Big Shoulders Fund

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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

1986

Legal Domicile

Phone

3127518337

Tax Period

2024-07-01 to 2025-06-30

Big Shoulders Fund, founded in 1986, is a mid-sized nonprofit in the Education sector that reported $53.2M in total revenue in fiscal year 2024. Revenue fell 37% from the prior year — a significant decline worth monitoring. Net assets of $129.4M represent 29 months of operating reserves.

Mission

We provide support to underserved schools which provide a quality, values-based education for Chicago's children. In 2020, Big Shoulders Fund's programming was extended to the Northwest Indiana region.

Program Service Accomplishments

Program 1

Expenses: $24,074,917

School operations: DISTRIBUTED OPERATING AND CAPITAL GRANTS TO MULTIPLE SCHOOLS IN AN EFFORT TO PREVENT SCHOOL CLOSURES; ALSO ASSISTED SCHOOLS IN IMPROVING MARKETING/RECRUITING, BUILDING NEW EXTERNAL...

Program 2

Expenses: $13,580,195

Student Scholarship Programs: ADMINISTERED OVER90 DISTINCT SCHOLARSHIP PROGRAMS THAT INCLUDE MENTORING, ENRICHMENT AND OTHER SUPPORT ACTIVITIES. 5,267 SCHOLARSHIPS WERE AWARDED TO 5,080 STUDENTS AT...

Program 3

Expenses: $12,158,860

Academic Enrichment and Leadership Development: BIG SHOULDERS ADMINISTERS OVER 25 ONGOING PROGRAMS IN 90 SCHOOLS INVOLVING OVER 800 TEACHERS AND ADMINISTRATORS TO IMPROVE INSTRUCTION AND LEARNING...

Academic Enrichment and Leadership Development: BIG SHOULDERS ADMINISTERS OVER 25 ONGOING PROGRAMS IN 90 SCHOOLS INVOLVING OVER 800 TEACHERS AND ADMINISTRATORS TO IMPROVE INSTRUCTION AND LEARNING THROUGH LEADERSHIP AND PROFESSIONAL DEVELOPMENT, PROFESSIONAL LEARNING COMMUNITIES AND ACCESS TO HIGH QUALITY CURRICULA WITH FOCUS ON MATH, SCIENCE, CIVICS, AND LITERACY. PROVIDE A VARIETY OF OTHER NEEDED CAPITAL AND PROGRAMMATIC SUPPORT TO ENSURE A SAFE, EFFECTIVE LEARNING ENVIRONMENT FOR NEARLY 25,000 STUDENTS THROUGH ONGOING ENRICHMENT PROGRAMS INCLUDING A SCIENCE AND LEADERSHIP CAMP, AFTERSCHOOL PROGRAMS, SUMMER PROGRAMS, AND OTHER OPPORTUNITIES FOR STUDENTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $42,507,854

Program Service Revenue $130,909

Investment Income $10,487,082

Other Revenue $30,042

TOTAL REVENUE $53,155,887

Expense Breakdown

Grants Paid $41,830,502

Salaries & Benefits $8,758,777

Fundraising Expenses $1,355,756

Program Expenses $51,665,619

Other Expenses $4,295,588

TOTAL EXPENSES $54,884,867

Year-over-Year Comparison

	2024	2023	Change
Revenue	$53,155,887	$84,776,624	-0.4%
Expenses	$54,884,867	$75,889,009	-0.3%
Net Income	$-1,728,980	$8,887,615	-1.2%

