1.00 0.00 X X 0 0 0 HEATHER ALGER DIRECTOR 1.00 0.00 X 0 0 0 MARGARET BACZKOWSKI DIRECTOR 1.00 0.00 X 0 0 0 WENDY BERGER DIRECTOR 1.00 0.00 X 0 0 0 JODI BLOCK DIRECTOR 1.00 0.00 X 0 0 0 KATHLEEN BOEGE DIRECTOR 1.00 0.00 X 0 0 0 MARCY CARLIN DIRECTOR 1.00 0.00 X 0 0 0 ESTHER CHOY DIRECTOR 1.00 0.00 X 0 0 0 MONIQUE DEMORY DIRECTOR 1.00 0.00 X 0 0 0 ELIZABETH DONNELLY DIRECTOR 1.00 0.00 X 0 0 0 DEIRDRE DRAKE DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL FASSNACHT DIRECTOR 1.00 0.00 X 0 0 0 LINDA FILLER DIRECTOR 1.00 0.00 X 0 0 0 JENNIFER FRIEDES DIRECTOR 1.00 0.00 X 0 0 0 MARK GARTLAND DIRECTOR 1.00 0.00 X 0 0 0 GRAHAM C GRADY DIRECTOR 1.00 0.00 X 0 0 0 JACQUELINE GRIESDORN DIRECTOR 1.00 0.00 X 0 0 0 SUREN GUPTA DIRECTOR 1.00 0.00 X 0 0 0 FRANCIA HARRINGTON DIRECTOR 1.00 0.00 X 0 0 0 ADAM HECKTMAN DIRECTOR 1.00 0.00 X 0 0 0 STEVE HENDRY DIRECTOR 1.00 0.00 X 0 0 0 DAVID HEROY DIRECTOR 1.00 0.00 X 0 0 0 ANDREW LADD DIRECTOR 1.00 0.00 X 0 0 0 DONNA LAPIETRA DIRECTOR 1.00 0.00 X 0 0 0 ROGER LIEW DIRECTOR 1.00 0.00 X 0 0 0 BRYAN LOGAN DIRECTOR 1.00 0.00 X 0 0 0 DANE MATTHEWS DIRECTOR 1.00 0.00 X 0 0 0 CHERYL MAYBERRY MCKISSACK DIRECTOR 1.00 0.00 X 0 0 0 TRISHA MOWBRAY DIRECTOR 1.00 0.00 X 0 0 0 JOSEPH NIGRO DIRECTOR 1.00 0.00 X 0 0 0 ANDRES ORDONEZ DIRECTOR 1.00 0.00 X 0 0 0 SHEILA OWENS DIRECTOR 1.00 0.00 X 0 0 0 LINDA JOHNSON RICE DIRECTOR 1.00 0.00 X 0 0 0 TRISHA ROONEY DIRECTOR 1.00 0.00 X 0 0 0 MARIANNA RUIZ DIRECTOR 1.00 0.00 X 0 0 0 PRIYA SADARANGANI DIRECTOR 1.00 0.00 X 0 0 0 ANDREA SAENZ DIRECTOR 1.00 0.00 X 0 0 0 RODD SCHREIBER DIRECTOR 1.00 0.00 X 0 0 0 MARK SPROUT DIRECTOR 1.00 0.00 X 0 0 0 LAURENCE SZUMSKI DIRECTOR 1.00 0.00 X 0 0 0 CHERRYL THOMAS DIRECTOR 1.00 0.00 X 0 0 0 WADE THOMSON DIRECTOR 1.00 0.00 X 0 0 0 ELIZABETH TULACH DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL WILSON DIRECTOR 1.00 0.00 X 0 0 0 SUZANNE YOON DIRECTOR 1.00 0.00 X 0 0 0 MICHELLE L COLLINS LIFE DIRECTOR 1.00 0.00 X 0 0 0 ROCCO DEGRASSE LIFE DIRECTOR 1.00 0.00 X 0 0 0 PAUL H DYKSTRA LIFE DIRECTOR 1.00 0.00 X 0 0 0 SONDRA EPSTEIN LIFE DIRECTOR 1.00 0.00 X 0 0 0 JAMES F FELDSTEIN LIFE DIRECTOR 1.00 0.00 X 0 0 0 MARSHALL FIELD LIFE DIRECTOR 1.00 0.00 X 0 0 0 LESLIE S HINDMAN LIFE DIRECTOR 1.00 0.00 X 0 0 0 JAMES LOWRY LIFE DIRECTOR 1.00 0.00 X 0 0 0 JOSE MARTINEZ LIFE DIRECTOR 1.00 0.00 X 0 0 0 CARLETTE MCMULLAN LIFE DIRECTOR 1.00 0.00 X 0 0 0 JOHN RAU LIFE DIRECTOR 1.00 0.00 X 0 0 0 FRANK A ROSSI LIFE DIRECTOR 1.00 0.00 X 0 0 0 MARY LEE SCHNEIDER LIFE DIRECTOR 1.00 0.00 X 0 0 0 CHARLIE A SCHROCK LIFE DIRECTOR 1.00 0.00 X 0 0 0 MAUREEN DWYER SMITH LIFE DIRECTOR 1.00 0.00 X 0 0 0 LINDA J STEPHANS LIFE DIRECTOR 1.00 0.00 X 0 0 0 ELLA D STRUBEL LIFE DIRECTOR 1.00 0.00 X 0 0 0 AUDREY BABLES TUGGLE LIFE DIRECTOR 1.00 0.00 X 0 0 0 DIA S WEIL LIFE DIRECTOR 1.00 0.00 X 0 0 0 ELIZABETH DAVIS CHIEF OPERATING OFFICER 40.00 0.00 X 117833 0 23355 KATHERINE NARDIN CHIEF DEVELOPMENT OFFICER 40.00 0.00 X 108150 0 22204 