FINANCIAL HEALTH NETWORK INC: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- FINANCIAL HEALTH NETWORK INC (EIN 20-3006098)
- Tax period
- 2010-01-01 to 2010-12-31
- Filed
- 2011-09-08
- IRS object ID
- 201112519349300006
- Schema version
- 2010v3.4
- 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 C
- Schedule D
- Schedule J
- Schedule L
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-09-08T09:13:24-05:00 | Timestamp |
| Tax Period End Date | 2010-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Desmond & Ahern Ltd | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10827 S Western Avenue | AddressLine1 |
| City | Chicago | City |
| State | IL | State |
| ZIP Code | 60643 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 203006098 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | The Financial Innovations Center Inc | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | FINA | NameControl |
| Phone | 3128815856 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 North Clark No 1950 | AddressLine1 |
| City | Chicago | City |
| State | IL | State |
| ZIP Code | 60602 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Jennifer Tescher | Name |
| Title | President | Title |
| Phone | 3128815856 | Phone |
| Date Signed | 2011-08-29 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Hugh J Ahern CPA | Name |
| Phone | 7737794720 | Phone |
| Date Prepared | 2011-08-29 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | X | AddressChange |
Doing Business As DoingBusinessAs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Cemter for Fin'l Services Innovation | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | Jennifer Tescher | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 North Clark No 1950 | AddressLine1 |
| City | Chicago | City |
| State | IL | State |
| ZIP Code | 60602 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 4267482 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | www.cfsinnovation.com | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2005 | YearFormation |
| State Legal Domicile | IL | StateLegalDomicile |
| Activity Or Mission Description | Transform financial services market to help underbanked consumers achieve financial prosperity. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 11 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 10 | NbrIndependentVotingMembers |
| Total Nbr Employees | 26 | TotalNbrEmployees |
| Total Nbr Volunteers | 10 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 1025256 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 3310000 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 1110093 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 952517 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 20420 | InvestmentIncomePriorYear |
| Investment Income Current Year | 12378 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | -7413 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 2155769 | TotalRevenuePriorYear |
| Total Revenue Current Year | 4267482 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 108500 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 1195896 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 1578193 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 56581 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 931540 | OtherExpensePriorYear |
| Other Expenses Current Year | 1233585 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 2235936 | TotalExpensesPriorYear |
| Total Expenses Current Year | 2811778 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -80167 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 1455704 | RevenuesLessExpensesCY |
| Total Assets BOY | 3022713 | TotalAssetsBOY |
| Total Assets EOY | 4259250 | TotalAssetsEOY |
| Total Liabilities BOY | 884247 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 704365 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 2138466 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 3554885 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | CFSI's mission is to transform the U.S. financial services marketplace to help underbanked consumers achieve financial prosperity. CFSI's mission is to facilitate the development, marketing, and distribution of innovative financial products and services for underbanked consumers. To do this, we work with banks, credit unions, companies, providers, nonprofits, government -- large or small, established or new, local or national. We believe that market and mission objectives can work together to transform the financial services landscape and ensure underbanked consumers can be self-sufficient and to achieve prosperity. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 2231106 | Expense |
| Revenue | 952517 | Revenue |
| Description | Provides funding for innovative solutions, a meeting place for interested parties, resources for testing products and services, and identifies, develops and distributes authoritative information on how to respond to the needs of the underbanked profitably and responsibly. The Organization works with banks, credit unions, technology vendors, alternative service providers, consumer advocates, and policy makers to forge new relationships, pioneer products and strategies, and seek asset-building opportunities that create value. | Description |
| Total Program Service Expense | 2231106 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 1 | LobbyingActivities |
| 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 | 1 | 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 | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 1 | 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 | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | 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 | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 1 | DisregardedEntity |
