CHICAGOLAND ENTREPRENEURIAL CENTER: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- CHICAGOLAND ENTREPRENEURIAL CENTER (EIN 20-8411320)
- Tax period
- 2011-07-01 to 2012-06-30
- Filed
- 2013-05-15
- IRS object ID
- 201301359349305245
- Schema version
- 2011v1.5
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule G
- Schedule I
- Schedule J
- Schedule L
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-05-15T12:53:41-05:00 | Timestamp |
| Tax Period End Date | 2012-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 381357951 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PLANTE & MORAN PLLC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10 S RIVERSIDE PLAZA 9TH FLOOR | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 60606 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 208411320 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CHICAGOLAND ENTREPRENEURIAL CENTER | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | CHIC | NameControl |
| Phone | 3127752320 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 222 MERCHANDISE MART PLAZA NO 1212 | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 60654 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | KEVIN WILLER | Name |
| Title | PRESIDENT | Title |
| Phone | 3127752320 | Phone |
| Date Signed | 2013-05-15 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | LU ANN TRAPP | Name |
| PTIN | P01506476 | PTIN |
| Phone | 3122071040 | Phone |
| Date Prepared | 2013-05-15 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | KEVIN WILLER | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 222 MERCHANDISE MART PLAZA NO 1212 | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 60654 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 4119505 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.CHICAGOLANDEC.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2006 | YearFormation |
| State Legal Domicile | IL | StateLegalDomicile |
| Activity Or Mission Description | THE CENTER PROMOTES AND GROWS CHICAGO'S ENTREPRENEURIAL COMMUNITY. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 8 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 7 | NbrIndependentVotingMembers |
| Total Nbr Employees | 3 | TotalNbrEmployees |
| Total Nbr Volunteers | 170 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 1069420 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 3772787 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 0 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 162122 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 63 | InvestmentIncomePriorYear |
| Investment Income Current Year | 294 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 10475 | OtherRevenuePriorYear |
| Other Revenue Current Year | -48702 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 1079958 | TotalRevenuePriorYear |
| Total Revenue Current Year | 3886501 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 259990 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 635524 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 566618 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 50000 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 21224 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 379094 | OtherExpensePriorYear |
| Other Expenses Current Year | 1024673 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 1064618 | TotalExpensesPriorYear |
| Total Expenses Current Year | 1851281 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 15340 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 2035220 | RevenuesLessExpensesCY |
| Total Assets BOY | 333180 | TotalAssetsBOY |
| Total Assets EOY | 2778641 | TotalAssetsEOY |
| Total Liabilities BOY | 310815 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 721056 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 22365 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 2057585 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | THE CENTER SEEKS TO MAKE A PERCEPTIBLE AND LASTING ECONOMIC IMPACT ON THE CHICAGO REGION BY HELPING ENTREPRENEURS AND HIGH-GROWTH BUSINESSES BUILD VIABLE, SUSTAINABLE AND PROFITABLE ENTERPRISES. | MissionDescription |
| Significant New Program Services | 1 | SignificantNewProgramServices |
| Significant Change | 1 | SignificantChange |
| Expense | 1392255 | Expense |
| Revenue | 162122 | Revenue |