442283 0 79193 3 0 1 0 0 1879040 2160682 56638 4039722 684213 684213 3462339 3368450 93889 93889 93889 51150 1879040 471706 -420556 -420556 MISCELLANEOUS INCOME 900099 3725 3725 3725 4400993 0 0 361271 521476 265420 256056 482219 84672 397547 46508 8142 38366 66202 15636 50566 67356 24227 43129 1006 1006 59168 59168 7677 7677 314109 203150 108604 2355 159361 55527 103834 147703 120920 6883 19900 116732 54777 21537 40418 102704 37179 65525 62031 32325 4987 24719 7980 1291 1842 4847 11076 7891 3185 PROGRAM MATERIALS 707102 707102 GRANT FUNDED POSITIONS 576978 576978 HONORARIA 335574 335574 BOOKS, SUBSCRIPTIONS AN 171622 171270 352 90039 27634 17684 44721 4054623 2286548 672555 1095520 X 5150449 4238711 93024 155358 444070 980395 130283 144960 37890 57399 50148 50148 0 0 33305372 27963817 685 0 0 206922 39161773 33747562 190238 230140 0 209935 190238 440075 X 22559722 19371641 16411813 13935846 38971535 33307487 39161773 33747562 346370 -6010418 0 X 0 1 X 1 0 X 4885764 3972827 3391840 3668975 4039722 19959128 4885764 3972827 3391840 3668975 4039722 19959128 1724076 18235052 500559 548309 387008 605314 684213 2725403 160214 153770 272251 72481 54875 713591 23398122 0.77930 0.78430 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 1 1 X X X 0 15229960 -2389434 594488 12246038 14033670 1757153 560863 15229960 12640175 1916917 523422 14033670 10897222 2232654 489701 12640175 12280464 -886186 497056 10897222 0.29431 0.70569 0.00000 0 0 50148 50148 0 0 LEASE - OPERATING 209935 209935 -1448979 -6010418 168123 -5842295 4393316 7677 7677 4400993 4215069 168123 168123 4046946 7677 7677 4054623 PART III, LINE 4: THE FOUNDATION HAS ADOPTED A POLICY OF CAPITALIZING COLLECTIONS AT A NOMINAL VALUE IN ITS FINANCIAL STATEMENTS. ALTHOUGH THE FINANCIAL STATEMENTS DO NOT DISCLOSE THE CUMULATIVE VALUE OF COLLECTIONS, CERTAIN ARTWORK RECEIVED IN 1991 AS AN UNRESTRICTED DONATION HAS BEEN CATALOGED AND PRESERVED. SINCE 2003 THE ARTWORK HAS BEEN DISPLAYED, ON A PERMANENT LOAN, IN THE JOAN W. AND IRVING B. HARRIS THEATER FOR MUSIC AND DANCE. THE THEATER CARRIES A $2 MILLION INSURANCE POLICY ON THIS ARTWORK. PART V, LINE 4: THE FOUNDATION HAS AN ENDOWMENT DISTRIBUTION POLICY THAT DETERMINES A MAXIMUM SPENDING RATE OF 4.5 PERCENT APPLIED TO A ROLLING FOUR-YEAR AVERAGE OF THE FAIR VALUE OF ENDOWMENT INVESTMENTS. FUNDS ARE USE TO SUPPORT PROGRAM, FUNDRAISING AND MANAGEMENT AND GENERAL EXPENSES. SCHEDULE D, PART V: DURING THE 2022 YEAR END AUDIT, IT WAS DETERMINED THAT INVESTMENT ACTIVITY WAS OVER ALLOCATED TO ENDOWMENTS IN COMPARISON TO THE TOTAL INVESTMENT PORTFOLIO. THE PRESENTATION ON SCHEDULE D, PART V, HAS BEEN UPDATED IN ACCORDANCE WITH THIS CHANGE. LFA DINNER 1930190 1879040 51150 130736 340970 1930190 1879040 51150 130736 340970 471706 -420556 X 1 1 X 0 0 0 0 0 0 0 1 0 BRENDA LANGSTRAAT BUI PRESIDENT & CEO 206000 0 10300 0 0 0 20600 0 13034 0 249934 0 0 0 PART I, LINE 1A THE BOARD APPROVED PAYMENT OF SOHO CLUB MEMBERSHIP