2023-11-01T17:20:25-05:00 2023-06-30 420714325 RSM US LLP 30 South Wacker Dr Suite 3300 Chicago IL 606063392 990 2022-07-01 362170141 Junior Achievement of Chicago JUNI 3127151300 651 W Washington Blvd 404 Chicago IL 60661 Thomas Staab President and CEO 3127151300 2023-10-31 1 Thomas Staab XXX-XX-XXXX 1 Ariel Garcia P02244437 3126343400 2023-10-31 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z Thomas Staab 651 W Washington Blvd 404 Chicago IL 60661 7764068 0 X www.jachicago.org X 1940 IL To inspire and prepare young people to succeed in a global economy. 102 101 57 3132 0 0 4691160 4641447 0 0 903437 485627 -57896 -17369 5536701 5109705 11000 11000 0 0 2735547 3677789 0 0 661081 1520773 1622966 4267320 5311755 1269381 -202050 24417639 27139905 1168690 2099635 23248949 25040270 To inspire and prepare young people to succeed in a global economy. 0 0 3705357 11000 0 Junior Achievement educates students, from kindergarten through 12th grade, about workforce readiness, entrepreneurship and financial literacy through experiential, hands-on programs. Junior Achievement programs help prepare young people for the real world by showing them how to generate wealth and effectively manage it, how to create jobs which make their communities more robust, and how to apply entrepreneurial thinking to the workplace. Students put these lessons into action and learn the value of contributing to their communities. In the 2022-2023 school year, Junior Achievement of Chicago served 306,822 students in 14,780 classrooms throughout the Chicagoland area. 3705357 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 0 0 0 0 0 0 0 0 0 1 0 0 57 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 102 101 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 IL IN X Terrance Guthrie 3127151300 651 W Washington Blvd Suite 404 Chicago IL 606612123 Thomas Staab President & CEO 37.50 X X 412722 0 16810 Katherine Scherer Chair 1.00 X X 0 0 0 Michael Froy Secretary 1.00 X X 0 0 0 Paul Green Treasurer 1.00 X X 0 0 0 Jeffrey Albee Director 0.50 X 0 0 0 Michael Albers Director (Until 04/23) 0.50 X 0 0 0 Bruce Anderson Director 0.50 X 0 0 0 Mary Ann Travers Director 0.50 X 0 0 0 Brian Barnes Director 0.50 X 0 0 0 Anna Bathrick Director 0.50 X 0 0 0 Melissa Bean Director 1.00 X 0 0 0 Sean Bentley Director 0.50 X 0 0 0 Thomas Bindley Director (Until 09/22) 0.50 X 0 0 0 Catherine Bourke Director 0.50 X 0 0 0 Hillary Bochniak Director 0.50 X 0 0 0 Randy Burt Director 0.50 X 0 0 0 Thomas Cahill Director 0.50 X 0 0 0 Deia Campanelli Director 0.50 X 0 0 0 Alexander Campbell Director 0.50 X 0 0 0 Neal Campbell Director 0.50 X 0 0 0 Robert Chodos Director 1.00 X 0 0 0 Jessica Cole Director 1.00 X 0 0 0 John Compernolle Director 0.50 X 0 0 0 Elle Cordes Radke Director 0.50 X 0 0 0 Tyson Cornell Director 1.00 X 0 0 0 Bryan Cressey Director (Until 09/22) 1.00 X 0 0 0 Randal Dawson Director 0.50 X 0 0 0 Ghram Debes Director 0.50 X 0 0 0 Patrice DeCorrevont Director 1.00 X 0 0 0 David Dees Director 0.50 X 0 0 0 Donna Dorsey Director 0.50 X 0 0 0 Bob Dutzi Director 0.50 X 0 0 0 Charles Edelstein Director 0.50 X 0 0 0 Paula Ferguson Director 0.50 X 0 0 0 Gina Fezler Director 0.50 X 0 0 0 James Fields Director 0.50 X 0 0 0 Stanley Fields Director 0.50 X 0 0 0 Joseph Fitzpatrick Director 0.50 X 0 0 0 Sarah Flanagan Director 0.50 X 0 0 0 Kristen Freund Director 1.00 X 0 0 0 Stephen Grabek Director 1.00 X 0 0 0 Stedman Graham Director 0.50 X 0 0 0 Dan Hardt Director 0.50 X 0 0 0 Grant Harvey Director 0.50 X 0 0 0 Jonathan Haugeberg Director 0.50 X 0 0 0 Joan Heggen Director 0.50 X 0 0 0 Steve Henn Director 0.50 X 0 0 0 Roberto Herencia Director 1.00 X 0 0 0 Gary Holdren Director 0.50 X 0 0 0 Jose Isasi II Director 0.50 X 0 0 0 Janice Jackson Director (Until 09/22) 0.50 X 0 0 0 George Johnson Director 0.50 X 0 0 0 Jocelyn Jopa Director 0.50 X 0 0 0 Kip Kelley Director 0.50 X 0 0 0 Anthony Kesman Director 0.50 X 0 0 0 Jamie