| Related Entity | 1 | 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 | 25 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 26 | 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 | 0 | QuidProQuoContributions |
| 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 | 11 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 10 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | 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 | 0 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | IL | StatesWhereCopyOfReturnIsFiled |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | Theresa Williams and Carol Brown | NamePerson |
| Telephone Number | 3128815809 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 North Clark Suite 1950 | AddressLine1 |
| City | Chicago | City |
| State | IL | State |
| ZIP Code | 60606 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (13 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| Ellen Seidman | |||||||
| Chair | 2.00 | X | X | 0 | 0 | 0 | |
| Jennifer Tescher | |||||||
| Secretary/President of CFSI | 50.00 | X | X | 154505 | 0 | 15450 | X |
| Kevin Rhein | |||||||
| Treasurer | 2.00 | X | X | 0 | 0 | 0 | |
| Robert Annibale | |||||||
| Director | 1.00 | X | 0 | 0 | 0 | ||
| Steven Dow | |||||||
| Director | 1.00 | X | 0 | 0 | 0 | ||
| Susan Ehrich | |||||||
| Director | 1.00 | X | 0 | 0 | 0 | ||
| Bruce Murphy | |||||||
| Director | 1.00 | X | 0 | 0 | 0 | ||
| Gary Palmer | |||||||
| Director | 1.00 | X | 0 | 0 | 0 | ||
| Eric Rodriguez | |||||||
| Director | 1.00 | X | 0 | 0 | 0 | ||
| David Rose | |||||||
| Director | 1.00 | X | 0 | 0 | 0 | ||
| Liz Lopez Urrutia | |||||||
| Director | 1.00 | X | 0 | 0 | 0 | ||
| Kimberly Gartner | |||||||
| VP of Advisory Services | 50.00 | 116055 | 0 | 11605 | X | ||
| Rachel Schneider | |||||||
| VP of Innovation & Research | 50.00 | 124894 | 0 | 12490 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 395454 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 39545 | TotalOtherCompensation |
| Number Individuals GT100 K | 3 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (2 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| DLA Piper LLP | |||||
| 5266 Paysphere Circle | Chicago | IL | 60674 | Legal services | 135783 |
| SBK | |||||
| 7054 S Jeffery Blnd | Chicago | IL | 60649 | IT, HR, accounting and other | 115796 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 2 | NumberOfContractorsGT100K |
| All Other Contributions | 3310000 | AllOtherContributions |
| Total Contributions | 3310000 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| ROUNDTABLE FEES | 900099 | 595000 | 595000 |
| CONFERENCE | 900099 | 170633 | 170633 |
| CONTRACTUAL FEES | 900099 | 103629 | 103629 |
| BUSINESS MATCH SERVICE | 900099 | 83255 | 83255 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 952517 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 12378 | TotalRevenueColumn |
| Exclusion | $12,378 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Core Innovation Capita | Description |
| Business Code | 900099 | BusinessCode |
| Total Revenue Column | -7413 | TotalRevenueColumn |
| Exclusion | -$7,413 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | -7413 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 4267482 | TotalRevenueColumn |
| Related Or Exempt Function Income | 952517 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $4,965 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 158742 | Total |
| Program Services | 95245 | ProgramServices |
| Management And General | 39686 | ManagementAndGeneral |
| Fundraising | 23811 | Fundraising |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1157119 | Total |
| Program Services | 994922 | ProgramServices |
| Management And General | 146370 | ManagementAndGeneral |
| Fundraising | 15827 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 56610 | Total |
| Program Services | 47054 | ProgramServices |
| Management And General | 7931 | ManagementAndGeneral |
| Fundraising | 1625 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 102906 | Total |
| Program Services | 89107 | ProgramServices |
| Management And General | 12719 | ManagementAndGeneral |
| Fundraising | 1080 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 102816 | Total |
| Program Services | 85460 | ProgramServices |
| Management And General | 14405 | ManagementAndGeneral |
| Fundraising | 2951 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 20242 | Total |
| Management And General | 20242 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 70526 | Total |
| Management And General | 70526 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 510343 | Total |
| Program Services | 442587 | ProgramServices |
| Management And General | 65603 | ManagementAndGeneral |
| Fundraising | 2153 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 158072 | Total |
| Program Services | 123137 | ProgramServices |
| Management And General | 34281 | ManagementAndGeneral |
| Fundraising | 654 | Fundraising |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 14649 | Total |
| Program Services | 5835 | ProgramServices |
| Management And General | 8814 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 80627 | Total |
| Program Services | 65171 | ProgramServices |
| Management And General | 12994 | ManagementAndGeneral |
| Fundraising | 2462 | Fundraising |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 177465 | Total |
| Program Services | 143446 | ProgramServices |
| Management And General | 28600 | ManagementAndGeneral |
| Fundraising | 5419 | Fundraising |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 134243 | Total |
