CHICAGO CENTER FOR ARTS AND TECHNO… - Form 990 Financial Data

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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

2014

Legal Domicile

Principal Officer

DARRELL WILLIAMS

Phone

3122557071

Tax Period

2023-01-01 to 2023-12-31

CHICAGO CENTER FOR ARTS AND TECHNOLOGY INC, founded in 2014, is a community nonprofit in the Employment sector that reported $3.3M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $2.9M left a modest 14% surplus.

Mission

AT CHICAT, WE EDUCATE AND INSPIRE YOUTH THROUGH NO-COST ARTS AND TECHNOLOGY PROGRAMS. WE EMPOWER ADULTS THROUGH NO-COST JOB TRAINING PROGRAMS THAT HELP THEM FIND SUSTAINABLE EMPLOYMENT. WE ELEVATE THE TALENTS OF THE COMMUNITY THROUGH TRANSFORMATIVE ARTS (SEE SCH O) STUDIOS, INDUSTRY-DRIVEN VOCATIONAL TRAINING AND A BEAUTIFUL SPACE TO UNIFY THE COMMUNITIES WE SERVE.

Program Service Accomplishments

Program 1

Expenses: $1,174,819

CHICAT PROVIDES VOCATIONAL TRAINING IN THE MANUFACTURING AND HEALTHCARE INDUSTRIES. CHICAT'S HEALTH INFORMATION TECHNOLOGY PROGRAM PROVIDES STUDENTS WITH A THOROUGH UNDERSTANDING OF THE HEALTHCARE...

CHICAT PROVIDES VOCATIONAL TRAINING IN THE MANUFACTURING AND HEALTHCARE INDUSTRIES. CHICAT'S HEALTH INFORMATION TECHNOLOGY PROGRAM PROVIDES STUDENTS WITH A THOROUGH UNDERSTANDING OF THE HEALTHCARE REVENUE CYCLE, MEDICAL RECORDS MANAGEMENT, AND MEDICAL CODING. MAINTENANCE MECHANICS WORK WITH PRODUCTION MACHINES, TYPICALLY IN FACTORIES, AND OVERSEE MACHINE PERFORMANCE AND UPKEEP. CHICAT'S ADVANCED MANUFACTURING PROGRAM PROVIDES STUDENTS WITH A THOROUGH UNDERSTANDING OF THE FOOD MANUFACTURING INDUSTRIES.

Program 2

Expenses: $614,097

THE CHICAGO CENTER FOR ARTS & TECHNOLOGY'S NO-COST YOUTH ARTS PROGRAMS FOCUS ON THE INTERSECTION OF ART AND TECHNOLOGY THROUGH PROJECT-BASED LEARNING AND STEAM (SCIENCE, TECHNOLOGY, ENGINEERING, THE ARTS, AND MATH).WE STRIVE TO MEET THE ACADEMIC AND SOCIAL-EMOTIONAL NEEDS OF OUR STUDENTS BY OFFERING POST-SECONDARY ADVISING, INDIVIDUAL COUNSELING, AND MENTORSHIP SERVICES. OUR NO-COST PROGRAMS WILL ENABLE YOUTH TO REALIZE THEIR CREATIVE POTENTIAL AND SHARE IT WITH THEIR COMMUNITIES AND THE WORLD.

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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 $3,203,163

Program Service Revenue $67,352

Investment Income $59,050

Other Revenue $13,688

TOTAL REVENUE $3,343,253

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,648,421

Fundraising Expenses $149,460

Program Expenses $1,788,916

Other Expenses $1,233,746

TOTAL EXPENSES $2,882,167

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,343,253	$4,306,833	-0.2%
Expenses	$2,882,167	$2,792,584	+0.0%
Net Income	$461,086	$1,514,249	-0.7%

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

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
DARRELL WILLIAMS	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
STEVE SAROWITZ	VICE CHAIR	1.00	Director	$0	$0	$0
VERNON GAIR	TREASURER	1.00	Officer Director	$0	$0	$0
ALISON LOPEZ RESIGNED 121923	SECRETARY	1.00	Officer Director	$0	$0	$0
LINCOLN CHANDLER	DIRECTOR	1.00	Director	$0	$0	$0
DORRI MCWHORTER	DIRECTOR	1.00	Director	$0	$0	$0
XAVIER RAMEY	DIRECTOR	1.00	Director	$0	$0	$0
RAYVA MYLES	DIRECTOR	1.00	Director	$0	$0	$0
MARCUS BETTS	DIRECTOR	1.00	Director	$0	$0	$0
JOHN JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
TODD MACUMBER	DIRECTOR	1.00	Director	$0	$0	$0
TANMAY RAO	DIRECTOR	1.00	Director	$0	$0	$0
LISA MOULTRIE	EXECUTIVE DIRECTOR	40.00	Highest	$143,263	$16,371	$159,634
MARK FINKE	DIRECTOR OF FINANCE	40.00	Highest	$106,616	$2,156	$108,772
JOSHUA FULCHER	SR. DIR. OF COMMUNICATIONS	40.00	Highest	$102,000	$2,474	$104,474

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	$3,343,253	$2,882,167	$12,435,575	$461,086
2022	$4,306,833	$2,792,584	$12,007,631	$1,514,249
2021	$3,513,150	$2,232,096	$11,833,736	$1,281,054
2020	$3,710,353	$2,258,513	$10,632,058	$1,451,840
2019	$1,971,903	$2,382,584	$9,255,868	$-410,681
2018	$943,219	$2,482,738	$9,734,223	$-1,539,519

CHICAGO CENTER FOR ARTS AND TECHNOLOGY INC