HFS CHICAGO SCHOLARS

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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

1993

Legal Domicile

Principal Officer

KATHY L CLOLINGER

Phone

3124214070

Tax Period

2023-07-01 to 2024-06-30

HFS CHICAGO SCHOLARS, founded in 1993, is a community nonprofit in the Education sector that reported $1.6M in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $561K, a strong 36% operating margin.

Mission

HFS CHICAGO SCHOLARS (HFS) WAS CREATED FOR THE EXPRESS PURPOSE OF SUPPORTING THE EDUCATIONAL ASPIRATION OF ECONOMICALLY DISADVANTAGED, BUT ACADEMICALLY MOTIVATED CHICAGO INNER-CITY YOUTH. HFS GRANTS PARTIAL SCHOLARSHIPS TO QUALIFYING STUDENTS, WORKS WITH OTHER UNRELATED SCHOLARSHIP FUNDS AND THE CHOSEN HIGH SCHOOL OF THE SCHOLARSHIP RECIPIENTS TO ADDRESS FULL TUITION AND OTHER SCHOOL COST NEEDS OF THE RECIPIENTS AND PROVIDES AN ACTIVE MENTOR FOR EACH RECIPIENT TO HELP THE RECIPIENT SUCCESSFULLY ACHIEVE HIS OR HER EDUCATIONAL GOALS.

Program Service Accomplishments

Program 1

Expenses: $930,018

DURING FISCAL YEAR 2024, HFS PROVIDED PARTIAL HIGH SCHOOL SCHOLARSHIPS TO 222 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 (2023)

Revenue Breakdown

Contributions & Grants $1,558,706

Program Service Revenue $0

Investment Income $190,594

Other Revenue $-175,786

TOTAL REVENUE $1,573,514

Expense Breakdown

Grants Paid $442,010

Salaries & Benefits $459,775

Fundraising Expenses $69,714

Program Expenses $930,018

Other Expenses $110,370

TOTAL EXPENSES $1,012,155

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,573,514	$1,238,566	+0.3%
Expenses	$1,012,155	$1,030,555	0.0%
Net Income	$561,359	$208,011	+1.7%

