2014-10-07T10:19:46-05:00 2013-12-31 420714325 MCGLADREY LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2013-01-01 364279013 Chicago Public Education Fund CHIC 3125584500 200 West Adams No 2150 Chicago IL 606065230 Heather Y Anichini President & CEO 3125584500 2014-10-06 1 Wayne Harder P00294296 3126343400 2013 2015-11-30 17:44:51Z Heather Y Anichini 200 West Adams No 2150 Chicago IL 606065230 3924503 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. 17 16 18 18 0 0 439199 3881539 0 0 6945 11476 0 0 446144 3893015 0 0 0 0 1202472 1356933 0 0 313887 3065155 1299338 4267627 2656271 -3821483 1236744 7796655 8843438 597289 408336 7199366 8435102 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 902304 Innovative Educator Network - The Fund continues its partnership with public schools across the city in its drive to enable educator-led teams to reinvent classroom learning in ways that dramatically improve student outcomes. In 2013, this included work to: - Launch the organization's inaugural Summer Design Program, which allowed sixteen public school teams to take part in a summer-long workshop series designed to help them implement small scale innovations within their schools and classrooms. Initial results were promising as schools reported increased engagement amongst students and staff and identified improvements to strengthen their models - Secure participation in Breakthrough Schools: Chicago, a $2 million competition for school designers and other entrepreneurial educators to develop and launch next-generation schools in Chicago that provide personalized instruction. This citywide initiative is designed to move beyond tinkering with what we have, and develop the more effective solutions we need. Seven schools were ultimately selected to receive funding as part of this initiative, six of which participated in the Summer Design Program. - Continue support of New Classrooms, an innovative middle school mathematics model in place at two traditional public schools in Chicago. The major areas of focus were assisting the organization in the development of a long-term sustainability model and in enhancing the services provided at the existing school sites. 760486 Principal Quality Initiative - The Fund continues its support of investments in increasing principal quality, focusing its efforts on growing the number of high-performing and high-potential principals from 150 to at least 350 by 2018. In 2013, this included work to: - Support an engagement by the Civic Consulting Alliance (CCA) that focused on principal quality in the City of Chicago. CCA worked closely with Chicago Public Schools (CPS) to build and manage a comprehensive, cross-functional strategy with a singular goal: securing an effective, high-quality principal in every school- a principal who is capable of driving and sustaining growth in student achievement. - Assist CPS in identifying and implementing policy changes that provide principals increased decision-making authority in the management of their schools' resources 215897 Framework for Transformation - The Fund continues to provide strategic support for city-wide efforts to grow a world-class system of public schools. In 2013, this included work to: - Support CPS in the development of its five-year action plan, which outlines key metrics for school and student success, and is supported by individual "pillars." Each pillar has an established owner, and quarterly benchmarks for which owners are responsible. - Assist CPS in the development and approval of a new School Quality Rating Policy (SQRP), which includes a clearer focus on student growth and ultimately allows for clear and equitable comparisons across all schools. 1878687 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 145 0 1 18 1 0 0 0 0 0 0 0 0 0 0 X 17 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X Matt Lyons 3125584500 200 West Adams Ste 2150 Chicago IL 606065230 Heather Y Anichini President & CEO 40.00 X X 256171 0 37712 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 Susan Crown Director 1.00 X 0 0 0 Stephen A Cruise Director (through 12/17/13) 1.00 X 0 0 0 Jill M Garling Director 2.00 X 0 0 0 J Erik Fyrwald Director 1.00 X 0 0 0 John Garabedian Director 1.00 X 0 0 0 Mellody Hobson Director 2.00 X 0 0 0 Timothy Knowles Director 1.00 X 0 0 0 Siddharth Mehta Director 2.00 X 0 0 0 Deborah Quazzo Director (through 6/19/13) 1.00 X 0 0 0 Edward B Rust Jr Director 1.00 X 0 0 0 Ralph W Rydholm Director 1.00 X 0 0 0 Penny Bender Sebring Director 1.00 X 0 0 0 Scott C Smith Director (through 12/17/13) 2.00 X 0 0 0 Arnaldo Rivera COO 40.00 X 108559 0 4370 Julia Mellow CFO (through 06/30/13) 20.00 X 68575 0 2743 Patrick Haugh Vice President-Schools & Instruction 40.00 X 172027 0 6904 Benjamin Kutylo Director, Program Investments 40.00 X 116662 0 4732 721994 0 56461 4 0 1 0 Civic Consulting Alliance 21 S Clark Street Suite 4301 Chicago IL 60603 CPS talent evaluation strategy 200000 New Classrooms Innovation Partners 1250 Broadway 30th FL New York NY 10001 CPS instructional strategy 143500 2 3881539 3881539 12324 12324 30640 31488 -848 -848 -848 3893015 0 0 11476 X 733161 513213 102643 117305 430338 301237 60247 68854 41262 28883 5777 6602 78242 54769 10954 12519 73930 51751 10350 11829 24561 8300 16261 21283 21283 749116 603047 146069 88518 37795 20472 30251 56938 34815 11700 10423 66103 44377 8837 12889 157715 105880 21084 30751 40147 26447 11700 2000 39762 33862 5400 500 51107 34311 6832 9964 4088 4088 2656271 1878687 463697 313887 456633 1113186 7080307 4221415 219086 3292065 7873 11643 474728 274195 28160 200533 4596 4596 7796655 8843438 42494 40439 544000 159000 10795 208897 597289 408336 X 7000123 4521194 199243 3913908 7199366 8435102 7796655 8843438 1236744 -1008 0 X 0 1 X 1 0 X 708951 2083591 406124 439199 3881540 7519405 708951 2083591 406124 439199 3881540 7519405 4015621 3503784 122508 40472 9311 5829 12324 190444 7709849 0.45450 0.55040 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2656271 2656271 282814 70704 0 0 322610 314948 363381 282814 1283753 1925630 80653 78737 90845 70704 320939 481409 0 1 X 176475 24065 152410 298253 250130 48123 200533 Deferred Rent 208897 208897 X 3892007 -1008 -1008 3893015 0 3893015 2656271 0 2656271 0 2656271 Part IV, Line 2b: The Fund is acting as a fiscal agent for Chicago Public Schools (CPS) in connection with the CPS principal bonus plan which began in 2012. Under this agreement, The Fund has agreed to accept payment of pledges from various donors secured by CPS, and to process payments to school principals, as directed by CPS, for each of the four calendar years from 2012 through 2015. During 2013, $750,000 in pledge payments was collected and recorded to the statement of financial position as a liability. A total of $1,135,000 was disbursed during 2013 for principal bonus payments, reducing the recorded liability and leaving a remaining balance of $159,000 to be disbursed under this agreement in future years. Part X, Line 2: The Fund is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code and similar statutes of Illinois 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 2010. X X X 0 0 0 0 0 0 0 1 0 Heather Y Anichini President & CEO 221171 0 35000 0 0 0 10580 0 27132 0 293883 0 0 0 Patrick Haugh Vice President-Schools & Instruction 157027 0 15000 0 0 0 6904 0 0 0 178931 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 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. Responses are reviewed by the COO 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. For other staff salaries, a survey 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, and subsequently approved by the Executive Committee of the Board. The process for determining the compensation is documented. Form 990, Part VI, Section C, line 19 The organization discloses its governing documents, conflict of interest policy and financial statements for public inspection upon request. Form 990, Part IX, line 11g Consultants for Operational Activities: Program service expenses 603,047. Management and general expenses 146,069. Fundraising expenses 0. Total expenses 749,116.