| Description | IN FISCAL YEAR 2012, THE CENTER LAUNCHED ITS NEW FLAGSHIP PROGRAM, 1871. THE PROGRAM STARTED IN APRIL 2012 WITH THE OPENING OF ITS 50,000 SQUARE FOOT STATE-OF-THE-ART FACILITY DESIGNATED TO SUPPORT THE FOLLOWING PURPOSES: (1) PROVIDE AFFORDABLE, FLEXIBLE SPACE FOR EARLY-STAGE STARTUP COMPANIES AND ENTREPRENEURS "MEMBERS" WHO ARE BUILDING DIGITAL BUSINESS; (2) PROVIDE EVENTS, MENTORSHIP, CLASSES, AND PROGRAMS THAT ARE RELEVANT TO ENTREPRENEURS' BUILDING DIGITAL BUSINESS; AND (3) PROVIDE OTHER SERVICES AND SUPPORT FOR DIGITAL BUSINESSES AND THE CHICAGO STARTUP COMMUNITY. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 259990 | Expense |
| Grants | 259990 | Grants |
| Description | FUTURE FOUNDERS PROGRAM - THE PURPOSE IS TO EXPAND ENTREPRENEURSHIP AND CAREER EXPLORATION PROGRAMS FOR UNDERSERVED STUDENTS IN THE CHICAGOLAND AREA. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 1652245 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 1 | ProfessionalFundraising |
| Fundraising Activities | 1 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 1 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 1 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 0 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 3 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 1 | QuidProQuoContributions |
| Quid Pro Quo Disclosure | 1 | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 8 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 7 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 1 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | IL | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KEVIN WILLER | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 3127752320 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 222 W MERCHANDISE MART PLAZA SUITE | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 60654 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (48 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| KEVIN WILLER | ||||||
| PRESIDENT AND CEO | 40.00 | X | X | 155077 | 0 | 10632 |
| BRYANT KEIL | ||||||
| BOARD CO-CHAIR | 0.10 | X | X | 0 | 0 | 0 |
| JIM O'CONNOR JR | ||||||
| BOARD CO-CHAIR | 0.10 | X | X | 0 | 0 | 0 |
| HANK ADAMS | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| JOHN AIELLO | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| LAURA ANDERSON | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| LESLIE ANDERSON | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| JEFFREY ARONIN | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| DAVID BAKER | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| ROBERT BLACKWELL JR | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| MATT BROWN | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| LON CHOW | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| MICHAEL COLE | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| STEVE COLLENS | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| LINDA DARRAGH | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| DEAN DEBIASE | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| JIM DUGAN | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| LARRY EPPLEY | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| MICHAEL FERRO JR | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| CHRIS GLADWIN | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| JAMES GRAY | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| SAM GUREN | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| TROY HENIKOFF | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| WARREN HOLTSBERG | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| GREGG KAPLAN | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| TALIA MASHIACH | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| BRET MAXWELL | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| MATT MCCALL | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| RJ MELMAN | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| MAURA O'HARA | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| JB PRITZKER RESIGNED 12012 | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| ERIC REEVES | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| GERALD ROPER | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| DANNY ROSENBURG | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| ELLEN RUDNICK | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| PATRICK RYAN JR | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| JOE SHENTON | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| ANDY SKOGLUND | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| JUERGEN STARK | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| TIM STOJKA | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| SCOTT SWANSON | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| RANDALL TAVIERNE | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| GENEVIEVE THIERS | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| LB THOMPSON | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| DAVID TOLMIE | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| JASON TYLER | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| SAM YAGAN | ||||||
