Civic Intelligence

Elgin Academy Foundation

EIN 36-3911950 • 501(c)3 • Elgin, IL

Profile

Elgin academy foundation is organized to support elgin academy and its educational programs and services through the provision of financial assistance and other available means.

350 Park StreetElgin, IL 60120

n/A

Siviq Scores

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

Liabilities / Assets

94th percentile

1.00x

Higher debt load relative to assets than 94% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

96th percentile

5.91x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

98th percentile

97%

Higher net margin than 98% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

9th percentile

-14%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

98th percentile

338%

Faster revenue growth than 98% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$0

Down $3,760,289 (-100%) from 2023

Liabilities

Down

$0

Down $3,760,289 (-100%) from 2023

Net Assets

Flat

$0

Flat from 2023

Operations
Liabilities / Revenue96th percentileNet Margin98th percentile

Revenue

Down

$127,537

Down $76,319 (-37%) from 2023

Expenses

Down

$127,537

Down $158,995 (-55%) from 2023

Net Income

Up

$0

Up $82,676 (+100%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth9th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2018: $6,754,143Liabilities 2018: $6,754,143Net Assets 2018: $02018Assets 2019: $6,483,428Liabilities 2019: $6,483,428Net Assets 2019: $02019Assets 2020: $5,439,745Liabilities 2020: $5,439,745Net Assets 2020: $02020Assets 2021: $6,385,306Liabilities 2021: $6,385,306Net Assets 2021: $02021Assets 2022: $5,510,231Liabilities 2022: $5,510,231Net Assets 2022: $02022Assets 2023: $3,760,289Liabilities 2023: $3,760,289Net Assets 2023: $02023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2024

Assets$0
Liabilities$0
Net Assets$0
Open 2024 Filing

Operations Trend

Revenue Growth98th percentile

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2018: $337,577Expenses 2018: $661,307Net Income 2018: -$323,7302018Revenue 2019: $241,634Expenses 2019: $346,477Net Income 2019: -$104,8432019Revenue 2020: $161,867Expenses 2020: $224,404Net Income 2020: -$62,5372020Revenue 2021: $213,022Expenses 2021: $1,024,202Net Income 2021: -$811,1802021Revenue 2022: $932,563Expenses 2022: $30,938Net Income 2022: $901,6252022Revenue 2023: $203,856Expenses 2023: $286,532Net Income 2023: -$82,6762023Revenue 2024: $127,537Expenses 2024: $127,537Net Income 2024: $02024

Highlighted filing

2024

Revenue$127,537
Expenses$127,537
Net Income$0
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$127,537
Expenses
$127,537
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.13$0.13$0.00
2023Detailed filing. Detailed filing data is available for this year.$3.76$3.76$0.00$0.20$0.29$0.08
2022Detailed filing. Detailed filing data is available for this year.$5.51$5.51$0.00$0.93$0.03$0.90
2021Detailed filing. Detailed filing data is available for this year.$6.39$6.39$0.00$0.21$1.02$0.81
2020Detailed filing. Detailed filing data is available for this year.$5.44$5.44$0.00$0.16$0.22$0.06
2019Detailed filing. Detailed filing data is available for this year.$6.48$6.48$0.00$0.24$0.35$0.10
2018Detailed filing. Detailed filing data is available for this year.$6.75$6.75$0.00$0.34$0.66$0.32
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 4, 2025
Return Version
2023v6.0
Gross Receipts
$145,646
Mission and Program Overview

Mission

Elgin academy foundation is organized to support elgin academy and its educational programs and services through the provision of financial assistance and other available means.

Elgin academy foundation is organized to support elgin academy and its educational programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,559,782$0▼ $2,559,782
Cash and Non-Interest-Bearing Accounts$1,200,507$0▼ $1,200,507
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
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-
Land, Buildings, and Equipment, Net-$0-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$3,760,289$0▼ $3,760,289
Other Assets Total-$0-
Liabilities
Other Liabilities$3,760,289$0▼ $3,760,289
Total Liabilities$3,760,289$0▼ $3,760,289
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$0→ $0
Total Liabilities and Net Assets / Fund Balance$3,760,289$0▼ $3,760,289
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Alan ScimecaPresident
Mike WarrenVice-president
William PadulaSecretary / Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$127,537
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$122,030
Other Expenses$5,507
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$122,030--$122,030
Fees for Services Other-$5,507-$5,507
Total Functional Expenses$122,030$5,507$0$127,537
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Elgin AcademyElgin, IL501(c)(3)All Revenue Earned by Elgin Academy Foundation (the Foundation) Is Granted to Elgin Academy Since All Funds Held by the Foundation Are for the Beneficial Interest of Elgin Academy.$122,030
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
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
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Alan scimeca, mike warren and william padula are also board members for elgin academy and mulford square preservation corporation.”

