2016-08-08T09:11:24-05:00 2015-12-31 420714325 RSM US LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2015-01-01 364279013 Chicago Public Education Fund CHIC 3125584500 200 West Adams No 2150 Chicago IL 606065230 Heather Y Anichini President & CEO 3125584500 2016-08-08 1 Marek Rozowicz P01616027 3126343400 2015 2017-02-10 21:41:12Z Heather Y Anichini 200 West Adams No 2150 Chicago IL 606065230 7187180 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. 24 23 20 24 0 0 8765254 2380320 0 0 7410 157292 0 0 8772664 2537612 0 552010 0 0 1460682 1636734 0 0 272722 1615766 2218754 3076448 4407498 5696216 -1869886 14948783 12696363 827075 573164 14121708 12123199 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 2055314 552010 Innovative Educator NetworkThe Fund continues to support principals and their educator teams as they use innovative models to personalize instruction, accelerate student learning and move their public schools into the 21st century. In 2015, The Fund conducted a third cycle of its Summer Design Program (SDP), which enabled 40 public school teams to take part in a summer-long workshop series designed to help them implement small-scale innovations within their classrooms and schools. Following the SDP, The Fund offered continued programmatic and financial support to 25 schools; projects supported through this initiative included the expansion of personalized and blended learning strategies; the restructuring of physical classrooms; different approaches to class schedules; new professional development and peer engagement opportunities for teachers; and more. The Fund also provided support to the Breakthrough Schools Chicago initiative, a competitive grant program to catalyze the development of transformational, 21st Century school models that enhance personalized learning and accelerate student outcomes. In 2015, The Fund provided time, space, mentors and resources for seven schools to build on early innovations and to transform teaching and learning in a way that better meets student needs. The Fund's support also helped expand this program to an additional 23 schools, creating the largest educator-led, technology-enabled initiative in the country. 1095304 Principal Quality InitiativeThe Fund continues its support of increasing the number of high-performing principals in Chicago's public schools to 350 by 2018. In 2015, 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 principals participated in the Fellowship during 2015; ten percent of the city's principals are intended to participate over the three-year program. 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 65 percent response rate and were used to inform organizational strategy and programming. For example, with this data, The Fund published its 2015 School Leadership Report: Chicago's Fight to Keep Top Principals. The report summarized findings about the principal turnover rate in Chicago and provided four recommendations to help retain principals longer in their roles. With support from The Fund, the Chicago Public Schools Principal Quality Working Group built upon the 2015 School Leadership Report's call to improve principal supports, recommending a menu of differentiated professional development options to better meet the needs of all sitting and aspiring principals. The Fund's efforts have helped secure 212 high-quality principals leading Chicago's public schools, a more than 40 percent increase since this work began in late 2013. 479103 Educator EngagementThe 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 2015, The Fund focused on elevating the stories of the city's top-performing principals through several reports, including its Summer Design Program Report and Profiles in Schools Leadership: Leveraging Student-Based Budgeting report. The Fund also invested resources in its Educator Advisory Committee (EAC), designed to inform Fund strategy and program. In 2015, the EAC included educators from public schools citywide. 