Civic Intelligence

Elks National Foundation Inc.

990 • Fiscal year 2018 • EIN 26-3718342

Apr 01, 2017 to Mar 31, 2018 • Filed on Jul 24, 2018

Organization Profilewww.elks.org/enf
2750 N Lakeview AvenueChicago, IL 60614

(773) 755-4728

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.11x

Higher debt load relative to assets than 22% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Liabilities / Revenue

86th percentile

1.88x

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

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Net Margin

90th percentile

36%

Higher net margin than 90% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

3rd percentile

$151,053

Higher top officer pay than 3% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Asset Growth

35th percentile

0.9%

Faster asset growth than 35% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Revenue Growth

91st percentile

46%

Faster revenue growth than 91% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Up

$785,467,177

Up $7,342,268 (+0.9%) from 2017

Net Assets

Up

$699,546,633

Up $43,163,699 (+6.6%) from 2017

Liabilities

Down

$85,920,544

Down $35,821,431 (-29%) from 2017

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin90th percentile

Revenue

Up

$45,805,924

Up $14,330,883 (+46%) from 2017

Expenses

Up

$29,455,323

Up $2,231,130 (+8.2%) from 2017

Net Income

Up

$16,350,601

Up $12,099,753 (+285%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$1.0B$500M$0Assets 2016: $732,579,927Liabilities 2016: $114,706,928Net Assets 2016: $617,872,9992016Assets 2017: $778,124,909Liabilities 2017: $121,741,975Net Assets 2017: $656,382,9342017Assets 2018: $785,467,177Liabilities 2018: $85,920,544Net Assets 2018: $699,546,6332018Assets 2019: $818,675,624Liabilities 2019: $106,823,679Net Assets 2019: $711,851,9452019Assets 2020: $756,361,026Liabilities 2020: $103,235,141Net Assets 2020: $653,125,8852020Assets 2021: $936,472,552Liabilities 2021: $103,469,181Net Assets 2021: $833,003,3712021Assets 2022: $925,414,359Liabilities 2022: $77,095,200Net Assets 2022: $848,319,1592022Assets 2023: $876,926,878Liabilities 2023: $94,692,774Net Assets 2023: $782,234,1042023Assets 2024: $925,982,127Liabilities 2024: $68,683,171Net Assets 2024: $857,298,9562024Assets 2025: $884,971,330Liabilities 2025: $11,956,070Net Assets 2025: $873,015,2602025

Highlighted filing

2018

Assets$785,467,177
Liabilities$85,920,544
Net Assets$699,546,633
Open 2018 Filing

Operations Trend

Revenue Growth91st percentile

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

$100M$50M$0-$50MRevenue 2016: $36,082,387Expenses 2016: $29,295,750Net Income 2016: $6,786,6372016Revenue 2017: $31,475,041Expenses 2017: $27,224,193Net Income 2017: $4,250,8482017Revenue 2018: $45,805,924Expenses 2018: $29,455,323Net Income 2018: $16,350,6012018Revenue 2019: $68,772,020Expenses 2019: $31,196,607Net Income 2019: $37,575,4132019Revenue 2020: $43,379,037Expenses 2020: $29,533,298Net Income 2020: $13,845,7392020Revenue 2021: $62,047,958Expenses 2021: $32,848,662Net Income 2021: $29,199,2962021Revenue 2022: $95,466,562Expenses 2022: $37,180,568Net Income 2022: $58,285,9942022Revenue 2023: $27,750,732Expenses 2023: $42,597,331Net Income 2023: -$14,846,5992023Revenue 2024: $37,385,570Expenses 2024: $40,244,595Net Income 2024: -$2,859,0252024Revenue 2025: $61,600,573Expenses 2025: $44,533,130Net Income 2025: $17,067,4432025

Highlighted filing

2018

Revenue$45,805,924
Expenses$29,455,323
Net Income$16,350,601
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2017 to Mar 31, 2018
Signed
Jul 24, 2018
Return Version
2017v2.2
Gross Receipts
$173,190,298
Mission and Program Overview