| BOARD MEMBER | 0.10 | X | 0 | 0 | 0 | |
| SCOTT ISSEN | ||||||
| MANAGING DIRECTOR-FUTURE FOUNDERS | 40.00 | X | 71178 | 0 | 4430 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 226255 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 15062 | TotalOtherCompensation |
| Number Individuals GT100 K | 1 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
| Number Of Contractors GT100 K | 0 | NumberOfContractorsGT100K |
| Fundraising Events | 737200 | FundraisingEvents |
| Government Grants | 2355757 | GovernmentGrants |
| All Other Contributions | 679830 | AllOtherContributions |
| Noncash Contributions | 99475 | NoncashContributions |
| Total Contributions | 3772787 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| TENANT RENT | 900099 | 82718 | 82718 |
| MEMBER RENT | 900099 | 71611 | 71611 |
| EVENTS INCOME | 900099 | 7793 | 7793 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 162122 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 294 | TotalRevenueColumn |
| Exclusion | $294 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 184302 | GrossIncomeFundraisingEvents |
| Cntrbtns Rprtd Fundraising Events | 737200 | CntrbtnsRprtdFundraisingEvents |
| Fundraising Direct Expenses | 233004 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -48702 | TotalRevenueColumn |
| Exclusion | -$48,702 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3886501 | TotalRevenueColumn |
| Related Or Exempt Function Income | 162122 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | -$48,408 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 259990 | Total |
| Program Services | 259990 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 154269 | Total |
| Program Services | 126969 | ProgramServices |
| Management And General | 27300 | ManagementAndGeneral |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 353528 | Total |
| Program Services | 253847 | ProgramServices |
| Management And General | 78457 | ManagementAndGeneral |
| Fundraising | 21224 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 15475 | Total |
| Program Services | 15475 | ProgramServices |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 43346 | Total |
| Program Services | 43346 | ProgramServices |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5605 | Total |
| Management And General | 5605 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 308900 | Total |
| Program Services | 308900 | ProgramServices |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 45863 | Total |
| Program Services | 19221 | ProgramServices |
| Management And General | 26642 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9095 | Total |
| Program Services | 9095 | ProgramServices |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 554340 | Total |
| Program Services | 516122 | ProgramServices |
| Management And General | 38218 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 34665 | Total |
| Program Services | 34665 | ProgramServices |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 37261 | Total |
| Program Services | 37261 | ProgramServices |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1590 | Total |
| Management And General | 1590 | ManagementAndGeneral |
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices |
|---|---|---|
| OTHER PROGRAM SPONSORSH | 27200 | 27200 |
| MISCELLANEOUS | 154 | 154 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1851281 | Total |
| Program Services | 1652245 | ProgramServices |
| Management And General | 177812 | ManagementAndGeneral |
| Fundraising | 21224 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 55214 | BOY |
| EOY | 51524 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 136610 | BOY |
| EOY | 4521 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 123399 | BOY |
| EOY | 258764 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 69794 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15663 | BOY |
| EOY | 7952 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 2423024 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 36938 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2294 | BOY |
| EOY | 2386086 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 333180 | BOY |