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

250

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

$104,750

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL J KENNELLY	BOARD CHAIRM	5.00	Officer Director	$0	$0	$0
JAMES ALLEGRETTI	DIRECTOR	0.50	Director	$0	$0	$0
KATHY L CLOLINGER	TREASURER	5.00	Officer Director	$0	$0	$0
DESIREE PEPPER-VENZANT	EXECUTIVE DI	40.00	Officer	$104,750	$0	$104,750
HEATHER ALBRIGHT	DIRECTOR	0.50	Director	$0	$0	$0
DEAN BEKAS	DIRECTOR	0.50	Director	$0	$0	$0
KEVIN CALLAHAN	DIRECTOR	0.50	Director	$0	$0	$0
JOSEPH DIMBERIO	DIRECTOR	0.50	Director	$0	$0	$0
BRIAN GALLAGHER	DIRECTOR	0.50	Director	$0	$0	$0
MARK GERTZOF	DIRECTOR	0.50	Director	$0	$0	$0
KARA GOODWIN	DIRECTOR	0.50	Director	$0	$0	$0
DAVID HILGER	DIRECTOR	0.50	Director	$0	$0	$0
HON MATTHEW KENNELLY	DIRECTOR	0.50	Director	$0	$0	$0
DAVID KUCERA	DIRECTOR	0.50	Director	$0	$0	$0
JIM LENTZ	DIRECTOR	0.50	Director	$0	$0	$0
KERRI LIN	DIRECTOR	0.50	Director	$0	$0	$0
KEVIN MCCARTY	DIRECTOR	0.50	Director	$0	$0	$0
MARK MCCARVILLE	DIRECTOR	0.50	Director	$0	$0	$0
SCOTT MEYER	DIRECTOR	0.50	Director	$0	$0	$0
TAMARA MEYER	DIRECTOR	0.50	Director	$0	$0	$0
CARMEN ONTIVEROS	DIRECTOR	0.50	Director	$0	$0	$0
GEORGE N PANAGAKIS	DIRECTOR	0.50	Director	$0	$0	$0
CHRISTOPHER PETRINI-POLI	DIRECTOR	0.50	Director	$0	$0	$0
DONOVAN PEPPER	DIRECTOR	0.50	Director	$0	$0	$0
NANCY PETERMAN	DIRECTOR	0.50	Director	$0	$0	$0
FRANK PETITO	DIRECTOR	0.50	Director	$0	$0	$0
CHRISTOPHER RAUB	DIRECTOR	0.50	Director	$0	$0	$0
CLAUDIA SARAN	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL SCOLARO	DIRECTOR	0.50	Director	$0	$0	$0
JAMES SHEEHAN	DIRECTOR	0.50	Director	$0	$0	$0
GREGORY TEEGEN	DIRECTOR	0.50	Director	$0	$0	$0
DAVID TRACY	DIRECTOR	0.50	Director	$0	$0	$0
LAURA VAN PEENAN	DIRECTOR	0.50	Director	$0	$0	$0
CHRIS VARONES	DIRECTOR	0.50	Director	$0	$0	$0
JOY WALTON	DIRECTOR	0.50	Director	$0	$0	$0
JASON WHITE	DIRECTOR	0.50	Director	$0	$0	$0
SUZANNE YOON	DIRECTOR	0.50	Director	$0	$0	$0
JOHN SIKORA	DIRECTOR	0.50	Director	$0	$0	$0
BRIAN ZYGMUNT	DIRECTOR	0.50	Director	$0	$0	$0
ALEX AGRAN	DIRECTOR	0.50	Director	$0	$0	$0
JOHN KAVANAUGH	DIRECTOR	0.50	Director	$0	$0	$0
SEAN MEEHAN	DIRECTOR	0.50	Director	$0	$0	$0
ANDREW WEIL	DIRECTOR	0.50	Director	$0	$0	$0
SCOTT WILLIAMS	DIRECTOR	0.50	Director	$0	$0	$0
EDWARD KELLER	DIRECTOR	0.50	Director	$0	$0	$0
JOHN MCLAUGHLIN	DIRECTOR	0.50	Director	$0	$0	$0
SUZANNE MARTINEZ	DIRECTOR	0.50	Director	$0	$0	$0
DENNIS CROWLEY	DIRECTOR	0.50	Director	$0	$0	$0
ANTHONY GARCIA	DIRECTOR	0.50	Director	$0	$0	$0
JAMES JONES	DIRECTOR	0.50	Director	$0	$0	$0
KEVIN BLITZ	DIRECTOR	0.50	Director	$0	$0	$0
JIM CONVERY	DIRECTOR	0.50	Director	$0	$0	$0
CHRISTIAN COOLEY	VICE CHAIRMA	0.50	Officer Director	$0	$0	$0
TANJA BABICH	DIRECTOR	0.50	Director	$0	$0	$0
ANGELA CINEFRO	DIRECTOR	0.50	Director	$0	$0	$0
JENNIFER DRISCOLL	DIRECTOR	0.50	Director	$0	$0	$0
THOMAS JOHANNESEN	DIRECTOR	0.50	Director	$0	$0	$0
KAREN QUIRK	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL SHARKEY	DIRECTOR	0.50	Director	$0	$0	$0
YI WEI	DIRECTOR	0.50	Director	$0	$0	$0
JORDAN CURNES	DIRECTOR	0.50	Director	$0	$0	$0
SAMEER GHAZNAVI	DIRECTOR	0.50	Director	$0	$0	$0
ADAM POLLOCK	DIRECTOR	0.50	Director	$0	$0	$0
JOHN KELLER	DIRECTOR	0.50	Director	$0	$0	$0
VERNIS BARRIER-LIKES	DIRECTOR	0.50	Director	$0	$0	$0
JERRY PRASSAS	DIRECTOR	0.50	Director	$0	$0	$0
STEVE GRIMES	DIRECTOR	0.50	Director	$0	$0	$0
RYAN GROMMES	DIRECTOR	0.50	Director	$0	$0	$0
J JAMES O'MALLEY	VICE CHAIR	0.50	Officer Director	$0	$0	$0
RAYMOND WHEARLEY	SECRETARY	0.50	Officer Director	$0	$0	$0
RONA BORRE	DIRECTOR	0.50	Director	$0	$0	$0
JASON DEJONKER	DIRECTOR	0.50	Director	$0	$0	$0
GERALD MOLIDOR	DIRECTOR	0.50	Director	$0	$0	$0
DANIEL QUINTANA	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL SULLIVAN	DIRECTOR	0.50	Director	$0	$0	$0
DANIEL TIEMANN	DIRECTOR	0.50	Director	$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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2024	$1,573,514	$1,012,155	$4,624,897	$561,359
2023	$1,238,566	$1,030,555	$3,690,922	$208,011
2022	$1,459,597	$896,430	$3,204,620	$563,167
2021	$1,440,591	$821,964	$3,193,096	$618,627
2020	$1,203,137	$900,677	$2,163,971	$302,460
2019	$1,277,817	$883,398	$1,719,380	$394,419