EMPOWER ILLINOIS

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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

2010

Legal Domicile

Principal Officer

ANTHONY HOLTER

Phone

3123920220

Tax Period

2023-01-01 to 2023-12-31

EMPOWER ILLINOIS, founded in 2010, is a mid-sized nonprofit in the Education sector that reported $56.1M in total revenue in fiscal year 2023. Expenses of $79.7M exceeded revenue, resulting in a 42% operating deficit.

Mission

WE BELIEVE EVERY CHILD IN THE STATE OF ILLINOIS SHOULD HAVE AN EQUAL OPPORTUNITY FOR A QUALITY EDUCATION. EMPOWER ILLINOIS EXPANDS QUALITY EDUCATION OPTIONS FOR LOW-INCOME AND WORKING FAMILIES OF ILLINOIS, WITH A PARTICULAR EMPHASIS ON K-12 SCHOLARSHIPS AND STUDENT-CENTERED PUBLIC POLICY.

Program Service Accomplishments

Program 1

Expenses: $77,960,508

THE ORGANIZATION ADVOCATES FOR TAX CREDIT SCHOLARSHIPS, TAX CREDITS FOR TEACHERS' OUT OF POCKET EXPENSES ON SUPPLIES AND OTHER POLICY TO HELP STUDENTS ATTEND QUALIFIED NON-PUBLIC SCHOOLS THROUGHOUT ILLINOIS. THE ORGANIZATION CONTINUES TO PROVIDE SCHOLARSHIPS TO MIDDLE AND LOW INCOME CLASS FAMILIES AND WORKS TO INCREASE FAMILIES' ACCESS TO HIGH QUALITY SCHOOL OPTIONS THROUGH PUBLIC POLICY ADVOCACY. DURING 2023, THE ORGANIZATION GRANTED SCHOLARSHIPS TO CHILDREN OF LOW INCOME AND WORKING-CLASS FAMILIES TO ATTEND GRADES K-12 IN PRIVATE SCHOOLS THROUGHOUT ILLINOIS.

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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 $55,327,568

Program Service Revenue $0

Investment Income $776,101

Other Revenue $0

TOTAL REVENUE $56,103,669

Expense Breakdown

Grants Paid $74,967,678

Salaries & Benefits $2,526,058

Fundraising Expenses $550,785

Program Expenses $77,960,508

Other Expenses $2,120,484

TOTAL EXPENSES $79,656,220

Year-over-Year Comparison

	2023	2022	Change
Revenue	$56,103,669	$54,261,503	+0.0%
Expenses	$79,656,220	$53,735,497	+0.5%
Net Income	$-23,552,551	$526,006	-45.8%

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

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES PERRY	CHAIRMAN	1.00	Officer Director	$0	$0	$0
WARD HAMM	TREASURER	1.00	Officer Director	$0	$0	$0
JOHN SCHOENIG	SECRETARY	1.00	Officer Director	$0	$0	$0
SARA ALBRECHT	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL DALY	DIRECTOR	1.00	Director	$0	$0	$0
JACK BUCK	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL LIPINSKI	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK LOUGHERY	DIRECTOR	1.00	Director	$0	$0	$0
KARIN NORINGTON-REAVES	DIRECTOR	1.00	Director	$0	$0	$0
AVRUM WEINFELD	DIRECTOR	1.00	Director	$0	$0	$0
ANTHONY HOLTER	PRESIDENT	40.00	Highest	$301,230	$36,058	$337,288
JUAN RANGEL	STRATEGY DIRECTOR	40.00	Highest	$239,608	$28,286	$267,894
BRANDAN ALLEN	CFO	40.00	Highest	$198,345	$18,029	$216,374
ROBERT SYLVESTER	DIR OF SCHOOL & COMM. PARTNERSHIPS	40.00	Highest	$129,078	$38,243	$167,321
CHRISTOPHER DAVIS	DIRECTOR OF OPERATIONS	40.00	Highest	$149,647	$24,988	$174,635

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
2024	No data	No data	No data	No data
2023	$56,103,669	$79,656,220	$4,090,440	$-23,552,551
2022	$54,261,503	$53,735,497	$30,934,936	$526,006
2021	$51,375,016	$42,249,593	$28,007,450	$9,125,423
2020	$45,895,922	$40,907,437	$18,412,741	$4,988,485
2019	$46,283,449	$44,037,508	$13,908,953	$2,245,941
2018	$50,898,902	$41,319,177	$11,241,158	$9,579,725