Civic Intelligence

Bansan Foundation

990 • Fiscal year 2019 • EIN 20-5970885

Aug 01, 2018 to Jul 31, 2019 • Filed on Dec 13, 2019

740 Western AveFlossmoor, IL 60422

(708) 798-4600

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

86th percentile

0.51x

Higher debt load relative to assets than 86% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

89th percentile

0.74x

Higher debt load relative to revenue than 89% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

38th percentile

-0.2%

Higher net margin than 38% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

30th percentile

-2.9%

Faster asset growth than 30% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

59th percentile

8.6%

Faster revenue growth than 59% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Assets

Down

$827,291

Down $24,482 (-2.9%) from 2018

Net Assets

Down

$404,932

Down $860 (-0.2%) from 2018

Liabilities

Down

$422,359

Down $23,622 (-5.3%) from 2018

Revenue

Up

$568,123

Up $45,173 (+8.6%) from 2018

Expenses

Up

$568,983

Up $181,563 (+47%) from 2018

Net Income

Down

-$860

Down $136,390 (-101%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2013: $730,177Liabilities 2013: $520,000Net Assets 2013: $210,1772013Assets 2014: $666,778Liabilities 2014: $535,195Net Assets 2014: $131,5832014Assets 2015: $684,232Liabilities 2015: $526,840Net Assets 2015: $157,3922015Assets 2016: $670,824Liabilities 2016: $491,541Net Assets 2016: $179,2832016Assets 2017: $746,852Liabilities 2017: $476,590Net Assets 2017: $270,2622017Assets 2018: $851,773Liabilities 2018: $445,981Net Assets 2018: $405,7922018Assets 2019: $827,291Liabilities 2019: $422,359Net Assets 2019: $404,9322019Assets 2020: $975,293Liabilities 2020: $595,521Net Assets 2020: $379,7722020Assets 2021: $996,023Liabilities 2021: $543,446Net Assets 2021: $452,5772021Assets 2022: $1,019,836Liabilities 2022: $359,571Net Assets 2022: $660,2652022Assets 2023: $1,239,978Liabilities 2023: $455,071Net Assets 2023: $784,9072023Assets 2024: $1,273,534Liabilities 2024: $376,829Net Assets 2024: $896,7052024

Highlighted filing

2019

Assets$827,291
Liabilities$422,359
Net Assets$404,932

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2013: $173,763Expenses 2013: $28,338Net Income 2013: $145,4252013Revenue 2014: $191,476Expenses 2014: $270,070Net Income 2014: -$78,5942014Revenue 2015: $403,051Expenses 2015: $377,242Net Income 2015: $25,8092015Revenue 2016: $385,322Expenses 2016: $363,430Net Income 2016: $21,8922016Revenue 2017: $475,925Expenses 2017: $384,946Net Income 2017: $90,9792017Revenue 2018: $522,950Expenses 2018: $387,420Net Income 2018: $135,5302018Revenue 2019: $568,123Expenses 2019: $568,983Net Income 2019: -$8602019Revenue 2020: $486,594Expenses 2020: $511,754Net Income 2020: -$25,1602020Revenue 2021: $541,667Expenses 2021: $468,862Net Income 2021: $72,8052021Revenue 2022: $762,715Expenses 2022: $555,027Net Income 2022: $207,6882022Revenue 2023: $801,198Expenses 2023: $676,556Net Income 2023: $124,6422023Revenue 2024: $806,148Expenses 2024: $694,350Net Income 2024: $111,7982024

Highlighted filing

2019

Revenue$568,123
Expenses$568,983
Net Income-$860
Jump To
Filing Snapshot
Filing Period
Aug 1, 2018 to Jul 31, 2019
Signed
Dec 13, 2019
Return Version
2018v3.1
Gross Receipts
$568,123
Mission and Program Overview

Mission

To create an environment for children following the path of montessori education to meet their developmental needs, inspiring them to reach their highest potential and help them discover how they can best contribute to our world and culture.

To educate children using the montessori methods.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$622,989$623,187▲ $198
Cash and Non-Interest-Bearing Accounts$218,264$203,879▼ $14,385
Other Notes and Loans Receivable, Net$2,025$225▼ $1,800
Total Assets$851,773$827,291▼ $24,482
Other Assets Total$8,495$0▼ $8,495
Liabilities
Mortgage Notes Payable Secured by Investment Property$438,515$418,658▼ $19,857
Accounts Payable and Accrued Expenses$7,466$3,701▼ $3,765
Total Liabilities$445,981$422,359▼ $23,622
Net Assets / Fund Balance
Unrestricted Net Assets$405,792$404,932▼ $860
Total Net Assets Fund Balance$405,792$404,932▼ $860
Total Liabilities and Net Assets / Fund Balance$851,773$827,291▼ $24,482

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$553,286$94,118$647,404
Land$65,000-$65,000
Equipment$4,901$1,578$6,479
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dr Sanjiv ModiPresident/director
Niraj S ShahDirector
Sanjay P PatelDirector
Bansari ModiAdministrator
Tushar R ShahSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$564,551
Investment Income
$0
Other Revenue
$3,572
Change in Net Assets
$-860

Audited Revenue Reconciliation

Revenue per Audited Statements
$568,123
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$568,123
Total Revenue per Form 990
$568,123
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$412,943
Other Expenses$156,040
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$256,401$35,442-$291,843
Current Officers, Directors, Trustees, and Key Employees$63,000$27,000-$90,000
Occupancy$42,785$8,365-$51,150
Payroll Taxes$25,278$4,942-$30,220
Depreciation Depletion$16,496$3,225-$19,721
Office Expenses$11,310$584-$11,894
Fees for Services Other$10,615--$10,615
Insurance-$9,425-$9,425
Fees for Services Accounting-$9,025-$9,025
Other Expenses$1,986--$1,986
All Other Expenses$1,621--$1,621
Advertising-$1,247-$1,247
Other Employee Benefits$736$144-$880
Information Technology-$810-$810
Conferences and Meetings$558--$558
Travel$28--$28
Total Functional Expenses$468,774$100,209$0$568,983

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$568,983
Total Expenses per Audited Statements$568,983
Total Expenses per Form 990$568,983
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$3,572
Fundraising Direct Expenses$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Dr. Sanjiv modi and bansari modi are married.

Form 990, Part VI, Section B, Line 11B

A copy of the 990 is distributed to the board members before it is filed.

Form 990, Part VI, Section C, Line 18

All documents are available to the public upon request.

Form 990, Part VI, Section C, Line 19

Bansan foundation makes their governing documents and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Bansan Foundation
EIN
20-5970885
Phone
7087984600
Address
740 WESTERN AVE, FLOSSMOOR, IL 60422

Signing Officer

Name
Sanjiv Modi
Title
President/director
Phone
7087984600
Signed
2019-12-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sanjiv Modi
Formed
2006
Legal Domicile
Il
Voting Board Members
4
Independent Board Members
4
Employees
25
Volunteers
0

Preparer

Firm
Weiss Sugar Dvorak & Dusek Ltd
Address
20 N WACKER DR SUITE 2250, CHICAGO, IL 60606
Preparer
Robert Rehayem
Phone
3123326622
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The organization has concluded that no material uncertain tax positions have been taken on any open tax returns. For the current year, the organization believes all tax positions are fully supportable by existing federal law and related interpretations and there are no uncertain tax positions to consider.

Raw XML AppendixShowing 400 of 415 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
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