Civic Intelligence

Illinois S O Foundation

990 • Fiscal year 2021 • EIN 26-0138534

Jan 01, 2021 to Dec 31, 2021 • Filed on Sep 01, 2022

Organization ProfileWWW.SOILL.ORG/ILSO-FOUNDATION
605 E Willow StreetNormal, IL 61761

(309) 888-2551

Siviq Scores

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

Liabilities / Assets

29th percentile

0.01x

Higher debt load relative to assets than 29% of similar nonprofits.

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

Liabilities / Revenue

32nd percentile

0.02x

Higher debt load relative to revenue than 32% of similar nonprofits.

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

Net Margin

99th percentile

98%

Higher net margin than 99% 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

91st percentile

77%

Faster asset growth than 91% of similar nonprofits.

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

Revenue Growth

98th percentile

616%

Faster revenue growth than 98% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$3,318,070

Up $1,445,382 (+77%) from 2020

Net Assets

Up

$3,290,158

Up $1,424,740 (+76%) from 2020

Liabilities

Up

$27,912

Up $20,642 (+284%) from 2020

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin99th percentile

Revenue

Up

$1,222,417

Up $1,051,649 (+616%) from 2020

Expenses

Down

$26,482

Down $647,362 (-96%) from 2020

Net Income

Up

$1,195,935

Up $1,699,011 (+338%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$6.0M$4.0M$2.0M$0Assets 2017: $815,157Liabilities 2017: $1,471Net Assets 2017: $813,6862017Assets 2018: $854,833Liabilities 2018: $0Net Assets 2018: $854,8332018Assets 2019: $2,154,315Liabilities 2019: $0Net Assets 2019: $2,154,3152019Assets 2020: $1,872,688Liabilities 2020: $7,270Net Assets 2020: $1,865,4182020Assets 2021: $3,318,070Liabilities 2021: $27,912Net Assets 2021: $3,290,1582021Assets 2022: $3,902,151Liabilities 2022: $1,668Net Assets 2022: $3,900,4832022Assets 2023: $4,643,345Liabilities 2023: $23,072Net Assets 2023: $4,620,2732023Assets 2024: $5,151,587Liabilities 2024: $24,126Net Assets 2024: $5,127,4612024

Highlighted filing

2021

Assets$3,318,070
Liabilities$27,912
Net Assets$3,290,158
Open 2021 Filing

Operations Trend

Revenue Growth98th percentile

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2017: $170,593Expenses 2017: $82,028Net Income 2017: $88,5652017Revenue 2018: $185,900Expenses 2018: $79,559Net Income 2018: $106,3412018Revenue 2019: $1,245,744Expenses 2019: $79,082Net Income 2019: $1,166,6622019Revenue 2020: $170,768Expenses 2020: $673,844Net Income 2020: -$503,0762020Revenue 2021: $1,222,417Expenses 2021: $26,482Net Income 2021: $1,195,9352021Revenue 2022: $1,210,156Expenses 2022: $45,473Net Income 2022: $1,164,6832022Revenue 2023: $324,508Expenses 2023: $39,838Net Income 2023: $284,6702023Revenue 2024: $328,089Expenses 2024: $230,929Net Income 2024: $97,1602024

Highlighted filing

2021

Revenue$1,222,417
Expenses$26,482
Net Income$1,195,935
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Sep 1, 2022
Return Version
2021v4.2
Gross Receipts
$1,271,735
Mission and Program Overview

Mission

Illinois s.o. Foundation is an illinois nonprofit corporation that was formed by special olympics illinois, inc. To support their mission of providing a variety of olympic-type sports for peole with intellectual disabilities.

The foundation was set up to help support special olympics of illinois.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,668,764$2,674,693▲ $1,005,929
Accounts Receivable$45,000$528,825▲ $483,825
Cash and Non-Interest-Bearing Accounts$158,924$114,552▼ $44,372
Total Assets$1,872,688$3,318,070▲ $1,445,382
Liabilities
Accounts Payable and Accrued Expenses$7,270$27,912▲ $20,642
Total Liabilities$7,270$27,912▲ $20,642
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,459,610$2,304,906▲ $845,296
Net Assets With Donor Restrictions$405,808$985,252▲ $579,444
Total Net Assets Fund Balance$1,865,418$3,290,158▲ $1,424,740
Total Liabilities and Net Assets / Fund Balance$1,872,688$3,318,070▲ $1,445,382

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$370,808$35,000▲ $65,619-$471,427
2020$307,549$25,000▲ $38,259-$370,808
2019$230,995$35,000▲ $45,354-$307,549
2018$243,196-▼ $9,601-$230,995
2017$211,472$2,250▲ $30,974-$243,196
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Jamie ParisiChair
Don GereauImmediate Past Chair
David ShaneVice Chair
Bob DimeoBoard Member
Brian CarlsonBoard Member
Brook KlawitterBoard Member
Charles SchmadekeBoard Member
Christine DuffyBoard Member
Dan LangeBoard Member
Hub ArkushBoard Member
Jeff MccluskyBoard Member
Julie GustafsonBoard Member
Mary Anne EhlertBoard Member
Menjinder BhambraBoard Member
Stephen BergmanBoard Member
Sue FlottBoard Member
Tom ThompsonBoard Member
Ed RaffertySecretary
Brian SchellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,157,743
Program Service Revenue
$0
Investment Income
$72,813
Other Revenue
$-8,139
All Other Contributions
$1,116,100
Change in Net Assets
$1,195,935

