CHICAGO FOUNDATION FOR WOMEN

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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

1985

Legal Domicile

Principal Officer

SUNNY FISCHER

Phone

3125772833

Tax Period

2023-07-01 to 2024-06-30

CHICAGO FOUNDATION FOR WOMEN, founded in 1985, is a community nonprofit that reported $6.8M in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year. Expenses of $5.9M left a modest 14% surplus.

Mission

FOR OVER THIRTY-NINE YEARS, CFW HAS BEEN THE ONLY ORGANIZATION IN THE REGION TO TAKE A COMPREHENSIVE APPROACH TO UNDERSTAND AND ADDRESS THE CHALLENGES AND NEEDS WOMEN AND GIRLS FACE THROUGH EVERY STAGE OF THEIR LIVES WITH A FOCUS ON ECONOMIC SECURITY, FREEDOM FROM VIOLENCE, AND ACCESS TO HEALTHCARE SERVICES AND INFORMATION. CFW WORKS WITH A COMMUNITY OF SOCIALLY-MINDED INVESTORS WHO SHARE OUR PASSION FOR IMPROVING THE LIVES OF WOMEN, GIRLS, TRANS, AND GENDER NON-BINARY PEOPLE AND ENSURES THAT EVERY DOLLAR THEY GIVE ACHIEVES MAXIMUM IMPACT. WE HOLD OURSELVES AND OUR GRANTEES TO A HIGH STANDARD: CONDUCTING RIGOROUS EVALUATION, CAREFUL MONITORING, AND ACHIEVING COMMUNITY-CENTERED RESULTS. CFW ALSO INVESTS IN THE FUTURE OF ORGANIZATIONS THROUGH LEADERSHIP DEVELOPMENT AND BUILDING SUSTAINABLE NONPROFIT INFRASTRUCTURE. AS A RESULT, TWO-THIRDS OF NONPROFITS FOR WHICH CFW WAS THE FIRST INSTITUTIONAL FUNDER ARE STILL THRIVING TEN YEARS AFTER RECEIVING THEIR FIRST CFW GRANT.

Program Service Accomplishments

Program 1

Expenses: $3,130,089

GRANT MAKING: CFW REMAINS AT THE FOREFRONT OF IDENTIFYING THE NEXT CHALLENGES FOR WOMEN, GIRLS, AND GENDER EXPANSIVE INDIVIDUALS WITH DEEP ROOTS IN THE COMMUNITY. IN FISCAL YEAR 2024, WORKING WITH...

GRANT MAKING: CFW REMAINS AT THE FOREFRONT OF IDENTIFYING THE NEXT CHALLENGES FOR WOMEN, GIRLS, AND GENDER EXPANSIVE INDIVIDUALS WITH DEEP ROOTS IN THE COMMUNITY. IN FISCAL YEAR 2024, WORKING WITH NEARLY 3,000 DONORS AND LOCAL PARTNERS ON THE FRONT LINES, CFW INVESTED A TOTAL OF $2,784,015 THROUGH 184 GRANTS, SUPPORTING 147 ORGANIZATIONS WORKING TO ADVANCE HEALTH, ECONOMIC SECURITY AND SAFETY OF CHICAGO-AREA WOMEN, GIRLS, TRANS AND GENDER NONBINARY INDIVIDUALS.CFW SUPPORTS ORGANIZATIONS AND THEIR LEADERS THROUGHOUT THE GREATER CHICAGO AREA, INCLUDING COOK, LAKE, DUPAGE, WILL, MCHENRY AND KANE COUNTIES. OVER THE PAST YEAR, CFW GRANTS SERVED 315,115 PEOPLE, OF WHICH 224,773 (84%) IDENTIFIED AS WOMEN OR GIRLS.

Program 2

Expenses: $552,394

CAPACITY BUILDING: CFW INTENTIONALLY COUPLES ITS GRANT MAKING WITH A BROAD RANGE OF HIGH-QUALITY PROGRAMS RANGING FROM BOARD DEVELOPMENT, TO FUNDRAISING TO EXECUTIVE COACHING FOR EMERGING WOMEN...

CAPACITY BUILDING: CFW INTENTIONALLY COUPLES ITS GRANT MAKING WITH A BROAD RANGE OF HIGH-QUALITY PROGRAMS RANGING FROM BOARD DEVELOPMENT, TO FUNDRAISING TO EXECUTIVE COACHING FOR EMERGING WOMEN LEADERS ON THE FRONTLINES OF THE GENDER EQUITY MOVEMENT. THROUGH THIS WORK, CFW BUILDS THE STRENGTH OF WOMEN-LED ORGANIZATIONS AND ENSURES THAT ORGANIZATIONAL AND LEADERSHIP DEVELOPMENT IS APPLIED WITH A GENDER LENS, PARTICULARLY WHEN ORGANIZATIONAL LEADERS ARE WORKING TO ADDRESS POVERTY AND INEQUITY.CFW'S GIVING COUNCILS AND CIRCLES REPRESENT GROUPS OF ENERGIZED AND DIVERSE PEOPLE WHO HAVE COME TOGETHER AROUND SHARED INTERESTS TO RAISE MONEY AND AWARD GRANTS. CFW HOSTS TWO GIVING COUNCILS AND THREE GIVING CIRCLES.

