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Chicago Scholars Foundation

EIN 36-4117530 · Chicago, IL

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak46 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

CHICAGO SCHOLARS IS TRANSFORMING THE LEADERSHIP LANDSCAPE OF OUR CITY BY RESOLVING THE FUNDAMENTAL BARRIERS TO SUCCESS FOR ACADEMICALLY DRIVEN, FIRST GENERATION COLLEGE STUDENTS FROM UNDER-RESOURCED COMMUNITIES.

Income
$5.0 million
Spending
$7.6 million
Spent on programs
70%
Reserves
2 months of spending
Largest source of income
donations and private grants, 91%
Employees
119
Volunteers
950
Highest pay
$256,847, ceo

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 46 out of 100. Higher than 24% of charities in its peer group (education, $1m to $10m).

  • Reserves

    10 of 35

    Spendable reserves would cover 2.0 months of spending.

  • Debt

    16 of 20

    It owes 16% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 52% of income.

  • Income trend

    5 of 15

    Income fell 23% on the year before.

  • Spending floor

    15 of 15

    70% of spending went to programs and raising each dollar of donations cost 21 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 74% of charities in its peer group (education, $1m to $10m).

  • Independent board

    25 of 25

    36 of 36 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (2)
  1. $4.3 million spent. CHICAGO SCHOLARS OFFERS AN INNOVATIVE SEVEN-YEAR PROGRAM LASTING FROMTHE SUMMER BEFORE THEIR SENIOR YEAR OF HIGH SCHOOL THROUGH THE SENIORYEAR OF COLLEGE AND ENDING WITH TWO YEARS OF LEADERSHIP DEVELOPMENT. INTHEIR FIRST YEAR OF PROGRAMMING, SCHOLARS WORK CLOSELY WITH COLLEGECOUNSELORS, MENTORS AND PEERS TO APPLY TO COLLEGES AND UNIVERSITIESTHAT ARE THEIR RIGHT MATCH, FIT AND FINANCIAL FIT. OUR HOLISTICAPPROACH STRIVES FOR OUR SCHOLARS TO FIND THE COLLEGES AND UNIVERSITIESWHERE THEY CAN BUILD COMMUNITY AND FOSTER BELONGING. CHICAGO SCHOLARSPROVIDES SCHOLARS ENROLLED IN COLLEGE UNIQUE SCHOLARSHIP OPPORTUNITIES,CONTINUED MENTORSHIP AND A COMMUNITY OF PEOPLE WHO CARE, SO THAT OURSCHOLARS PERSIST THROUGH COLLEGE, THRIVE IN THEIR STUDIES AND GRADUATEWITH DEGREES THAT LEAD TO MEANINGFUL CAREERS, HIGHER SALARIES ANDECONOMIC MOBILITY. CHICAGO SCHOLARS CAREER PROGRAMMING HELPS OURSCHOLARS GAIN ACCESS TO THE KEY INTERNSHIPS, OPPORTUNITIES, ANDNETWORKS THAT WILL LEAD THEM TO THEIR FIRST JOBS AND LAUNCHLIFE-CHANGING CAREERS. EACH YEAR CHICAGO SCHOLARS WORKS TO IMPROVE ITSPROGRAMS, SERVICES AND PARTNERSHIPS. TO DATE, MORE THAN 6,000 CHICAGOSCHOLARS ARE IN OR HAVE COMPLETED THE PROGRAM. 88% OF OUR SCHOLARS ANDALUMS COME FROM LOW-INCOME HOUSEHOLDS. 82% ARE FIRST GENERATION COLLEGESTUDENTS. OUR SCHOLARS HAVE COME FROM ALL 77 CHICAGO COMMUNITY AREAS.HISTORICALLY, 96% OF SCHOLARS MATRICULATE TO COLLEGE IN THE FALLFOLLOWING THEIR HIGH SCHOOL GRADUATION, AND 76% EARN THEIR DEGREESWITHIN SIX YEARS. OVERALL THE SCHOLARS ATTENDED OR GRADUATED FROM MORETHAN 500 COLLEGES AND UNIVERSITIES WORLDWIDE.
  2. $941,632 spent. REACH PATHWAYS, L3C: IN MAY 2024, CHICAGO SCHOLARS TRANSITIONED ITS SINGLE MEMBER LIMITED LIABILITY COMPANY, REACH PATHWAYS, LLC (REACH) TO A MULTI-MEMBER LOW-PROFIT LIMITED LIABILITY COMPABY (L3C), WITH THE INTENTION OF EXPENDING ACCESS TO THE FOUNDATION'S PROVEN CURRICULUM TO MORE UNDER-RESOURCED STUDENTS THROUGH TEHNOLOGY AND GENERATING NEW POTENTIAL REVENUE OPPORTUNITIES TO DIVERSIFY THE FOUNDATION'S REVENUES.REACH IS THE COLLEGE AND CAREER PATHWAY FOR UNDER-RESOURCED STUDENTS IN AN INNOVATIVE TECHNOLOGY PLATFORM. REACH CONNECTS STUDENTS WITH COLLEGES AND COMPANIES.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since March 1997.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.