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,216,729
Revenue Not Reported on Financial Statements
$5,688
Revenue Not Reported on Form 990
$249,190
Total Revenue per Audited Statements
$1,465,919
Total Revenue per Form 990
$1,222,417
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$15,172
Grants and Similar Amounts Paid$11,310
Total Fundraising Expense$2,528
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$11,310--$11,310
Fees for Service Investment Mgmnt Fees-$5,688-$5,688
Fees for Services Other-$5,500-$5,500
Other Expenses$1,092$364$343$343
Total Functional Expenses$12,402$11,552$2,528$26,482

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$41,179
Total Expenses per Form 990$26,482
Expenses per Audited Statements$20,794
Expenses Not Reported on Form 990$20,385
Expenses Not Reported on Financial Statements$5,688
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Special Olympics of IllinoisNormal, IL501(c)(3)Provide Assistance to the Organization$11,310
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$49,318
Fundraising Gross Income$41,179
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Event$82,822$41,179$1,020$40,159
Total Events$82,822$41,179$49,318$-8,139
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
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The board of directors will review the 990 before filing.”

Form 990, Part VI, Section B, Line 12C

“All directors will disclose to the board of directors any possible conflict of interest at the earliest practicable time. No director will vote on any matter under consideration at a board or committee meeting in which such director has a conflict of interest. The minutes of such a meeting will reflect that disclosure was made and that the director having the conflict of interest abstained from voting. Any director who is uncertain whether a conflict of interest may exist in any matter may request the board of directors or committee to resolve the question by majority vote.”

Form 990, Part VI, Section C, Line 19

“All documents and policies are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Illinois So Foundation
EIN
26-0138534
Phone
3098882551
Address
605 E WILLOW STREET, NORMAL, IL 61761

Signing Officer

Name
Jamie Parisi
Title
Chair
Phone
3098882551
Signed
2022-09-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jamie Parisi
Formed
2008
Legal Domicile
Il
Voting Board Members
19
Independent Board Members
19
Employees
0
Volunteers
19

Preparer

Firm
Sikich Llp
Address
3051 HOLLIS DRIVE 3RD FLOOR, SPRINGFIELD, IL 62704
Preparer
Jill M Boyle CPA
Phone
2177933363
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other professional fees: program service expenses 0. Management and general expenses 5,500. Fundraising expenses 0. Total expenses 5,500.”

Financial Statement Notes

PART X, LINE 2:

“Special olympics illinois, as a charitable foundation, is exempt from federal and state income taxes under section 501(c)(3) of the internal revenue code and similar provisions of state tax laws. The foundation was classified as a 509(a)(3) exempt private foundation. The foundation was subject to an excise tax on net investment income in accordance with the tax reform act of 1969 (the act). The act also required that certain minimum distributions, including qualified set-asides, be made each year based on the level of assets during the preceding year. The amount of these qualified distributions is determined in accordance with a specified formula. If the required level of qualified distributions is not made within a year, an additional excise tax is imposed on the foundation. The foundation made proper qualified distributions for the years ended december 31, 2020 and satisfied the required distributions as computed. During 2021 the foundation applied for public charity tax exempt status and was awarded this status effective for the year ended december 31, 2021. The foundation is now classified as an organization that is not a private foundation.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Special event expenses listed on soa 8,139.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Special event expenses listed on soa 8,139.”

