2017-10-12T17:52:45-05:00 2016-12-31 420714325 RSM US LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2016-01-01 364279013 Chicago Public Education Fund CHIC 3125584500 200 West Adams No 2150 Chicago IL 606065230 Heather Y Anichini President & CEO 3125584500 2017-09-01 1 Wayne Harder P00294296 3126343400 108.171.131.171 2017-09-01 10:26:46 CD P 4B8E1423B9F197D509CCF13AB357181C17C415CB 2F19F48C8E78A10B2DBA8E230931C90B6DD2ADFA 2016 2021-01-29 14:40:06Z Heather Y Anichini 200 West Adams No 2150 Chicago IL 606065230 11001596 0 X www.TheFundChicago.org X 1999 IL The Fund is a nonprofit organization that works to build a critical mass of great public schools in Chicago by investing in talented principals and enabling educator teams to reinvent classroom learning in ways that dramatically improve student outcomes. The Fund is a catalyst for accelerating student learning in all of Chicago's public schools, and has been a longstanding leader in identifying and scaling what works for teachers and principals, as well as the students they serve. Please visit our website at www.thefundchicago.org to learn more about The Fund. 25 24 23 26 0 0 2380320 3302398 0 0 157292 121639 0 0 2537612 3424037 552010 422287 0 0 1636734 1722204 0 0 189851 2218754 2505265 4407498 4649756 -1869886 -1225719 12696363 11388702 573164 527087 12123199 10861615 X The Chicago Public Education Fund (the Fund) is building a critical mass of great public schools in Chicago by investing in talented principals and enabling educator teams to reinvent classroom learning in ways that dramatically improve student outcomes. 0 0 1814902 Principal Quality Initiative The Fund is working to increase the number of high-performing principals in Chicago's public schools to 350 by 2018. In 2016, this included work to improve the retention of Chicago's top-performing public school principals through the Chicago Principals Fellowship. The Fellowship, which is a partnership between The Fund, Crown Family Philanthropies, Chicago Public Schools, and Northwestern University, is an executive-level leadership development program intended to grow the skills of top principals and further expand their leadership capacity. Twenty-five high-performing principals joined the third cohort of the Chicago Principal Fellowship in 2016, committing to lead in CPS for at least three years. In addition, The Fund partnered with the Cahn Fellows Program at Teachers College, Columbia University, to offer slots to eight Chicago principals, making this the largest Chicago cohort to date. The Cahn Fellows Program is a national fellowship program that seeks to recognize top principals and develop their capacity as leaders. The Fund also worked to inform its own and the city's efforts to improve principal quality by performing regular engagement surveys, exit surveys and focus groups with public school principals in Chicago. The Fund's surveys alone yielded a 73 percent response rate and were used to inform organizational strategy and programming. For example, with this data, The Fund published its 2016 School Leadership Report: The Right Match: A Strong Principal in Every Public School. The report provided three recommendations on another key element of principal quality: finding the right principal match for each school community from the start. In response to a recommendation by the Chicago Public Schools Principal Quality Working Group, The Fund helped establish The Chicago Principal Partnership (The Partnership), a citywide effort to ensure all Chicago public schools are led by a strong principal. Through The Partnership, a portal for hiring managers was launched, helping to connect best-fit candidates to principal vacancies. Together, The Fund's efforts have helped secure 259 high-quality principals leading Chicago's public schools. 1617315 422287 Innovative Educator NetworkThe Fund supports principals and their educator teams as they use innovative models to personalize instruction and accelerate student learning. During 2016, 114 principals received in-role supports through The Fund's programs and investments. This includes 21 principals who engaged in coaching opportunities with Fulcrum Education Solutions and Teach For America (TFA), and 45 principals who participated in one of seven principal-led Professional Learning Communities (PLCs). Each PLC is led by high-performing principals recruited from previous cohorts of the Chicago Principal Fellowship, Summer Design Program (SDP) and Breakthrough Schools: Chicago. It also includes 48 principal-led teams who participated in The Fund's fourth annual SDP, a unique professional development opportunity that offers school teams the space, time and expertise to design innovative solutions to some of