Chicago Family Business Council Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
EFBC exists to help entrepreneur, family businesses, and other closely held companies achieve their business goals through a unique peer support system and related educational programs that provide growth strategies for chief executives, their employees, their families, and their businesses.
- Income
- $548,614
- Spending
- $583,142
- Spent on programs
- 90%
- Reserves
- 11.4 months of spending
- Largest source of income
- fees for its services, 100%
- Employees
- 4
- Volunteers
- 57
- Highest pay
- $135,000, executive dir.
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
Good: 77 out of 100. Higher than 53% of charities in its peer group (community improvement, $250k to $1m).
Reserves
28 of 35Spendable reserves would cover 11.4 months of spending.
Debt
20 of 20It owes 10% of what it owns.
Living within its means
4 of 15Spending exceeded income by 6% of income.
Income trend
10 of 15Income fell 5% on the year before.
Spending floor
15 of 1590% of spending went to programs.
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 92% of charities in its peer group (community improvement, $250k to $1m).
Independent board
25 of 259 of 9 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports 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 (1)
- $522,426 spent. THE ORGANIZATION OPERATES TO PROMOTE EDUCATIONAL AND CHARITABLE PURPOSES FOR FAMILY, CLOSELY HELD, AND ENTREPRENEURIAL BUSINESS THROUGH ACTIVITIES WHICH INCLUDE BUT NOT LIMITED TO: EDUCATIONAL PROGRAMMING, PEER-TO-PEER FORUM GROUPS, ENCOURAGEMENT OF STUDENT SCHOLARSHIPS FOR INVOLVEMENT, RESEARCH IN THE FIELD OF FAMILY BUSINESS AND EMOTIONAL INTELLIGENCE.FORUMS - Forums are the heartbeat of EFBC. These groups give EFBC members a chance to share their business, family and personal experiences with one another in a confidential setting. Your forum is a place where youre not expected to have all the answers. Instead, your forum gives you the opportunity to draw on the experience and perspectives of fellow members to make the best choices for you and your business.EFBC offers forums for CEOs and business leaders, bringing a variety of entrepreneurs together in informal settings. After speaking with new members about their goals, EFBC selects forums for them that best suit their needs. Each forum is capped at nine members, and each participant comes from a different industry to create a diverse and rich set of perspectives within the group.Members that participate in a forum commit to nine meetings a year, which begin at 3 p.m. and last through dessert. Participants also attend a mandatory three-day, two-night retreat.PRESENTATION AND WORKSHOPS - Learning together is a key part of the EFBC experience. We offer a variety of educational programs throughout the year, including:Roots Curriculum: We offer educational courses under our core roots curriculum open to members and the general public. Courses are in a 2-month leadership training, 8-month team based strategic planning, execution and management course, family business 101, family meeting, and transitional preparation assessments.Powerful Speakers: EFBC regularly invites well-known business and cultural figures to share their insights at our seminars, which are open to members and the public. Past presenters include author and leadership expert Stephen R. Covey; JPMorgan Chase CEO Jamie Dimon; Diane Swonk, chief economist at Mesirow Financial; and Bill Rancic, winner of the first season of The Apprentice.Hands-On Workshops: Practical business skills are the focus at our hands-on workshops. Led by industry experts, these courses offer useful strategies you can put to work immediately in your own business. Recent topics include the art of negotiating, recruiting strategies and a primer on the 80/20 sales approach. The workshops are open to members and the public.EMOTIONAL INTELLIGENCE - Learning to handle social interactions and build relationships effectively is essential to becoming a strong manager and leader. Thats the idea behind emotional intelligence, a concept that our members use to guide their interactions in their forums and in their everyday lives.Emotional intelligence is a field of psychology that focuses on four social characteristics: self-awareness, self-management, social awareness and relationship management. Unlike IQ, which is largely hereditary, people can improve their emotional intelligence through training and practice. The benefits of improving your emotional intelligence include:Becoming more aware of your skills and talents and how to use them effectivelyIncreasing your empathy and listening skillsLearning how to analyze your options better and make the best choicesBuilding deeper, stronger relationshipsBuilding your confidence by applying what youve learned to your life successfullyEFBCs forums provide the framework that members need to develop their emotional intelligence so they can communicate effectively with fellow members, their employees and family members. Members can also participate in PdEI (Peer development for Emotional Intelligence), a training methodology created by EFBCs founder, James Liautaud. Liautaud, who has championed the concept of emotional intelligence and is a clinical professor at the University of Illinois at Chicago, runs the PDEI, PDT training at the Liautaud Institute.
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
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.
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.
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.
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.
How long has it been tax-exempt? Passed.
Recognized by the IRS since January 2020.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
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.