CPA ENDOWMENT FUND OF ILLINOIS

EIN: 364261924 501(c)(3) Education

CHICAGO, IL

Total Revenue
$579,912
Total Expenses
$472,808
Total Assets
$5,754,024
Net Assets
$5,741,944
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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
IL
Principal Officer
GEOFFREY BROWN
Phone
3129930407
Tax Period
2023-04-01 to 2024-03-31

CPA ENDOWMENT FUND OF ILLINOIS, founded in 1998, is a small nonprofit in the Education sector that reported $580K in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. The organization ran a surplus of $107K, a strong 18% operating margin.

Mission

TO ENSURE A STRONG, TALENTED, AND DIVERSE CPA PROFESSION IN ILLINOIS BY ENCOURAGING INDIVIDUALS TO CHOOSE ACCOUNTING AS A CAREER CHOICE AND BECOME A CPA, AND BY SUPPORTING STUDENTS, PARTICULARLY THOSE IN NEED, IN ACHIEVING THE CPA.

Program Service Accomplishments

Program 1
Expenses: $239,539

SCHOLARSHIPS: FOR HIGH-ACHIEVING ACCOUNTING STUDENTS AT ILLINOIS UNIVERSITIES WHO DEMONSTRATE A COMMITMENT TO BECOMING A CPA. SCHOLARSHIPS ARE PRIMARILY AWARDED TO STUDENTS IN THEIR FOURTH AND FIFTH...

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SCHOLARSHIPS: FOR HIGH-ACHIEVING ACCOUNTING STUDENTS AT ILLINOIS UNIVERSITIES WHO DEMONSTRATE A COMMITMENT TO BECOMING A CPA. SCHOLARSHIPS ARE PRIMARILY AWARDED TO STUDENTS IN THEIR FOURTH AND FIFTH YEAR OF STUDY, AS THE FIFTH YEAR CAN BE A SIGNIFICANT HURDLE FOR BRIGHT AND MOTIVATED YOUNG PEOPLE STRIVING TO JOIN THE CPA PROFESSION. CERTAIN SCHOLARSHIPS ARE DESIGNATED FOR MINORITY AND WOMEN STUDENTS TO INCREASE DIVERSITY IN THE PROFESSION AND SUPPORT FUTURE WOMEN LEADERS. CPA EXAM AWARD: FOR MANY ACCOUNTING STUDENTS AND NEW GRADUATES, THE COST OF THE CPA EXAMINATION CAN BE AN OBSTACLE IN THEIR JOURNEY TO BECOME CPAS. THIS FINANCIAL AWARD REIMBURSES QUALIFIED CANDIDATES FOR THE NASBA FEE.

Program 2
Expenses: $74,235

MARY T. WASHINGTON WYLIE INTERNSHIP PREPARATION PROGRAM: LAUNCHES BLACK / AFRICAN AMERICAN AND OTHER RACIAL / ETHNIC MINORITY COLLEGE STUDENTS INTO THE ACCOUNTING PROFESSION WITH ACCESS TO TRAINING...

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MARY T. WASHINGTON WYLIE INTERNSHIP PREPARATION PROGRAM: LAUNCHES BLACK / AFRICAN AMERICAN AND OTHER RACIAL / ETHNIC MINORITY COLLEGE STUDENTS INTO THE ACCOUNTING PROFESSION WITH ACCESS TO TRAINING, RESOURCES, AND MENTORS. AT THE END OF THE PROGRAM, EMPLOYERS INTERVIEW PARTCIPANTS FOR A VARIETY OF INTERNSHIPS AND FULL-TIME JOBS.

Program 3
Expenses: $38,374

STUDENT AMBASSADORS: FUND INNOVATIVE OUTREACH PROGRAM THROUGH WHICH ACCOUNTING STUDENTS ON MULTIPLE ILLINOIS CAMPUSES REACH OUT TO THEIR PEERS AND HIGH SCHOOL STUDENTS TO INTEREST THEM IN PURSUING...

