Civic Intelligence

Shimer College

990 • Fiscal year 2021 • EIN 36-2167921

Jul 01, 2020 to Jun 30, 2021 • Filed on May 11, 2022

Organization ProfileWWW.SHIMER.EDU

View Organization Page

200 South Wacker Drive No 1700Chicago, IL 60606

(312) 235-3515

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

1st percentile

-8777%

Higher net margin than 1% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

33rd percentile

-3.9%

Faster asset growth than 33% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

15th percentile

-56%

Faster revenue growth than 15% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$470,223

Down $19,046 (-3.9%) from 2020

Net Assets

Down

$470,223

Down $19,046 (-3.9%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin1st percentile

Revenue

Down

$217

Down $276 (-56%) from 2020

Expenses

Up

$19,263

Up $15,911 (+475%) from 2020

Net Income

Down

-$19,046

Down $16,187 (-566%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $4,768,080Liabilities 2010: $1,672,851Net Assets 2010: $3,095,2292010Assets 2011: $5,409,619Liabilities 2011: $1,552,928Net Assets 2011: $3,856,6912011Assets 2012: $5,389,286Liabilities 2012: $1,530,687Net Assets 2012: $3,858,5992012Assets 2013: $5,717,298Liabilities 2013: $1,664,411Net Assets 2013: $4,052,8872013Assets 2014: $6,116,385Liabilities 2014: $1,623,793Net Assets 2014: $4,492,5922014Assets 2015: $6,194,680Liabilities 2015: $1,604,677Net Assets 2015: $4,590,0032015Assets 2016: $6,129,641Liabilities 2016: $1,572,095Net Assets 2016: $4,557,5462016Assets 2017: $5,241,449Liabilities 2017: $389,271Net Assets 2017: $4,852,1782017Assets 2018: $4,983,393Liabilities 2018: $389,271Net Assets 2018: $4,594,1222018Assets 2019: $4,499,506Liabilities 2019: $0Net Assets 2019: $4,499,5062019Assets 2020: $489,269Liabilities 2020: $0Net Assets 2020: $489,2692020Assets 2021: $470,223Liabilities 2021: $0Net Assets 2021: $470,2232021Assets 2022: $424,935Liabilities 2022: $0Net Assets 2022: $424,9352022Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2021

Assets$470,223
Liabilities$0
Net Assets$470,223
Open 2021 Filing

Operations Trend

Revenue Growth15th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $4,672,2432010Expenses 2011: $4,701,7882011Expenses 2012: $5,125,6422012Expenses 2013: $4,704,8792013Revenue 2014: $4,070,175Expenses 2014: $4,202,880Net Income 2014: -$132,7052014Revenue 2015: $3,856,553Expenses 2015: $3,847,794Net Income 2015: $8,7592015Revenue 2016: $3,589,764Expenses 2016: $3,906,958Net Income 2016: -$317,1942016Revenue 2017: $3,644,915Expenses 2017: $3,363,459Net Income 2017: $281,4562017Revenue 2018: $4,001Expenses 2018: $65,826Net Income 2018: -$61,8252018Revenue 2019: $5,709Expenses 2019: $100,325Net Income 2019: -$94,6162019Revenue 2020: $493Expenses 2020: $3,352Net Income 2020: -$2,8592020Revenue 2021: $217Expenses 2021: $19,263Net Income 2021: -$19,0462021Revenue 2022: $202Expenses 2022: $45,490Net Income 2022: -$45,2882022Revenue 2024: $0Expenses 2024: $8,149Net Income 2024: -$8,1492024

Highlighted filing

2021

Revenue$217
Expenses$19,263
Net Income-$19,046
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 11, 2022
Return Version
2020v4.2
Gross Receipts
$217
Mission and Program Overview

Mission

Shimer college formerly provided and preserved education centered on discussion of enduring questions and issues. Historically influential original sources were studied through socratic questioning in small seminar classes, following the kind of great books curriculum advocated by robert maynard hutchins. The core values informing education at shimer were free inquiry, dialog, critical open-mindedness, and integration of disciplines. The college offered all members of its community the opportunity to participate meaningfully in deciding the future of the institution. A shimer education demanded much of both the intellect and the character of students, and prepared them for responsible citizenship and the examined life. On june 1, 2017 north central college purchased most of liquid assets of shimer college and formed the shimer great books school.

