The CBF is committed to efficiently and effectively managing our resources in order to maximize our impact in the community. The CBF Board of Directors is assisted in these efforts by two committees that include members from the board and other outside financial experts.

The CBF Finance and Audit Committee is primarily responsible for overseeing and monitoring the CBF’s annual budget and finances; the CBF’s annual audit, tax returns and other required state and federal filings; and the CBF’s fiscal policies.

The CBF Investment Committee oversees and monitors the CBF’s investment portfolio pursuant to a comprehensive Investment Policy approved by the CBF Board. The Committee is comprised of board members and others in the community with significant expertise on investment and financial matters, and the Committee receives strategic guidance from the CBF’s expert consultants and advisors at Credit Suisse and Northern Trust.

The CBF is audited annually by the respected firm of McGladrey & Pullen. The CBF’s audits and 990 tax returns for the past three years are available below. Copies of the CBF’s tax-exempt certifications from the federal and state government are available below as well.

The CBF’s financial statements for the last two fiscal years reflect significant changes in revenue, expenses and net assets that were primarily due to two major factors. First, in our FY 2007 we received a $2 million cy pres award that was committed to endow a new, long-term fellowship program along with another $200,000 cy pres award restricted for particular purposes. Second, more than $900,000 in funds raised in our 1st annual Investing in Justice Campaign were raised in FY 07 but not distributed as grants until our FY 08, distorting both our revenues and expenses for those years. Multi-year grant commitments also increased in our FY 08.

For more information on the CBF’s financial and tax policies and practices, contact CBF Executive Director Bob Glaves at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 312-554-1205.


Fiscal Year 2008
Form 990
Financial Report

Fiscal Year 2007
Form 990
Financial Report

Fiscal Year 2006
Form 990
Financial Report

Federal Tax Exemption Letter

State Tax Exemption Letter