2013-10-23T14:59:40-05:00 2012-12-31 420714325 MCGLADREY LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2012-01-01 364279013 Chicago Public Education Fund CHIC 3125584500 200 West Adams No 2150 Chicago IL 606065230 Heather Y Anichini 3125584500 2013-10-23 1 Wayne Harder P00294296 3126343400 2012 2016-02-24 21:20:13Z Heather Y Anichini 200 West Adams No 2150 Chicago IL 606065230 725411 0 X www.TheFundChicago.org X 1999 IL The Fund is a nonprofit organization that works to build a critical mass of great public schools in Chicago by investing in talented principals and enabling educator teams to reinvent classroom learning in ways that dramatically improve student outcomes. The Fund is a catalyst for accelerating student learning in all of Chicago's public schools, and has been a longstanding leader in identifying and scaling what works for teachers and principals, as well as the students they serve. Please visit our website at www.thefundchicago.org to learn more about The Fund. 18 17 11 19 0 0 406124 439199 0 0 9311 6945 0 0 415435 446144 763962 0 0 0 1800709 1202472 0 0 64240 734286 3065155 3298957 4267627 -2883522 -3821483 11280042 7796655 260729 597289 11019313 7199366 X The Chicago Public Education Fund (the Fund) is building a critical mass of great public schools in Chicago by investing in talented principals and enabling educator teams to reinvent classroom learning in ways that dramatically improve student outcomes. 0 0 1763732 Strategy The Fund continues to provide strategic support for city-wide efforts to grow a world-class system of public schools. In 2012, this included work to add strategic capacity during leadership transition at Chicago Public Schools (CPS). These investments engaged parents in providing feedback to district leadership and laid the data and analytics foundation for Chicago's 10-Year School Facilities Plan ("10 Year Neighborhood Vision"), which they will be publishing in the fall of 2013. 1035529 Schools and Instruction - The Fund partnered with public schools in Chicago to prove that much better academic outcomes can be achieved through innovative use of talent, technology, and time. In 2012, this included work to:- Bring New Classrooms, an innovative middle school mathematics model, to two traditional public schools in Chicago. Early results suggest positive impact on academic performance for more than 600 students.-Engage Parthenon Group (a consulting firm) to establish an analytic infrastructure to assess relative cost and impact of various school types and instructional programs within Chicago. Results include growth of successful International Baccalaureate (IB), Science, Technology, Engineering, and Math (STEM) models as well as continued growth of high-performing charter schools City-wide. -It also included strategic time investments to help a set of schools extend their school day in advance of universal Full School Day adoption. All Chicago Public Schools now have a seven-hour school day. 823258 Talent and Leadership - The Fund supported investments in high-quality principals and teachers, growing the number of highly-effective educator teams in Chicago, and ensuring they are in the schools where they are needed the most. In 2012, this included work to:-Advocate for high standards and aligned accountability systems, supporting CPS in the creation and implementation of rigorous and effective school, principal, and teacher evaluation systems. This included helping to launch REACH, the new CPS teacher evaluation system, working with the district to modify the existing principal evaluation system, and assisting in the design of a new school accountability framework. The evaluation systems were rolled out District-wide in 2012, and the accountability framework will be adopted in 2013.-Champion great teachers and principals as critical to school success, supporting recruitment, training, retention, and recognition efforts for great teachers and principals. This included ensuring that the Chicago Executive Leadership Academy, a pioneering effort to create in Chicago the nation's first district-based academy for school chiefs, was adopted as a priority for CPS. This program now allows for the recruitment, development and mentoring of new chiefs, deputy chiefs, and principals within Chicago Public Schools. -Serve as a fiscal agent in the administration of Principal Bonuses to more than 80 principals in traditional and charter public schools. 102194 Other Program Services 102194 3724713 1 1 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 85 0 1 11 1 0 0 0 0 0 0 0 0 0 0 X 18 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X Arnaldo Rivera 3125584500 200 West Adams Ste 2150 Chicago IL 606065230 Heather Y Anichini 40.00 X X 188696 0 7775 Brian P Simmons 4.00 X X 0 0 0 Kenneth C Griffin 3.00 X X 0 0 0 Helen H Zell 3.00 X X 0 0 0 Jana R Schreuder 3.00 X X 0 0 0 Barbara Malott Kizziah 3.00 X X 0 0 0 Susan Crown 1.00 X 0 0 0 Stephen A Cruise 1.00 X 0 0 0 Jill M Garling 2.00 X 0 0 0 J Erik Fyrwald 1.00 X 0 0 0 Mellody Hobson 2.00 X 0 0 0 Timothy Knowles 1.00 X 0 0 0 Siddharth Mehta 2.00 X 0 0 0 Deborah Quazzo 1.00 X 0 0 0 Bruce V Rauner 1.00 X 0 0 0 Edward B Rust Jr 1.00 X 0 0 0 Ralph W Rydholm 1.00 X 0 0 0 Timothy R Schwertfeger 1.00 X 0 0 0 Penny Bender Sebring 1.00 X 0 0 0 Scott C Smith 2.00 X 0 0 0 Julia Mellow 20.00 X 61702 0 0 Patrick Haugh 40.00 X 178385 0 7148 Tracy Dell'Angela 40.00 X 164245 0 6832 Benjamin Kutylo 40.00 X 134578 0 5428 727606 0 27183 4 0 1 0 McKinsey & Company Inc PO Box 7247-7255 Philadelphia PA 19170 CPS strategic support 1250000 The SUPES Academy 1215 Washington Ave Ste 300 Wilmette IL 60091 CPS Chiefs Academy 280000 The Parthenon Group 24 State St Boston MA 02109 CPS schools analysis 232000 Global Strategy Group 895 Broadway 5th Floor New York NY 10003 Market research 127125 Theobald Associates 3400 Wells Way