FOR THE FOUNDATION'S PRESIDENT & CEO, BRENDA LANGSTRAAT. SINCE THE MAJORITY OF CLUB USE IS FOR BUSINESS PURPOSES, MONTHLY MEMBERSHIP AND RELATED ASSESSMENTS WILL BE PAID IN FULL BY THE FOUNDATION AND ARE NOT TREATED AS TAXABLE COMPENSATION. BRENDA IS RESPONSIBLE FOR PAYING ALL NON-BUSINESS RELATED FOOD AND OTHER CHARGES. PART I, LINE 7 THE CPLF BOARD OF DIRECTORS, AT THE RECOMMENDATION OF THE FINANCE COMMITTEE, APPROVES THE ANNUAL BUDGET, INCLUDING SALARY AND BENEFITS. THE SALARY OF THE PRESIDENT & CEO IS DETERMINED BY THE BOARD EXECUTIVE COMMITTEE. BONUS CONSIDERATION IS EXECUTIVE COMMITTEE DRIVEN, WITH INPUT FROM THE CEO AND COO. BONUSES MAY BE CONSIDERED DUE TO EXTRAORDINARY STAFF TEAM PERFORMANCE AND/OR CIRCUMSTANCES WHEN THE TEAM HAS ADVANCED THE ORGANIZATION DURING A CHALLENGING TIME. X 56638 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 7A CANDIDATES FOR MEMBERS AND TO FILL VACANCIES ON THE BOARD OF DIRECTORS SHALL BE NOMINATED BY THE GOVERNANCE COMMITTEE. ADDITIONAL NOMINATIONS MAY BE MADE BY ANY MEMBER OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD RETAINS THE SERVICES OF AN INDEPENDENT CPA FIRM TO PREPARE THE FOUNDATION'S FORM 990. MANAGEMENT REVIEWS THE COMPLETED FORM 990 AND A FULL COPY IS DISTRIBUTED TO ALL VOTING MEMBERS OF THE GOVERNING BODY PRIOR TO FILING. THE GOVERNING BODY IS PROVIDED A REASONABLE AMOUNT OF TIME TO REVIEW THE RETURN AND ASK ANY QUESTIONS DIRECTLY TO FOUNDATION MANAGEMENT OR THE CONTACT AT THE INDEPENDENT CPA FIRM PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION REQUIRES DIRECTORS AND KEY EMPLOYEES TO FILL OUT AN ANNUAL QUESTIONNAIRE TO ENSURE THERE ARE NO CONFLICTS OF INTEREST. ADDITIONALLY, AT THE COMMENCEMENT OF EACH BOARD MEETING, THE PRESIDENT (OR THE APPOINTED REPRESENTATIVE), PROVIDES THE OPPORTUNITY FOR DIRECTORS TO DISCLOSE ANY CONFLICT OR PERCEIVED CONFLICT. SHOULD AN INSTANCE EXIST WHERE THE DIRECTOR IS NOT INDEPENDENT, THEY WILL NOT VOTE ON THE RELATED MATTER. FORM 990, PART VI, SECTION B, LINE 15 EXECUTIVE AND OFFICER COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE. THE COMMITTEE USES COMPARABILITY DATA AND MARKET COMPARISONS, INCLUDING COMPENSATION SURVEYS AND FORM 990 INFORMATION FROM OTHER ORGANIZATIONS, AS PART OF THE COMPENSATION DETERMINATION PROCESS. THE COMPENSATION DETERMINED IS SUBSEQUENTLY APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS WILL BE PROVIDED UPON REQUEST. PRIOR PERIOD ADJUSTMENT: DURING THE 2022 YEAR END AUDIT, IT WAS DETERMINED THAT INVESTMENT ACTIVITY WAS OVER ALLOCATED TO ENDOWMENTS IN COMPARISON TO THE TOTAL INVESTMENT PORTFOLIO. THE PRESENTATION ON SCHEDULE D, PART V, HAS BEEN UPDATED IN ACCORDANCE WITH THIS CHANGE. ADDITIONALLY, THE AUDITED FINANCIAL STATEMENTS FOR 2021 HAVE BEEN RESTATED TO PROPERLY PRESENT ACCUMULATED INVESTMENT EARNINGS BETWEEN RESTRICTED AND UNRESTRICTED. THE PRESENTATION ON FORM 990, PART X, LINES 27 AND 28 HAVE BEEN UPDATED IN ACCORDANCE WITH THIS CHANGE.