2022-07-13T16:44:11-05:00 2021-08-31 362938874 OSTROW REISIN BERK & ABRAMS LTD 455 N CITYFRONT PLAZA DR SUITE 1500 CHICAGO IL 60611 990 2020-09-01 363675466 DANIEL MURPHY SCHOLARSHIP FUND DANI 3124557800 309 W WASHINGTON SUITE 700 CHICAGO IL 60606 CINDY HALLUMS EXECUTIVE DIRECTOR 3124557800 2022-07-11 1 CINDY HALLUMS 999009999 JAMES G QUAID P00641738 3126707444 2022-07-11 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z CINDY HALLUMS 309 W WASHINGTON SUITE 700 CHICAGO IL 60606 7301564 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. 11 11 19 300 0 0 3366863 5006527 0 0 473122 397792 -245847 -231880 3594138 5172439 1652348 1666899 0 0 1150233 1423048 0 0 645422 978837 942678 3781418 4032625 -187280 1139814 11920435 13887675 2746751 2267960 9173684 11619715 X SEE PART I LINE 1. 0 0 2804264 1666899 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 2021/2020 AND 2020/2019 SCHOOL YEARS, THE FUND SERVED 471 AND 456 SCHOLARS, RESPECTIVELY. 102454 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. 98764 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. 27328 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.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. 27328 3032810 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 14 0 19 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 11 11 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 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 TONY GOODMAN BOARD MEMBER 5.00 X 0 0 0 WENDY MANNING BOARD MEMBER 5.00 X 0 0 0 CHRIS MCCOMISH BOARD MEMBER 5.00 X 0 0 0 JOHN ORMSBY BOARD MEMBER 5.00 X 0 0 0 WILL TORRES BOARD MEMBER 5.00 X 0 0 0 JIM WOLDENBERG BOARD MEMBER 5.00 X 0 0 0 JOSE RODRIGUEZ EXECUTIVE DIRECTOR 40.00 X 173040 0 5779 TIM KENNEDY CHIEF ADVANCEMENT OFFICER 40.00 X 164800 0 4944 337840 0 10723 2 0 1 0 0 2217806 308300 2480421 428398 5006527 108629 108629 1634015 1344852 289163 289163 289163 551500 2217806 784273 -232773 -232773 MISCELLANEOUS REVENUE 900099 893 893 893 5172439 0 0 165912 1666899 1666899 178819 71527 107292 1091562 649784 52698 389080 20001 12247 3 7751 58897 33586 7009 18302 73769 41942 9131 22696 6000 6000 54531 54531 63638 63638 226838 165321 15336 46181 154672 69283 9271 76118 72294 32383 4333 35578 213110 174207 8593 30310 21641 19141 342 2158 57481 40245 8457 8779 18559 11493 5066 2000 20659 11497 2693 6469 TUTORING 33255 33255 4032625 3032810 354393 645422 12977 12981 1929996 2753119 450374 388011 10341 57446 127235 28919 114627 57779 75407 56848 9297863 10574109 16242 16242 11920435 13887675 53164 319582 1760863 1643600 604594 220900 208132 107230 96646 2746751 2267960 X 5753524 7721934 3420160 3897781 9173684 11619715 11920435 13887675 1139814 1306217 0 X 0 1 X 1 0 X 3723038 3164147 3239247 3366863 5006527 18499822 3723038 3164147 3239247 3366863 5006527 18499822 1420835 17078987 140411 162131 241723 174417 108629 827311 893 893 19328026 0.88360 0.84220 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8593485 1688325 63638 10218172 7928581 1067708 350250 52554 8593485 8273251 61927 350000 56597 7928581 7470694 22000 1201342 365000 55785 8273251 6975799 7000 837365 298265 51205 7470694 0.66000 0.34000 0 0 70276 32435 37841 13564 5211 8353 30787 20133 10654 56848 DEFERRED RENT 96646 96646 X 6520554 1306217 1306217 5214337 63638 -105536 -41898 5172439 4074523 105536 105536 3968987 63638 63638 4032625 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, 2021. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED WITH REVENUE -105,536. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED WITH REVENUE 105,536. GOLF OUTING 746617 520117 226500 32437 198999 62250 GOLF OUTING 2022689 1697689 325000 59037 345228 86322 2769306 2217806 551500 91474 544227 148572 784273 -232773 1 SCHOLARSHIPS - SCHOLARS 471 1666899 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 0 0 0 0 0 0 0 0 0 JOSE RODRIGUEZ EXECUTIVE DIRECTOR 173040 0 0 0 0 0 5191 0 588 0 178819 0 0 0 TIM KENNEDY CHIEF ADVANCEMENT OFFICER 164800 0 0 0 0 0 4944 0 0 0 169744 0 0 0 X 32 428398 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.