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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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IRS990/GrantsToDomesticOrgsGrp/TotalAmt011310
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt01271735
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt019
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt072813
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt072813
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt01668764
IRS990/InvestmentsPubTradedSecGrp/EOYAmt02674693
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0IL
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0ILLINOIS S.O. FOUNDATION IS AN ILLINOIS NONPROFIT CORPORATION THAT WAS FORMED BY SPECIAL OLYMPICS ILLINOIS, INC. TO SUPPORT THEIR MISSION OF PROVIDING A VARIETY OF OLYMPIC-TYPE SPORTS FOR PEOLE WITH INTELLECTUAL DISABILITIES.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01865418
IRS990/NetAssetsOrFundBalancesEOYAmt03290158
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0-8139
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0-8139
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0228805
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01459610
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt02304906
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0HOSPITALITY
IRS990/OtherExpensesGrp/Desc1PRINTING AND PUBLICATIO
IRS990/OtherExpensesGrp/FundraisingAmt02185
IRS990/OtherExpensesGrp/FundraisingAmt1343
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0364
IRS990/OtherExpensesGrp/ProgramServicesAmt01092
IRS990/OtherExpensesGrp/TotalAmt03641
IRS990/OtherExpensesGrp/TotalAmt1343
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0JAMIE PARISI
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0110080
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0634805
IRS990/PYInvestmentIncomeAmt036928
IRS990/PYOtherExpensesAmt039039
IRS990/PYOtherRevenueAmt023760
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-503076
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0673844
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0170768
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01195935
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME - 2017 AMOUNT: $ 39,084. 2018 AMOUNT: $ 44,301. 2019 AMOUNT: $ 40,317. 2020 AMOUNT: $ 26,260.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01157743
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt099130
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01176470
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0109256
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0109356
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02651955
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt072813
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt036928
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt028957
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt032343
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt022153
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0193194
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt026260
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt040317
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt044301
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt039084
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0149962
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.88540
IRS990ScheduleA/PublicSupportPY170Pct00.84420
IRS990ScheduleA/PublicSupportTotal170Amt02651857
IRS990ScheduleA/SubstantialContributorsTotAmt098
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01157743
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt099130
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01176470
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0109256
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0109356
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02651955
IRS990ScheduleA/TotalSupportAmt02995111
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.35701
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0370808
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt035000
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0471427
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt065619
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0307549
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt025000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0370808
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt038259
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt03800
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0230995
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt035000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0307549
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt045354
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt02600
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0243196
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0230995
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-9601
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt01500
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0211472
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt02250
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0243196
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt030974
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt012246
IRS990ScheduleD/DonatedServicesUseFcltsAmt012246
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt020385
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt05688
IRS990ScheduleD/ExpensesSubtotalAmt020794
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt05688
IRS990ScheduleD/InvestmentExpensesNotIncldAmt05688
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0228805
IRS990ScheduleD/OtherExpensesIncludedAmt08139
IRS990ScheduleD/OtherRevenueAmt08139
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.39319
IRS990ScheduleD/RevenueNotReportedAmt0249190
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt05688
IRS990ScheduleD/RevenueSubtotalAmt01216729
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SPECIAL OLYMPICS ILLINOIS, AS A CHARITABLE FOUNDATION, IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SIMILAR PROVISIONS OF STATE TAX LAWS. THE FOUNDATION WAS CLASSIFIED AS A 509(A)(3) EXEMPT PRIVATE FOUNDATION. THE FOUNDATION WAS SUBJECT TO AN EXCISE TAX ON NET INVESTMENT INCOME IN ACCORDANCE WITH THE TAX REFORM ACT OF 1969 (THE ACT). THE ACT ALSO REQUIRED THAT CERTAIN MINIMUM DISTRIBUTIONS, INCLUDING QUALIFIED SET-ASIDES, BE MADE EACH YEAR BASED ON THE LEVEL OF ASSETS DURING THE PRECEDING YEAR. THE AMOUNT OF THESE QUALIFIED DISTRIBUTIONS IS DETERMINED IN ACCORDANCE WITH A SPECIFIED FORMULA. IF THE REQUIRED LEVEL OF QUALIFIED DISTRIBUTIONS IS NOT MADE WITHIN A YEAR, AN ADDITIONAL EXCISE TAX IS IMPOSED ON THE FOUNDATION. THE FOUNDATION MADE PROPER QUALIFIED DISTRIBUTIONS FOR THE YEARS ENDED DECEMBER 31, 2020 AND SATISFIED THE REQUIRED DISTRIBUTIONS AS COMPUTED. DURING 2021 THE FOUNDATION APPLIED FOR PUBLIC CHARITY TAX EXEMPT STATUS AND WAS AWARDED THIS STATUS EFFECTIVE FOR THE YEAR ENDED DECEMBER 31, 2021. THE FOUNDATION IS NOW CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1SPECIAL EVENT EXPENSES LISTED ON SOA 8,139.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2SPECIAL EVENT EXPENSES LISTED ON SOA 8,139.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.24980
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt026482
IRS990ScheduleD/TotalRevenuePerForm990Amt01222417
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01465919
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt041179
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt041643
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt041643
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt049318
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF EVENT
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt082822
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt082822
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt041179
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt041179

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,318,070
Liabilities
$27,912
Net assets
$3,290,158
Revenue
$1,222,417
Expenses
$26,482
Net income
$1,195,935
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.15$0.02$5.13$0.33$0.23$0.10
2023Detailed filing. Detailed filing data is available for this year.$4.64$0.02$4.62$0.32$0.04$0.28
2022Detailed filing. Detailed filing data is available for this year.$3.90$0.00$3.90$1.21$0.05$1.16
2021Detailed filing. Detailed filing data is available for this year.$3.32$0.03$3.29$1.22$0.03$1.20
2020Detailed filing. Detailed filing data is available for this year.$1.87$0.01$1.87$0.17$0.67$0.50
2019Detailed filing. Detailed filing data is available for this year.$2.15$0.00$2.15$1.25$0.08$1.17
2018Detailed filing. Detailed filing data is available for this year.$0.85$0.00$0.85$0.19$0.08$0.11
2017Detailed filing. Detailed filing data is available for this year.$0.82$0.00$0.81$0.17$0.08$0.09