Civic Intelligence

Old Town Triangle Association

990 • Fiscal year 2023 • EIN 36-2336401

Aug 01, 2022 to Jul 31, 2023 • Filed on May 08, 2024

Organization ProfileWWW.OLDTOWNTRIANGLE.COM
1763 N North Park AvenueChicago, IL 60614

(312) 337-1938

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$729,189

Down $39,607 (-5.2%) from 2022

Net Assets

Down

$716,856

Down $47,270 (-6.2%) from 2022

Liabilities

Up

$12,333

Up $7,663 (+164%) from 2022

Revenue And Expenses

Revenue

Down

$358,275

Down $118,518 (-25%) from 2022

Expenses

Down

$405,545

Down $12,204 (-2.9%) from 2022

Net Income

Down

-$47,270

Down $106,314 (-180%) from 2022

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2018: $832,710Liabilities 2018: $187Net Assets 2018: $832,5232018Assets 2019: $781,919Liabilities 2019: $0Net Assets 2019: $781,9192019Assets 2020: $613,404Liabilities 2020: $46,000Net Assets 2020: $567,4042020Assets 2021: $750,391Liabilities 2021: $44,441Net Assets 2021: $705,9502021Assets 2022: $768,796Liabilities 2022: $4,670Net Assets 2022: $764,1262022Assets 2023: $729,189Liabilities 2023: $12,333Net Assets 2023: $716,8562023Assets 2024: $673,846Liabilities 2024: $0Net Assets 2024: $673,8462024

Highlighted filing

2023

Assets$729,189
Liabilities$12,333
Net Assets$716,856
Open 2023 Filing

Operations Trend

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

$600K$400K$200K$0-$200K-$400KRevenue 2018: $481,798Expenses 2018: $482,622Net Income 2018: -$8242018Revenue 2019: $443,264Expenses 2019: $493,868Net Income 2019: -$50,6042019Revenue 2020: $79,835Expenses 2020: $294,351Net Income 2020: -$214,5162020Revenue 2021: $371,524Expenses 2021: $232,978Net Income 2021: $138,5462021Revenue 2022: $476,793Expenses 2022: $417,749Net Income 2022: $59,0442022Revenue 2023: $358,275Expenses 2023: $405,545Net Income 2023: -$47,2702023Revenue 2024: $357,181Expenses 2024: $400,191Net Income 2024: -$43,0102024

Highlighted filing

2023

Revenue$358,275
Expenses$405,545
Net Income-$47,270
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2022 to Jul 31, 2023
Signed
May 8, 2024
Return Version
2022v5.0
Gross Receipts
$524,388
Mission and Program Overview

Mission

Enhance the quality of life for residents who live in the area of the city of chicago bounded by north avenue, clark street and the ghost of ogden avenue ("the triangle")

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$642,234$631,123▼ $11,111
Land, Buildings, and Equipment, Net$58,042$51,219▼ $6,823
Cash and Non-Interest-Bearing Accounts$41,592$32,923▼ $8,669
Prepaid Expenses and Deferred Charges$26,928$13,274▼ $13,654
Accounts Receivable-$650-
Total Assets$768,796$729,189▼ $39,607
Liabilities
Accounts Payable and Accrued Expenses$4,670$12,333▲ $7,663
Total Liabilities$4,670$12,333▲ $7,663
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$750,896$706,311▼ $44,585
Net Assets With Donor Restrictions$13,230$10,545▼ $2,685
Total Net Assets Fund Balance$764,126$716,856▼ $47,270
Total Liabilities and Net Assets / Fund Balance$768,796$729,189▼ $39,607

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$226,436-$226,436
Land$21,068-$21,068
Buildings$-119,387$119,387-
Leasehold Improvements$-76,898$76,898-
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ray ClarkPresident
Alan LougeeDirector
Beth BurkDirector
Carly JenkinsDirector
David MontgomeryDirector
Elaine FreiDirector
Zac BleicherDirector
Aneta Tomaszkiewicz1st Vice Pre
Anne Giffels2nd Vice Pre
Marya LucasSecretary
Andrew RoeschTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$11,850
Program Service Revenue
$70,354
Investment Income
$13,887
Other Revenue
$262,184
All Other Contributions
$305
Change in Net Assets
$-47,270

Audited Revenue Reconciliation

Revenue per Audited Statements
$358,275
Total Revenue per Audited Statements
$358,275
Total Revenue per Form 990
$358,275
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$323,024
Salaries, Compensation, and Employee Benefits$82,521
Total Fundraising Expense$16,503
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$49,771$11,486$15,313$76,570
Insurance$17,776$17,775-$35,551
Occupancy$28,638--$28,638
Other Expenses$9,247--$9,247
All Other Expenses$7,868$79-$7,947
Depreciation Depletion-$6,823-$6,823
Fees for Services Accounting-$6,372-$6,372
Payroll Taxes$3,868$893$1,190$5,951
Office Expenses$1,363$2,826-$4,189
Information Technology$3,564--$3,564
Total Functional Expenses$342,788$46,254$16,503$405,545