Kieffer Director 0.50 X 0 0 0 Lester Knight Director (Until 09/22) 0.50 X 0 0 0 Mablene Krueger Director (Until 07/22) 1.00 X 0 0 0 Paul Larson Director 0.50 X 0 0 0 Katie Lawler Director 1.00 X 0 0 0 Christine Leahy Director 1.00 X 0 0 0 Matthew Leonard Director 0.50 X 0 0 0 Katherine Linzer Director 0.50 X 0 0 0 Curtis Maas Director 0.50 X 0 0 0 Patrick Macellaro Director 0.50 X 0 0 0 David Marberger Director 1.00 X 0 0 0 Gary Maus Director 0.50 X 0 0 0 Willie Mayberry Director 0.50 X 0 0 0 Anthony McCain Director 0.50 X 0 0 0 Carla Michelotti Director 0.50 X 0 0 0 Michael Mikhail Director 0.50 X 0 0 0 Thomas Monahan Director 0.50 X 0 0 0 Heather Mooney Director 0.50 X 0 0 0 Brian Morgan Director 0.50 X 0 0 0 Paul Morgan Director 0.50 X 0 0 0 Tracie Morris Director (Until 08/22) 1.00 X 0 0 0 Wade Mynatt Director 0.50 X 0 0 0 Stephen Nesbitt Director 0.50 X 0 0 0 Larry Nieman Director 0.50 X 0 0 0 Robert O'Keef Director 0.50 X 0 0 0 Edmond Opler Director 0.50 X 0 0 0 Donald Ortegel Director 0.50 X 0 0 0 Charmaine Owens Director 0.50 X 0 0 0 Alberto Paracchini Director 0.50 X 0 0 0 Mordie Pearson Director 0.50 X 0 0 0 Jose Pena Director 1.00 X 0 0 0 David Pilotto Director (Until 09/22) 0.50 X 0 0 0 Frank Ptak Director 0.50 X 0 0 0 Scott Ramsbottom Director 0.50 X 0 0 0 Mark Roche Director 0.50 X 0 0 0 John Rodi Director 1.00 X 0 0 0 Patrick Roxworthy Director 0.50 X 0 0 0 James Rozsypal Director 0.50 X 0 0 0 James Samartzis Director (Until 09/22) 0.50 X 0 0 0 E Scott Santi Director (Until 09/22) 1.00 X 0 0 0 Greg Saul Director (Until 09/22) 0.50 X 0 0 0 Rod Schrader Director 0.50 X 0 0 0 Rex Sessions Director (Until 09/22) 0.50 X 0 0 0 Erik Severinghaus Director (Until 09/22) 0.50 X 0 0 0 Elbert Singleton Director 0.50 X 0 0 0 Mark Skroch Director 0.50 X 0 0 0 Laura Slagter Director 0.50 X 0 0 0 Denis Springer Director 0.50 X 0 0 0 Lisa Stenglein Director 0.50 X 0 0 0 Bob Stewart Director 0.50 X 0 0 0 Lynette Stokes Director 0.50 X 0 0 0 Lisa Stuver Director 0.50 X 0 0 0 Chris Sweetland Director 0.50 X 0 0 0 Michael Tower Director 1.00 X 0 0 0 Daniel Van Aken Director 0.50 X 0 0 0 Thomas Weber Director 0.50 X 0 0 0 Bryn Wiley Director 0.50 X 0 0 0 Spencer Williams Director 0.50 X 0 0 0 Nathan Winters Director 0.50 X 0 0 0 Desmond Wong Director 0.50 X 0 0 0 Maria Ramos SVP of Education & Operations 37.50 X 208840 0 21183 Derek Ernst VP of Development 37.50 X 174818 0 9754 Terrance Guthrie VP of Finance and Administration 37.50 X 171117 0 17972 Ravi Parakkat VP of Digital Transformation 37.50 X 162627 0 26455 Amy Youngberg VP of Programs 37.50 X 113777 0 14910 1243901 0 107084 6 0 1 0 0 1567242 3074205 4641447 448709 448709 2364808 2327890 36918 36918 36918 264717 1567242 326473 -61756 -61756 44387 44387 44387 5109705 0 0 468258 11000 11000 621563 342603 144701 134259 2491753 1774851 378695 338207 110286 70737 22669 16880 245205 195974 31918 17313 208982 144053 33813 31116 44504 44504 96824 96824 146910 33476 82958 30476 5659 2669 1603 1387 59293 48874 7387 3032 58626 39460 13905 5261 271028 203271 40654 27103 75599 49652 16604 9343 42753 28454 7404 6895 345296 345296 33742 25307 5061 3374 99240 74430 14886 9924 Student Materials 311859 311859 31633 3391 1731 26511 5311755 3705357 945317 661081 77710 157300 3684822 2601508 129000 106750 228895 227184 56891 55728 844552 671470 84250 173082 19847663 22595214 308408 1223139 24417639 27139905 440886 461325 22221 42678 397175 320500 308408 1275132 1168690 2099635 X 23069938 24848353 179011 191917 23248949 25040270 24417639 27139905 -202050 1993371 0 X 0 1 X 1 0 X 6233500 5073897 3916917 4691160 4641447 24556921 6233500 5073897 3916917 4691160 4641447 24556921 1480213 23076708 480977 358575 251652 383327 448709 1923240 5877 97208 0 0 0 103085 2480 1679 535 183 44387 49264 26632510 0.86650 0.87420 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19217278 0 2298046 11000 499000 21005324 21426042 450000 -2647764 11000 19217278 15395683 