3629721 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 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 79 0 1 20 1 0 0 0 0 0 0 0 0 0 0 X 24 23 0 0 1 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 282536 0 29702 Brian P Simmons Chair 4.00 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 Jana R Schreuder 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 1.00 X 0 0 0 Kassie Davis Director 1.00 X 0 0 0 J Erik Fyrwald Director 1.00 X 0 0 0 John Garabedian Director 2.00 X 0 0 0 Jill M Garling Director 2.00 X 0 0 0 Brent Gledhill Director 1.00 X 0 0 0 Brett Hart Director (beginning 5/13/15) 1.00 X 0 0 0 Mellody Hobson Director 2.00 X 0 0 0 Timothy Knowles Director 1.00 X 0 0 0 Stuart E Lucas Director (beginning 9/16/15) 1.00 X 0 0 0 Siddharth Mehta Director 2.00 X 0 0 0 Anthony Miller Director 1.00 X 0 0 0 Deborah Quazzo Director (beginning 9/16/15) 1.00 X 0 0 0 Penny Bender Sebring Director 1.00 X 0 0 0 Tony Smith Director (through 4/30/15) 1.00 X 0 0 0 Elizabeth Swanson Director 1.00 X 0 0 0 Judy Pomeranz Director (beginning 12/2/15) 1.00 X 0 0 0 Chaula Gupta VP, Program Investments 40.00 X 180687 0 25590 Matt Lyons COO (through 12/4/15) 40.00 X 169375 0 11843 Nelson Gerew Director, Investment Impact 40.00 X 105400 0 4264 737998 0 71399 4 0 1 0 Leap Innovations 222 W Merchandise Mart Plaza Ste Chicago IL 60654 Breakthrough schools initiative support 465000 Northwestern University 2001 Sheridan Road Evanston IL 60208 Executive training for top principals 265000 TrueSchool Studio LLC 643 Magazine St Ste 206 New Orleans LA 70130 Educator-led innovation support 225652 Jasculca Terman Strategic Commun 730 N Franklin St Ste 510 Chicago IL 60654 Media relations consulting 113678 4 2380320 2380320 181017 181017 4625843 4649568 -23725 -23725 -23725 2537612 0 0 157292 X 552010 552010 716684 596058 54252 66374 709116 527543 92047 89526 19914 14431 2848 2635 108125 81838 12976 13311 82895 65078 8649 9168 74737 74737 22644 22644 1359297 1283123 76174 306385 197925 57853 50607 85884 43804 35194 6886 42333 32051 5244 5038 165082 124986 20449 19647 38011 27572 10320 119 30090 26615 3475 74873 56687 9275 8911 5808 5808 Dues and Subscriptions 13610 13110 500 4407498 3629721 505055 272722 2984629 1540343 1185026 1042854 7907530 5564392 24925 103048 506156 423938 149536 82218 2670633 4315683 26504 47825 14948783 12696363 55145 396206 629000 100000 142930 76958 827075 573164 X 6127480 6259462 7994228 5863737 14121708 12123199 14948783 12696363 -1869886 -128623 0 X 0 1 X 1 0 X 406124 439199 3881540 8765254 2380320 15872437 406124 439199 3881540 8765254 2380320 15872437 8489783 7382654 9311 5829 12324 7763 181017 216244 16088681 0.45890 0.45430 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4407498 4407498 370375 92594 0 0 363381 282814 303822 370375 1320392 1980588 90845 70704 75956 92594 330099 495149 0 1 X 176475 120323 56152 329681 303615 26066 82218 Deferred Rent 76958 76958 X 2508989 -128623 100000 -28623 2537612 0 2537612 4507498 100000 100000 4407498 0 4407498 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 2015, donations in the amount of $276,666 were collected from donors and recorded to the statements 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 second of two $200,000 payments was received in 2015. In 2015, $300,000 was disbursed under the direction of Crown, leaving a balance of $100,000 to be disbursed over the remaining term of the agreement, which ends in October 2016. 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 2012. 1 Chicago Public Schools 42 W Madison Street Chicago IL 60602 366005821 552010 To foster innovation in Chicago Public Schools 1 0 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 232536 0 50000 0 0 0 11600 0 18102 0 312238 0 0 0 Chaula Gupta VP, Program Investments 153487 0 27200 0 0 0 7488 0 18102 0 206277 0 0 0 Matt Lyons COO (through 12/4/15) 144075 0 25300 0 0 0 5861 0 5982 0 181218 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 A, line 4 The bylaws of The Fund were amended for the following: The number of Directors, including any Ex Officio Directors, but excluding any individuals holding the title of Director Emeritus, shall be no less than twenty-two (22) and no more than twenty-seven (27), as shall be fixed from time to time by resolution of the Board of Directors. Form 990, Part VI, Section B, line 11 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 0. Management and general expenses 73,439. Fundraising expenses 0. Total expenses 73,439. Clerical Temps: Program service expenses 8,832. Management and general expenses 2,735. Fundraising expenses 0. Total expenses 11,567. Program Service Fees: Program service expenses 1,274,291. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,274,291.