Better Business Bureau Report for
Chicago State University Foundation

Better Business Bureau Report issued September 2013
Better Business Bureau Report expires September 2015


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Chicago State University Foundation
Address: 9501 S. King Drive
Cook Administration Building/322
  Chicago, IL 60628-1598
Phone: 773-995-3839
Web Address: www.csu.edu/foundation
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Better Business Bureau Comments

Year, State Incorporated: 1968, Illinois
Affiliates: None
Stated Purpose: The Chicago State University Foundation was chartered in 1967 and incorporated in 1968 as an independent, charitable organization with the sole purpose of soliciting, receiving, and administering private gifts to the Chicago State University. The mission of the CSU Foundation is to raise funds from individuals, foundations and corporations focusing on the areas of technology, scholarly research, student scholarships, and facilities.

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Evaluation Conclusions

              

Chicago State University Foundation does not meet the following 2 Standards for Charity Accountability.

Standard 12: Detailed Functional Breakdown of Expenses - Include in the financial statements a breakdown of expenses (e.g., salaries, travel, postage, etc.) that shows what portion of these expenses was allocated to program, fund raising, and administrative activities. If the charity has more than one major program category, the schedule should provide a breakdown for each category.

Chicago State University Foundation does not meet this Standard because, in the organization's financial statements, the detailed functional breakdown of expenses:

  • Was not included. A detailed functional breakdown shows expenses by natural classification (e.g., salaries, travel, postage, etc.) and indicates what portion of these expenses was allocated to program, fund raising, and administrative activities).

Standard 16: Annual Report - Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.

Chicago State University Foundation does not meet this standard because:

  • The organization states it does not have an annual report covering activities conducted in the past year.
In addition, the BBB of Chicago & Northern Illinois requested but did not receive complete information on the organization’s governance and oversight, finances, and donor privacy and is unable to verify the organization's compliance with the following 4Standards for Charity Accountability: 3, 8, 9, and 18.
Chicago State University Foundation meets the remaining 14 Standards for Charity Accountability.
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Programs

              

The CSU Foundation is the private fundraising office of Chicago State University. The Foundation organizes and manages the Annual Fund, the spring Arthur Stephens Scholarship Walk/Run, CSU faculty & staff holiday party, the CSU Golf Outing and the Friends of CSU Gala.

For the fiscal year ended June 30, 2012, Chicago State University Foundation's program expenses were:

  
Program funds 327,440
Scholarships 142,645
Donations to CSU Departments & Colleges 106,199
Total Program Expenses: $576,284
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Governance

              

Chief Executive : Mr. Katéy Assem, Executive Director
Compensation*: 

Chair of the Board: Maurice Grant, Chairman, Board of Directors
Chair's Profession / Business Affiliation: Partner, Grant Schumann, LLC, Attorney-at-law

Board Size: 23

Paid Staff Size: 7

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

direct mail, telephone, invitations to fund raising events, print advertisements, grant proposals, internet, planned giving arrangements
Fund raising costs were 53% of related contributions. (Related contributions, which totaled $798,359, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Chicago State University Foundation's audited financial statements for the fiscal year ended June 30, 2012.

Source of Funds  
CSU Support 424,730
Contributions 387,946
Other operating revenues 150,256
Investment Income 92,667
Endowment contributions 1,192
Bad debt expense -4,243
In-kinds CSU -15,509
Total Income $1,037,039


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Uses of Funds as a % of Total Expenses

Programs: 51%  Fund Raising: 37%  Administrative: 12% 

Total income $1,037,039
Program expenses $576,284
Fund raising expenses 424,730
Administrative expenses 135,318
Total expenses $1,136,332
Expenses in Excess of Income (99,293)
Beginning net assets 4,611,847
Ending net assets 4,512,554
Total liabilities 679,162
Total assets $5,191,716


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

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