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$405,545
Total Expenses per Audited Statements$405,545
Total Expenses per Form 990$405,545
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$428,297
Fundraising Direct Expenses$166,113
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Art Fair$428,222$428,222$166,113$262,109
Total Events$428,222$428,222$166,113$262,109
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
Backup withholding compliance
No
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
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, Page 6, Part VI, Line 11B

“The form 990 is provided to the treasurer and the president who will then report to the board.”

Form 990, Page 6, Part VI, Line 12C

“Employees sign an annual disclosure form in february of each year,”

Form 990, Page 6, Part VI, Line 15A

“Board accumulates information on employee and decides the salary of the arts and operations director.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE PER REQUEST.”

Filing and Contact Details

Filer

Filer Name
Old Town Triangle Association
EIN
36-2336401
Phone
3123371938
Address
1763 N NORTH PARK AVENUE, CHICAGO, IL 60614

Signing Officer

Name
Andrew Roesch
Title
Treasurer
Phone
3123371938
Signed
2024-05-08

Organization Details

Principal Officer
Ray Clark
Formed
1952
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
11
Employees
3
Volunteers
25

Preparer

Firm
Rcs Cpas Pllc
Address
4415 HARRISON ST STE 552, HILLSIDE, IL 60162-1911
Preparer
Rodney C Scott
Phone
3125270111
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“To monitor the general condition of the old town triangle, both socially and physically, and initiate any action deemed appropriate to further the general welfare of the old town triangle association.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Old town triangle association is a not-for-profit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code. The organization has also been classified as an entity that is not a private foundation within the meaning of section 509(a) and qualifies for deductible contributions as provided in section 170(b)(1)(a)(vi). There was no unrelated business income nor unrecognized tax benefits for the years ended july 31, 2023, and 2022. Each of the organization's prior three years remains subject to examination by the internal revenue service. The organization has evaluated its tax positions for all open tax years. Based on the evaluation of the old town triangle association's tax positions, management believes all tax positions taken would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions has been recorded for the year ended july 31, 2023.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0OLD TOWN TRIANGLE ASSOCIATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION HAS ALSO BEEN CLASSIFIED AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170(B)(1)(A)(VI). THERE WAS NO UNRELATED BUSINESS INCOME NOR UNRECOGNIZED TAX BENEFITS FOR THE YEARS ENDED JULY 31, 2023, AND 2022. EACH OF THE ORGANIZATION'S PRIOR THREE YEARS REMAINS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE ORGANIZATION HAS EVALUATED ITS TAX POSITIONS FOR ALL OPEN TAX YEARS. BASED ON THE EVALUATION OF THE OLD TOWN TRIANGLE ASSOCIATION'S TAX POSITIONS, MANAGEMENT BELIEVES ALL TAX POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR THE YEAR ENDED JULY 31, 2023.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO MONITOR THE GENERAL CONDITION OF THE OLD TOWN TRIANGLE, BOTH SOCIALLY AND PHYSICALLY, AND INITIATE ANY ACTION DEEMED APPROPRIATE TO FURTHER THE GENERAL WELFARE OF THE OLD TOWN TRIANGLE ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PROVIDED TO THE TREASURER AND THE PRESIDENT WHO WILL THEN REPORT TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EMPLOYEES SIGN AN ANNUAL DISCLOSURE FORM IN FEBRUARY OF EACH YEAR,
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD ACCUMULATES INFORMATION ON EMPLOYEE AND DECIDES THE SALARY OF THE ARTS AND OPERATIONS DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE PER REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$729,189
Liabilities
$12,333
Net assets
$716,856
Revenue
$358,275
Expenses
$405,545
Net income
-$47,270
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.74$0.00$6.74$3.57$4.00$0.43
2023Detailed filing. Detailed filing data is available for this year.$7.29$0.12$7.17$3.58$4.06$0.47
2022Detailed filing. Detailed filing data is available for this year.$7.69$0.05$7.64$4.77$4.18$0.59
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.50$0.44$7.06$3.72$2.33$1.39
2020Detailed filing. Detailed filing data is available for this year.$6.13$0.46$5.67$0.80$2.94$2.15
2019Detailed filing. Detailed filing data is available for this year.$7.82$0.00$7.82$4.43$4.94$0.51
2018Detailed filing. Detailed filing data is available for this year.$8.33$0.00$8.33$4.82$4.83$0.01