Joliet IL 60431 CFO contract services 110522 6 439199 439199 5829 5829 280383 279267 1116 1116 1116 446144 0 0 6945 X 741277 607847 111192 22238 287633 235860 43144 8629 40562 33261 6084 1217 65615 53805 9842 1968 67385 55255 10108 2022 36394 5459 30935 152085 22813 121668 7604 2435095 2345103 89992 36360 26816 6823 2721 50949 43298 5545 2106 103187 85645 12382 5160 154593 128312 18551 7730 35853 32598 3255 1403 1403 56913 47238 6830 2845 2323 2323 4267627 3724713 478674 64240 1797890 456633 7561474 7080307 1832513 219086 9637 7873 372588 344428 73932 28160 4596 4596 11280042 7796655 77805 42494 31000 544000 151924 10795 260729 597289 X 9874298 7000123 1145015 199243 11019313 7199366 11280042 7796655 -3821483 1536 0 X 0 1 X 1 0 X 16401706 708951 2083591 406124 439199 20039571 16401706 708951 2083591 406124 439199 20039571 8832065 11207506 144939 122508 40472 9311 5829 323059 20362630 0.55040 0.54590 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4267627 4267627 363381 90845 0 0 386046 322610 314948 363381 1386985 2080478 500 500 96512 80653 78737 90845 346747 520121 0 1 X 121341 117296 4045 251247 227132 24115 28160 Deferred Rent 10795 10795 X 447680 1536 1536 446144 0 446144 4267627 0 4267627 0 4267627 Part IV, Line 2b: The Fund is acting as a fiscal agent for Chicago Public Schools (CPS) in connection with the CPS principal bonus plan which began in 2012. Under this agreement, The Fund has agreed to accept payment of pledges from various donors secured by CPS, and to process payments to school principals, as directed by CPS, for each of the four calendar years from 2012 through 2015. During 2012, $1,114,000 in pledge payments was collected and recorded to the statement of financial position as a liability. A total of $570,000 was disbursed during 2012 for principal bonus payments, reducing the recorded liability and leaving a remaining balance of $544,000 to be disbursed under this agreement in future years. Description of Uncertain Tax Positions Under FIN 48: Part X, Line 2: The Fund is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code and similar statutes of Illinois law. In addition, The Fund qualifies for the charitable contribution deduction under Section 170(b)(1)(A) and has been classified as an organization that is not a private foundation under Section 509(a)(2). The accounting standard on accounting for uncertainty in income taxes addressed the determination of whether tax benefits claimed on a tax return should be recorded in the financial statements. Under this guidance, The Fund may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of The Fund and the various positions related to the potential sources of unrelated business taxable income (UBTI). The tax benefits recognized in the financial statement from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. The Fund does not believe that there are any unrecognized tax benefits or tax liabilities that should be recorded for the reporting periods presented in these financial statements. The Fund is generally no longer subject to examination by the Internal Revenue Service for years before 2009. X X X 0 0 0 0 0 0 0 0 0 Heather Y Anichini 153696 0 35000 0 0 0 7775 0 0 0 196471 0 0 0 Patrick Haugh 131935 0 46450 0 0 0 7148 0 0 0 185533 0 0 0 Tracy Dell'Angela 119945 0 44300 0 0 0 6832 0 0 0 171077 0 0 0 Form 990, Part VI, Section B, line 11 Once the Form 990 has been completed and reviewed by the CFO, it is subject to a further review by the President and CEO. Once that step is completed, the final form is emailed to the Operations, Finance, and Audit Committee, as well as to the entire Board of Directors, for their review and comments prior to the return being filed with the IRS. Form 990, Part VI, Section B, line 12c Each year, officers, directors, and key employees complete a questionnaire to disclose any business transactions or relationships he/she or a family member may have had with the fund or any of its officers, directors, or key employees. Responses are reviewed and, when necessary, referred to the executive committee for their consideration. In addition to the annual conflict of interest questionnaire required to be completed by all Board members and key employees at year-end, The Fund's Board of Directors' policy covering conflicts of interest provides that Directors and staff have the responsibility to immediately disclose potential conflicts of interest and refrain from influencing other directors or staff in relation to those matters. If a potential or actual conflict arises, directors also have the responsibility to recuse themselves at an appropriate time. Directors, staff and their immediate family members cannot realize any direct or indirect personal financial benefit from a Fund investment. Form 990, Part VI, Section B, line 15 The Executive Committee of the Board is responsible for reviewing and approving the compensation package for the President and CEO. The determination of the appropriate level of compensation included a review of compensation levels for the equivalent positions at comparable organizations. For other staff salaries, a survey of compensation levels at comparable organizations was conducted by the CEO, and her recommendations for salary adjustments were reviewed by the Operations, Finance and Audit Committee in conjunction with the annual budget planning process, and subsequently approved by the Executive Committee of the Board. The process for determining the compensation is documented. Form 990, Part VI, Section C, line 19 The organization discloses its governing documents, conflict of interest policy and financial statements for public inspection upon request. Other Fees Form 990, Part IX, line 11g Consultants for Operational Activities: Program service expenses 2,345,103. Management and general expenses 89,992. Fundraising expenses 0. Total expenses 2,435,095.