their most pressing challenges. Through the 2016 SDP, principal-led teams worked directly with expert partners from Sensible Innovation, LEAP Innovations and the National SAM Innovation Project. Recognizing the critical role of innovation in our schools, we also continued our support for Breakthrough Schools: Chicago (BSC), a nationally-recognized program that empowers schools to transform into personalized learning models that serve as local and national exemplars for innovation in education. In 2016, seven new schools received launch grants of $280,000 as a part of BSC; four of these schools were former participants in SDP. The Fund had the opportunity to work with each of these schools and principals in 2016. 501809 Educator Engagement The Fund works to engage educators as much as possible and to establish the fundamental conditions necessary to enable high-performing principals to transform schools. In 2016, The Fund focused on elevating the stories of the city's top-performing principals through several reports, including its Summer Design Program 2014-15 Report, Retention Progress Report: A Look Back, The Path Forward, and Voices from the Field: Strategies from School Leaders to Improve REACH report. The Fund also invested resources in its Educator Advisory Committee (EAC), designed to inform Fund strategy and program. In 2016, the EAC included principals and assistant principals from public schools citywide. 3934026 1 1 0 1 0 0 0 0 1 0 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 0 0 0 0 0 0 0 0 0 0 0 1 31 0 1 23 1 0 0 0 0 0 0 0 0 0 0 X 25 24 0 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 Ste 2150 Chicago IL 606065230 Heather Y Anichini President & CEO 40.00 X X 297811 0 38111 Brian P Simmons Chair 4.00 X X 0 0 0 Brent Gledhill Chair Elect 3.00 X X 0 0 0 Kenneth C Griffin Vice Chair 3.00 X X 0 0 0 Helen H Zell Vice Chair 3.00 X X 0 0 0 Jill M Garling Treasurer 3.00 X X 0 0 0 Barbara Malott Kizziah Secretary 3.00 X X 0 0 0 Laura Bilicic Director 1.00 X 0 0 0 Kevin Callis Director 1.00 X 0 0 0 Susan Crown Director (through 12/8/16) 1.00 X 0 0 0 Gillian Darlow Director 1.00 X 0 0 0 Kassie Davis Director 1.00 X 0 0 0 Jim Frank Director 1.00 X 0 0 0 J Erik Fyrwald Director (through 6/21/16) 1.00 X 0 0 0 John Garabedian Director 1.00 X 0 0 0 Brett Hart Director 1.00 X 0 0 0 Mellody Hobson Director 1.00 X 0 0 0 Timothy Knowles Director 1.00 X 0 0 0 Stuart E Lucas Director 1.00 X 0 0 0 Siddharth Mehta Director 1.00 X 0 0 0 Anthony Miller Director 1.00 X 0 0 0 Judy Pomeranz Director 1.00 X 0 0 0 Deborah Quazzo Director 1.00 X 0 0 0 Jana R Schreuder Director 3.00 X 0 0 0 Penny Bender Sebring Director 1.00 X 0 0 0 Elizabeth Swanson Director 1.00 X 0 0 0 David J Vitale Director 1.00 X 0 0 0 Chaula Gupta VP, Program Investments 40.00 X 180507 0 32695 Nelson Gerew Director, Data, Policy & Reports 40.00 X 110801 0 6024 589119 0 76830 3 0 1 0 Leap Innovations 222 W Merchandise Mart Plaza Ste Chicago IL 60654 Breakthrough schools initiative support 346000 Northwestern University 2001 Sheridan Road Evanston IL 60208 Executive training for top principals 290000 National SAM Innovation Project 9100 Shelbyville Rd Ste 280 Louisville KY 40222 Summer Design Program Support 162540 University of Illinois-Chicago 1040 West Harrison Street M/C 147 Chicago IL 60607 Principal Leadership Coaching 145500 4 3302398 3302398 188642 188642 7510556 7577559 -67003 -67003 -67003 3424037 0 0 121639 X 400287 400287 22000 22000 549124 416367 88504 44253 938338 758992 116185 63161 27559 22470 3281 1808 116885 93060 15519 8306 90298 71429 12366 6503 10173 10173 22950 22950 1865808 1730051 135757 156006 96868 19999 39139 92045 45277 42771 3997 41391 32527 5870 2994 199621 156874 28309 14438 22371 18047 4324 17331 12707 4624 72621 57070 10299 5252 4948 4948 4649756 3934026 525879 189851 1540343 1764499 1042854 1037008 5564392 3905406 103048 42905 487814 441130 82218 46684 4315683 4551469 47825 40731 12696363 11388702 396206 481849 100000 0 76958 45238 573164 527087 X 6259462 6409709 5863737 4451906 12123199 10861615 12696363 11388702 -1225719 -35865 0 X 0 1 X 1 0 X 439199 3881540 8765254 2380320 3302398 18768711 439199 3881540 8765254 2380320 3302398 18768711 10096639 8672072 5829 12324 7763 181017 188642 395575 19164286 0.45250 0.45890 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4696267 4696267 384813 96203 0 0 282814 303822 370375 384813 1341824 2012736 70704 75956 92594 96203 335457 503186 0 1 X 176475 168453 8022 311339 272677 38662 46684 Deferred Rent 45238 45238 X 3434683 -35865 46511 10646 3424037 0 3424037 4696267 46511 46511 4649756 0 4649756 Part IV, Line 2b: The Fund acted as a fiscal agent for Chicago Public Schools (CPS) in connection with the CPS principal bonus plan that