| EOY | 2778641 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 65329 | BOY |
| EOY | 136259 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 56250 | BOY |
| EOY | 0 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 189236 | BOY |
| EOY | 584797 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 310815 | BOY |
| EOY | 721056 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -88017 | BOY |
| EOY | 1957585 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 110382 | BOY |
| EOY | 100000 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 22365 | BOY |
| EOY | 2057585 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 333180 | BOY |
| EOY | 2778641 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | 2035220 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 0 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org170b1 Avi | X | PubliclySupportedOrg170b1Avi |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 245983 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 684409 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 505970 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 1069420 | CurrentTaxYearMinus1Year |
| Current Tax Year | 3772787 | CurrentTaxYear |
| Total | 6278569 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 245983 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 684409 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 505970 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 1069420 | CurrentTaxYearMinus1Year |
| Current Tax Year | 3772787 | CurrentTaxYear |
| Total | 6278569 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amounts Subst Contributors Total | 313014 | AmountsSubstContributorsTotal |
| Public Support Total170 | 5965555 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | 3089 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 1075 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 63 | CurrentTaxYearMinus1Year |
| Current Tax Year | 294 | CurrentTaxYear |
| Total | 4521 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 6283090 | TotalSupport |
| Gross Receipts From Admissions Etc | 346424 | GrossReceiptsFromAdmissionsEtc |
| Public Support Pertcentage170 | 0.94950 | PublicSupportPertcentage170 |
| Thirty Three Percnt Tests CY170 | X | ThirtyThreePercntTestsCY170 |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2267731 | OtherCostOrOtherBasis |
| Depreciation | 31940 | Depreciation |
| Book Value | 2235791 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 145693 | OtherCostOrOtherBasis |
| Depreciation | 4464 | Depreciation |
| Book Value | 141229 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 9600 | OtherCostOrOtherBasis |
| Depreciation | 534 | Depreciation |
| Book Value | 9066 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 2386086 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| DEFERRED RENT | $492,897 |
| REFUNDABLE DEPOSITS | $91,900 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 584797 | TotalOfAmounts |
| Total Revenue | 3886501 | TotalRevenue |
| Total Expenses | 1851281 | TotalExpenses |
| Excess Or Deficit For Year | 2035220 | ExcessOrDeficitForYear |
| Excess Or Deficit Per FS | 2035220 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 3886501 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 3886501 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 3886501 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 1851281 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 1851281 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 1851281 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | Identifier |
| Return Reference | PART X: | ReturnReference |
| Explanation | ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE CENTER AND RECOGNIZE A TAX LIABILITY IF THE CENTER HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITION TAKEN BY THE CENTER HAS CONCLUDED THAT AS OF JUNE 30, 2012 AND 2011, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE CENTER IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2009. | Explanation |
Schedule G IRS990ScheduleG
| Field | Value | IRS element (for citing) |
|---|---|---|
| Mail Solicitations | X | MailSolicitations |
| Email Solicitations | X | EmailSolicitations |
| Phone Solicitations | X | PhoneSolicitations |
| In Person Solicitations | X | InPersonSolicitations |
| Solicitation Of Non Govt Grants | X | SolicitationOfNonGovtGrants |
| Solicitation Of Govt Grants | X | SolicitationOfGovtGrants |
| Special Fundraising Events | X | SpecialFundraisingEvents |
