Big Shoulders Fund in Chicago, Illinois (IL)

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Big Shoulders Fund
Employer Identification Number (EIN)363490557
Name of OrganizationBig Shoulders Fund
Address212 W Van Buren St Ste 900, Chicago, IL 60607-3974
ActivitiesScholarships (other)
SubsectionCharitable Organization
Ruling Date03/1987
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2013
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$62,088,469
Amount of Income$25,740,743
Form 990 Revenue Amount$21,232,145
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Fund Raising and/or Fund Distribution


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Amount of income in 2013: $25,740,743
This organization: 

 $25,740,743
Other organizations performing similar types of work: 

 $86,203

Assets in 2013: $62,088,469
Big Shoulders Fund: 

 $62,088,469
Other organizations performing similar types of work: 

 $53,182

Expenses in 2013: $13,352,161
Big Shoulders Fund: 

 $13,352,161
Other organizations performing similar types of work: 

 $53,420

Income to expenses ratio in 2013: 1.9
This organization: 

 1.9
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 91.0%
Big Shoulders Fund: 

 91.0%
Other organizations performing similar types of work: 

 92.5%

Employees paid over $100,000 in 2013: 20.0%
This organization: 

 20.0%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 100.1%
This organization: 

 100.1%
Other organizations performing similar types of work: 