Form 990, Part VI, Section A, Line 3

“Line 3 explanation - the portfolio of investments for the foundation is managed by vanguard and first american bank.”

Form 990, Part VI, Section B, Line 11B

“Line 11b explanation - a draft copy of the form 990 and related schedules is circulated by the director of finance to board members along with copies of the audited financial statements for review and comment prior to filing.”

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

“Annual disclosure statements are submitted to the organization for review. To date, there have been no conflicts of interest.”

Form 990, Part VI, Section C, Line 19

“All documents are available upon request at the organization's office during normal business hours.”

Filing and Contact Details

Filer

Filer Name
Elgin Academy Foundation
EIN
36-3911950
Phone
8476950300
Address
350 PARK STREET, ELGIN, IL 60120

Signing Officer

Name
Alan Scimeca
Title
Chairman
Phone
8476950300
Signed
2025-02-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alan Scimeca
Formed
1993
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Rubinbrown Llp
Address
225 W WACKER DRIVE, CHICAGO, IL 60606
Preparer
Bruce Schiff
Phone
3124251099
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organization didn't change its oversight process and selection process during the tax year.”

Form 990, Schedule I, Part II, Line 1H - Purpose of Grant

“All revenue earned by elgin academy foundation (the foundation) is granted to elgin academy since all funds held by the foundation are for the beneficial interest of elgin academy.”

Raw XML Appendix399 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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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd060120
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALAN SCIMECA, MIKE WARREN AND WILLIAM PADULA ARE ALSO BOARD MEMBERS FOR ELGIN ACADEMY AND MULFORD SQUARE PRESERVATION CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LINE 3 EXPLANATION - THE PORTFOLIO OF INVESTMENTS FOR THE FOUNDATION IS MANAGED BY VANGUARD AND FIRST AMERICAN BANK.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2LINE 11B EXPLANATION - A DRAFT COPY OF THE FORM 990 AND RELATED SCHEDULES IS CIRCULATED BY THE DIRECTOR OF FINANCE TO BOARD MEMBERS ALONG WITH COPIES OF THE AUDITED FINANCIAL STATEMENTS FOR REVIEW AND COMMENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUAL DISCLOSURE STATEMENTS ARE SUBMITTED TO THE ORGANIZATION FOR REVIEW. TO DATE, THERE HAVE BEEN NO CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S OFFICE DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION DIDN'T CHANGE ITS OVERSIGHT PROCESS AND SELECTION PROCESS DURING THE TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ALL REVENUE EARNED BY ELGIN ACADEMY FOUNDATION (THE FOUNDATION) IS GRANTED TO ELGIN ACADEMY SINCE ALL FUNDS HELD BY THE FOUNDATION ARE FOR THE BENEFICIAL INTEREST OF ELGIN ACADEMY.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, SCHEDULE I, PART II, LINE 1H - PURPOSE OF GRANT
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ELGIN ACADEMY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1MULFORD SQUARE PRESERVATION CORP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0362205984
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1364082001
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0EDUCATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1AFF. HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE_2_SCHOOL_DESCRI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1501(C)(3)
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0122030
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0ELGIN ACADEMY
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt03760289
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt03760289
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05507
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0122030
IRS990/TotalFunctionalExpensesGrp/TotalAmt0127537
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03760289
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt03760289
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0122030
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0127537
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0127537
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03760289
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/ZIPCd060120
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ALAN SCIMECA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum08476950300
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ELGIN ACADEMY FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0ELGI
ReturnHeader/Filer/EIN0363911950
ReturnHeader/Filer/PhoneNum08476950300
ReturnHeader/Filer/USAddress/AddressLine1Txt0350 PARK STREET
ReturnHeader/Filer/USAddress/CityNm0ELGIN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060120
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0430765316
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RUBINBROWN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0225 W WACKER DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHICAGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060606
ReturnHeader/PreparerPersonGrp/PhoneNum03124251099
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRUCE SCHIFF
ReturnHeader/ReturnTs02025-02-14T10:56:21-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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