Scholarship Assn For Uic in Chicago, Illinois (IL)

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Scholarship Assn For Uic
Employer Identification Number (EIN)366226323
Name of OrganizationScholarship Assn For Uic
AddressChicago, IL 60607
Tax Period2002
Asset Amount$895,590
Amount of Income$145,512
Form 990 Revenue Amount$145,512
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2002: $145,512
Scholarship Assn For Uic: 

 $145,512
Other organizations performing similar types of work: 

 $299,534

Assets in 2002: $895,590
Scholarship Assn For Uic: 

 $895,590
Other organizations performing similar types of work: 

 $1,135,383

Expenses in 2002: $88,691
This organization: 

 $88,691
Other organizations performing similar types of work: 

 $135,405

Income to expenses ratio in 2002: 1.6
This organization: 

 1.6
Other organizations performing similar types of work: 

 1.8

Expenses allocated to program services in 2002: 61.2%
Scholarship Assn For Uic: 

 61.2%
Other organizations performing similar types of work: 

 82.4%

Employees paid over $50,000 in 2002: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 25.8%

Grants share in income in 2002: 93.9%
Scholarship Assn For Uic: 

 93.9%
Other organizations performing similar types of work: 

 74.1%

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Expenses for 2002

Functional Expenses for 2002 ($)

