Civic Intelligence

Bansan Foundation

990 • Fiscal year 2023 • EIN 20-5970885

Aug 01, 2022 to Jul 31, 2023 • Filed on Jun 17, 2024

Organization ProfileWWW.FLOSSMOORMONTESSORI.ORG

View Organization Page

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

78th percentile

0.37x

Higher debt load relative to assets than 78% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

82nd percentile

0.57x

Higher debt load relative to revenue than 82% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

69th percentile

16%

Higher net margin than 69% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

64th percentile

$93,369

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 11.7% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

78th percentile

22%

Faster asset growth than 78% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

47th percentile

5.0%

Faster revenue growth than 47% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$1,239,978

Up $220,142 (+22%) from 2022

Net Assets

Up

$784,907

Up $124,642 (+19%) from 2022

Liabilities

Up

$455,071

Up $95,500 (+27%) from 2022

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin69th percentile

Revenue

Up

$801,198

Up $38,483 (+5.0%) from 2022

Expenses

Up

$676,556

Up $121,529 (+22%) from 2022

Net Income

Down

$124,642

Down $83,046 (-40%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

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

2023

Assets$1,239,978
Liabilities$455,071
Net Assets$784,907
Open 2023 Filing

Operations Trend

Revenue Growth47th percentile

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

2023

Revenue$801,198
Expenses$676,556
Net Income$124,642
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2022 to Jul 31, 2023
Signed
Jun 17, 2024
Return Version
2022v5.0
Gross Receipts
$801,198
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$577,087$593,945▲ $16,858
Cash and Non-Interest-Bearing Accounts$389,689$585,825▲ $196,136
Investments in Publicly Traded Securities$53,060$53,360▲ $300
Total Assets$1,019,836$1,239,978▲ $220,142
Other Assets Total$0$6,848▲ $6,848
Liabilities
Mortgage Notes Payable Secured by Investment Property$322,740$302,620▼ $20,120
Deferred Revenue$26,977$127,403▲ $100,426
Accounts Payable and Accrued Expenses$8,465$23,659▲ $15,194
Other Liabilities$1,389$1,389→ $0
Total Liabilities$359,571$455,071▲ $95,500
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$660,265$784,907▲ $124,642
Total Net Assets Fund Balance$660,265$784,907▲ $124,642
Total Liabilities and Net Assets / Fund Balance$1,019,836$1,239,978▲ $220,142

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$522,948$171,768$694,716
Land$65,000-$65,000
Equipment$5,997$9,068$15,065
Compensation and Service Providers
Top Officer Pay64th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Bansari ModiAdministratorFT$93,369$93,369

Board Members and Trustees

NameTitle
Dr Sanjiv ModiPresident/director
Niraj S ShahDirector
Tushar R ShahSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$197,782
Program Service Revenue
$588,765
Investment Income
$7,328
Other Revenue
$7,323
All Other Contributions
$26,266
Change in Net Assets
$124,642

Audited Revenue Reconciliation

Revenue per Audited Statements
$801,198
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$801,198
Total Revenue per Form 990
$801,198
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$478,205
Other Expenses$198,351
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$291,935$55,626-$347,561
Current Officers, Directors, Trustees, and Key Employees$82,227$15,668-$97,895
Occupancy$51,471$9,808-$61,279
Payroll Taxes$24,691$4,704-$29,395
Fees for Services Other$22,971$4,377-$27,348
Depreciation Depletion$18,084$3,446-$21,530
Office Expenses$15,914$640-$16,554
Interest$7,142$1,361-$8,503
Fees for Services Accounting-$7,728-$7,728
Insurance-$6,163-$6,163
Other Employee Benefits$2,817$537-$3,354
Information Technology-$1,935-$1,935
Other Expenses$1,702--$1,702
Advertising-$1,186-$1,186
All Other Expenses$807--$807
Conferences and Meetings$711--$711
Total Functional Expenses$563,377$113,179$0$676,556

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$676,556
Total Expenses per Audited Statements$676,556
Total Expenses per Form 990$676,556
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$7,323
Fundraising Direct Expenses$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Scholarships Payable$1,389
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
2024-06-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sanjiv Modi
Formed
2006
Legal Domicile
Il
Voting Board Members
4
Independent Board Members
3
Employees
17
Volunteers
0

Preparer

Firm
Wsdd Cpas Ltd
Address
303 W MADISON ST SUITE 2075, CHICAGO, IL 60606-3395
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 408 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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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,239,978
Liabilities
$455,071
Net assets
$784,907
Revenue
$801,198
Expenses
$676,556
Net income
$124,642
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.27$0.38$0.90$0.81$0.69$0.11
2023Detailed filing. Detailed filing data is available for this year.$1.24$0.46$0.78$0.80$0.68$0.12
2022Detailed filing. Detailed filing data is available for this year.$1.02$0.36$0.66$0.76$0.56$0.21
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.00$0.54$0.45$0.54$0.47$0.07
2020Detailed filing. Detailed filing data is available for this year.$0.98$0.60$0.38$0.49$0.51$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.83$0.42$0.40$0.57$0.57$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.85$0.45$0.41$0.52$0.39$0.14
2017Detailed filing. Detailed filing data is available for this year.$0.75$0.48$0.27$0.48$0.38$0.09
2016Detailed filing. Detailed filing data is available for this year.$0.67$0.49$0.18$0.39$0.36$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.68$0.53$0.16$0.40$0.38$0.03
2014Summary only. Only limited summary data is available for this year.$0.67$0.54$0.13$0.19$0.27$0.08
2013Summary only. Only limited summary data is available for this year.$0.73$0.52$0.21$0.17$0.03$0.15