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

114

Volunteers

3457

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

$934,894

Total Directors

Key Employees

$804,478

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
John Croghan	Vice Chairman	1.0	Officer Director	$0	$0	$0
Kenneth J Velo	Co-Chairman	25.0	Officer Director	$0	$0	$0
Kent Dauten	Co-Chairman	15.0	Officer Director	$0	$0	$0
Arthur R Velasquez	Board of Trustees	1.0	Director	$0	$0	$0
Charles K Bobrinskoy	Board of Trustees	1.0	Director	$0	$0	$0
Cherryl Thomas	Board of Trustees	1.0	Director	$0	$0	$0
Christine E Kelly	Board of Trustees	1.0	Director	$0	$0	$0
Christopher Valenti	Board of Trustees	1.0	Director	$0	$0	$0
Daniel Doherty	Board of Trustees	1.0	Director	$0	$0	$0
David Dury	Board of Trustees	1.0	Director	$0	$0	$0
Dennis Fitzsimons	Board of Trustees	1.0	Director	$0	$0	$0
Elizabeth Cole	Board of Trustees	1.0	Director	$0	$0	$0
Gerald Beeson	Board of Trustees	1.0	Director	$0	$0	$0
Giancarlo Turano	Board of Trustees	1.0	Director	$0	$0	$0
Gregory Q Brown	Board of Trustees	1.0	Director	$0	$0	$0
James A Gordon	Board of Trustees	1.0	Director	$0	$0	$0
James Compton	Board of Trustees	1.0	Director	$0	$0	$0
James Hoeg	Board of Trustees	1.0	Director	$0	$0	$0
John A Canning Jr	Board of Trustees	1.0	Director	$0	$0	$0
John Schreiber	Board of Trustees	1.0	Director	$0	$0	$0
Kimberly Querrey	Board of Trustees	1.0	Director	$0	$0	$0
Larry Richman	Board of Trustees	1.0	Director	$0	$0	$0
Lee Henderson	Board of Trustees	1.0	Director	$0	$0	$0
Leigh-Anne Kazma	Board of Trustees	1.0	Director	$0	$0	$0
Mary Dempsey	Board of Trustees	1.0	Director	$0	$0	$0
Stephen King	Board of Trustees	1.0	Director	$0	$0	$0
Tao Huang	Board of Trustees	1.0	Director	$0	$0	$0
Thomas E Lanctot	Board of Trustees	1.0	Director	$0	$0	$0
Thomas Reynolds III	Board of Trustees	1.0	Director	$0	$0	$0
Timothy Sullivan	Board of Trustees	1.0	Director	$0	$0	$0
William Devers	Board of Trustees	1.0	Director	$0	$0	$0
William T Lynch	Board of Trustees	1.0	Director	$0	$0	$0
Joshua Hale	President and Chief Executive Officer	50.0	Officer	$585,588	$52,879	$638,467
Malcolm Douglas	Chief Financial Officer	50.0	Officer	$254,776	$41,651	$296,427
Amelia Drozda	Chief Advancement & Development Officer	50.0	Key Emp	$204,800	$21,844	$226,644
Daniel Bennett	Senior Director, Scholarships	50.0	Key Emp	$191,377	$39,202	$230,579
Rebecca Lindsay-Ryan	Chief Schools Officer	50.0	Key Emp	$292,828	$54,427	$347,255
Daniel Kozlowski	Managing Director, NWI	50.0	Highest	$166,775	$28,287	$195,062
Danielle Robinson	Managing Director, School Operations and Patrons Program	50.0	Highest	$165,754	$14,867	$180,621
Laura Nalley	Senior Director, People and Leadership	50.0	Highest	$159,145	$30,424	$189,569
Maria Ippolito	Managing Director, School Marketing and Enrollment	50.0	Highest	$154,012	$3,805	$157,817
Timothy Gallo	Managing Director, Plus Schools and Leadership	50.0	Highest	$171,161	$37,991	$209,152

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	$53,155,887	$54,884,867	$152,085,991	$-1,728,980
2024	$84,776,624	$75,889,009	$150,134,830	$8,887,615
2023	$65,677,021	$58,940,127	$135,423,582	$6,736,894
2022	$62,883,883	$52,614,506	$125,993,936	$10,269,377
2021	$61,700,078	$42,124,358	$110,535,170	$19,575,720
2020	$31,770,708	$33,216,976	$91,302,966	$-1,446,268
2019	$39,123,383	$26,421,697	$89,994,006	$12,701,686
2018	$31,933,425	$22,166,857	$79,203,116	$9,766,568