 12.0%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoYes
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYes
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?YesYes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?NoNo
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?YesYes
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?YesNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesYes
Did the organization report more than $15,000 of gross income from gaming activities?YesYes
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?YesYes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoYes
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 10962341
The number of Forms W-2G11
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return1420
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNo
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYes
Did the organization notify the donor of the value of the goods or services provided?YesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$412,908$528,173
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$26,154$62,086
Total number of individuals who received more than $100,000 of reportable compensation from the organization22
Total number of independent contractors who received more than $100,000 of compensation from the organization02
Statement of Revenue
201120122013
Total revenue$10,596,684$19,827,253$21,232,145
Contributions, Gifts, Grants and Other Similar Amounts$11,513,475$18,842,721$21,260,590
Program Service Revenue$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$246,044$203,738$458,432
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$0$0$0
Net gain/loss from sales of assets other than inventory$-297,386$1,853,091$193,132
Gross amount from sales of assets other than inventory (Securities / Other)$8,650,299 / $0$11,291,534 / $0$4,285,208 / $0
Less: cost or other basis and sales expenses (Securities / Other)$8,947,685 / $0$9,438,443 / $0$4,092,076 / $0
Gain or (loss) (Securities / Other)$-297,386 / $0$1,853,091 / $0$193,132 / $0
Net income/loss from fundraising events$-47,862$-388,171$52,485
Gross income from fundraising events$299,887$453,829$448,035
Less: direct expenses$347,749$842,000$395,550
Net income/loss from gaming activities$20,296$46,025$38,648
Gross income from gaming activities$36,505$72,665$59,620
Less: direct expenses$16,209$26,640$20,972
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$-837,883$-730,151$-771,142
900099$-730,151$-771,142
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$13,134,423$11,403,749$13,352,161
Grants and other assistance to domestic organizations and domestic governments$5,846,614$5,894,787
Grants and other assistance to domestic individuals$4,047,300$5,700,093
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$313,522$345,293$496,557
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$738,631$865,435$874,773
Pension plan accruals and contributions$27,793$27,229
Other employee benefits$80,452$76,638
Payroll taxes$65,954$75,548$84,791
Fees for services (non-employees)
Management$0$0
Legal$0$0
Accounting$35,900$38,600
Lobbying$0$0
Professional fundraising services$0$55,000$0
Investment management fees$59,136$50,000
Other$259,424$199,427
Advertising and promotion$27,040$39,722
Office expenses$216,145$155,515
Information technology$44,215$37,067
Royalties$0$0
Occupancy$73,953$65,923
Travel$104,120$128,936
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$2,620$5,525
Interest$0$0
Payments to affiliates$0$0
Depreciation, depletion, and amortization$36,440$58,518
Insurance$7,917$8,511
Other expenses$23,334$24,718
Other expenses$81,801$99,356
Other expenses$-911,731$-714,525
Balance Sheet
201120122013
Total assets$46,837,453$51,673,132$62,088,469
Cash - non-interest-bearing$25,161$28,247
Savings and temporary cash investments$6,583,006$8,013,523
Pledges and grants receivable, net$8,890,484$15,773,257
Accounts receivable, net$0$0
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$261,610$34,645
Land, buildings, and equipment: cost or other basis$371,780$347,135
Investments - publicly traded securities$3,258,821$6,385,525
Investments - other securities$32,270,173$31,472,918
Investments - program-related$0$0
Intangible assets$0$0
Other assets$12,097$33,219
Total liabilities$4,119,498$3,052,521$2,029,088
Accounts payable and accrued expenses$150,855$189,387
Grants payable$2,727,266$1,642,401
Deferred revenue$174,400$192,300
Tax-exempt bond liabilities$0$0$0
Escrow or custodial account liability$0$5,000
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$0$0
Total net assets or fund balances$42,717,955$48,620,611$60,059,381
Unrestricted net assets$23,189,820$24,683,234
Temporarily restricted net assets$20,126,034$29,741,390
Permanently restricted net assets$5,304,757$5,634,757
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$58,672,310
Subtotal Support$73,604,318
Gifts, grants, contributions, and membership fees received$73,604,318
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$14,932,008
Total Support$75,609,630
Public Support$73,604,318
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$1,802,064
Net income from unrelated business activities, whether or not the business is regularly carried on$200,408
Other income. Do not include gain or loss from the sale of capital assets$2,840
