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.”
990 • Fiscal year 2022 • EIN 35-2334171
Refreshing map…
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Assets
Down$619,322
Down $133,266 (-18%) from 2021
Net Assets
Down$500,246
Down $175,307 (-26%) from 2021
Liabilities
Up$119,076
Up $42,041 (+55%) from 2021
Revenue
Down$281,070
Down $152,916 (-35%) from 2021
Expenses
Up$325,932
Up $16,120 (+5.2%) from 2021
Net Income
Down-$44,862
Down $169,036 (-136%) from 2021
To enhance awareness and increase resources for illinois based research and development.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $53,239 | $136,504 | ▲ $83,265 |
| Cash and Non-Interest-Bearing Accounts | $193,816 | $132,982 | ▼ $60,834 |
| Accounts Receivable | $63,333 | $8,677 | ▼ $54,656 |
| Prepaid Expenses and Deferred Charges | - | $6,675 | - |
| 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 | - |
| Total Assets | $746,138 | $619,322 | ▼ $126,816 |
| Other Assets Total | $435,750 | $334,484 | ▼ $101,266 |
| Liabilities | |||
| Unsecured Notes Loans Payable | $80,760 | - | - |
| Accounts Payable and Accrued Expenses | $71,835 | $59,860 | ▼ $11,975 |
| Deferred Revenue | $2,250 | $59,216 | ▲ $56,966 |
| Total Liabilities | $154,845 | $119,076 | ▼ $35,769 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $591,293 | $500,246 | ▼ $91,047 |
| Total Net Assets Fund Balance | $591,293 | $500,246 | ▼ $91,047 |
| Total Liabilities and Net Assets / Fund Balance | $746,138 | $619,322 | ▼ $126,816 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Other Assets Org | $4,500 | - | - |
| Name | Title |
|---|---|
| Laura Apenzeller | Board Chair |
| James Gillespie | Vice Chair |
| Bill Payne | Director |
| Bob Greenlee | Director |
| Jerry Blazey | Director |
| Jess Goode | Director |
| Jim Bray | Director |
| Jose Leboreiro | Director |
| Kumar Natesaiyer | Director |
| Larry Kuhn | Director |
| Robert Patino | Director |
| Temitope Sadiku | Director |
| Tj Augustine | Director |
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $193,020 |
| Other Expenses | $132,912 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $119,064 | $44,889 | - | $163,953 |
| Fees for Services Other | $8,393 | $23,915 | - | $32,308 |
| Occupancy | $19,455 | $8,338 | - | $27,793 |
| Other Employee Benefits | $12,334 | $5,286 | - | $17,620 |
| Payroll Taxes | $8,013 | $3,434 | - | $11,447 |
| Other Expenses | $5,000 | $2,059 | - | $7,059 |
| All Other Expenses | $5,675 | - | - | $5,675 |
| Fees for Service Investment Mgmnt Fees | - | $4,827 | - | $4,827 |
| Information Technology | - | $2,474 | - | $2,474 |
| Office Expenses | $548 | $803 | - | $1,351 |
| Travel | $1,268 | - | - | $1,268 |
| Advertising | - | $881 | - | $881 |
| Conferences and Meetings | - | $532 | - | $532 |
| Interest | - | $396 | - | $396 |
| Total Functional Expenses | $225,507 | $100,425 | $0 | $325,932 |
| Line Item | Amount |
|---|---|
| Total Expenses per Form 990 | $325,932 |
| Expenses per Audited Statements | $321,105 |
| Total Expenses per Audited Statements | $321,105 |
| Expenses Not Reported on Financial Statements | $4,827 |
| Other Expense Adjustments | $4,827 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Receivables from Disqualified Persons | - | $0 | - |
| Receivables from Officers, Directors, Trustees, and Key Employees | - | $0 | - |
“The tax returns are reviewed at the quarterly meeting nearest the due date of the tax return.”
“Compensation for the ceo is reviewed and approved by the board of directors annually.”
“Compensation for the ceo is reviewed and approved by the board of directors annually.”
“Governing documents are made available upon request.”
“The organization amended its tax return after finalizing its 2022 audit.”
“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.”