Mission

The foundation's mission is to help the benevolent and protective order of elks of the united states of america (bpoe) build stronger communities by offering college scholarships, funding programs that build the character and confidence of youth, serving and honoring veterans, and providing elks lodges and state associations with resources they need to accomplish their charitable objectives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$655,412,652$699,162,529▲ $43,749,877
Investments Other Securities$107,623,958$71,193,135▼ $36,430,823
Savings and Temporary Cash Investments$10,825,052$9,634,967▼ $1,190,085
Cash and Non-Interest-Bearing Accounts$684,681$1,062,544▲ $377,863
Pledges and Grants Receivable$722,135$266,928▼ $455,207
Prepaid Expenses and Deferred Charges$96,953$172,126▲ $75,173
Accounts Receivable$9,775$8,228▼ $1,547
Land, Buildings, and Equipment, Net-$6,019-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$778,124,909$785,467,177▲ $7,342,268
Other Assets Total$2,749,703$3,960,701▲ $1,210,998
Liabilities
Other Liabilities$108,590,443$72,099,064▼ $36,491,379
Grants Payable$12,271,496$12,994,596▲ $723,100
Accounts Payable and Accrued Expenses$880,036$826,884▼ $53,152
Total Liabilities$121,741,975$85,920,544▼ $35,821,431
Net Assets / Fund Balance
Unrestricted Net Assets$649,535,551$692,913,425▲ $43,377,874
Temporarily Rstr Net Assets$6,561,124$6,346,949▼ $214,175
Permanently Rstr Net Assets$286,259$286,259→ $0
Total Net Assets Fund Balance$656,382,934$699,546,633▲ $43,163,699
Total Liabilities and Net Assets / Fund Balance$778,124,909$785,467,177▲ $7,342,268

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,019$208$6,227

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$650,451,375$7,015,130▲ $64,178,609$2,692,580$692,913,425
2016$610,887,204$6,971,434▲ $57,407,007$1,553,607$649,535,551
2015$634,984,102$6,708,503▲ $2,851,162$284,381$617,872,999
2014$584,942,294$6,789,777▲ $40,516,095$966,539$609,752,291
2013$541,087,042$6,523,483▲ $61,189,970$2,965,310$584,942,294
Compensation and Service Providers
Top Officer Pay3rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James OKelley IIIDirectorFT$124,070$26,983$151,053

Board Members and Trustees

NameTitle
F Louis SulsbergerChairman
Louis J GrilloVice Chairman
Charles F WilliamsTrustee/Past Ch
Frank O GarlandAsst Secretary
C Valentine BatesAsst Treasurer
James M McQuillanSecretary
James W DamonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
JPMorgan Asset ManagementInvestment Advisor270 Park Avenue 7th Fl, New York, NY 10017$679,196
Bernzott Capital AdvisorsInvestment Advisor888 W Ventura Blvd Suite B, Camarillo, CA 93010$442,874
Sunny Day Entertainment IncDrug Prev Campaign2368 Achilles Drive, Los Angeles, CA 90046$420,000
Columbia ManagementInvestment Advisor227 W Monroe St Suite 3700, Chicago, IL 60606$306,131
Chicago Equity Partners LLCInvestment Advisor180 N LaSalle Street Suite 3800, Chicago, IL 60601$155,146
Revenue and Support

Revenue Composition

Contributions and Grants
$7,002,055
Program Service Revenue
$0
Investment Income
$38,623,865
Other Revenue
$180,004
All Other Contributions
$6,752,055
Change in Net Assets
$16,350,601