446650 5592209 8500 21426042 16323456 653 27574 6000 950000 15395683 16610157 41058 828241 6000 1150000 16323456 0.99000 0.01000 0.00000 0 0 820059 646977 173082 24493 24493 0 173082 Sec. 457(b) Plan Deferred Compensation 227526 Short-term Lease Liability 268902 Long-term Lease Liability 778704 1275132 X 7834224 1993370 501500 2494870 5339354 96824 -326473 -229649 5109705 6042904 827973 827973 5214931 96824 96824 5311755 Part V, Line 4: In time of need the funds will allow the organization to continue its normal operations. Part X, Line 2: According to the Internal Revenue Service, Junior Achievement of Chicago is considered a subordinate organization of Junior Achievement USA and is recognized as a 501(c)(3) organization and is entitled to all rights of a 501(c)(3) organization. Junior Achievement of Chicago considers whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements and may recognize the tax benefit from an uncertain tax position only if it is more likely than not that 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 Junior Achievement of Chicago and various positions related to the potential sources of unrelated business taxable income. There were no unrecognized tax benefits identified or recorded as liabilities for the reporting periods presented in the financial statements. Junior Achievement of Chicago annually files Form 990 in the U.S. federal jurisdiction and in the States of Illinois and Indiana. Part XI, Line 2d - Other Adjustments: Appropriation of Endowments 501,500. Part XI, Line 4b - Other Adjustments: Fundraising Event Expenses -326,473. Part XII, Line 2d - Other Adjustments: Fundraising Event Expenses 326,473. Appropriation of Endowments 501,500. CBHF 904009 835541 68468 3000 94493 Golf Outing 507883 359203 148680 1559 161826 3116 6 420067 372498 47569 4588 45143 12748 1831959 1567242 264717 6147 209969 110357 326473 -61756 1 Scholarships 7 11000 Part I, Line 2: All scholarship recipients must provide Junior Achievement of Chicago with their proof of identification, student ID, and current semester's class schedule. Once all information is provided, JA of Chicago sends a formal letter enclosed with the check verifying the terms of how it is to be applied and to whom. The office of financial aid of said university receives the check and is to apply a credit towards the student's tuition. X X X X 0 0 0 0 0 0 0 1 0 Thomas Staab President & CEO 290469 0 122253 0 0 0 15250 0 1560 0 429532 0 0 0 Maria Ramos SVP of Education & Operations 170817 0 38023 0 0 0 10509 0 10674 0 230023 0 0 0 Terrance Guthrie VP of Finance and Administration 143587 0 27530 0 0 0 8668 0 9304 0 189089 0 0 0 Ravi Parakkat VP of Digital Transformation 137744 0 24883 0 0 0 1283 0 25172 0 189082 0 0 0 Derek Ernst VP of Development 148822 0 25996 0 0 0 8708 0 1046 0 184572 0 0 0 Amy Youngberg VP of Programs 97113 0 16664 0 0 0 5779 0 9131 0 128687 0 0 0 Part I, Line 7 All employees are eligible to participate in the incentive plan assuming that they have been employed at JA of Chicago for at least six months and meet requirements based on their performance review. The plan is funded based on JA of Chicago's fundraising goal. At target performance, payouts for bonuses are determined based on percentage of base salary. The Compensation Committee of the Board of Directors administers the plan and has discretion over the rules and interpretations of the plan. Form 990, Part VI, Section A, line 2 Junior Achievement of Chicago has a board of directors comprised of top executives from a broad range of industries. By the very nature of having a large board, some directors have family and business relationships with one another. These relationships do not cause a conflict with any tax-exempt purpose of Junior Achievement of Chicago. Form 990, Part VI, Section A, line 6 All persons or organizations who have contributed $5,000 or more in cash to this corporation during the immediately