Civic Intelligence

Centro Romero

990 • Fiscal year 2022 • EIN 36-3517408

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

6216 N Clark StChicago, IL 60660

(773) 508-5300

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.15x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

49th percentile

0.08x

Higher debt load relative to revenue than 49% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

29th percentile

-2.8%

Higher net margin than 29% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$65,000

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

33rd percentile

-3.9%

Faster asset growth than 33% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

54th percentile

8.4%

Faster revenue growth than 54% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$1,484,824

Down $59,532 (-3.9%) from 2021

Net Assets

Down

$1,261,146

Down $80,567 (-6.0%) from 2021

Liabilities

Up

$223,678

Up $21,035 (+10%) from 2021

Revenue

Up

$2,890,811

Up $223,124 (+8.4%) from 2021

Expenses

Up

$2,971,379

Up $427,110 (+17%) from 2021

Net Income

Down

-$80,568

Down $203,986 (-165%) from 2021

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2020: $1,260,168Liabilities 2020: $41,873Net Assets 2020: $1,218,2952020Assets 2021: $1,544,356Liabilities 2021: $202,643Net Assets 2021: $1,341,7132021Assets 2022: $1,484,824Liabilities 2022: $223,678Net Assets 2022: $1,261,1462022Assets 2023: $1,472,235Liabilities 2023: $491,019Net Assets 2023: $981,2162023Assets 2024: $1,322,113Liabilities 2024: $458,145Net Assets 2024: $863,9682024

Highlighted filing

2022

Assets$1,484,824
Liabilities$223,678
Net Assets$1,261,146

Operations Trend

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

$4.0M$2.0M$0-$2.0MRevenue 2020: $2,687,582Expenses 2020: $2,334,355Net Income 2020: $353,2272020Revenue 2021: $2,667,687Expenses 2021: $2,544,269Net Income 2021: $123,4182021Revenue 2022: $2,890,811Expenses 2022: $2,971,379Net Income 2022: -$80,5682022Revenue 2023: $3,015,050Expenses 2023: $3,218,415Net Income 2023: -$203,3652023Revenue 2024: $3,806,709Expenses 2024: $3,931,627Net Income 2024: -$124,9182024

Highlighted filing

2022

Revenue$2,890,811
Expenses$2,971,379
Net Income-$80,568
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$2,913,114
Mission and Program Overview

Mission

Assist disadvantaged residents of Chicago's Edgewater, Rogers Park, and Uptown neighborhoods.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$661,342$661,531▲ $189
Cash and Non-Interest-Bearing Accounts$646,724$657,533▲ $10,809
Land, Buildings, and Equipment, Net$161,282$132,695▼ $28,587
Prepaid Expenses and Deferred Charges$3,123$33,065▲ $29,942
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,544,356$1,484,824▼ $59,532
Other Assets Total$71,885$0▼ $71,885
Liabilities
Deferred Revenue$148,159$193,992▲ $45,833
Accounts Payable and Accrued Expenses$54,484$29,686▼ $24,798
Total Liabilities$202,643$223,678▲ $21,035
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$981,896$853,044▼ $128,852
Net Assets With Donor Restrictions$359,817$408,102▲ $48,285
Total Net Assets Fund Balance$1,341,713$1,261,146▼ $80,567
Total Liabilities and Net Assets / Fund Balance$1,544,356$1,484,824▼ $59,532

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$132,695$183,045$315,740
Leasehold Improvements-$2,969$2,969
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Daysi J FunesDirectorPT$65,000$65,000

Board Members and Trustees

NameTitle
Michael KasprzynskiPresident
Michelle A WeitzVice President
Andres HuertasDirector
Audrey KuciaDirector
Guillermina CardenasDirector
Judy VeramendiDirector
Mayra ChaconDirector
Nora E BecerraDirector
Patricia Maza-PittsfordDirector
Sandra ArellanoDirector
Daysi J FunesEx Officio Exec Director
Ruth Gomberg-MunozSecretary
Roman RuizTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,176,337
Program Service Revenue
$1,694,293
Investment Income
$3
Other Revenue
$20,178
All Other Contributions
$1,176,337
Change in Net Assets
$-80,568