Gross receipts from related activities, etc.$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$14,351,809$4,006,188$1,605,635$6,757,657$10,512,529$9,616,160$11,213,625$14,492,614
Contributions, gifts, grants, and similar amounts received$10,472,906$3,625,340$2,091,568$7,159,407$6,484,443$8,781,465$9,657,457$12,492,401
Contributions to donor advised funds$0$0
Direct public support$10,472,906$3,625,340$2,091,568$7,159,407$6,484,443$8,781,465$9,654,563$12,487,551
Indirect public support$0$0$0$0$0$0$2,894$4,850
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$524,050$146,709$26,979$97,159$204,371$368,731$452,689$304,666
Dividends and interest from securities$1,139,339$687,095$527,878$512,950$632,077$1,277,406$1,648,956$570,571
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$2,215,514$-461,120$-1,182,795$946,569$4,486,280$-19,259$122,708$2,228,183
Gross amount from sales of assets other than inventory$26,005,685$24,875,583$22,740,771$18,906,825$41,557,195$2,120,773$2,950,986$9,336,079
Less: cost or other basis and sales expenses$23,790,171$25,336,703$23,923,566$17,960,256$37,070,915$2,140,032$2,828,278$7,107,896
Net income or (loss) from special events and activities$0$8,164$142,005$54,928$22,210$50,695$384$120,046
Gross revenue$0$61,300$306,949$236,036$181,842$192,762$176,326$351,948
Less: direct expenses other than fundraising expenses$0$53,136$164,944$181,108$159,623$142,067$175,942$231,902
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$0$0$-2,013,356$-1,316,852$-842,878$-668,569$-1,223,253
Total expenses$18,529,247$6,617,506$3,712,435$4,181,819$5,515,263$6,763,293$8,440,163$10,867,235
Program services$17,386,462$6,128,249$3,398,110$3,774,763$4,977,112$6,102,878$7,599,028$9,891,403
Management and general$1,142,785$398,946$179,331$258,076$310,596$337,155$512,106$595,459
Fundraising$0$90,311$134,994$148,980$227,555$323,260$329,029$380,373
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$36,687,382$31,780,762$30,965,612$36,034,322$38,029,126$42,920,323$50,164,350$48,234,771
Excess or (deficit) for the year$-4,177,438$-2,611,318$-2,106,800$2,575,838$4,997,266$2,852,867$2,773,462$3,625,379
Net assets or fund balances at beginning of year$49,859,024$36,687,379$31,780,762$30,965,612$36,034,322$38,029,126$42,920,323$50,164,350
Other changes in net assets or fund balances$-8,994,204$-2,295,299$1,291,650$2,492,872$-3,002,462$2,038,330$4,470,565$-5,554,958
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$10,867,235$9,891,403$595,459$380,373
Grants paid from donor advised funds$0
Other grants and allocations$9,448,846
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$152,829$59,869$29,936$63,024
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$452,920$222,690$173,214$57,016
Pension plan contributions not included above$10,859$5,634$3,337$1,888
Employee benefits not included above$31,528$18,758$8,943$3,827
Payroll taxes$46,230$21,751$15,728$8,751
Professional fundraising fees$45,000$0$0$45,000
Accounting fees$28,620$0$28,620$0
Legal fees$4,653$0$4,653$0
Supplies$31,739$3,737$2,624$25,378
Telephone$9,758$2,945$2,993$3,820
Postage and shipping$20,746$2,598$2,598$15,550
Occupancy$65,632$29,045$21,001$15,586
Equipment rental and maintenance$41,244$15,407$6,633$19,204
Printing and publications$52,405$10,268$7,790$34,347
Travel$36,037$16,990$13,885$5,162
Conferences, conventions, and meetings$2,416$175$1,966$275
Interest$0$0$0$0
Depreciation, depletion, etc.$11,562$0$5,761$5,801
Other expenses not covered above$374,211$32,690$265,777$75,744
Balance Sheets
20002001200220032004200520062007
Total assets$61,752,699$59,494,791$52,895,753$53,887,137$48,376,572$50,224,161$57,080,181$53,396,821
Cash - non-interest-bearing$9,909,385$140,420$80,738$23,783$84,504$30,753$1,187,722$34,453
Savings and temporary cash investments$0$12,624,520$12,650,120$13,975,355$9,187,969$7,658,610$8,319,887$9,511,421
Accounts receivable less allowance for doubtful accounts$0$4,900$0$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$23,038,687$21,317,660$15,158,989$12,728,729$10,802,824$8,455,254$7,224,489$6,062,259
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$6,055
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$31,033$28,746$35,006$0$13,226$2,031$954
Investments - publicly-traded securities$15,825,963$15,018,661
Investments - other securities$28,804,627$25,362,858$24,966,738$27,083,762$28,255,353$34,031,822$24,469,543$22,715,386
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$13,400$10,422$40,502$42,079$30,172$45,679$45,027
Other assets, including program-related investments$0$0$0$0$3,843$4,324$4,867$2,605
Total liabilities$25,065,317$27,714,029$21,930,141$17,852,815$10,347,446$7,303,838$6,915,831$5,162,050
Accounts payable and accrued expenses$0$305,942$79,833$132,479$175,482$98,175$63,114$58,531
Grants payable$25,065,317$27,221,992$21,582,403$17,559,920$9,976,774$7,100,438$6,655,332$4,833,624
Deferred revenue$0$172,600$257,500$152,950$190,750$105,225$197,385$269,895
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$13,495$10,405$7,466$4,440$0$0$0
Other liabilities$0$0$0$0$0$0$0$0
Total liabilities and net assets/fund balances$61,752,699$59,494,791$52,895,753$53,887,137$48,376,572$50,224,161$57,080,181$53,396,821
Total net assets or fund balances$36,687,382$31,780,762$30,965,612$36,034,322$38,029,126$42,920,323$50,164,350$48,234,771
