Chicago Fashion Development

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2007

Legal Domicile

Phone

3127815267

Tax Period

2023-01-01 to 2023-12-31

Chicago Fashion Development, founded in 2007, is a small nonprofit in the Arts, Culture & Humanities sector that reported $114K in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion. The organization ran a surplus of $42K, a strong 37% operating margin.

Mission

TO PROVIDED EMERGING CHICAGO-BASED DESIGNERS IN RESIDENCE WITH THE RESOURCES, BUSINESS ACUMEN, AND MENTORING TO LAUNCH THEIR CAREERS IN FASHION

Program Service Accomplishments

Program 1

Expenses: $48,057 Revenue: $29,210

DESIGNER IN RESIDENCE uses innovative solutions to mentor and promote fashion entrepreneurs by bridging the gap between design education and business enterprise. It provides design and business...

DESIGNER IN RESIDENCE uses innovative solutions to mentor and promote fashion entrepreneurs by bridging the gap between design education and business enterprise. It provides design and business development training to Chicagos fashion entrepreneurs through mentorship, workshops and seminars.

Program 2

Expenses: $1,537 Revenue: $200

PUBLIC PROGRAMS hosts public workshops and seminars on topics aimed to educating fashion designers and entrepreneurs on industry and business best practices. It collaborates with design schools on...

PUBLIC PROGRAMS hosts public workshops and seminars on topics aimed to educating fashion designers and entrepreneurs on industry and business best practices. It collaborates with design schools on service projects, and its designers engage about 25 interns per year.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $80,101

Program Service Revenue $29,410

Investment Income $4,807

Other Revenue $7

TOTAL REVENUE $114,325

Expense Breakdown

Grants Paid $0

Salaries & Benefits $40,000

Fundraising Expenses $0

Program Expenses $49,594

Other Expenses $32,403

TOTAL EXPENSES $72,403

Year-over-Year Comparison

	2023	2022	Change
Revenue	$114,325	$105,691	+0.1%
Expenses	$72,403	$66,596	+0.1%
Net Income	$41,922	$39,095	+0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$40,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANNA HOVET	EXECUTIVE DIRECTOR	20.00	Director	$40,000	$0	$40,000
ANDREA SCHWARTZ	PRESIDENT	4.00	Officer	$0	$0	$0
MEGAN BUESCHEL	VICE PRESIDENT	1.00	Officer	$0	$0	$0
LIZ KORES	TREASURER/SECRETARY	1.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2023	$114,325	$72,403	$513,036	$41,922