Elks National Foundation in Chicago, Illinois (IL)

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Elks National Foundation
Employer Identification Number (EIN)046038176
Name of OrganizationElks National Foundation
Address2750 N Lakeview Ave, Chicago, IL 60614-2256
ActivitiesSupplying money, goods or services to the poor
SubsectionCharitable Organization
Ruling Date10/1998
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period03/2009
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$411,655,023
Amount of Income$213,437,090
Form 990 Revenue Amount$7,511,238
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Public Foundations


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Amount of income in 2009: $213,437,090
This organization: 

 $213,437,090
Other organizations performing similar types of work: 

 $288,471

Assets in 2009: $411,655,023
Elks National Foundation: 

 $411,655,023
Other organizations performing similar types of work: 

 $696,286

Expenses in 2007: $16,493,853
Elks National Foundation: 

 $16,493,853
Other organizations performing similar types of work: 

 $244,182

Income to expenses ratio in 2007: 1.6
Elks National Foundation: 

 1.6
Other organizations performing similar types of work: 

 1.5

Expenses allocated to program services in 2007: 80.3%
This organization: 

 80.3%
Other organizations performing similar types of work: 

 92.4%

Employees paid over $50,000 in 2007: 30.8%
This organization: 

 30.8%
Other organizations performing similar types of work: 

 30.8%

Grants share in income in 2007: 24.6%
Elks National Foundation: 

 24.6%
Other organizations performing similar types of work: 

