ILLINOIS SCIENCE AND TECHNOLOGY INSTITUTE: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- ILLINOIS SCIENCE AND TECHNOLOGY INSTITUTE (EIN 45-4092094)
- Tax period
- 2012-07-01 to 2013-06-30
- Filed
- 2013-12-20
- IRS object ID
- 201323549349300817
- Schema version
- 2012v2.3
- 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 ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-12-20T12:14:14-06:00 | Timestamp |
| Tax Period End Date | 2013-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | STANFIELD & ASSOCIATES | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2001 BUTTERFIELD RD STE 1000 | AddressLine1 |
| City | DOWNERS GROVE | City |
| State | IL | State |
| ZIP Code | 605155476 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 454092094 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ILLINOIS SCIENCE AND TECHNOLOGY | BusinessNameLine1 |
| Business Name Line2 | INSTITUTE | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | ILLI | NameControl |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 222 MERCHANDISE MART PLAZA | AddressLine1 |
| Address Line2 | ROOM/SUITE 1212 | AddressLine2 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 606541103 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | MARK EDWARD HARRIS | Name |
| Title | PRESIDENT | Title |
| Date Signed | 2013-12-20 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JOHN STANFIELD CPA | Name |
| Phone | 6306059293 | Phone |
| Date Prepared | 2013-12-20 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2015-11-30 17:44:51Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | MARK EDWARD HARRIS | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 222 MERCHADISE MART PLAZA | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 606541103 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 502218 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2011 | YearFormation |
| State Legal Domicile | IL | StateLegalDomicile |
| Activity Or Mission Description | THE INSTITUTE WILL ADVANCE SCIENCE AND TECHNOLOGY THROUGH THE EDUCATION OF ILLNOIS RESIDENTS, THE PROVISION OF GRANTS TO INSTITUTIONS AND ORGANIZATIONS FOR SCIENTIFIC RESEARCH IN THE AREAS OF SCIENCE AND TECHNOLOGY, AND BY PROVIDING EDUCATIONAL RESOURCES FOR ENTREPRENEURISM, TECHNOLOGY TRANSFER, AND OTHER EDUCATION INITIATIVES THAT SUPPORT ECONOMIC DEVELOPMENT THROUGH SCIENCE AND TECHNOLOGY IN THE STATE OF ILLINOIS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 11 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 11 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Gross UBI | 0 | TotalGrossUBI |
| Contributions Grants Prior Year | 117500 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 502183 | ContributionsGrantsCurrentYear |
| Program Service Revenue CY | 0 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 12 | InvestmentIncomePriorYear |
| Investment Income Current Year | 35 | InvestmentIncomeCurrentYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 117512 | TotalRevenuePriorYear |
| Total Revenue Current Year | 502218 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 395983 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Current Year | 0 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expenses Current Year | 197 | OtherExpensesCurrentYear |
| Total Expenses Current Year | 396180 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 117512 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 106038 | RevenuesLessExpensesCY |
| Total Assets BOY | 225012 | TotalAssetsBOY |
| Total Assets EOY | 834966 | TotalAssetsEOY |
| Total Liabilities BOY | 107500 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 611416 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 117512 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 223550 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | THE INSTITUTE WILL ADVANCE SCIENCE AND TECHNOLOGY THROUGH THE EDUCATION OF ILLNOIS RESIDENTS, THE PROVISION OF GRANTS TO INSTITUTIONS AND ORGANIZATIONS FOR SCIENTIFIC RESEARCH IN THE AREAS OF SCIENCE AND TECHNOLOGY, AND BY PROVIDING EDUCATIONAL RESOURCES FOR ENTREPRENEURISM, TECHNOLOGY TRANSFER, AND OTHER EDUCATION INITIATIVES THAT SUPPORT ECONOMIC DEVELOPMENT THROUGH SCIENCE AND TECHNOLOGY IN THE STATE OF ILLINOIS. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 336180 | Expense |
| Grants | 335983 | Grants |
| Description | PROVISIONS OF GRANTS FOR THE EDUCATION OF ILLINOIS RESIDENTS | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 60000 | Expense |
| Grants | 60000 | Grants |
| Description | PROVISION OF EDUCATIONAL RESOURCES THAT SUPPORT ECONOMIC DEVELOPMENT THROUGH SCIENCE AND TECHNOLOGY IN THE STATE OF ILLINOIS. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 396180 | TotalProgramServiceExpense |