Shimer provides and preserves education centered on discussion of enduring questions and issues

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$471,538$416,611▼ $54,927
Cash and Non-Interest-Bearing Accounts$17,731$53,612▲ $35,881
Total Assets$489,269$470,223▼ $19,046
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$829,714$829,714→ $0
Net Assets Without Donor Restrictions$-340,445$-359,491▼ $19,046
Total Net Assets Fund Balance$489,269$470,223▼ $19,046
Total Liabilities and Net Assets / Fund Balance$489,269$470,223▼ $19,046

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$811,904---$811,904
2019$811,904---$811,904
2018$811,904---$811,904
2017$811,904---$811,904
2016$811,904---$811,904
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Cindy HyndmanChair
Mary Lou KennedySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$73
Other Revenue
$144
Change in Net Assets
$-19,046
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$19,263
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$18,000-$18,000
Information Technology-$1,119-$1,119
Other Expenses-$15-$15
Total Functional Expenses$0$19,263$0$19,263
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 organization has not provided a complete copy of this form 990 to all members of its governing body before filing the form.”

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

“All trustees, officers, and key emplployees shall disclose to the board any substantive conflict of interest at the earliest practicable time. Any trustee who is uncertain whether s/he has a conflict of interest in any matter may request the board or committee to determine whether a conflict of interest exists, and the board or committee shall resolve the question by majority vote. No trustee shall vote on any matter, under consideration at a board or committee meeting, in which such trustee has a conflict of interest. The minutes of such meeting shall reflect that a disclosure was made and that the trustee having a conflictof interest abstained from voting”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Shimer College
EIN
36-2167921
Phone
3122353515
Address
200 SOUTH WACKER DRIVE NO 1700, CHICAGO, IL 60606

Signing Officer

Name
Cynthia Hyndman
Title
Chair, Board of Trustees
Phone
3122353515
Signed
2022-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cynthia Hyndman
Formed
1853
Legal Domicile
Il
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Plante & Moran Pllc
Address
750 TRADE CENTRE WAY STE 300, PORTAGE, MI 49002
Preparer
Vicki L Vandenberg CPA
Phone
2695674500
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“Shimer college ceased operating a college on june 1, 2017. Since that time it has been wrapping up core operations including dissolution of a student loan pool, paying of all liabilities and working on collecting and distributing interest in remaining trusts or assigning their interest to the shimer great book school at north central college. All remaining activity is flowing primarily through two cash accounts which will be distributed to the shimer great books school at north central at the time of dissolution. The remaining board members of the former shimer college are involved in the wrapup and liquidation process.”