Program 3

Expenses: $437,460

OUTREACH, ADVOCACY AND COMMUNICATIONS: THANKS TO THE PAST, SUSTAINED SUPPORT OF THESE MOVEMENTS AND THEIR INFRASTRUCTURE, CFW AND OUR PARTNERS HAVE BEEN ABLE TO HARNESS THE OPPORTUNITY TO DRIVE...

OUTREACH, ADVOCACY AND COMMUNICATIONS: THANKS TO THE PAST, SUSTAINED SUPPORT OF THESE MOVEMENTS AND THEIR INFRASTRUCTURE, CFW AND OUR PARTNERS HAVE BEEN ABLE TO HARNESS THE OPPORTUNITY TO DRIVE PROGRESSIVE CHANGE. CFW'S INVESTMENT IN COALITIONS, ADVOCACY AND BUILDING THE LEADERSHIP DEVELOPMENT OF ADVOCATES HAS CONTRIBUTED TO MANY PRO-WOMEN, GIRLS AND GENDER EXPANSIVE PEOPLE LEGISLATION. AS A RESULT, ILLINOIS IS INCREASINGLY BECOMING A BASTION FOR WOMEN'S RIGHTS AND PROTECTIONS.

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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 $6,124,966

Program Service Revenue $0

Investment Income $789,730

Other Revenue $-79,631

TOTAL REVENUE $6,835,065

Expense Breakdown

Grants Paid $2,787,515

Salaries & Benefits $1,436,137

Fundraising Expenses $729,896

Program Expenses $4,517,334

Other Expenses $1,665,607

TOTAL EXPENSES $5,889,259

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,835,065	$7,924,915	-0.1%
Expenses	$5,889,259	$6,397,441	-0.1%
Net Income	$945,806	$1,527,474	-0.4%

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

385

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

$326,065

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JESSICA SOHL	BOARD CHAIR	3.00	Officer Director	$0	$0	$0
TANYA G DAVIS	TREASURER	3.00	Officer Director	$0	$0	$0
ANGELA L PUTNAM	SECRETARY	3.00	Officer Director	$0	$0	$0
ANN MARIE WRIGHT	IMMED PAST CHAIR	1.00	Officer Director	$0	$0	$0
NAILA ALEXANDER	DIRECTOR	1.00	Director	$0	$0	$0
JOAN BACON	DIRECTOR	1.00	Director	$0	$0	$0
ALICIA C L BAILEY	DIRECTOR	1.00	Director	$0	$0	$0
REBECCA BROKMEIER	DIRECTOR	1.00	Director	$0	$0	$0
DEBORAH B COLE	DIRECTOR	1.00	Director	$0	$0	$0
REGINA CROSS	DIRECTOR	1.00	Director	$0	$0	$0
LAUREN DENSHAM	DIRECTOR	1.00	Director	$0	$0	$0
ERICA DUNCAN	DIRECTOR	1.00	Director	$0	$0	$0
GEORGINA E HEARD-LABONNE	DIRECTOR	1.00	Director	$0	$0	$0
FRAYA LYNN HIRSCHBERG	DIRECTOR	1.00	Director	$0	$0	$0
NORMAN B JONES	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN M KUROWSKI	DIRECTOR	1.00	Director	$0	$0	$0
EMILY LONIGRO	DIRECTOR	1.00	Director	$0	$0	$0
JILL LYONS	DIRECTOR	1.00	Director	$0	$0	$0
ANITA MITAL	DIRECTOR	1.00	Director	$0	$0	$0
GRETCHEN WOLF	DIRECTOR	1.00	Director	$0	$0	$0
SUNNY FISCHER	INTERIM CEO (THRU MAY-24)	40.00	Officer	$32,333	$0	$32,333
FELICIA BLAKLEY	PRESIDENT & CEO (THRU AUG 2023)	40.00	Officer	$151,431	$10,684	$162,115
LORA YORK	SR. PROGRAM OFFICER	40.00	Officer	$118,959	$12,658	$131,617

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
2025	No data	No data	No data	No data
2024	$6,835,065	$5,889,259	$25,617,006	$945,806
2023	$7,924,915	$6,397,441	$23,723,909	$1,527,474
2022	$10,062,657	$6,384,476	$20,116,109	$3,678,181
2021	$5,080,080	$5,367,644	$20,403,643	$-287,564
2020	$5,591,095	$4,805,526	$17,396,463	$785,569
2019	$8,723,665	$5,389,556	$17,354,514	$3,334,109