Civic Intelligence

Lake County Bar Foundation

990 • Fiscal year 2021 • EIN 23-7094399

Jul 01, 2020 to Jun 30, 2021 • Filed on Jan 03, 2022

Organization Profilewww.lakebar.org
300 Grand AveWaukegan, IL 60085

(847) 244-3143

Siviq Scores

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

Liabilities / Assets

75th percentile

0.30x

Higher debt load relative to assets than 75% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

95th percentile

4.22x

Higher debt load relative to revenue than 95% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

11th percentile

-18%

Higher net margin than 11% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

15th percentile

-4.0%

Faster asset growth than 15% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

69th percentile

35%

Faster revenue growth than 69% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$1,357,755

Down $57,032 (-4.0%) from 2020

Net Assets

Down

$955,169

Down $6,319 (-0.7%) from 2020

Liabilities

Down

$402,586

Down $50,713 (-11%) from 2020

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin11th percentile

Revenue

Up

$95,424

Up $24,853 (+35%) from 2020

Expenses

Up

$112,228

Up $12,439 (+12%) from 2020

Net Income

Up

-$16,804

Up $12,414 (+42%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2013: $560,900Liabilities 2013: $0Net Assets 2013: $560,9002013Assets 2015: $563,994Liabilities 2015: $0Net Assets 2015: $563,9942015Assets 2019: $1,492,219Liabilities 2019: $490,802Net Assets 2019: $1,001,4172019Assets 2020: $1,414,787Liabilities 2020: $453,299Net Assets 2020: $961,4882020Assets 2021: $1,357,755Liabilities 2021: $402,586Net Assets 2021: $955,1692021Assets 2022: $1,365,645Liabilities 2022: $399,834Net Assets 2022: $965,8112022Assets 2023: $1,543,972Liabilities 2023: $387,357Net Assets 2023: $1,156,6152023Assets 2024: $1,765,698Liabilities 2024: $233,189Net Assets 2024: $1,532,5092024

Highlighted filing

2021

Assets$1,357,755
Liabilities$402,586
Net Assets$955,169
Open 2021 Filing

Operations Trend

Revenue Growth69th percentile

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

$600K$400K$200K$0-$200KExpenses 2013: $106,4222013Revenue 2015: $195,569Expenses 2015: $155,120Net Income 2015: $40,4492015Revenue 2019: $118,255Expenses 2019: $148,751Net Income 2019: -$30,4962019Revenue 2020: $70,571Expenses 2020: $99,789Net Income 2020: -$29,2182020Revenue 2021: $95,424Expenses 2021: $112,228Net Income 2021: -$16,8042021Revenue 2022: $139,527Expenses 2022: $108,238Net Income 2022: $31,2892022Revenue 2023: $318,384Expenses 2023: $117,009Net Income 2023: $201,3752023Revenue 2024: $497,206Expenses 2024: $130,046Net Income 2024: $367,1602024

Highlighted filing

2021

Revenue$95,424
Expenses$112,228
Net Income-$16,804
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jan 3, 2022
Return Version
2020v4.0
Gross Receipts
$133,711
Mission and Program Overview

Mission

The Foundation was established in 1960 to promote the education of lawyers and advance the science of jurisprudence. The purposes of the Foundation are: (a) promoting the charitable, educational, scientific and literary mission of the Lake County Bar Association; (b) improving and facilitating the administration of justice; (c) promoting the study and research of law, the diffusion of legal knowledge and the continuing education of lawyers; (d) publishing and distributing addresses, reports, treatises and other literary works on legal subjects; (e) acquiring preserving and exhibiting rare books and documents, objects of art, and items of cultural or historical interest to the Lake County community and/or having legal significance or bearing on the administration of justice; (f) providing financial assistance to Lake County Bar Association (the Association) Attorney members in need as determined solely at the discretion of the Trustees of the Foundation (the Trustees); (g) purchasing, o

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,120,472$1,078,654▼ $41,818
Cash and Non-Interest-Bearing Accounts$92,217$190,828▲ $98,611
Savings and Temporary Cash Investments$102,572$0▼ $102,572
Investments in Publicly Traded Securities$40,908$48,465▲ $7,557
Pledges and Grants Receivable$58,600$28,600▼ $30,000
Accounts Receivable$18$0▼ $18
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,414,787$1,357,755▼ $57,032
Other Assets Total-$11,208-
Liabilities
Mortgage Notes Payable Secured by Investment Property$318,880$261,374▼ $57,506
Escrow Account Liability$134,419$130,072▼ $4,347
Deferred Revenue-$11,140-
Total Liabilities$453,299$402,586▼ $50,713
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$961,488$955,169▼ $6,319
Total Net Assets Fund Balance$961,488$955,169▼ $6,319
Total Liabilities and Net Assets / Fund Balance$1,414,787$1,357,755▼ $57,032

