2016-03-01T16:11:14-06:00 2015-06-30 420714325 RSM US LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2014-07-01 364421008 Ida Crown Endowment Foundation IDAC 3123574790 30 South Wells No 4049 Chicago IL 60606 James A Pinkston Assistant Treasurer 3123574790 2016-03-01 1 Marek Rozowicz P01616027 3126343400 2014 2016-08-17 19:52:53Z Lawrence Friedman 30 South Wells No 4049 Chicago IL 60606 2637911 0 X N/A X 2000 IL The Foundation was established exclusively for the benefit and to carry out the purposes of the Ida Crown Jewish Academy, a not-for-profit organization. 9 9 0 14 0 0 50000 2517861 0 0 25275 100963 101 667 75376 2619491 77100 84300 0 0 0 0 0 0 0 0 12845 77100 97145 -1724 2522346 2579131 5009543 0 0 2579131 5009543 The Foundation was established exclusively for the benefit and to carry out the purposes of the Ida Crown Jewish Academy, a not-for-profit organization. 0 0 84300 84300 Distributions are made for the benefit of the Ida Crown Jewish Academy. 84300 1 1 0 0 0 0 0 0 0 1 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 IL X Peter Chiswick 3124442814 30 South Wells Suite 4049 Chicago IL 60606 X Lawrence Friedman President 1.00 0.00 X X 0 0 0 Gary Elkins Vice-President 1.00 0.00 X X 0 0 0 Ronnie Masliansky Secretary 1.00 0.00 X X 0 0 0 Jacques Gliksberg Treasurer 1.00 0.00 X X 0 0 0 Dr Jeff Kopin Director 1.00 0.00 X 0 0 0 Nathan H Lichtenstein Director 1.00 0.00 X 0 0 0 Rabbi Mordechai Raizman Director 1.00 0.00 X 0 0 0 Dr Marc Rubenstein Director 1.00 0.00 X 0 0 0 Aron Routman Director 1.00 0.00 X 0 0 0 David S Rosen Assistant Secretary 1.00 0.00 X 0 0 0 Deborah Silverman Assistant Secretary 1.00 0.00 X 0 0 0 Michael Tarnoff Assistant Treasurer 1.00 0.00 X 0 0 0 James A Pinkston Assistant Treasurer 1.00 0.00 X 0 0 0 Peter Chiswick Assistant Treasurer 1.00 0.00 X 0 0 0 0 0 0 0 0 0 0 0 2517861 2517861 22238 22238 97145 18420 78725 78725 78725 667 667 667 2619491 0 0 101630 84300 84300 Administrative Expenses 12845 12845 97145 84300 12845 0 1364156 3026858 1214975 1982685 2579131 5009543 0 0 X 280350 1948906 1588781 2317637 710000 743000 2579131 5009543 2579131 5009543 X 2522346 -79784 -12150 X 0 1 X 1 0 X X 1 Ida Crown Jewish Academy 362167009 2 1 84300 0 1 84300 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2579131 2517861 9696 84300 12845 5009543 1500154 960715 195362 77100 2579131 1053440 378912 92107 23000 1305 1500154 951043 148120 2377 48100 1053440 691651 194090 115002 49700 951043 0.38900 0.14830 0.46270 1 0 0 Jewish Federation of Metropolitan Chicago Pooled Investment Fund 3026858 F 3026858 Due from Jewish Federation of Metropolitan Chicago 1858335 Remainder Interest in Charitable Gift Annuities 124350 1982685 X 2527557 -79784 -12150 -91934 2619491 0 2619491 97145 0 97145 0 97145 Part V, Line 4: To support the educational programs of the academy. Part X, Line 2: The accounting standard for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the Foundation may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the Foundation and various positions related to the potential sources of unrelated business taxable income (UBTI). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. At June 30, 2015, there were no unrecognized tax benefits identified or recorded as liabilities. The Foundation files Forms 990 in the U.S. federal jurisdiction and the State of Illinois. With few exceptions, the Foundation is no longer subject to examination by the Internal Revenue Service for years before 2012. Part XI, Line 2d - Other Adjustments: Change in Remainder Interest in Charitable Gift Annuities -12,150. 1 Ida Crown Jewish Academy 2828 W Pratt Boulevard Chicago IL 60645 362167009 501(c)(3) 84300 General Operating Support 1 0 Part I, Line 2: All grants made by the Foundation can only be made to or for the benefit of the Ida Crown Jewish Academy. Form 990, Part VI, Section A, line 6 The Members of the Foundation are the Ida Crown Jewish Academy Day School (the Day School), the Jewish Federation of Metropolitan Chicago (the Federation), and Associated Talmud Torahs (ATT). Form 990, Part VI, Section A, line 7a The Members shall appoint the Board of Directors. The board of directors shall have nine directors divided into three classes: The Day School directors, of which there shall be five; Federation directors, of which there shall be two; and ATT directors, of which there shall be two. Form 990, Part VI, Section A, line 7b An annual meeting of Members shall be held each year on a date determined annually by the Board of Directors. At each such annual meeting the Members shall appoint a Board of Directors as provided in the by-laws and transact such other business as may come before the meeting. Form 990, Part VI, Section B, line 11 The Controller of a related entity of the Jewish Federation of Metropolitan Chicago reviewed the Form 990 prior to filing. A copy of the Form 990 was provided to the Board of Directors and Officers of the organization before it was filed. Form 990, Part VI, Section B, line 12c A conflict of interest questionnaire is circulated to all board members on an annual basis. This process is managed by the Foundation's Secretary who ensures all questionnaires are completed. The completed questionnaires are reviewed and any conflicts are disclosed to the board of directors. If a director does have a conflict or business relationship, he or she is required to abstain from any votes related to that matter. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy and financial statements are available upon request for the same period of disclosure as set forth in IRC Section 6104(d). Form 990, Part XI, line 9: Change in Remainder Interest in Charitable Gift Annuities -12,150. Ida Crown Jewish Academy 2828 W Pratt Boulevard Chicago IL 60645 362167009 School IL 501(c)(3) Line 2 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0