| Described In501 C3 | true | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | false | LobbyingActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | false | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | false | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | true | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | false | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | true | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | false | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 0 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 0 | NumberOfEmployees |
| Unrelated Business Income | false | UnrelatedBusinessIncome |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 11 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 11 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | false | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | false | ConflictOfInterestPolicy |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | false | CompensationProcessCEO |
| Compensation Process Other | false | CompensationProcessOther |
| Investment In Joint Venture | false | 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 | THE ORGANIZATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 3122390350 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 222 MERCHANDISE MART PLAZA RM 1212 | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 60654 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | X | NoListedPersonsCompensated |
Form990 Part VII Section A Form990PartVIISectionA (11 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| STEVE JOHANNS | ||||||
| CHAIR | 0.00 | X | X | 0 | 0 | 0 |
| GERALD ROPER | ||||||
| TREASURER | 0.00 | X | X | 0 | 0 | 0 |
| WARREN RIBLEY | ||||||
| 0.00 | X | 0 | 0 | 0 | ||
| VINCE KWASNIEWSKI | ||||||
| 0.00 | X | 0 | 0 | 0 | ||
| JEFFREY MAYS | ||||||
| 0.00 | X | 0 | 0 | 0 | ||
| ANDRE MASON | ||||||
| 0.00 | X | 0 | 0 | 0 | ||
| JEANNE USHER | ||||||
| 0.00 | X | 0 | 0 | 0 | ||
| PERCIVAL BARETTO-KO | ||||||
| 0.00 | X | 0 | 0 | 0 | ||
| AZMI NABULSI | ||||||
| 0.00 | X | 0 | 0 | 0 | ||
| JOHN LARSON | ||||||
| 0.00 | X | 0 | 0 | 0 | ||
| MATT SUMMY | ||||||
| 0.00 | X | 0 | 0 | 0 | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | false | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
| Government Grants | 502183 | GovernmentGrants |
| Total Contributions | 502183 | TotalContributions |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 35 | TotalRevenueColumn |
| Related Or Exempt Function Income | 35 | RelatedOrExemptFunctionIncome |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 502218 | TotalRevenueColumn |
| Related Or Exempt Function Income | 35 | RelatedOrExemptFunctionIncome |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 395983 | Total |
| Program Services | 395983 | ProgramServices |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 197 | Total |
| Program Services | 197 | ProgramServices |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 396180 | Total |
| Program Services | 396180 | ProgramServices |
| Management And General | 0 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 225012 | BOY |
| EOY | 726524 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 108442 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 225012 | BOY |
| EOY | 834966 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 41417 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 107500 | BOY |
| EOY | 569999 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 107500 | BOY |
| EOY | 611416 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 117512 | BOY |
| EOY | 223550 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 117512 | BOY |
| EOY | 223550 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 225012 | BOY |
| EOY | 834966 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | 106038 | ReconcilationRevenueExpenses |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Separate | X | FinancialStatementSeparate |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | true | AuditCommittee |
| Federal Grant Audit Required | false | 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 Minus1 Year | 117500 | CurrentTaxYearMinus1Year |
| Current Tax Year | 502183 | CurrentTaxYear |
| Total | 619683 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | 117500 | CurrentTaxYearMinus1Year |
| Current Tax Year | 502183 | CurrentTaxYear |
| Total | 619683 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | 619683 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | 12 | CurrentTaxYearMinus1Year |
| Current Tax Year | 35 | CurrentTaxYear |
| Total | 47 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 619730 | TotalSupport |
| Gross Receipts From Admissions Etc | 35 | GrossReceiptsFromAdmissionsEtc |
| First5 Years170 | X | First5Years170 |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Revenue Etc Audited Fincl Stmt | 502218 | TotRevenueEtcAuditedFinclStmt |