| Program Services | 107699 | ProgramServices |
| Management And General | 26543 | ManagementAndGeneral |
| Fundraising | 1 | Fundraising |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 19761 | Total |
| Program Services | 8458 | ProgramServices |
| Management And General | 11303 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 440 | Total |
| Program Services | 354 | ProgramServices |
| Management And General | 73 | ManagementAndGeneral |
| Fundraising | 13 | Fundraising |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 19171 | Total |
| Program Services | 15496 | ProgramServices |
| Management And General | 3090 | ManagementAndGeneral |
| Fundraising | 585 | Fundraising |
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| DUES, FEES & SUBSCRIPTI | 22298 | 6613 | 15685 |
| MISCELLANEOUS | 5748 | 522 | 5226 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2811778 | Total |
| Program Services | 2231106 | ProgramServices |
| Management And General | 524091 | ManagementAndGeneral |
| Fundraising | 56581 | Fundraising |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1630496 | BOY |
| EOY | 2599838 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 518832 | BOY |
| EOY | 1025677 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 320960 | BOY |
| EOY | 112335 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 334 | BOY |
| EOY | 3365 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 7909 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 7909 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 440 | BOY |
| EOY | 0 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 547513 | BOY |
| EOY | 513897 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4138 | BOY |
| EOY | 4138 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3022713 | BOY |
| EOY | 4259250 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 339655 | BOY |
| EOY | 174365 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 44592 | BOY |
| EOY | 30000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 500000 | BOY |
| EOY | 500000 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 884247 | BOY |
| EOY | 704365 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1410809 | BOY |
| EOY | 1608901 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 727657 | BOY |
| EOY | 1945984 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2138466 | BOY |
| EOY | 3554885 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3022713 | BOY |
| EOY | 4259250 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 1455704 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -39285 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| 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 | 1415494 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 3381258 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 1506167 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 1025256 | CurrentTaxYearMinus1Year |
| Current Tax Year | 3310000 | CurrentTaxYear |
| Total | 10638175 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 1415494 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 3381258 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 1506167 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 1025256 | CurrentTaxYearMinus1Year |
| Current Tax Year | 3310000 | CurrentTaxYear |
| Total | 10638175 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amounts Subst Contributors Total | 3836424 | AmountsSubstContributorsTotal |
| Public Support Total170 | 6801751 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 339 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 27840 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 62935 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 20420 | CurrentTaxYearMinus1Year |
| Current Tax Year | 12378 | CurrentTaxYear |
| Total | 123912 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 10762087 | TotalSupport |
| Gross Receipts From Admissions Etc | 3861701 | GrossReceiptsFromAdmissionsEtc |
| Public Support Pertcentage170 | 0.63200 | 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 C IRS990ScheduleC
Total Direct Lobbying TotalDirectLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 4283 | FilingOrganizationsTotals |
Total Lobbying Expenditures TotalLobbyingExpenditures
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 4283 | FilingOrganizationsTotals |
Other Exempt Purpose Expenditures OtherExemptPurposeExpenditures
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 2807495 | FilingOrganizationsTotals |
Total Exempt Purpose Expenditures TotalExemptPurposeExpenditures
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 2811778 | FilingOrganizationsTotals |
Lobbying Nontaxable LobbyingNontaxableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 290589 | FilingOrganizationsTotals |
Grassroots Nontaxable GrassrootsNontaxableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 72647 | FilingOrganizationsTotals |
Tot Lobbying Grassroot Minus Non Tx TotLobbyingGrassrootMinusNonTx
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 0 | FilingOrganizationsTotals |
Tot Lobby Expend Mns Lobbying Nontx TotLobbyExpendMnsLobbyingNontx
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 0 | FilingOrganizationsTotals |
Lobbying Nontaxable Amount2 LobbyingNontaxableAmount2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus1 | 261797 | CurrentYearMinus1 |
| Current Year | 290589 | CurrentYear |
| Total | 552386 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Lobbying Ceiling | $828,579 | LobbyingCeilingAmount |
Total Lobbying Expenditures2 TotalLobbyingExpenditures2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus1 | 1106 | CurrentYearMinus1 |
| Current Year | 4283 | CurrentYear |