 66.6%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$32,456,336$14,755,149$6,468,179$20,777,287$24,289,688$54,071,871$51,303,592$25,918,931
Contributions, gifts, grants, and similar amounts received$6,169,042$6,883,808$5,302,227$6,038,344$6,077,948$6,800,398$7,813,267$6,364,611
Contributions to donor advised funds$0$0
Direct public support$5,719,042$6,583,808$5,297,168$6,038,344$6,077,948$6,800,398$7,663,267$6,364,611
Indirect public support$450,000$300,000$5,059$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$150,000$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$0$0$0$0$0$0$0$0
Dividends and interest from securities$15,324,265$14,604,413$12,902,880$12,843,293$13,795,171$16,253,797$16,797,433$17,969,508
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$128,739$141,722$120,138$135,939$221,777$389,162$430,608$309,624
Gain or (loss) from sales of assets other than inventory$10,834,290$-6,874,794$-11,857,066$1,759,711$4,194,792$30,628,514$26,262,284$1,275,188
Gross amount from sales of assets other than inventory$143,178,173$143,633,328$115,902,834$111,522,124$132,853,133$377,925,839$290,069,173$286,242,873
Less: cost or other basis and sales expenses$132,343,883$150,508,122$127,759,900$109,762,413$128,658,341$347,297,325$263,806,889$284,967,685
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
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$0$0$0$0$0
Total expenses$14,255,180$14,636,141$15,980,290$15,221,347$15,428,947$21,769,051$15,787,825$16,493,853
Program services$12,179,954$12,769,554$14,030,065$13,005,464$13,160,072$18,683,322$12,497,964$13,239,857
Management and general$2,075,226$1,866,587$1,950,225$1,882,181$1,860,983$2,573,575$2,676,580$2,573,744
Fundraising$0$0$0$333,702$407,892$512,154$613,281$680,252
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$379,016,362$376,763,144$337,019,748$398,141,651$406,556,336$430,710,973$470,584,913$459,064,870
Excess or (deficit) for the year$18,201,156$119,008$-9,512,111$5,555,940$8,860,741$32,302,820$35,515,767$9,425,078
Net assets or fund balances at beginning of year$396,791,797$379,016,362$376,763,144$337,019,748$398,141,651$406,556,336$430,710,973$470,584,913
Other changes in net assets or fund balances$-35,976,591$-2,372,226$-30,231,285$55,565,963$-446,056$-8,148,183$4,358,173$-20,945,121
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$16,493,853$13,239,857$2,573,744$680,252
Grants paid from donor advised funds$0
Other grants and allocations$11,584,990
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$97,413$0$97,413$0
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$642,365$200,325$251,272$190,768
Pension plan contributions not included above$19,033$-996$13,353$6,676
Employee benefits not included above$220,057$56,714$107,079$56,264
Payroll taxes$59,594$16,391$28,199$15,004
Professional fundraising fees$0$0$0$0
Accounting fees$50,631$0$50,631$0
Legal fees$1,128$0$1,128$0
Supplies$88,226$7,062$70,955$10,209
Telephone$14,399$6,527$6,298$1,574
Postage and shipping$227,453$128,194$19,431$79,828
Occupancy$153,600$7,600$116,800$29,200
Equipment rental and maintenance$9,576$2,746$5,464$1,366
Printing and publications$658,708$393,517$23,418$241,773
Travel$33,051$22,462$10,589$0
Conferences, conventions, and meetings$70,052$41,588$28,464$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$2,563,577$772,737$1,743,250$47,590
Balance Sheets
20002001200220032004200520062007
Total assets$383,114,056$381,097,040$341,468,268$402,725,075$490,268,446$605,983,766$633,863,993$658,240,148
Cash - non-interest-bearing$0$0$0$0$0$0$0$0
Savings and temporary cash investments$19,760,121$26,974,007$20,312,541$12,217,489$13,447,964$13,067,778$17,517,641$21,779,310
Accounts receivable less allowance for doubtful accounts$458,301$491,252$903,604$1,234,914$1,444,246$745,096$1,966,578$1,865,000
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
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$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$0$0
Investments - publicly-traded securities$457,094,304$441,313,778
Investments - other securities$362,826,504$353,543,255$320,163,597$389,154,146$396,272,895$422,260,517$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$69,130$88,526$88,526$88,526$79,103,341$168,020,301$155,179,157$191,076,919
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Other assets, including program-related investments$0$0$0$30,000$0$1,890,074$2,106,313$2,205,141
Total liabilities$4,097,694$4,333,896$4,448,520$4,583,424$83,712,110$175,272,793$163,279,080$199,175,278
Accounts payable and accrued expenses$108,014$168,411$200,470$288,909$409,932$640,631$1,455,980$1,201,278
Grants payable$3,989,680$4,165,485$4,248,050$4,294,515$4,298,880$6,711,904$6,743,986$6,997,124
Deferred revenue$0$0$0$0$0$0$0$0
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$0$0$0$0$0$0$0
Other liabilities$0$0$0$0$79,003,298$167,920,258$155,079,114$190,976,876
Total liabilities and net assets/fund balances$383,114,056$381,097,040$341,468,268$402,725,075$490,268,446$605,983,766$633,863,993$658,240,148
Total net assets or fund balances$379,016,362$376,763,144$337,019,748$398,141,651$406,556,336$430,710,973$470,584,913$459,064,870
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$32,456,336$14,755,149$6,468,179$20,777,287$24,289,688$54,071,871$51,303,592$25,918,931
Total revenue, gains, and other support per audited financial statements$-4,645,771$11,670,378$-24,550,455$75,501,652$22,573,775$40,388,463$54,330,765$3,467,525
Other expenses$-36,083,241$-2,142,175$-30,116,661$55,700,867$-741,377$-11,412,749$4,358,173$-20,945,121
Net unrealized gains on investments$-35,673,543$-2,175,126$-30,529,013$55,369,557$-530,000$-11,412,749$4,358,173$-20,945,121
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$0
Other$-409,698$32,951$412,352$331,310$-211,377$0$0$0
Other revenue$1,018,866$942,596$901,973$976,502$974,536$2,270,659$1,331,000$1,506,285
Investment expenses$1,018,866$942,596$901,973$976,502$974,536$1,247,122$1,331,000$1,506,285
Other$0$0$0$0$0$1,023,537$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$14,255,180$14,636,141$15,980,290$15,221,347$15,428,947$21,769,051$15,787,825$16,493,853
Total expenses and losses per audited financial statements$13,129,664$13,923,596$15,192,941$14,379,749$14,159,090$16,233,826$14,456,825$14,987,568
Other revenue$-106,650$230,051$114,624$134,904$-295,321$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$0
Other$-106,650$230,051$114,624$134,904$-295,321$0$0$0
Other expenses$1,018,866$942,596$901,973$976,502$974,536$5,535,225$1,331,000$1,506,285
Investment expenses$1,018,866$942,593$901,973$976,502$974,536$1,247,122$1,331,000$1,506,285
Other$0$0$0$0$0$4,288,103$0$0
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
40$97,413$4,815$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings7
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?No
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?No
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?Yes
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, 200613
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$19,554,320$0
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$000$0$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)$17,969,508$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$0Royalty income excluded by section 512(b)(2)$309,624$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (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))$1,275,188$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
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
$56,008$2,222$0
$53,953$2,622$0
$55,374$2,741$0
$0$0$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$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
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$21,097,399$21,622,046$21,629,943$18,325,245$19,017,576$20,094,896$20,808,187$23,603,587
Gifts, grants, and contributions received$6,470,136$6,169,042$6,883,808$5,302,227$6,038,344$6,077,948$6,055,302$6,591,785
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$14,627,263$15,453,004$14,746,135$13,023,018$12,979,232$14,016,948$14,752,885$17,011,802
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
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
1Elks National Foundation2750 N Lakeview Ave, Chicago, IL 60614-2256IL1998-10$213,437,090
2Franciscan Sisters Of Chicago Service Corporation11500 Theresa Dr, Lemont, IL 60439-2727IL1989-11$14,366,519
3Travis Manion Foundation164 E State St, Doylestown, PA 18901-4313PA2008-05$2,509,255
4Social Venture Partners Rhodeisland460 Harris Ave Unit 303, Providence, RI 02909-1089RI2008-05$557,900
5The Center For Life Specific DesignPO BOX 3360, Park City, UT 84060-3360UT2006-03$315,315
6United Cerebral Palsy Of Tampa Bay Foundation Inc2215 E Henry Ave, Tampa, FL 33610-4432FL2004-09$168,784
7Skaneateles Area Chamber Of Commerce Foundation Inc22 Jordan Street, Skaneateles, NY 13152NY2009-08$152,431
8Velocity Entreprenurial Drive181 Blue Ravine Road No 120, Folsom, CA 95630CA2008-09$139,314
9William Friede Tr1030 - 10th Ct, Reedsburg, WI 53959WI2000-05$109,548
10The Silver Fox Foundation IncPO BOX 352, Silverton, OR 97381-0352OR1993-08$88,603
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14White County Remc Community Fund IncPO BOX 599, Monticello, IN 47960-0599IN2003-02$52,353
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18Mr Charity Foundation7609 Heatherstone Ln, Plainfield, IL 60586-5367IL2009-08$0
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Number of organizations performing similar types of work
California18
Colorado2
Connecticut1
District of Columbia1
Delaware1
Florida7
Georgia4
Idaho1
Illinois5
Indiana1
Kansas1
Kentucky1
Massachusetts1
Maryland1
Maine3
Michigan3
Minnesota1
Missouri1
Montana1
New Hampshire1
New Jersey3
New Mexico1
New York14
Ohio2
Oklahoma1
Oregon2
Pennsylvania9
Rhode Island1
South Carolina1
Texas7
Utah1
Virginia5
Washington1
Wisconsin4
West Virginia1
Wyoming1
Total109

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