Raw XML Appendix302 raw XML fields

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/MissionDesc0SHIMER COLLEGE FORMERLY PROVIDED AND PRESERVED EDUCATION CENTERED ON DISCUSSION OF ENDURING QUESTIONS AND ISSUES. HISTORICALLY INFLUENTIAL ORIGINAL SOURCES WERE STUDIED THROUGH SOCRATIC QUESTIONING IN SMALL SEMINAR CLASSES, FOLLOWING THE KIND OF GREAT BOOKS CURRICULUM ADVOCATED BY ROBERT MAYNARD HUTCHINS. THE CORE VALUES INFORMING EDUCATION AT SHIMER WERE FREE INQUIRY, DIALOG, CRITICAL OPEN-MINDEDNESS, AND INTEGRATION OF DISCIPLINES. THE COLLEGE OFFERED ALL MEMBERS OF ITS COMMUNITY THE OPPORTUNITY TO PARTICIPATE MEANINGFULLY IN DECIDING THE FUTURE OF THE INSTITUTION. A SHIMER EDUCATION DEMANDED MUCH OF BOTH THE INTELLECT AND THE CHARACTER OF STUDENTS, AND PREPARED THEM FOR RESPONSIBLE CITIZENSHIP AND THE EXAMINED LIFE. ON JUNE 1, 2017 NORTH CENTRAL COLLEGE PURCHASED MOST OF LIQUID ASSETS OF SHIMER COLLEGE AND FORMED THE SHIMER GREAT BOOKS SCHOOL.
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0WHILE SHIMER COLLEGE WAS OPERATIONAL IT WAS IN COMPLIANCE WITH REV PROC 75-50. THERE WERE THREE PLACES WHERE A NON-DISCRIMINATION POLICY WAS REQUIRED TO BE PRINTED: 1) THE ORGANIZATIONAL BYLAWS WHICH DID APPROPRIATELY HAVE SUCH A POLICY, 2) ALL ADMISSION BROCHURES AND CATALOGUES DEALING WITH STUDENT ADMISSIONS, PROGRAMS AND SCHOLARSHIPS, AND 3) AT LEAST ONE OF TWO PLACES STATED IN THE GUIDELINES FOR THE GENERAL PUBLIC (WHICH WAS SATISFIED BY THE SHIMER COLLEGE AND CATALOGUE AND WEBSITE). WHILE SHIMER DID COMMUNICATE ITS NON-DISCRIMINATION POLICY IN ITS CATALOGUE, WEBSITE AND ON MANY OF THE ADMISSION BROCHURES, IT DID NOT PRINT IT ON ALL RECRUITMENT BROCHURES AS MANY WERE TOO SMALL FOR THE REQUIRED DISCLOSURES.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS NOT PROVIDED A COMPLETE COPY OF THIS FORM 990 TO ALL MEMBERS OF ITS GOVERNING BODY BEFORE FILING THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL TRUSTEES, OFFICERS, AND KEY EMPLPLOYEES SHALL DISCLOSE TO THE BOARD ANY SUBSTANTIVE CONFLICT OF INTEREST AT THE EARLIEST PRACTICABLE TIME. ANY TRUSTEE WHO IS UNCERTAIN WHETHER S/HE HAS A CONFLICT OF INTEREST IN ANY MATTER MAY REQUEST THE BOARD OR COMMITTEE TO DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS, AND THE BOARD OR COMMITTEE SHALL RESOLVE THE QUESTION BY MAJORITY VOTE. NO TRUSTEE SHALL VOTE ON ANY MATTER, UNDER CONSIDERATION AT A BOARD OR COMMITTEE MEETING, IN WHICH SUCH TRUSTEE HAS A CONFLICT OF INTEREST. THE MINUTES OF SUCH MEETING SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE TRUSTEE HAVING A CONFLICTOF INTEREST ABSTAINED FROM VOTING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SHIMER COLLEGE CEASED OPERATING A COLLEGE ON JUNE 1, 2017. SINCE THAT TIME IT HAS BEEN WRAPPING UP CORE OPERATIONS INCLUDING DISSOLUTION OF A STUDENT LOAN POOL, PAYING OF ALL LIABILITIES AND WORKING ON COLLECTING AND DISTRIBUTING INTEREST IN REMAINING TRUSTS OR ASSIGNING THEIR INTEREST TO THE SHIMER GREAT BOOK SCHOOL AT NORTH CENTRAL COLLEGE. ALL REMAINING ACTIVITY IS FLOWING PRIMARILY THROUGH TWO CASH ACCOUNTS WHICH WILL BE DISTRIBUTED TO THE SHIMER GREAT BOOKS SCHOOL AT NORTH CENTRAL AT THE TIME OF DISSOLUTION. THE REMAINING BOARD MEMBERS OF THE FORMER SHIMER COLLEGE ARE INVOLVED IN THE WRAPUP AND LIQUIDATION PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
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ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$470,223
Liabilities
$0
Net assets
$470,223
Revenue
$217
Expenses
$19,263
Net income
-$19,046
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.01$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.42$0.00$0.42$0.00$0.05$0.05
2021Detailed filing. Detailed filing data is available for this year.$0.47$0.00$0.47$0.00$0.02$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.49$0.00$0.49$0.00$0.00$0.00
2019Detailed filing. Detailed filing data is available for this year.$4.50$0.00$4.50$0.01$0.10$0.09
2018Detailed filing. Detailed filing data is available for this year.$4.98$0.39$4.59$0.00$0.07$0.06
2017Detailed filing. Detailed filing data is available for this year.$5.24$0.39$4.85$3.64$3.36$0.28
2016Detailed filing. Detailed filing data is available for this year.$6.13$1.57$4.56$3.59$3.91$0.32
2015Detailed filing. Detailed filing data is available for this year.$6.19$1.60$4.59$3.86$3.85$0.01
2014Detailed filing. Detailed filing data is available for this year.$6.12$1.62$4.49$4.07$4.20$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.72$1.66$4.05$4.70
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.39$1.53$3.86$5.13
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.41$1.55$3.86$4.70
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.77$1.67$3.10$4.67