| Revenue Subtotal | 502218 | RevenueSubtotal |
| Total Revenue Per Form990 | 502218 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 396180 | TotExpensesEtcAuditedFinclStmt |
| Expenses Subtotal | 396180 | ExpensesSubtotal |
| Total Expenses Per Form990 | 396180 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | LIABILITY UNDER FIN 48 FOOTNOTE | Identifier |
| Return Reference | SCHEDULE D, PAGE 3, PART X | ReturnReference |
| Explanation | THE ORGANIZATION ADOPTED FASB ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING UNCERTAINTY IN INCOME TAXES RECOGNIZED IN A ORGANIZATION'S FINANCIAL STATEMENTS. ASC 740 PROVIDES THAT A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON TECHNICAL MERITS. INCOME TAX POSITIONS MUST BE A MORE LIKELY-THAN-NOT RECOGNITION THRESHOLD AT THE EFFECTIVE DATE TO BE RECOGNIZED UPON THE ADOPTION OF ASC 740 AND IN SUBSEQUENT PERIODS. THIS INTERPRETATION ALSO PROVIDES GUIDANCE ON MEASUREMENT, DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. | Explanation |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | false | RecordsMaintained |
Recipient Table RecipientTable (2 entries)
| Amount Of Cash GrantAmountOfCashGrant |
|---|
| 335983 |
| 60000 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (3 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| ORGANIZATION'S MISSION | FORM 990 - ORGANIZATION'S MISSION | THE INSTITUTE WILL ADVANCE SCIENCE AND TECHNOLOGY THROUGH THE EDUCATION OF ILLNOIS RESIDENTS, THE PROVISION OF GRANTS TO INSTITUTIONS AND ORGANIZATIONS FOR SCIENTIFIC RESEARCH IN THE AREAS OF SCIENCE AND TECHNOLOGY, AND BY PROVIDING EDUCATIONAL RESOURCES FOR ENTREPRENEURISM, TECHNOLOGY TRANSFER, AND OTHER EDUCATION INITIATIVES THAT SUPPORT ECONOMIC DEVELOPMENT THROUGH SCIENCE AND TECHNOLOGY IN THE STATE OF ILLINOIS. |
| ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 | FORM 990, PAGE 6, PART VI, LINE 11B | THE RETURN IS REVIEWED AT THE QUARTERLY MEETING CLOSEST TO THE FILING DUE DATE. |
| GOVERNING DOCUMENTS DISCLOSURE EXPLANATION | FORM 990, PAGE 6, PART VI, LINE 19 | DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ILLINOIS SCIENCE AND TECHNOLOGY | BusinessNameLine1 |
| Business Name Line2 | COALITION | BusinessNameLine2 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 222 MERCHANDISE MART PLAZA RM 1212 | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 60654 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activities | R&D | PrimaryActivities |
| Legal Domicile State | IL | LegalDomicileState |
| Exempt Code Section | 501C | ExemptCodeSection |
| Public Charity Status | 6 | PublicCharityStatus |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Controlled Org | false | ControlledOrg |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | false | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | false | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | false | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | false | LoansOrGuaranteesFromOtherOrg |
| Dividends Related Organization | false | DividendsRelatedOrganization |
| Sale Of Assets To Other Org | false | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | false | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | false | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | false | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | false | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | false | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | false | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | false | SharingOfFacilities |
| Sharing Of Paid Employees | false | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | false | OtherTransferToOtherOrg |
| Other Transfer From Other Org | false | OtherTransferFromOtherOrg |
Reasonable Cause Explanation ReasonableCauseExplanation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | WE ARE REQUESTING AN ABATEMENT OF THE PENALTIES ASSOCIATED WITH THE ILLINOIS SCIENCE AND TECHNOLOGY INSTITUTE'S 2012 FORM 990 TAX RETURN. THE REASON THE PENALTY WOULD BE ASSESSED IS DUE TO LATE FILING OF THE RETURN. WHAT PREVENTED THE ORGANIZATION FROM REQUESTING AN EXTENSION OF TIME TO FILE ITS RETURN IS THE FACT THERE WAS A MISCOMMUNICATION BETWEEN OUR CURRENT TAX PREPARER AND FORMER ONE AS WE SWITCHED ACCOUNTANTS DURING THE 2012 TAX YEAR. WHILE WE ARE AWARE CHANGING ACCOUNTANTS IS A NORMAL COURSE OF BUSINESS, WE WERE TOLD BY OUR FORMER ACCOUNTANT THAT THEY HAD FILED THE EXTENSION, WHICH WE SUBSEQUENTLY WERE MADE AWARE WAS NOT CORRECT. OUR NEW ACCOUNTANT WAS MADE AWARE THAT IS NOT THE CASE, AND WE EXPEDITED THE FILING OF OUR RETURN IN ORDER TO BE COMPLIANT AS SOON AS WE WERE MADE AWARE OF THE ERROR. THE ORGANIZATION WAS NOT NEGLECTFUL OR CARELESS, BUT EXERCISED ORDINARY BUSINESS CARE AND PRUDENCE IN THAT WE RELIED ON THE REPRESENTATION OF OUR FORMER ACCOUNTANT THAT THE EXTENSION WAS | Explanation |
Comments