Big Shoulders Fund is a 501(c)(3) nonprofit organization based in Chicago, Illinois, founded in 1986 by Cardinal Joseph Bernardin and a group of Chicago business and civic leaders. The organization provides financial support to Catholic schools with demonstrated need that offer quality, values-based education for Chicago's children and families in the surrounding region.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$150.1M
+10.9% YoY
Annual Giving
$15.1M
-11.0% YoY
Grant Count
78
+6.8% YoY
Avg Grant Size
$194K
-16.7% YoY
Mission & Focus Areas
Big Shoulders Fund's mission is to assist schools with demonstrated needs in the Chicagoland area and Northwest Indiana by investing in scholarship support, academic enrichment, operational improvements, leadership development, and professional development for teachers and school leaders.
The organization operates with a distinctive funding model: 100 percent of funds currently raised support programs that benefit schools and students, as administrative expenses are supported by an endowment and other income.
Grantmaking
Big Shoulders Fund supports schools through four major investment areas:
Grant Range
s & Distribution:**
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Geographic Focus
Where this funder awards grants
Big Shoulders Fund operates across:
- Chicago region (72 schools)
- Northwest Indiana (19 schools supported through fully funded charitable donations)
The organization serves 25,000 students across 92 schools in the Chicago region and Northwest Indiana combined.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (Fiscal Year 2024):
- Total assets: $150,134,830
- Total revenue: $84,776,624
- Total expenses: $75,889,009
- Net income: $8,887,615
- Total liabilities: $19.3 million
Annual Investment: The organization invests more than $40 million annually in scholarship support and academic enrichment for students, operational improvements for schools, leadership development programs, and academic programs and professional development for teachers.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $150,134,830 | $135,423,582 | $125,993,936 |
| Revenue | $84,776,624 | $65,677,021 | $62,883,883 |
| Expenses | $75,889,009 | $58,940,127 | $52,614,506 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $11,128,285 | $8,080,344 | $-9,239,954 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| James J OConnor | Co-Chairman (deceased 7/31/2023) | — | — |
| John Croghan | Vice Chairman | 1 | — |
| Kenneth J Velo | Co-Chairman | 25 | — |
| Kent Dauten | Co-Chairman | 15 | — |
| Arthur R Velasquez | Board of Trustees | 1 | — |
| Charles K Bobrinskoy | Board of Trustees | 1 | — |
| Cherryl Thomas | Board of Trustees | 1 | — |
| Christine E Kelly | Board of Trustees | 1 | — |
| Christopher Valenti | Board of Trustees | 1 | — |
| Daniel Doherty | Board of Trustees | 1 | — |
| David Dury | Board of Trustees | 1 | — |
| Dennis Fitzsimons | Board of Trustees | 1 | — |
| Elizabeth Cole | Board of Trustees | 1 | — |
| Gerald Beeson | Board of Trustees | 1 | — |
| Giancarlo Turano | Board of Trustees | 1 | — |
| Gregory Q Brown | Board of Trustees | 1 | — |
| James A Gordon | Board of Trustees | 1 | — |
| James Compton | Board of Trustees | 1 | — |
| James Hoeg | Board of Trustees | 1 | — |
| John A Canning Jr | Board of Trustees | 1 | — |
| John Schreiber | Board of Trustees | 1 | — |
| Kimberly Querrey | Board of Trustees | 1 | — |
| Larry Richman | Board of Trustees | 1 | — |
| Lee Henderson | Board of Trustees | 1 | — |
| Leigh-Anne Kazma | Board of Trustees | 1 | — |
| Mary Dempsey | Board of Trustees | 1 | — |
| Michael E Murphy | Board of Trustees (deceased October 22, 2023) | — | — |
| Stephen King | Board of Trustees | 1 | — |
| Tao Huang | Board of Trustees | 1 | — |
| Thomas E Lanctot | Board of Trustees | 1 | — |
| Thomas Reynolds III | Board of Trustees | 1 | — |
| Timothy Sullivan | Board of Trustees | 1 | — |
| William Devers | Board of Trustees | 1 | — |
| William T Lynch | Board of Trustees | 1 | — |
| Joshua Hale | President and Chief Executive Officer | 50 | $559,793 |
| Malcolm Douglas | Chief Financial Officer | 50 | $255,478 |
| Amelia Drozda | Chief Advancement & Development Officer | 50 | $194,671 |
| Rebecca Lindsay-Ryan | Chief Schools Officer | 50 | $279,482 |
| Daniel Bennett | Senior Director, Scholarships | 50 | $140,849 |
| Daniel Kozlowski | Managing Director, NWI | 50 | $153,412 |
| Danielle Robinson | Managing Director, School Operations and Patrons Program | 50 | $157,330 |
| Laura Nalley | Senior Director, People and Leadership | 50 | $153,090 |
| Thomas Zbierski | Director Emeritus, Scholarship Program & School Relations | 50 | $216,185 |
Recent News & Activity
Recent developments and announcements
The Dean and Barbara White Family Foundation made a record commitment to support Northwest Indiana schools
The Dean and Barbara White Family Foundation Commits Record ...Big Shoulders Fund received a $150 million donation for Catholic schools
BIG SHOULDERS FUND ANNOUNCES $1.65 MILLION INITIATIVE TO EXPAND ACCESS TO\Partnership with Valparaiso University to open more doors for future Indiana teachers
Valparaiso University and Big Shoulders Fund Open More Doors for ...Launched $1.65 million initiative to expand access to quality early childhood education in Englewood and Little Village
BIG SHOULDERS FUND ANNOUNCES $1.65 MILLION INITIATIVE TO EXPAND ACCESS TO\Received a grant from The Cigna Group Foundation in July 2025
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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