| Agreement Ref Fundraising | 1 | AgreementRefFundraising |
Fundraiser Activity Information FundraiserActivityInformation
Name Of Organization NameOfOrganization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PJH ASSOCIATES | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 205 W WACKER DRIVE | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 60606 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activity | CONSULTANT FOR MOMENTUM DINNER | Activity |
| Fundraiser Control Of Funds | 0 | FundraiserControlOfFunds |
| Gross Receipts | 921502 | GrossReceipts |
| Amount Retained By Contractor | 32778 | AmountRetainedByContractor |
| Net To Organization | 888724 | NetToOrganization |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Gross Receipts | 921502 | TotalGrossReceipts |
| Total Retained By Contractors | 32778 | TotalRetainedByContractors |
| Total Net To Organization | 888724 | TotalNetToOrganization |
| Licensed States | IL | LicensedStates |
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | MOMENTUM AWARDS DINNER | NameOfEvent1 |
| Gross Receipts Event1 | 921502 | GrossReceiptsEvent1 |
| Charitable Contributions Event1 | 737200 | CharitableContributionsEvent1 |
| Gross Revenue Event1 | 184302 | GrossRevenueEvent1 |
| Other Direct Expenses Event1 | 233004 | OtherDirectExpensesEvent1 |
| Gross Receipts Total | 921502 | GrossReceiptsTotal |
| Charitable Contributions Total | 737200 | CharitableContributionsTotal |
| Gross Revenue Total Events | 184302 | GrossRevenueTotalEvents |
| Other Direct Expenses Total Events | 233004 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 233004 | DirectExpenseSummaryEvents |
| Net Income Summary | -48702 | NetIncomeSummary |
Form990 Schedule G Part IV Form990ScheduleGPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | EXPLANATION OF FUNDRAISING PAYMENTS | Identifier |
| Return Reference | SCHEDULE G, PART I, LINE 2B, COLUMN (V) | ReturnReference |
| Explanation | CONSULTANT FOR MOMENTUM FUNDRAISING DINNER | Explanation |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Recipient Table RecipientTable
Recipient Name Business RecipientNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE INNOVATION FOUNDATION | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 600 W CHICAGO AVE STE 700 | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 60654 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN Of Recipient | 451225075 | EINOfRecipient |
| IRC Section | 501(C)(3) | IRCSection |
| Amount Of Cash Grant | 259990 | AmountOfCashGrant |
| Purpose Of Grant | FUNDING FOR FUTURE FOUNDERS PROGRAM | PurposeOfGrant |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of501 C3 And Govt Grants | 1 | TotalNbrOf501C3AndGovtGrants |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: THE ORGANIZATION MADE A CONTRIBUTION TO ANOTHER 501(C)(3) ORGANIZATION WITH SIMILAR MISSION FOR THE GENERAL SUPPORT OF THE FUTURE FOUNDERS PROGRAM. SINCE THE FUNDS ARE TO BE USED FOR THE GENERAL SUPPORT OF THIS PROGRAM, WE DO NOT REQUIRE THIS ORGANIZATION TO SUBSTANTIATE THEIR EXPENDITURES RELATED TO THIS CONTRIBUTION. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | KEVIN WILLER | NamePerson |
| Base Compensation Filing Org | 155077 | BaseCompensationFilingOrg |
| Comp Based On Related Orgs | 0 | CompBasedOnRelatedOrgs |
| Bonus Filing Org | 0 | BonusFilingOrg |
| Bonus Related Orgs | 0 | BonusRelatedOrgs |
| Other Compensation Filing Org | 0 | OtherCompensationFilingOrg |
| Other Compensation Related Orgs | 0 | OtherCompensationRelatedOrgs |
| Deferred Comp Filing Org | 0 | DeferredCompFilingOrg |
| Deferred Comp Related Orgs | 0 | DeferredCompRelatedOrgs |
| Nontaxable Benefits Filing Org | 10632 | NontaxableBenefitsFilingOrg |
| Nontaxable Benefits Related Orgs | 0 | NontaxableBenefitsRelatedOrgs |
| Total Compensation Filing Org | 165709 | TotalCompensationFilingOrg |
| Total Compensation Related Orgs | 0 | TotalCompensationRelatedOrgs |
| Comp Report Prior990 Filing Org | 0 | CompReportPrior990FilingOrg |
| Comp Report Prior990 Related Orgs | 0 | CompReportPrior990RelatedOrgs |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV (2 entries)
| RelationshipRelationship | Amount Of TransactionAmountOfTransaction | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues |
|---|---|---|---|
| MIKE HUFFSTETLER | |||
| NEPHEW OF BOARD CO-CHAIR, BRYANT KEIL | 21224 | EMPLOYEE COMPENSATION | 0 |
| JB PRITZKER | |||