began in 2012. This agreement provided that The Fund would accept payment of pledges from various donors secured by CPS, and would process annual bonus payments to school principals, as directed by CPS. During the year ended 2015, donations in the amount of $276,666 were collected from donors and recorded to the statement of financial position as a liability, and $435,000 was disbursed for principal bonus payments. After the bonus payments to principals were made in 2015, CPS and the donors agreed to terminate this agreement, and The Fund refunded the remaining $270,666 of unspent funds to the donors. Additionally, during 2014, The Fund agreed to serve as fiscal agent on behalf of Crown Family Philanthropies (Crown) with respect to the CPS Principal Fellowship Program in partnership with Northwestern University. The Fund received two payments of $200,000, the first in 2015, and the second in 2016. Under the direction of Crown, $100,000 and $300,000 were disbursed during 2016 and 2015, respectively. Part X, Line 2: The Fund is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code and applicable state law. In addition, The Fund qualifies for the charitable contribution deduction under Section 170(b)(1)(A) and has been classified as an organization that is not a private foundation under Section 509(a)(2). The accounting standard on accounting for uncertainty in income taxes addressed the determination of whether tax benefits claimed on a tax return should be recorded in the financial statements. Under this guidance, The Fund 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 The Fund and the various positions related to the potential sources of unrelated business taxable income (UBTI). The tax benefits recognized in the financial statement from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. The Fund does not believe that there are any unrecognized tax benefits or tax liabilities that should be recorded for the reporting periods presented in these financial statements. The Fund is generally no longer subject to examination by the Internal Revenue Service for years before 2013. 1 Chicago Public Schools 42 W Madison Street Chicago IL 60602 366005821 400287 To foster innovation in Chicago Public Schools. 1 0 Grants To Principals 7 22000 Part I, Line 2: The Fund makes investments in grantees pursuant to benchmark schedules, and grant dollars are disbursed to grantees only upon documented evidence that grantees are achieving or working toward achieving the most critical factors for their programs 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. At any point during the grant period, The Fund may withhold the associated payment if a particular benchmark is not met or can decide to discontinue funding if ample progress is not being made in a timely manner against the specified benchmark goals. X X X X 0 0 0 0 0 0 0 1 0 Heather Y Anichini President & CEO 247811 0 50000 0 0 0 12200 0 25911 0 335922 0 0 0 Chaula Gupta VP, Program Investments 153307 0 27200 0 0 0 7480 0 25215 0 213202 0 0 0 Part I, Line 7 Employees may receive a year-end bonus computed as a percentage of their base salary. For the President & CEO, the Executive Committee determines the final amount to be paid. For all other staff, the CEO determines the final amount to be paid. Form 990, Part VI, Section B, line 11b The President and CEO reviews the completed Form 990, and then it is emailed in final form to the Operations, Finance, and Audit Committee, as well as to the entire Board of Directors, for their review and comments prior to filing 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 President & CEO for review and, when necessary, referred to the Executive Committee for their 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 in relation to 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 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, through review of Form 990s and survey data produced by national and regional industry associations. For other staff salaries, a review of compensation levels at comparable organizations was conducted by the CEO, and her recommendations for salary adjustments were reviewed by the Operations, Finance and Audit Committee 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 web site. 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). Form 990, Part IX, line 11g Consultants: Program service expenses 29,990. Management and general expenses 134,251. Fundraising expenses 0. Total expenses 164,241. Clerical Temps: Program service expenses 4,780. Management and general expenses 1,506. Fundraising expenses 0. Total expenses 6,286. Program Service Fees: Program service expenses 1,695,281. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,695,281.