Audited Revenue Reconciliation

Revenue per Audited Statements
$43,383,867
Revenue Not Reported on Financial Statements
$2,422,057
Revenue Not Reported on Form 990
$28,319,331
Total Revenue per Audited Statements
$71,703,198
Total Revenue per Form 990
$45,805,924
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$24,716,409
Other Expenses$3,469,199
Salaries, Compensation, and Employee Benefits$1,269,715
Total Fundraising Expense$800,149
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$21,139,564--$21,139,564
Grants to Domestic Individuals$3,576,845--$3,576,845
Other Salaries and Wages$400,436$382,622$221,555$1,004,613
Travel$561,849$25,424$7,945$595,218
Fees for Services Other$386,233$25,862$12,570$424,665
Conferences and Meetings$306,697$31,434$45,303$383,434
Advertising$343,385$1,465$11,853$356,703
All Other Expenses$101,515$124,952$20,324$246,791
Other Expenses$122,332$9,730$78,474$200,806
Other Employee Benefits$59,323$58,955$24,070$142,348
Occupancy$4,200$130,332-$134,532
Payroll Taxes$31,304$29,531$17,760$78,595
Office Expenses$3,594$26,951$29,261$59,806
Pension Plan Contributions$18,307$17,372$8,480$44,159
Information Technology$1,483$35,309-$36,792
Depreciation Depletion-$208-$208
Total Functional Expenses$27,332,474$1,322,700$800,149$29,455,323

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$29,455,323
Total Expenses per Audited Statements$29,455,323
Total Expenses per Form 990$29,455,323
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Elks LodgesChicago, IL-Community Investment Programs$9,359,791
Elks State AssociationsChicago, IL-Grants$9,273,462
Elks National Vet Serv CommChicago, IL-Programs Support$2,110,452
Elks Vet Mem Restoration TrChicago, IL-General Support$395,859
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Collateral under Securities Lending Prog$72,099,064
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
Yes
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, Line 6: Explanation of Classes of Members or Shareholder

“The Foundation's board of trustees is appointed by the Grand Exalted Ruler (GER) of the Benevolent and Protective Order of Elks of the United States of America (BPOE). The GER is elected by the membership of the BPOE.”

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

“Form 990 is reviewed by the Director. The trustees of the board receive a copy of the Form 990 and any questions or comments that arise are discussed with the Director.”

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

“The Foundation maintains a written conflict of interest policy that is signed by each trustee upon joining the board. In addition, each trustee and the Foundation's officers are required to review the policy annually and sign a conflict of interest certification to acknowledge that the policy was reviewed. They are required to disclose all material facts of any actual or possible conflict of interest by themselves or their families to the Director and other trustees. The board of trustees, exclusive of the interested person, determines whether a conflict of interest exists and whether it is in the best interest of the Foundation to enter into the transaction or arrangement.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The Benevolent and Protective Order of Elks of the United States of America (BPOE) maintains a compensation committee that reviews annual salaries based on performance, cost of living adjustments and market data.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The Benevolent and Protective Order of Elks of the United States of America (BPOE) maintains a compensation committee that reviews annual salaries based on performance, cost of living adjustments and market data.”

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

“Requests for audited financial statements, tax returns, conflict of interest policy and governing documents are channeled through the Director and made available upon request.”

Filing and Contact Details

Filer

Filer Name
Elks National Foundation Inc
EIN
26-3718342
Phone
7737554728
Address
2750 N Lakeview Avenue, Chicago, IL 60614

Signing Officer

Name
James OKelley III
Title
Director
Signed
2018-07-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James OKelley III
Formed
1928
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
23
Volunteers
11,300

Preparer

Firm
FK Advisors
Address
600 Academy Drive Suite 140, Northbrook, IL 60062
Preparer
Jerry Fitzpatrick
Phone
8477706700
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

“OTHER PROGRAM SERVICES 4: The Foundation provided funds to the Elks Veterans Service Commission for various programs benefiting veterans. The Foundation also provided funds to the Elks Veterans Memorial Restoration Trust to help pay for needed maintenance and upkeep of the Elks Veteran Memorial. OTHER PROGRAM SERVICES 5: Other program expenses”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Change in Value of Split-Interest = $54000”

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

“The sole activity of the Foundation is the maintenance and operation of an endowment fund for the accumulation, administration, use, and disbursement of contributions, income, and appreciation in accordance with Section 501(c)(3) of the United States Internal Revenue Code, and related powers and purposes as set forth in the Foundations Articles of Incorporation.”

