UNITE HERE CHICAGO HOSPITALITY APPRENTICESHIP FUND

EIN: 822569287 501(c)(3) Education

CHICAGO, IL

Total Revenue
$1,643,421
Total Expenses
$1,085,621
Total Assets
$3,674,053
Net Assets
$3,580,217
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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
2017
Legal Domicile
IL
Principal Officer
KAREN KENT
Phone
3127916344
Tax Period
2023-09-01 to 2024-08-31

UNITE HERE CHICAGO HOSPITALITY APPRENTICESHIP FUND, founded in 2017, is a community nonprofit in the Education sector that reported $1.6M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. The organization ran a surplus of $558K, a strong 34% operating margin.

Mission

OUR MISSION IS TO UP-SKILL INCUMBENT HOSPITALITY PROFESSIONALS, BUILD NEW TALENT FOR THE HOSPITALITY INDUSTRY AND PLACE PEOPLE INTO UNIONIZED CAREER PATHWAYS THROUGH TRAINING PROGRAMS WHICH INCLUDE REGISTERED APPRENTICESHIPS. WE RECRUIT, TRAIN, AND RETAIN SKILLED EMPLOYEES AND PROVIDE ONGOING PROFESSIONAL DEVELOPMENT AND SUPPORT TO INDIVIDUALS IN THE CHICAGOLAND AREA, WHO WILL DELIVER HIGH QUALITY GUEST SERVICES TO OUR EMPLOYER PARTNERS AND TO THE PUBLIC.

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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 $126,858
Program Service Revenue $1,456,656
Investment Income $59,907
Other Revenue $0
TOTAL REVENUE $1,643,421

Expense Breakdown

Grants Paid $2,075
Salaries & Benefits $552,556
Fundraising Expenses $0
Program Expenses $959,765
Other Expenses $530,990
TOTAL EXPENSES $1,085,621

Year-over-Year Comparison

2023 2022 Change
Revenue $1,643,421 $1,352,687 +0.2%
Expenses $1,085,621 $991,725 +0.1%
Net Income $557,800 $360,962 +0.5%
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

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Governance

Voting Members
4
Independent Members
4
Employees
6
Volunteers
N/A

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
1
$128,491
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KAREN KENT TRUSTEE 2.00
Director
$0 $0 $0
DAN MILLER TRUSTEE 2.00
Director
$0 $0 $0
SEAN ERIC CENTAZZO TRUSTEE 0.20
Director
$0 $0 $0
NICHOLAS JORGENSEN TRUSTEE 0.20
Director
$0 $0 $0
SHERYL MORRIS EXECUTIVE DIRECTOR 40.00
Officer
$121,791 $6,700 $128,491
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 $1,643,421 $1,085,621 $3,674,053 $557,800
2023 $1,352,687 $991,725 $2,893,410 $360,962
2022 $993,753 $759,428 $2,461,756 $234,325
2021 $355,701 $379,594 $2,646,189 $-23,893
2020 $588,897 $201,712 $2,549,026 $387,185
2019 $1,063,351 $89,534 $2,132,820 $973,817
2018 $1,148,669 $13,952 $1,148,654 $1,134,717
2018 $1,148,669 $13,952 $1,148,654 $1,134,717
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