Income-Producing Activities for 2002

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002
Total revenue$-65,036$-41,327$145,512
Contributions, gifts, grants, and similar amounts received$2,930$2,185$136,660
Contributions to donor advised funds
Direct public support$2,930$2,185$136,660
Indirect public support$0$0$0
Government contributions (grants)$0$0$0
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$3,615$505$75
Interest on savings and temporary cash investments$24,551$24,895$19,134
Dividends and interest from securities$11,606$7,252$6,823
Net rental income or (loss)$0$0$0
Gross rents$0$0$0
Less: rental expenses$0$0$0
Other investment income$-125,714$57,257$39,546
Gain or (loss) from sales of assets other than inventory$-653$-146,776$-58,389
Gross amount from sales of assets other than inventory$967,659$359,578$298,609
Less: cost or other basis and sales expenses$968,312$506,354$356,998
Net income or (loss) from special events and activities$18,629$13,355$1,663
Gross revenue$39,313$40,305$6,340
Less: direct expenses other than fundraising expenses$20,684$26,950$4,677
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$0$0$0
Total expenses$80,802$78,201$88,691
Program services$40,000$40,000$54,235
Management and general$40,802$38,201$34,456
Fundraising$0$0$0
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$958,297$838,769$895,590
Excess or (deficit) for the year$-145,838$-119,528$56,821
Net assets or fund balances at beginning of year$1,111,648$958,297$838,769
Other changes in net assets or fund balances$-7,513$0$0
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$88,691$54,235$34,456$0
Grants paid from donor advised funds
Other grants and allocations$54,235
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$11,230$0$11,230$0
Compensation of former officers, directors, key employees, etc.
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)
Salaries and wages of employees not included above$8,020$0$8,020$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$671$0$671$0
Professional fundraising fees$0$0$0$0
Accounting fees$8,795$0$8,795$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$74$0$74$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$2,490$0$2,490$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$3,176$0$3,176$0
Balance Sheets
200020012002
Total assets$958,662$839,095$895,954
Cash - non-interest-bearing$30,631$29,969$3,373
Savings and temporary cash investments$15,388$41,031$124,634
Accounts receivable less allowance for doubtful accounts$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$18,500$18,500$18,500
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$0$0$0
Investments - publicly-traded securities
Investments - other securities$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$894,143$749,595$749,447
Land, buildings, and equipment less accumulated depreciation$0$0$0
Other assets, including program-related investments$0$0$0
Total liabilities$365$326$364
Accounts payable and accrued expenses$365$326$364
Grants payable$0$0$0
Deferred revenue$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$0$0$0
Mortgages and other notes payable$0$0$0
Other liabilities$0$0$0
Total liabilities and net assets/fund balances$958,662$839,095$895,954
Total net assets or fund balances$958,297$838,769$895,590
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002
Total revenue$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0
Other expenses$0$0$0
Net unrealized gains on investments$0$0$0
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$0$0$0
Other revenue$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002
Total expenses$0$0$0
Total expenses and losses per audited financial statements$0$0$0
Other revenue$0$0$0
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$0$0$0
Other expenses$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
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?
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?
Does the organization have a written conflict of interest policy?
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?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)?
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?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20061
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$7,114$1,738
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$75
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)$19,134$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)$6,823$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$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))$39,546$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$-58,389$0
Net income or (loss) from special events000000$000$0$1,663
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
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 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2002)
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?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
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
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
199920002001
Total$51,488$82,015$126,833
Gifts, grants, and contributions received$200$2,930$53,876
Membership fees received$885$3,615$505
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$23,582$39,313$40,305
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$26,821$36,157$32,147
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$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
Other income$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2002)
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
1Scholarship America Inc, S-V Dollars For Scholars1024 South Locust, Sesser, IL 62884IL1962-04$222,454,367
2Illinois Masonic Charities Fund2866 Via Verde St, Springfield, IL 62703-4388IL1966-06$173,802,688
3National Merit Scholarship Corporation1560 Sherman Ave Ste 200, Evanston, IL 60201-4816IL1957-01$132,652,299
4Evans Scholars Foundation1 Briar Rd, Golf, IL 60029-2000IL1976-09$37,708,563
5Louise Orr Scott Fdn 680100410010 S Dearborn Il1-0117, Chicago, IL 60603-2300IL1970-07$5,254,464
6Western Illinois Regional Council Community Action Agency223 S Randolph St, Macomb, IL 61455-2209IL1994-06$4,776,975
7W W Wannamaker Citadel Star Of The West MaPO BOX 2904, Wilson, NC 27894-2904NC1953-02$2,852,405
8Donald S Pichitino Educational Tr10 S Dearborn, Chicago, IL 60603-2300IL1998-08$2,437,936
9Midwestern University Foundation555 31st St, Downers Grove, IL 60515-1235IL1994-07$1,341,555
10Leiby S Hall Scholarship Tr, Alsup Harold E TteePO BOX 1488, Decatur, IL 62525-1488IL1999-04$1,008,419
11Wilmington School District 209-U Foundation For Excellence209u Wildcat Ct, Wilmington, IL 60481-4500IL2000-02$81,508
12Westmont Chamber Of Commerce Educational Foundation1 S Cass Ave Ste 101, Westmont, IL 60559-1895IL2009-07$15,151
13Wiet Family Foundation168 Foxborough Pl, Burr Ridge, IL 60527-6481IL2002-05$11,016
14Free The Children Trust745 Concord Lane, Barrington, IL 60010IL1990-03$0
15Illinois Life Underwriters Foundation, Naifa Illinois Foundation60 Adloff Lane, Springfield, IL 62703IL1999-12$0
16Top Ladies Of Distinction Inc, East St Louis8917 Woestboul St, E Saint Louis, IL 62203-2219IL$0
17Top Ladies Of Distinction Inc, Evergreen Park20649 Promethian Way, Olympia Flds, IL 60461-1517IL1974-11$0
18Top Ladies Of Distinction Inc, Midway3701 W 79th Pl, Chicago, IL 60652-1833IL1974-11$0
19Top Ladies Of Distinction Inc, West Suburban Chicago4726 Mckinley Ave, Lisle, IL 60532-1733IL1974-11$0
20Westside 40 Plus Inc303 Desplaines Ave, Forest Park, IL 60130IL2001-04$0
Number of organizations performing similar types of work
Alaska3
Alabama12
Arkansas12
Arizona19
California92
Colorado3
Connecticut3
District of Columbia7
Delaware2
Florida9
Georgia9
Hawaii3
Iowa8
Idaho1
Illinois28
Indiana7
Kentucky4
Louisiana4
Massachusetts15
Maryland8
Michigan3
Minnesota27
Missouri8
Mississippi3
Montana1
North Carolina16
North Dakota2
Nebraska2
New Hampshire2
New Jersey12
New Mexico1
Nevada1
New York16
Ohio17
Oklahoma3
Oregon1
Pennsylvania16
Rhode Island1
South Carolina5
South Dakota2
Tennessee5
Texas37
Utah1
Virginia14
Vermont1
Washington5
Wisconsin12
Wyoming3
International3
Total469

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