preceding 12 month period shall be a member. Form 990, Part VI, Section A, line 7a Each member at each election of directors will have one vote to elect. Form 990, Part VI, Section A, line 7b Each member shall be entitled to one vote on each matter submitted to a vote of the members. Form 990, Part VI, Section B, line 11b A resolution was passed by JA of Chicago's Board of Directors authorizing the audit committee to approve the Form 990 on an annual basis. The audit committee reviews a draft of the completed Form 990 prior to filing with the IRS. A meeting is then held with JA's tax consultants to discuss the Form 990. If needed, changes are made. Copies of the final Form 990 are then made available to JA's full governing body at the Board of Directors meeting. Directors who were not available to view the Form 990 at the meeting are provided access to a copy via JA's website or online board portal. A final copy is then filed with the IRS. Form 990, Part VI, Section B, line 12c All of JA Chicago's employees and board members are required to complete and sign a conflict of interest declaration upon assuming their Junior Achievement responsibilities. Junior Achievement of Chicago's Executive Committee complete a new declaration annually. The remainder of the Board is asked to provide annual updates if there are any changes. (I.E. A new potential conflict arises.) All conflict of interest declarations are reviewed by Junior Achievement of Chicago's Vice President of Finance and Administration and President. Any potential conflicts that are noted either on the initial conflict of interest declaration or subsequently during the year are evaluated to determine if a true conflict exists and what steps are needed. Junior Achievement of Chicago's audit committee reviews all potential conflicts of interest on an annual basis. Form 990, Part VI, Section B, line 15 Junior Achievement USA and JA Chicago, in collaboration with Willis Towers Watson, have recently transitioned from the Equi-Comp system to adopt the Career and Compensation Framework, a strategic move aimed at formulating market-based salary ranges for JA Area Presidents. This transformation underscores the commitment to aligning executive compensation with the organizational strategy, fostering a culture of excellence, and driving exceptional performance among leadership teams. Leveraging market data, these organizations aim to benchmark executive compensation against industry peers, taking into account factors such as company size, regional labor costs, and industry dynamics. The final compensation determination for executives within these salary ranges is guided by an assessment of individual performance, organizational achievements, and alignment with strategic objectives. JA Chicago's Compensation Committee convenes on an annual basis to deliberate and ultimately approve compensation packages for key executives, including the President and CEO, Senior Vice President of Education and Operations, Vice President of Development, Vice President of Finance and Administration, Vice President of Digital Transformation, and Vice President of Programs. The Compensation Committee relies on comprehensive compensation data provided by JA USA and Willis Towers Watson personnel, coupled with performance evaluations for each key employee. Following these deliberations, the Chair of the Compensation Committee at JA Chicago formally communicates the approved compensation packages through a letter, thereby authorizing the appropriate compensation for the upcoming year. Form 990, Part VI, Section C, line 19 Junior Achievement of Chicago publishes its annual report on its website annually, in addition to its annual operating revenue and expenses. Governing documents, conflict of interest policy, and detailed financial statements are made available to the public upon request for the same period of disclosure as set forth in IRC Section 6104(d).