Civic Intelligence

Etica Incorporated

EIN 36-3835067 • 501(c)3 • Chicago, IL

Profile

To preserve and promote the study of liberal arts

641 W Lake St No 200Chicago, IL 60661

www.feltre.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

97th percentile

3.17x

Higher debt load relative to assets than 97% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

99th percentile

6.78x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

84th percentile

36%

Higher net margin than 84% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

86th percentile

$14,794

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 37.5% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

43rd percentile

-7.1%

Faster asset growth than 43% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

6th percentile

-93%

Faster revenue growth than 6% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Down

$84,437

Down $6,476 (-7.1%) from 2015

Liabilities

Down

$267,575

Down $20,642 (-7.2%) from 2015

Net Assets

Up

-$183,138

Up $14,166 (+7.2%) from 2015

Revenue

Down

$39,472

Down $510,921 (-93%) from 2015

Expenses

Down

$25,306

Down $237,041 (-90%) from 2015

Net Income

Down

$14,166

Down $273,880 (-95%) from 2015

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0-$500KAssets 2014: $583,575Liabilities 2014: $1,068,925Net Assets 2014: -$485,3502014Assets 2015: $90,913Liabilities 2015: $288,217Net Assets 2015: -$197,3042015Assets 2016: $84,437Liabilities 2016: $267,575Net Assets 2016: -$183,1382016

Highlighted filing

2016

Assets$84,437
Liabilities$267,575
Net Assets-$183,138

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0Revenue 2014: $167,087Expenses 2014: $144,023Net Income 2014: $23,0642014Revenue 2015: $550,393Expenses 2015: $262,347Net Income 2015: $288,0462015Revenue 2016: $39,472Expenses 2016: $25,306Net Income 2016: $14,1662016

Highlighted filing

2016

Revenue$39,472
Expenses$25,306
Net Income$14,166

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jun 1, 2015 to May 31, 2016
Signed
Apr 17, 2017
Return Version
2015v3.0
Gross Receipts
$39,472
Mission and Program Overview

Mission

To preserve and promote the study of liberal arts

The organization provides serveral comprehensive liberal arts courses for individuals of diverse backgrounds and ages. The organization is supported through donor contributions and program service revenue, which consists principally of tuition and fees.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$148,843$149,743▲ $900
Cash and Non-Interest-Bearing Accounts$72,543$67,536▼ $5,007
Pledges and Grants Receivable$18,370$16,901▼ $1,469
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$90,913$84,437▼ $6,476
Liabilities
Unsecured Notes Loans Payable$109,056$93,639▼ $15,417
Accounts Payable and Accrued Expenses$27,918$21,793▼ $6,125
Deferred Revenue$2,400$2,400→ $0
Total Liabilities$288,217$267,575▼ $20,642
Net Assets / Fund Balance
Unrestricted Net Assets$-197,304$-183,138▲ $14,166
Total Net Assets Fund Balance$-197,304$-183,138▲ $14,166
Total Liabilities and Net Assets / Fund Balance$90,913$84,437▼ $6,476

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$65,696$65,696
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Robert UltimoVice PresidentFT$14,794$14,794

Board Members and Trustees

NameTitle
Lawrence LenzaPresident
Melissa VokounTreasurer/secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,557
Program Service Revenue
$33,000
Investment Income
$0
Other Revenue
$4,915
All Other Contributions
$1,557
Change in Net Assets
$14,166
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$16,300
Other Expenses$9,006
Total Fundraising Expense$49
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$7,397$7,397-$14,794
Fees for Services Accounting-$2,460-$2,460
Payroll Taxes$753$753-$1,506
Occupancy$1,030--$1,030
Insurance-$512-$512
Other Expenses$212$642-$212
All Other Expenses-$136$49$185
Office Expenses$25$33-$58
Total Functional Expenses$13,324$11,933$49$25,306
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$148,843$149,743▲ $900
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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
No
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 11

A copy of the form 990 was provided to members of the board of directors prior to its filing.

Form 990, Part VI, Section C, line 18

The organization makes its documents available to the public upon written request

Form 990, Part VI, Section C, line 19

All governing documents, financial statements and forms 990 are available to the public upon request

Filing and Contact Details

Filer

Filer Name
Etica Incorporated
EIN
36-3835067
Phone
7734072500
Address
641 W Lake St No 200, CHICAGO, IL 60661
Doing Business As
The Feltre School

Signing Officer

Name
Robert Ultimo
Title
Vice President
Phone
3122551357
Signed
2017-04-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Ultimo
Formed
1992
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
1
Employees
2
Volunteers
15

Preparer

Firm
Sassetti LLC
Address
6611 North Avenue, Oak Park, IL 60302
Preparer
Jeff Schroeder
Phone
7083861433
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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/TotalNetAssetsFundBalanceGrp/EOYAmt0-183138
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt013324
IRS990/TotalProgramServiceRevenueAmt033000
IRS990/TotalReportableCompFromOrgAmt014794
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt037915
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt039472
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt015
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt090913
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt084437
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-197304
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-183138
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0109056
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt093639
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0641 W Lake St No 200
IRS990/USAddress/CityNm0CHICAGO
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060661
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0WWW.FELTRE.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT ULTIMO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Vice President
ReturnHeader/BusinessOfficerGrp/PhoneNum03122551357
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-04-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ETICA INCORPORATED
ReturnHeader/Filer/BusinessNameControlTxt0ETIC
ReturnHeader/Filer/EIN0363835067
ReturnHeader/Filer/PhoneNum07734072500
ReturnHeader/Filer/USAddress/AddressLine1Txt0641 W Lake St No 200
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060661
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0362239746
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Sassetti LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06611 North Avenue
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Oak Park
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060302
ReturnHeader/PreparerPersonGrp/PhoneNum07083861433
ReturnHeader/PreparerPersonGrp/PreparationDt02017-04-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFF SCHROEDER
ReturnHeader/ReturnTs02017-04-18T08:32:21-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-06-01
ReturnHeader/TaxPeriodEndDt02016-05-31
ReturnHeader/TaxYr02015

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