| FORMER BOARD MEMBER | 495084 | CEC SUB-LEASES THEIR CURRENT SPACE AT THE MERCHANDISE MART FROM TNDP, LLC OWNED BY FORMER CEC BOARD MEMBER J.B. PRITZKER. TNDP, LLC SIGNED THE MASTER LEASE FOR THE MERCHANDISE MART SPACE AND SUB-LEASES THIS SAME SPACE TO CEC AT THE SAME TERMS TNDP, LLC HAS NEGOTIATED WITH THE MERCHANDISE MART. PER THE TERMS OF THE LEASE NO RENTAL PAYMENTS WERE PAID TO TNDP, LLC DURING THE CURRENT YEAR, HOWEVER THE $495,084 RENTAL EXPENSE BEING REPORTED IS BASED ON THE STRAIGHT-LINED RENTAL EXPENSE OVER THE LIFE OF THE LEASE PER GAAP REPORTING REQUIREMENTS. J.B. PRITZKER RESIGNED FROM THE BOARD IN JANUARY 2012, PRIOR TO THIS TRANSACTION BEING NEGOTIATED. | 0 |
Schedule M IRS990ScheduleM
Other Non Cash Contributions Table OtherNonCashContributionsTable
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Description | COMPUTERS/TECHNOLOGY EQUIPMENT | Description |
| Number Of Contributions | 1 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 99475 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FMV - RETAIL PRICE | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 0 | ThirdPartiesUsed |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| NEW PROGRAM SERVICES | FORM 990, PART III, LINE 2 | IN FISCAL YEAR 2012, THE CENTER LAUNCHED ITS NEW FLAGSHIP PROGRAM, 1871. THE PROGRAM STARTED IN APRIL 2012 WITH THE OPENING OF ITS 50,000 SQUARE FOOT STATE-OF-THE-ART FACILITY DESIGNATED TO SUPPORT THE FOLLOWING PURPOSES: (1) PROVIDE AFFORDABLE, FLEXIBLE SPACE FOR EARLY-STAGE STARTUP COMPANIES AND ENTREPRENEURS "MEMBERS" WHO ARE BUILDING DIGITAL BUSINESS; (2) PROVIDE EVENTS, MENTORSHIP, CLASSES, AND PROGRAMS THAT ARE RELEVANT TO ENTREPRENEURS' BUILDING DIGITAL BUSINESS; AND (3) PROVIDE OTHER SERVICES AND SUPPORT FOR DIGITAL BUSINESSES AND THE CHICAGO STARTUP COMMUNITY. |
| CHANGES IN PROGRAM SERVICES | FORM 990, PART III, LINE 3 | DURING FISCAL YEAR 2012, THE CENTER SPUN OUT THE FUTURE FOUNDERS PROGRAM INTO A SEPARATE ENTITY CALLED THE FUTURE FOUNDERS FOUNDATION THAT IS SEPARATELY RUN AND GOVERNED. THE FUTURE FOUNDERS FOUNDATION WAS ESTABLISHED TO EXPAND ENTREPRENEURSHIP AND CAREER EXPLORATION PROGRAMS FOR UNDERSERVED STUDENTS IN THE CHICAGOLAND AREA. ON NOVEMBER 1, 2011, THE CENTER GRANTED THE REMAINING BALANCE OF THE RESTRICTED CONTRIBUTIONS THAT WERE AVAILABLE AT THE TIME OF THE SPINOFF TO THE INNOVATION FOUNDATION, A 501(C)(3) ORGANIZATION THAT WOULD RUN THE FUTURE FOUNDERS PROGRAM UNTIL THE FUTURE FOUNDERS FOUNDATION BECAME ITS OWN 501(C)(3) ORGANIZATION. |
| FORM 990, PART VI, SECTION A, LINE 2 | MATT MCCALL, BOARD MEMBER AND J.B. PRITZKER, FORMER BOARD MEMBER - BUSINESS RELATIONSHIP HANK ADAMS, BOARD MEMBER AND J.B. PRITZKER, FORMER BOARD MEMBER - BUSINESS RELATIONSHIP TALIA MASHIACH, BOARD MEMBER AND J.B. PRITZKER, FORMER BOARD MEMBER - BUSINESS RELATIONSHIP GENEVIEVE THIERS, BOARD MEMBER AND J.B. PRITZKER, FORMER BOARD MEMBER - BUSINESS RELATIONSHIP BRET MAXWELL, BOARD MEMBER AND TALIA MASHIACH, BOARD MEMBER - BUSINESS RELATIONSHIP JIM DUGAN, BOARD MEMBER AND CHRIS GLADWIN, BOARD MEMBER - BUSINESS RELATIONSHIP KEVIN WILLER,CEO; J.B. PRITZKER, FORMER BOARD MEMBER; AND TROY HENIKOFF, SAM YAGAN, JIM DUGAN, MICHAEL FERRO, BOARD MEMBERS - BUSINESS RELATIONSHIP DANNY ROSENBERG, BOARD MEMBER AND JOHN AIELLO, BOARD MEMBER - BUSINESS RELATIONSHIP JOHN AIELLO, BOARD MEMBER AND PATRICK RYAN, BOARD MEMBER - BUSINESS RELATIONSHIP | |
| FORM 990, PART VI, SECTION A, LINE 4 | THE BYLAWS WERE AMENDED TO REFLECT THE FOLLOWING CHANGES: - GENERAL UPDATE OF BYLAWS TO REFLECT BUSINESS CHANGES - UPDATED BOARD OF DIRECTORS COUNT TO EIGHT AND ESTABLISHED ALL VOTING POWER WITH EXECUTIVE COMMITTEE ONLY - CREATED NONVOTING GROUP OF BOARD MEMBERS - CREATED INDEPENDENT SELECTION COMMITTEE FOR 1871 APPLICANTS | |
| FORM 990, PART VI, SECTION B, LINE 11 | THE BOARD RETAINS THE SERVICES OF AN INDEPENDENT CPA FIRM TO PREPARE THE ORGANIZATION'S FORM 990. THE CFO, VP OF OPERATIONS AND CEO REVIEW THE COMPLETED FORM 990. A MEETING OR CONFERENCE CALL IS SCHEDULED FOR THE CPA FIRM AND ORGANIZATION MANAGEMENT TO DISCUSS THE FORM 990 WITH THE FINANCE AND AUDIT COMMITTEE. A FULL COPY OF THE 990 IS PROVIDED TO ALL VOTING MEMBERS OF THE GOVERNING BODY PRIOR TO FILING. | |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CEC SENDS OUT ANNUAL REMINDERS TO THE BOARD ASKING FOR UPDATES TO THE CONFLICT OF INTEREST POLICY. | |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION FOR THE CEO IS APPROVED BY THE CHAIRMAN OF THE ORGANIZATION. OTHER KEY EMPLOYEES' COMPENSATION IS APPROVED BY THE CEO. VARIOUS SURVEYS AND OTHER SOURCES CONTAINING SALARY INFORMATION ARE USED IN DETERMINING COMPENSATION FOR EMPLOYEES. | |
| FORM 990, PART VI, SECTION C, LINE 19 | DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. |
Comments