2013-05-15T13:28:17-05:00 2012-06-30 420714325 MCGLADREY LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2011-07-01 364421008 Ida Crown Endowment Foundation IDAC 3123574790 30 South Wells No 4049 Chicago IL 60606 Peter Chiswick 3123574790 2013-05-15 1 David Faje P00031371 3126343400 2011 2016-02-24 21:20:13Z Lawrence Friedman 30 South Wells No 4049 Chicago IL 60606 202321 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 corporation. 8 8 0 13 0 0 103890 148120 0 0 38157 27932 0 0 142047 176052 48100 48100 0 0 0 0 0 0 0 0 0 48100 48100 93947 127952 951043 1053440 0 0 951043 1053440 The Foundation was established exclusively for the benefit and to carry out the purposes of the Ida Crown Jewish Academy, a not-for-profit corporation. 0 0 48100 48100 Distributions are made for the benefit of the Ida Crown Jewish Academy. 48100 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 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 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 0 0 0 IL X Peter Chiswick 3124442814 30 South Wells Suite 4049 Chicago IL 60606 X Larry Friedman 1.00 X X 0 0 0 Gary Elkins 1.00 X X 0 0 0 Ronnie Masliansky 1.00 X X 0 0 0 Jacques Gliksberg 1.00 X X 0 0 0 Dr Jeff Kopin 1.00 X 0 0 0 Nathan H Lichtenstein 1.00 X 0 0 0 Rabbi Moredchai Raizman 1.00 X 0 0 0 Dr Marc Rubenstein 1.00 X 0 0 0 David S Rosen 1.00 X 0 0 0 Deborah Samuels 1.00 X 0 0 0 Michael Tarnoff 1.00 X 0 0 0 James A Pinkston 1.00 X 0 0 0 Peter Chiswick 1.00 X 0 0 0 0 0 0 0 0 0 0 0 148120 148120 6101 6101 48100 26269 21831 21831 21831 176052 0 0 27932 48100 48100 48100 48100 0 0 141600 289720 809425 763720 18 0 951043 1053440 0 0 X 449443 234505 141600 458935 360000 360000 951043 1053440 951043 1053440 X 127952 -25555 X 0 1 1 X 0 X X X 0 0 0 Ida Crown Jewish Academy 362167009 9 1 48100 1 48100 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 951043 148120 2377 48100 1053440 691651 194090 115002 49700 951043 666372 25 73254 48000 691651 845901 453 -131382 48600 666372 0.22260 0.34170 0.43570 0 0 0 Jewish Federation of Metropolitan Chicago Pooled Investment Fund 763720 F 763720 176052 48100 127952 -25555 -25555 102397 176052 0 176052 0 176052 73655 25555 25555 48100 0 48100 Description of Intended Use of Endowment Funds: Part V, Line 4: To support the educational programs of the academy. Description of Uncertain Tax Positions Under FIN 48: Part X: 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, 2012, 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 2009. Part XIII, Line 2d - Other Adjustments: Net unrealized losses on investments 25,555. 1 Ida Crown Jewish Academy 30 South Wells Suite 4049 Chicago IL 60606 362167009 501(c)(3) 48100 General Operating Support 1 0 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, 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 Jewish Federation of Metropolitan Chicago, and Associated Talmud Torahs. Form 990, Part VI, Section A, line 7a The Members shall appoint the Board of Directors. 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 An Officer and Director appointed by Jewish Federation of Metropolitan Chicago reviewed the Form 990 prior to filing. 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 organization makes its governing documents, conflict of interest policy, and financial statements available to the public during the tax year upon request. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -25,555. Ida Crown Jewish Academy 30 South Wells Suite 4049 Chicago IL 60606 362167009 School IL 501(c)(3) Line 9 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0