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Robert R McCormick Foundation
Also known as McCormick Foundation
Robert R McCormick Foundation reported $105.3 million in revenue and $114.6 million in expenses for calendar year 2024. Of every $100 it spent, $96.83 went to program services, $3.10 to management and general costs and $0.07 to fundraising. Its largest source of revenue was investment income: 83.8% of the total. The highest compensation it reported for one person was $868,623 (PRESIDENT & CHIEF EXECUTIVE OFFICER). 9 people received more than $100,000 in reportable compensation. Revenue rose 142% between 2020 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $115MFor context, the median across 1,001 covered philanthropy, voluntarism & grantmaking charities: $91.65 programs, $6.50 management, $1.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $105MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 96.8% | 90.2% |
| Management & general Part IX 25(C) ÷ 25(A) | 3.1% | 6.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.1% | 1.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.02 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 16.2% | 79.9% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 0.0% |
| Highest reported compensation Part VII-A, columns D–F | $868,623 | $325,675 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.76% | 1.56% |
| People paid over $100,000 Part VII, line 2 | 9 | 3 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 178.6 | 56.6 |
| Independent voting board members Part VI 1a–1b | 7 of 7 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseThe foundation makes grants to advance educational attainment and economic prosperity in local communities. The foundation works to improve early childhood education; augment investigative journalism and government accountability; and support military service members, veterans, and their families
To further its mission, the foundation supports charitable organizations across the chicago region in their fundraising efforts through sponsorships, table purchases, ticket purchases, and other donations to improve the organizations' sustainability and community impact
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CHIEF EXECUTIVE OFFICER Officer, 28.00 hrs/week | $566,311 | $242,705 | $59,607 | $868,623 |
| CIO & TREASURER Officer, 32.00 hrs/week | $462,758 | $115,689 | $54,913 | $633,360 |
| VP-STRATEGY, PLANNING & OPS./SEC. Officer, 24.00 hrs/week | $183,199 | $122,133 | $54,198 | $359,530 |
| VP-HUMAN RESOURCES Key employee, 24.00 hrs/week | $168,951 | $112,633 | $47,406 | $328,990 |
| DIRECTOR, EDUCATION PORTFOLIO Highest compensated employee, 40.00 hrs/week | $199,112 | $0 | $32,938 | $232,050 |
| DIRECTOR, SPECIAL INITIATIVES Highest compensated employee, 40.00 hrs/week | $191,986 | $0 | $38,027 | $230,013 |
| DIRECTOR, LITTLE VILLAGE PORTFOLIO Highest compensated employee, 40.00 hrs/week | $190,061 | $0 | $35,322 | $225,383 |
| DIRECTOR, ENGLEWOOD PORTFOLIO Highest compensated employee, 40.00 hrs/week | $185,933 | $0 | $39,260 | $225,193 |
9 people received more than $100,000 in reportable compensation from Robert R McCormick Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.9M (Part IX, line 5).
5 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b7 · 7 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 515
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| MONTICELLO ASSOCIATES INC Investment consulting services | $480,000 |
| THE NORTHERN TRUST COMPANY Custodian fees | $240,080 |
Individuals listed as contractors are left out. 3 contractors were paid more than $100,000 in all.
Private foundation grants it received
4 private foundations reported grants to Robert R McCormick Foundation totaling $6,481 on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Robert R McCormick Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Robert R McCormick Foundation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Robert R McCormick Foundation spent in 2024, $96.83 went to programs. The full breakdown, from its IRS Form 990:
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Questions people ask
How much of Robert R McCormick Foundation's spending goes to programs?
In calendar year 2024, Robert R McCormick Foundation reported that 96.8% of its $114.6 million in expenses went to program services, 3.1% to management and general and 0.1% to fundraising (Form 990, Part IX).
How much does Robert R McCormick Foundation pay its top executive?
The largest total compensation Robert R McCormick Foundation reported for one person in calendar year 2024 was $868,623, for the role of PRESIDENT & CHIEF EXECUTIVE OFFICER (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Robert R McCormick Foundation get its money?
Of $105.3 million in revenue in calendar year 2024, 16.2% came from contributions and grants and 0.0% from program service revenue (Form 990, Part VIII).
Is Robert R McCormick Foundation a registered charity?
The IRS lists EIN 36-3689171 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202543219349309464 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202443169349301314 · read the filing
- 2022: Form 990 for calendar year 2022, object 202313189349313396 · read the filing
- 2021: Form 990 for calendar year 2021, object 202203189349318730 · read the filing
- 2020: Form 990 for calendar year 2020, object 202113169349301301 · read the filing
All filings for EIN 36-3689171: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.