“Investment management fees $4827”
“Investment management fees $4827”
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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|---|---|---|
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| IRS990/FamilyOrBusinessRlnInd | 0 | true |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | TJ AUGUSTINE |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | JERRY BLAZEY |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | JIM BRAY |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | JESS GOODE |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | BOB GREENLEE |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | LARRY KUHN |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 8 | JOSE LEBOREIRO |
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| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 9954 |
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| IRS990/LoanOutstandingInd | 0 | false |
| IRS990/LocalChaptersInd | 0 | false |
| IRS990/MaterialDiversionOrMisuseInd | 0 | false |
| IRS990/MembersOrStockholdersInd | 0 | false |
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| IRS990/MissionDesc | 0 | TO ENHANCE AWARENESS AND INCREASE RESOURCES FOR ILLINOIS BASED RESEARCH AND DEVELOPMENT. |
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| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 8338 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 19455 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 27793 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 803 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 548 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 1351 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501cInd | 0 | X |
| IRS990/OrganizationFollowsFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 435750 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 334484 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 5286 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 12334 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 17620 |
| IRS990/OtherExpensesGrp/Desc | 0 | Internship |
| IRS990/OtherExpensesGrp/Desc | 1 | Licenses & Fees |
| IRS990/OtherExpensesGrp/Desc | 2 | Utilities |
| IRS990/OtherExpensesGrp/Desc | 3 | MEMBERSHIPS |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 2591 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 2059 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 25961 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 13750 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 6046 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 5000 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 25961 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 13750 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 8637 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 7059 |
| IRS990/OtherRevenueTotalAmt | 0 | 0 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 44889 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 119064 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 163953 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 0 |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PaymentsToAffiliatesGrp/TotalAmt | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 3434 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 8013 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 11447 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 0 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 0 |
| IRS990/PoliticalCampaignActyInd | 0 | false |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 6675 |
| IRS990/PrincipalOfficerNm | 0 | LAURA APENZELLER |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | MEMBERSHIP DUES |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | PROGRAM FEES |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 145000 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 11083 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 145000 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 11083 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYContributionsGrantsAmt | 0 | 15000 |
| IRS990/PYInvestmentIncomeAmt | 0 | 16309 |
| IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt | 0 | 0 |
| IRS990/PYOtherExpensesAmt | 0 | 69663 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 321917 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 39914 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 243649 |
| IRS990/PYTotalExpensesAmt | 0 | 313312 |
| IRS990/PYTotalRevenueAmt | 0 | 353226 |
| IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt | 0 | 0 |
| IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -44862 |
| IRS990/RelatedEntityInd | 0 | true |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | false |
| IRS990/ReportOtherAssetsInd | 0 | true |
| IRS990/ReportOtherLiabilitiesInd | 0 | false |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990/RevenueAmt | 0 | 156083 |
| IRS990/RoyaltiesGrp/TotalAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 53239 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 136504 |
| IRS990/ScheduleBRequiredInd | 0 | false |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 4827 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 321105 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 38784 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 1 | 4500 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | DUE FROM AFFILIATE |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | SECURITY DEPOSITS |
| IRS990ScheduleD/OtherExpensesNotIncludedAmt | 0 | 4827 |
| IRS990ScheduleD/OtherRevenueAmt | 0 | -46185 |
| IRS990ScheduleD/OtherRevenuesNotIncludedAmt | 0 | 4827 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | -46185 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 4827 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 276243 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | 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. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | INVESTMENT MANAGEMENT FEES $4827 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | INVESTMENT MANAGEMENT FEES $4827 |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Part X : FIN48 Footnote |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 334484 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 325932 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 281070 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 230058 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 321105 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE TAX RETURNS ARE REVIEWED AT THE QUARTERLY MEETING NEAREST THE DUE DATE OF THE TAX RETURN. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | COMPENSATION FOR THE CEO IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS ANNUALLY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | COMPENSATION FOR THE CEO IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS ANNUALLY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE ORGANIZATION AMENDED ITS TAX RETURN AFTER FINALIZING ITS 2022 AUDIT. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part VI, Line 11b: Form 990 Review Process |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Line 19: Other Organization Documents Publicly Available |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Amended Explanation |
| IRS990ScheduleR/AssetExchangeInd | 0 | false |
| IRS990ScheduleR/AssetPurchaseFromOtherOrgInd | 0 | false |
| IRS990ScheduleR/AssetSaleToOtherOrgInd | 0 | false |
| IRS990ScheduleR/DivRelatedOrganizationInd | 0 | false |
| IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd | 0 | false |
| IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd | 0 | false |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 0 | false |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt | 0 | NA |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt | 0 | ILLINOIS SCIENCE TECHNOLOGY INSTITUTE |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN | 0 | 454092094 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt | 0 | 501C3 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd | 0 | IL |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt | 0 | GRANT SUPPORT |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt | 0 | 7 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt | 0 | 20 N WACKER DRIVE 1200 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm | 0 | CHICAGO |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd | 0 | IL |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd | 0 | 60606 |
| IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd | 0 | false |
| IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd | 0 | true |
| IRS990ScheduleR/PaidEmployeesSharingInd | 0 | false |
| IRS990ScheduleR/PerformOfServicesByOtherOrgInd | 0 | false |
| IRS990ScheduleR/PerformOfServicesForOthOrgInd | 0 | false |
| IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd | 0 | false |
| IRS990ScheduleR/ReimbursementPaidByOtherOrgInd | 0 | false |
| IRS990ScheduleR/ReimbursementPaidToOtherOrgInd | 0 | false |
| IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd | 0 | false |
| IRS990ScheduleR/RentalOfFcltsFromOthOrgInd | 0 | false |
| IRS990ScheduleR/SharingOfFacilitiesInd | 0 | false |
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Displayed year
2022 • Form 990Detailed filing. Detailed filing data is available for this year.