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$929,624$98,896$1,028,520
Land$96,689-$96,689
Other Land Buildings$44,256$50,550$94,806
Equipment$8,085$5,995$14,080
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Jeff BermanPast President
Nicholas RiewerPresident
Carey SchieverVice President
Amy LonerganTrustee
David GordonTrustee
David StepanichTrustee
Douglas DorandoTrustee
Fredric LesserTrustee
HON FRED FOREMAN retTrustee
HON HENRY TONIGAN retTrustee
Hon Michael NerheimTrustee
Jennifer AshleyTrustee
John Quinn SrTrustee
Joseph MchughTrustee
Joseph MorrisonTrustee
Keith GrantTrustee
Kenneth GlickTrustee
Kristie FingerhutTrustee
Melanie RummelTrustee
Michael OriTrustee
Nandia BlackTrustee
STEVEN McCOLLUMTrustee
Scott GibsonTrustee
Shayama ParikhTrustee
Joann FratianiSecretary
Perry Smith JrTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$33,112
Program Service Revenue
$0
Investment Income
$1,925
Other Revenue
$60,387
All Other Contributions
$33,112
Change in Net Assets
$-16,804
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$93,728
Grants and Similar Amounts Paid$18,500
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$41,818-$41,818
Grants to Domestic Orgs$18,500--$18,500
Occupancy-$15,165-$15,165
Interest-$7,177-$7,177
Fees for Services Accounting-$5,030-$5,030
Insurance-$4,054-$4,054
Other Expenses-$1,016-$1,016
Office Expenses-$40-$40
Total Functional Expenses$18,500$93,728$0$112,228
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Art Impact Project Not Fot PrLake Forest, IL--$8,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$17,175
Fundraising Direct Expenses$1,842
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Awah$17,175$17,175$1,842$15,333
Total Events$17,175$17,175$1,842$15,333
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-HusbandInsurance PolicyNo$1,200

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Members of the foundation are attorneys practicing in lake county illinois”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Members elect officers and trustees annually to manage the foundation's activities.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“Changes to the bylaws are subject to the approval of the members of the lake county bar foundation”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The foundation's executive board reviews form 990 and supplemental information prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Any contract entered into on behalf of the lake county bar foundation is reviewed for potential conflicts with members of the board of trustees. If a potential conflict arises it is brought before the entire board for consideration.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents and form 990 are available upon request”

Filing and Contact Details

Filer

Filer Name
Lake County Bar Foundation
EIN
23-7094399
Phone
8472443143
Address
300 GRAND AVE, WAUKEGAN, IL 60085

Signing Officer

Name
Nicholas Riewer
Title
President
Signed
2022-01-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicholas Riewer
Formed
1960
Legal Domicile
Il
Voting Board Members
21
Independent Board Members
21
Employees
0

Preparer

Firm
Manning Silverman & Company
Address
175 Olde Half Day Road 290, Lincolnshire, IL 60069
Preparer
Joel Manning
Phone
8474598850
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“To account for fiscal sponsor liability = $4348”

Financial Statement Notes

Part IV, Line 1B: Why is organization an agent, trustee, custodian or other intermediary for contrib

“Lake county bar foundation serves as a fiscal sponsor for several organizations.”

Part IV, Line 2B: Explanation of escrow account liability

“The foundation maintains the bank accounts for the fiscal sponsors, but does not own the funds in those accounts. Therefore, the income and expense amounts are not included in the foundation income statement, and the net change in the custodial bank accounts is reported as a liability on the foundation balance sheet.”

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IRS990/MissionDesc0The Foundation was established in 1960 to promote the education of lawyers and advance the science of jurisprudence. The purposes of the Foundation are: (a) promoting the charitable, educational, scientific and literary mission of the Lake County Bar Association; (b) improving and facilitating the administration of justice; (c) promoting the study and research of law, the diffusion of legal knowledge and the continuing education of lawyers; (d) publishing and distributing addresses, reports, treatises and other literary works on legal subjects; (e) acquiring preserving and exhibiting rare books and documents, objects of art, and items of cultural or historical interest to the Lake County community and/or having legal significance or bearing on the administration of justice; (f) providing financial assistance to Lake County Bar Association (the Association) Attorney members in need as determined solely at the discretion of the Trustees of the Foundation (the Trustees); (g) purchasing, o
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,357,755
Liabilities
$402,586
Net assets
$955,169
Revenue
$95,424
Expenses
$112,228
Net income
-$16,804
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.77$0.23$1.53$0.50$0.13$0.37
2023Detailed filing. Detailed filing data is available for this year.$1.54$0.39$1.16$0.32$0.12$0.20
2022Detailed filing. Detailed filing data is available for this year.$1.37$0.40$0.97$0.14$0.11$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$0.40$0.96$0.10$0.11$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.41$0.45$0.96$0.07$0.10$0.03
2019Detailed filing. Detailed filing data is available for this year.$1.49$0.49$1.00$0.12$0.15$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.56$0.00$0.56$0.20$0.16$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.56$0.00$0.56$0.11