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,890,811
Total Revenue per Audited Statements
$2,890,811
Total Revenue per Form 990
$2,890,811
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,724,019
Other Expenses$974,875
Grants and Similar Amounts Paid$272,485
Total Fundraising Expense$135,250
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,289,651$25,425$56,668$1,371,744
Grants to Domestic Individuals$272,485--$272,485
Other Employee Benefits$152,097$5,227$2,686$160,010
Occupancy$129,713$3,208$2,356$135,277
Payroll Taxes$119,695$2,938$4,632$127,265
All Other Expenses$61,908$24,791$9,477$96,176
Current Officers, Directors, Trustees, and Key Employees$58,500$6,500-$65,000
Depreciation Depletion-$55,836-$55,836
Other Expenses$37,162$156$838$38,156
Office Expenses$23,997$1,361$472$25,830
Insurance$14,781$1,665$294$16,740
Travel$6,805$734$474$8,013
Advertising$180$1,473$1,445$3,098
Total Functional Expenses$2,698,952$137,177$135,250$2,971,379

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,971,379
Total Expenses per Audited Statements$2,971,379
Total Expenses per Form 990$2,971,379
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$42,481
Fundraising Direct Expenses$22,303
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Various$42,481$42,481$22,303$20,178
Total Events$42,481$42,481$22,303$20,178
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
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

Form 990 is reviewed by the Board of Directors before it is submitted.

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

Officers and Directors are required to submit a signed written statement declaring whether or not he/she has a conflict of interest with the organization.

Form 990, Part VI, Section C, Line 18

A complete copy of form 990 and the audit report is posted on the web-site of the IL Attorney General. The web-site of the IL Attorney General is open to the general public.

Form 990, Part VI, Section C, Line 19

Disclosure of the Organization's governing documents, policies, and financial statements are made available to the general public upon written request.

Filing and Contact Details

Filer

Filer Name
Centro Romero
EIN
36-3517408
Phone
7735085300
Address
6216 N Clark St, Chicago, IL 60660

Signing Officer

Name
Daysi J Funes
Title
Executive Director
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Kasprzynski
Formed
1987
Legal Domicile
Il
Voting Board Members
13
Independent Board Members
13
Employees
79
Volunteers
148

Preparer

Firm
BG Advisors CPA LTD
Address
1250 E Diehl Rd Ste 406, Naperville, IL 60563
Preparer
Sachin Gandhi
Phone
6305051081
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

OTHER PROGRAM SERVICES 4: Public Benefits Program:A total of 2,538 family members benefited from accessing Public Benefits Programs and 89 families received assistance with rent and utility payments. OTHER PROGRAM SERVICES 5: The Youth Program OTHER PROGRAM SERVICES 6: COVID-19 Relief

Form 990, Part XI, Line 9

rounding = $1

Financial Statement Notes

Part X : FIN48 Footnote

Centro Romero is exempt from federal taxes under Section 501(c)3 of the Internal Revenue Code. Contributions to Centro Romero qualify as charitable contributions under Section 170(b)(1)(A). Centro Romero is classified as an organization that is not a private foundation under Section 509(a)(2). Centro Romero's management has determined that FASB ASC 740-10, which addresses accounting for uncertainty in income taxes, has no effect on its financial statements due to Centro Romero's tax-exempt status.

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IRS990/InsuranceGrp/TotalAmt016740
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IRS990/MissionDesc0Assist disadvantaged residents of Chicago's Edgewater, Rogers Park, and Uptown neighborhoods.
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt02686
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt05227
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0152097
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IRS990/OtherExpensesGrp/FundraisingAmt14756
IRS990/OtherExpensesGrp/FundraisingAmt2838
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt04329
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13534
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IRS990/OtherExpensesGrp/ProgramServicesAmt263790
IRS990/OtherExpensesGrp/ProgramServicesAmt337162
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IRS990/OtherExpensesGrp/TotalAmt272080
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IRS990/PrincipalOfficerNm0Michael Kasprzynski
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IRS990/ProgSrvcAccomActy2Grp/Desc0Public Benefits Program:A total of 2,538 family members benefited from accessing Public Benefits Programs and 89 families received assistance with rent and utility payments.
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IRS990/ProgSrvcAccomActy3Grp/Desc0The Adult Education ProgramServed 706 students. These include 348 adults instructed in English as a Second Language (ESL) and 88 in General Educational Development (GED). A total of 174 adults attended citizenship test preparation classes, eight received vocational training for healthcare careers, and 32 young children and parents participated in family literacy. Fifty-one adults received job-readiness training and five students learned to read and write in Spanish.
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IRS990ScheduleA/SubstantialContributorsTotAmt0323725
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