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Change in Value of Split-Interest $54000”

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IRS990/Form990PartVIISectionAGrp/PersonNm0Charles F Williams
IRS990/Form990PartVIISectionAGrp/PersonNm1F Louis Sulsberger
IRS990/Form990PartVIISectionAGrp/PersonNm2Louis J Grillo
IRS990/Form990PartVIISectionAGrp/PersonNm3James M McQuillan
IRS990/Form990PartVIISectionAGrp/PersonNm4Frank O Garland
IRS990/Form990PartVIISectionAGrp/PersonNm5C Valentine Bates
IRS990/Form990PartVIISectionAGrp/PersonNm6James W Damon
IRS990/Form990PartVIISectionAGrp/PersonNm7James OKelley III
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Vice Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Asst Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt5Asst Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt6Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0The Foundation's mission is to help the Benevolent and Protective Order of Elks of the United States of America (BPOE) build stronger communities by offering college scholarships, funding programs that build the character and confidence of youth, serving and honoring veterans, and providing Elks Lodges and State Associations with resources they need to accomplish their charitable objectives.
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt026951
IRS990/OfficeExpensesGrp/ProgramServicesAmt03594
IRS990/OfficeExpensesGrp/TotalAmt059806
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IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc2Printing and Publications
IRS990/OtherExpensesGrp/Desc3Awards and Recognition
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IRS990/OtherExpensesGrp/FundraisingAmt1173343
IRS990/OtherExpensesGrp/FundraisingAmt2131887
IRS990/OtherExpensesGrp/FundraisingAmt378474
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt29730
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IRS990/OtherExpensesGrp/ProgramServicesAmt2137130
IRS990/OtherExpensesGrp/ProgramServicesAmt3122332
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IRS990/OtherExpensesGrp/TotalAmt1345825
IRS990/OtherExpensesGrp/TotalAmt2278747
IRS990/OtherExpensesGrp/TotalAmt3200806
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IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt017760
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt029531
IRS990/PayrollTaxesGrp/ProgramServicesAmt031304
IRS990/PayrollTaxesGrp/TotalAmt078595
IRS990/PensionPlanContributionsGrp/FundraisingAmt08480
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt017372
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt018307
IRS990/PensionPlanContributionsGrp/TotalAmt044159
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IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0286259
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0172126
IRS990/PrincipalOfficerNm0James OKelley III
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IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0The Foundation provided grants to the Elks State Associations to help fund their charitable activities. These activities include medical care and research, in-home treatment for children with disabilities, youth camps, shelters for abused women, and state level programs consistent with those provided by the Foundation.
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt09273462
IRS990/ProgSrvcAccomActy3Grp/Desc0The Foundation provided one to four year academic scholarships up to $15,000 per year to approximately 3,000 individuals for the purpose of undergraduate or graduate education.
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$785,467,177
Liabilities
$85,920,544
Net assets
$699,546,633
Revenue
$45,805,924
Expenses
$29,455,323
Net income
$16,350,601
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$885$12.0$873$61.6$44.5$17.1
2024Detailed filing. Detailed filing data is available for this year.$926$68.7$857$37.4$40.2$2.86
2023Detailed filing. Detailed filing data is available for this year.$877$94.7$782$27.8$42.6$14.8
2022Detailed filing. Detailed filing data is available for this year.$925$77.1$848$95.5$37.2$58.3
2021Detailed filing. Detailed filing data is available for this year.$936$103$833$62.0$32.8$29.2
2020Detailed filing. Detailed filing data is available for this year.$756$103$653$43.4$29.5$13.8
2019Detailed filing. Detailed filing data is available for this year.$819$107$712$68.8$31.2$37.6
2018Detailed filing. Detailed filing data is available for this year.$785$85.9$700$45.8$29.5$16.4
2017Detailed filing. Detailed filing data is available for this year.$778$122$656$31.5$27.2$4.25
2016Detailed filing. Detailed filing data is available for this year.$733$115$618$36.1$29.3$6.79