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STUDENT AMBASSADORS: FUND INNOVATIVE OUTREACH PROGRAM THROUGH WHICH ACCOUNTING STUDENTS ON MULTIPLE ILLINOIS CAMPUSES REACH OUT TO THEIR PEERS AND HIGH SCHOOL STUDENTS TO INTEREST THEM IN PURSUING THE CPA. AMBASSADORS HOLD INFORMATION SESSIONS ABOUT THE CPA EXAM AND CAREER OPTIONS FOR CPAS, PROMOTE SCHOLARSHIP OPPORTUNITIES, AND NURTURE PERSONAL AND PROFESSIONAL SUPPORT NETWORKS AMONG FUTURE CPAS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $267,939
Program Service Revenue $0
Investment Income $311,973
Other Revenue $0
TOTAL REVENUE $579,912

Expense Breakdown

Grants Paid $239,539
Salaries & Benefits $177,780
Fundraising Expenses $67,766
Program Expenses $352,148
Other Expenses $55,489
TOTAL EXPENSES $472,808

Year-over-Year Comparison

2023 2022 Change
Revenue $579,912 $433,921 +0.3%
Expenses $472,808 $493,452 0.0%
Net Income $107,104 $-59,531 -2.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
22
Independent Members
22
Employees
N/A
Volunteers
50

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
7
$790,203
Total Directors
22
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KIMBERLEY WAITE DIRECTOR - PRESIDENT 1.00
Officer Director
$0 $0 $0
JASON PARISH DIRECTOR-VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
JEFFERY WATSON DIRECTOR-TREASURER 1.00
Officer Director
$0 $0 $0
MARTRICE CALDWELL DIRECTOR-SECRETARY 1.00
Officer Director
$0 $0 $0
HOWARD BLUMSTEIN IMMEDIATE PAST PRESIDENT 1.00
Director
$0 $0 $0
THOMAS MURTAUGH DIRECTOR 1.00
Director
$0 $0 $0
BRENT BACCUS DIRECTOR 1.00
Director
$0 $0 $0
ROSARIA CAMMARATA DIRECTOR 1.00
Director
$0 $0 $0
ROXANNE CHOW DIRECTOR 1.00
Director
$0 $0 $0
MARY FULLER DIRECTOR 1.00
Director
$0 $0 $0
MARK GLOCHOWSKY DIRECTOR 1.00
Director
$0 $0 $0
LEE GOULD DIRECTOR 1.00
Director
$0 $0 $0
GEOFFREY HARLOW DIRECTOR 1.00
Director
$0 $0 $0
ELIZABETH MURPHY DIRECTOR 1.00
Director
$0 $0 $0
KENTON KLAUS DIRECTOR 1.00
Director
$0 $0 $0
DAMIEN MARTIN DIRECTOR 1.00
Director
$0 $0 $0
LEILANI RODRIGO DIRECTOR 1.00
Director
$0 $0 $0
SARA MIKUTA DIRECTOR 1.00
Director
$0 $0 $0
DEBORAH ROOD DIRECTOR 1.00
Director
$0 $0 $0
ELIZABETH SLOAN DIRECTOR 1.00
Director
$0 $0 $0
MARIE SHAVER DIRECTOR 1.00
Director
$0 $0 $0
JONATHAN ACEVEDO DIRECTOR 1.00
Director
$0 $0 $0
GEOFFREY BROWN PRESIDENT/CEO 2.00
Officer
$0 $8,732 $375,140
RYAN MURNICK CFO/VP OF FINANCE & ADMINISTRATION 2.00
Officer
$0 $25,670 $173,811
JENNIFER SCHULTZ FORMER COO & CFO 2.00
Officer
$0 $105,323 $241,252
TODD SHAPIRO FORMER PRESIDENT/CEO 0.00
$0 $235,477 $383,899
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 $579,912 $472,808 $5,754,024 $107,104
2023 $433,921 $493,452 $5,260,549 $-59,531
2022 $817,597 $398,376 $5,844,349 $419,221
2021 $427,833 $372,718 $5,753,931 $55,115
2020 $553,346 $335,733 $4,417,248 $217,613
2019 $432,682 $294,916 $4,651,448 $137,766
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