| Total | 5389 | Total |
Grassroots Nontaxable Amount2 GrassrootsNontaxableAmount2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus1 | 65449 | CurrentYearMinus1 |
| Current Year | 72647 | CurrentYear |
| Total | 138096 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grassroots Ceiling | $207,144 | GrassrootsCeilingAmount |
Schedule D IRS990ScheduleD
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 7909 | OtherCostOrOtherBasis |
| Depreciation | 7909 | Depreciation |
| Book Value | 0 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 0 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (3 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| TIO Networks, Corp | 116022 | F |
| Investment in CFSI Catalyst Fund, LP | 392202 | F |
| Core Innovation Capital | 5673 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 513897 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Recoverable grant | Description |
| Amount | $500,000 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 500000 | TotalOfAmounts |
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 | FIN 48 - Foot note CFSI was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code Section 501(c)(3). The Organization qualifies for the charitable contribution deduction under Section 170(b)(1)(A)(vi) and has been classified as an organization that is not a private foundation under Section 509(a)(1). The tax exempt purpose of the Organization and the nature in which it operates is described in the first paragraph of Note 1 (page 2 of Form 990). The Organization continues to operate in compliance with its tax exempt purpose. The Organization's annual information returns filed with the federal and state governments are subject to examination for the statutory period. | 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 | Jennifer Tescher | NamePerson |
| Base Compensation Filing Org | 133250 | BaseCompensationFilingOrg |
| Comp Based On Related Orgs | 0 | CompBasedOnRelatedOrgs |
| Bonus Filing Org | 21255 | 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 | 15450 | NontaxableBenefitsFilingOrg |
| Nontaxable Benefits Related Orgs | 0 | NontaxableBenefitsRelatedOrgs |
| Total Compensation Filing Org | 169955 | TotalCompensationFilingOrg |
| Total Compensation Related Orgs | 0 | TotalCompensationRelatedOrgs |
| Comp Report Prior990 Filing Org | 151164 | CompReportPrior990FilingOrg |
| Comp Report Prior990 Related Orgs | 0 | CompReportPrior990RelatedOrgs |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV
Name Of Interested Person NameOfInterestedPerson
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Ellen Seidman | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship | Board Chairman | Relationship |
| Amount Of Transaction | 257437 | AmountOfTransaction |
| Description Of Transaction | Schedule O - Ellen Seidman, Board Chair, is the Executive Vice President of Shorebank Corportion. The Organization leased office space and outsourced certain admnistrative functions to Shorebank Corporation. | DescriptionOfTransaction |
| Sharing Of Revenues | 0 | SharingOfRevenues |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (5 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| Form 990, Part VI, Section B, line 11 | The Form 990 was initially reviewed by the Accounting Department, then reviewed and approved by the Executive Director. Prior to filing, the Form 990 was presented to the Board of Directors for final review. | |
| Board members must sign a conflict of interest policy annually. They are encouraged to report conflicts as they occur. | Form 990, Part VI, Section B, line 12c | |
| The Board of Directors reviews and approves the Executive Director's compensation, which is determined using comparability studies. The Executive Director reviews and approves the compensation of other officers and key employees. | Form 990, Part VI, Section B, line 15a | |
| The Organizaton makes its governing documents, conflict of interest policy, and financial statements available upon request. | Form 990, Part VI, Section C, line 19 | |
| Changes in Net Assets or Fund Balances: | Net unrealized losses on investments: -39,285. | Form 990, Part XI, line 5: |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CFSI Catalyst GPLLC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2230 S Michigan Avenue | AddressLine1 |
| City | Chicago | City |
| State | IL | State |
| ZIP Code | 60616 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 260509531 | EIN |
| Primary Activities | Community Development Investments | PrimaryActivities |
| Legal Domicile State | IL | LegalDomicileState |
| Total Income | -1822 | TotalIncome |
| EOY Assets | 901962 | EOYAssets |
Form990 Schedule R Part III Form990ScheduleRPartIII (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivityPrimaryActivity | Legal Domicile StateLegalDomicileState | Business Name Line1DirectControllingEntityName/BusinessNameLine1 | Predominant Income TypePredominantIncomeType | Share Of Total IncomeShareOfTotalIncome | Share Of EOY AssetsShareOfEOYAssets | Disproportionate AllocationsDisproportionateAllocations | General Or Managing PartnerGeneralOrManagingPartner | Percentage OwnershipPercentageOwnership |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| THE CFSI Catalyst Fund LP | |||||||||||||
| 2230 S Michigan Avenue | Chicago | IL | 60616 | 260509703 | Financial products | IL | CFSI Catalyst GPLLC | Investments | -1822 | 463683 | 1 | 1 | 0.50000 |
| Core Innovation Capital I LP | |||||||||||||
| 611 Broadway Ave Suite 504 | New York | NY | 10012 | 272234487 | Investment in equity, equity-related and debt instruments | DE | Investments | -7413 | 0 | 0 | 0.09990 | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |