Civic Intelligence

Illinois Science and Technology Coalition

990 • Fiscal year 2021 • EIN 35-2334171

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2022

Refreshing map…

20 N Wacker Drive 1200Chicago, IL 60606

(312) 239-0324

Siviq Scores

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

Liabilities / Assets

56th percentile

0.10x

Higher debt load relative to assets than 56% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

63rd percentile

0.18x

Higher debt load relative to revenue than 63% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Net Margin

82nd percentile

29%

Higher net margin than 82% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

46th percentile

$0

Higher top officer pay than 46% of similar nonprofits.

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

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Asset Growth

65th percentile

19%

Faster asset growth than 65% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

94th percentile

123%

Faster revenue growth than 94% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Up

$752,588

Up $9,740 (+1.3%) from 2019

Net Assets

Up

$675,553

Up $54,715 (+8.8%) from 2019

Liabilities

Down

$77,035

Down $44,975 (-37%) from 2019

Revenue

Up

$433,986

Up $255,387 (+143%) from 2019

Expenses

Down

$309,812

Down $58,995 (-16%) from 2019

Net Income

Up

$124,174

Up $314,382 (+165%) from 2019

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2012: $3,484,868Liabilities 2012: $3,280,961Net Assets 2012: $203,9072012Assets 2013: $2,581,852Liabilities 2013: $2,290,059Net Assets 2013: $291,7932013Assets 2014: $2,159,887Liabilities 2014: $1,763,547Net Assets 2014: $396,3402014Assets 2016: $2,014,284Liabilities 2016: $1,579,845Net Assets 2016: $434,4392016Assets 2017: $1,783,195Liabilities 2017: $1,378,670Net Assets 2017: $404,5252017Assets 2018: $893,293Liabilities 2018: $99,585Net Assets 2018: $793,7082018Assets 2019: $742,848Liabilities 2019: $122,010Net Assets 2019: $620,8382019Assets 2021: $752,588Liabilities 2021: $77,035Net Assets 2021: $675,5532021Assets 2022: $628,074Liabilities 2022: $127,828Net Assets 2022: $500,2462022Assets 2023: $585,402Liabilities 2023: $132,135Net Assets 2023: $453,2672023Assets 2024: $903,863Liabilities 2024: $779,627Net Assets 2024: $124,2362024

Highlighted filing

2021

Assets$752,588
Liabilities$77,035
Net Assets$675,553

Operations Trend

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

$2.0M$1.0M$0-$1.0MExpenses 2012: $1,251,6242012Expenses 2013: $1,164,9272013Revenue 2014: $1,889,035Expenses 2014: $1,784,511Net Income 2014: $104,5242014Revenue 2016: $1,053,196Expenses 2016: $1,064,113Net Income 2016: -$10,9172016Revenue 2017: $570,809Expenses 2017: $600,723Net Income 2017: -$29,9142017Revenue 2018: $895,496Expenses 2018: $506,901Net Income 2018: $388,5952018Revenue 2019: $178,599Expenses 2019: $368,807Net Income 2019: -$190,2082019Revenue 2021: $433,986Expenses 2021: $309,812Net Income 2021: $124,1742021Revenue 2022: $282,297Expenses 2022: $325,933Net Income 2022: -$43,6362022Revenue 2023: $381,498Expenses 2023: $427,534Net Income 2023: -$46,0362023Revenue 2024: $460,955Expenses 2024: $824,701Net Income 2024: -$363,7462024

Highlighted filing

2021

Revenue$433,986
Expenses$309,812
Net Income$124,174
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.0
Gross Receipts
$433,986
Mission and Program Overview

Mission

To enhance awareness and increase resources for illinois based research and development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$58,834$193,816▲ $134,982
Accounts Receivable$100,000$63,333▼ $36,667
Savings and Temporary Cash Investments$133,394$57,163▼ $76,231
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$630,316$752,588▲ $122,272
Other Assets Total$338,088$438,276▲ $100,188
Liabilities
Accounts Payable and Accrued Expenses$50,517$71,835▲ $21,318
Deferred Revenue$17,083$5,200▼ $11,883
Total Liabilities$67,600$77,035▲ $9,435
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$562,716$675,553▲ $112,837
Total Net Assets Fund Balance$562,716$675,553▲ $112,837
Total Liabilities and Net Assets / Fund Balance$630,316$752,588▲ $122,272

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$8,000--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Laura FrerichsBoard Chair
James GillespieVice Chair
Bill PayneDirector
Bob GreenleeDirector
Geoff CurtisDirector
Jerry BlazeyDirector
Jess GoodeDirector
Jim BrayDirector
Jos LeboreiroDirector
Kumar NatesaiyerDirector
Larry KuhnDirector
Robert PatinoDirector
TJ AugustineDirector
Temitope SadikuDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$95,760
Program Service Revenue
$321,917
Investment Income
$16,309
Other Revenue
$0
All Other Contributions
$15,000
Change in Net Assets
$124,174

Audited Revenue Reconciliation

Revenue per Audited Statements
$433,986
Total Revenue per Audited Statements
$433,986
Total Revenue per Form 990
$433,986
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$243,646
Other Expenses$66,166
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$207,899
Other Employee Benefits---$35,747
Fees for Services Other---$24,104
Occupancy---$15,925
Fees for Service Investment Mgmnt Fees---$4,977
Fees for Services Accounting---$4,900
Information Technology---$4,700
Other Expenses---$1,842
Office Expenses---$693
Interest---$179
Travel---$89
Total Functional Expenses$0$0$0$309,812

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$309,812
Total Expenses per Audited Statements$309,812
Total Expenses per Form 990$309,812
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
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
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, Line 11B: Form 990 Review Process

The tax returns are reviewed at the quarterly meeting nearest the due date of the tax return.

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

Compensation for the ceo is reviewed and approved by the board of directors annually.

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

Compensation for the ceo is reviewed and approved by the board of directors annually.

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

Governing documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Illinois Science and Technology
EIN
35-2334171
Phone
3122390324
Address
20 N Wacker Drive 1200, CHICAGO, IL 60606

Signing Officer

Name
Laura Frerichs
Title
Board Chair
Signed
2022-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laura Frerichs
Formed
2008
Legal Domicile
Il
Voting Board Members
14
Independent Board Members
14
Employees
11
Volunteers
14

Preparer

Firm
Il Nfp Audit and Tax Llp
Address
564 W RANDOLPH STREET SUITE 200, CHICAGO, IL 60661
Preparer
Alfredo Rodriguez CPA
Phone
3129985500
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

Fin 48 - the organization is exempt from federal and state income taxes under section 501 (c) (6) of the internal revenue code; therefore, the financial statements do not include a provision for income taxes. The organization reviews income tax positions taken or expected to be taken in income tax returns to determine if there are any income tax uncertainties. This includes positions that the entity is exempt from income taxes or not subject to income taxes on unrelated business income. The organization recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by taking authorities, based on the technical merits of the positions. The organization files information returns as a tax-exempt organization. Should that status be challenged in the future, all years since inception could be subject to review by the irs.

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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TAX RETURNS ARE REVIEWED AT THE QUARTERLY MEETING NEAREST THE DUE DATE OF THE TAX RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COMPENSATION FOR THE CEO IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION FOR THE CEO IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
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IRS990/USAddress/AddressLine1Txt020 N Wacker Drive 1200
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Laura Frerichs
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ILLINOIS SCIENCE AND TECHNOLOGY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COALITION
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