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$14,351,809$4,006,188$1,605,635$6,757,657$10,512,529$9,616,160$11,213,625$14,492,614
Total revenue, gains, and other support per audited financial statements$5,357,605$1,648,850$2,842,974$8,263,169$7,380,947$11,515,528$15,523,632$8,657,467
Other expenses$-8,994,204$-2,295,299$1,291,650$1,574,870$-3,002,462$2,038,330$4,470,565$-5,554,958
Net unrealized gains on investments$-8,994,204$-2,295,299$1,291,650$1,574,870$-3,002,462$2,038,330$4,470,565$-5,554,958
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other revenue$0$62,039$54,311$69,358$129,120$138,962$160,558$280,189
Investment expenses$0$62,039$54,311$60,013$117,466$133,406$147,361$141,549
Other$0$0$0$9,345$11,654$5,556$13,197$138,640
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$18,529,247$6,617,506$3,712,435$4,181,819$5,515,263$6,763,293$8,440,163$10,867,235
Total expenses and losses per audited financial statements$18,529,247$6,555,467$3,658,124$4,112,461$5,386,143$6,624,331$8,279,605$10,587,046
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$0$62,039$54,311$69,358$129,120$138,962$160,558$280,189
Investment expenses$0$62,039$54,311$60,013$117,466$133,406$147,361$141,549
Other$0$0$0$9,345$11,654$5,556$13,197$138,640
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
70$136,263$10,628$2,783
25$1,250$0$1,905
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings149
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?Yes
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20069
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$3,700$3,219,766$-1,223,253
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$304,666$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$570,571$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventorySecurities, commodity contracts, and other financial investments and related activities$3,700Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$2,224,483$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$120,046$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$-1,223,253
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$76,901$12,425$36
$70,318$3,624$685
$74,174$5,710$288
$79,982$9,120$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$2
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$504,715
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$12,396,742$13,081,868
Gifts, grants, and contributions received$0$0$0$0$0$0$10,786,412$10,888,222
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$1,645,160$2,101,102
Net income from unrelated business activities not included above$0$0$0$0$0$0$-34,830$92,544
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Western Carolina University Research & Development CorporationHfr Administration Bldg Ste 312, Cullowhee, NC 28723NC2002-08$3,575,122
2Kemmerer Village Foundation Inc941 N 2500 East Rd, Assumption, IL 62510-8026IL2009-08$963,053
3Quincy Catholic Elementary Schools Foundation2223 Saint Anthony Rd, Quincy, IL 62305-0460IL2009-10$284,821
4Field Park Parent Teacher Organization4335 Howard Ave, Western Springs, IL 60558IL2011-06$218,516
5Teutopolis Sportsbackers ClubPO BOX 511, Teutopolis, IL 62467IL2011-02$93,371
6Woodland Educational Foundation1105 Hunt Club Road, Gurnee, IL 60031IL2008-01$62,718
7Niles Township High School Education Foundation For Excellenc7700 Gross Point Road, Skokie, IL 60077IL1999-03$56,049
8Sfjec Foundation200 W Madison St Fl 42, Chicago, IL 60606-3465IL2004-09$800
9Bannockburn School Foundation2165 Telegraph Rd, Bannockburn, IL 60015IL2005-06$0
10Columbia School District Foundation Inc5 Veterans Parkway, Columbia, IL 62236IL2014-07$0
11District 62 Education FoundationPO BOX 2161, Des Plaines, IL 60017IL2003-06$0
12Education Connection Inc6209 Giant Oaks Road, Wonder Lake, IL 60097IL2001-10$0
13Elementary School District 159 Education Foundation Inc1450 Aberdeen St, Chicago Hts, IL 60411-3413IL2003-09$0
14Friends Ofchicago Public Schools175 E Delaware Place 6612, Chicago, IL 60611IL2009-09$0
15Kendall Outdoor Education Foundation16 Blackhawk Springs Drive, Plano, IL 60545IL2007-02$0
16Laura G Tasky Memorial Scholarship Fund1520 Rosewood Ave, Deerfield, IL 60015-4770IL2004-01$0
17Lincoln-Way Area Special Education Joint Agreement Foundation601 Willow St, Frankfort, IL 60423IL2011-02$0
18Million Little Voices Productions Inc, Million Little Voices5842 N Kingsdale Ave, Chicago, IL 60646-6625IL2006-03$0
19Morton Junior High School Pto225 E Jackson St, Morton, IL 61550-1625IL2014-08$0
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Number of organizations performing similar types of work
Alaska2
Alabama9
Arkansas7
Arizona14
California131
Colorado23
Connecticut14
District of Columbia5
Delaware7
Florida31
Georgia22
Hawaii3
Iowa11
Idaho7
Illinois40
Indiana22
Kansas9
Kentucky9
Louisiana11
Massachusetts36
Maryland14
Maine7
Michigan31
Minnesota27
Missouri18
Mississippi4
Montana7
North Carolina27
North Dakota1
Nebraska5
New Hampshire6
New Jersey43
New Mexico3
Nevada2
New York77
Ohio45
Oklahoma15
Oregon19
Pennsylvania37
Rhode Island7
South Carolina13
South Dakota4
Tennessee11
Texas70
Utah7
Virginia20
Vermont4
Washington42
Wisconsin18
West Virginia1
Wyoming6
International1
Total1,005

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