Civic Intelligence

The Cupola Foundation

990 • Fiscal year 2016 • EIN 36-3977640

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 13, 2017

Organization ProfileN/A
350 Park StreetElgin, IL 60120

(847) 695-0300

Siviq Scores

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

Liabilities / Assets

79th percentile

0.59x

Higher debt load relative to assets than 79% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

89th percentile

2.54x

Higher debt load relative to revenue than 89% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

14th percentile

-19%

Higher net margin than 14% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Balance Sheet
Liabilities / Assets79th percentile

Assets

$6,763,749

No earlier filing loaded for comparison.

Net Assets

$2,755,184

No earlier filing loaded for comparison.

Liabilities

$4,008,565

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin14th percentile

Revenue

$1,576,717

No earlier filing loaded for comparison.

Expenses

$1,881,504

No earlier filing loaded for comparison.

Net Income

-$304,787

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2016: $6,763,749Liabilities 2016: $4,008,565Net Assets 2016: $2,755,1842016Assets 2018: $5,424,781Liabilities 2018: $3,502,297Net Assets 2018: $1,922,4842018

Highlighted filing

2016

Assets$6,763,749
Liabilities$4,008,565
Net Assets$2,755,184
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2016: $1,576,717Expenses 2016: $1,881,504Net Income 2016: -$304,7872016Revenue 2018: $1,572,769Expenses 2018: $2,264,180Net Income 2018: -$691,4112018

Highlighted filing

2016

Revenue$1,576,717
Expenses$1,881,504
Net Income-$304,787
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 13, 2017
Return Version
2015v3.0
Gross Receipts
$1,576,717
Mission and Program Overview

Mission

Rehabilitate, own and operate a 268 units residential rental project for the provision of safe affordable housing for very low, low and moderate-income tenants as defined by the u.s. Department of housing and urban development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,423,559$6,179,663▼ $243,896
Intangible Assets$102,593$94,648▼ $7,945
Savings and Temporary Cash Investments$35,837$30,744▼ $5,093
Accounts Receivable$13,650$11,039▼ $2,611
Cash and Non-Interest-Bearing Accounts$1,945$4,806▲ $2,861
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-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$7,100,502$6,763,749▼ $336,753
Other Assets Total$522,918$442,849▼ $80,069
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,202,101$3,034,623▼ $167,478
Other Liabilities$424,142$646,403▲ $222,261
Accounts Payable and Accrued Expenses$405,137$311,456▼ $93,681
Deferred Revenue$9,151$16,083▲ $6,932
Total Liabilities$4,040,531$4,008,565▼ $31,966
Net Assets / Fund Balance
Permanently Rstr Net Assets$9,391,769$9,391,769→ $0
Unrestricted Net Assets$-6,331,798$-6,636,585▼ $304,787
Total Net Assets Fund Balance$3,059,971$2,755,184▼ $304,787
Total Liabilities and Net Assets / Fund Balance$7,100,502$6,763,749▼ $336,753

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,413,258$3,667,564$9,080,822
Land$720,000-$720,000
Other Land Buildings$46,405$405,960$452,365
Other Assets Org$90,607--
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Keith RauschenbergerPresident
Alan scimecaVice President
Frederick MasnatoTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Realty & Mortgage CoProperty management1509 W Berwyn Ave Suite 200, Chicago, IL 60640$111,053
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,575,607
Investment Income
$1,110
Other Revenue
$0
Change in Net Assets
$-304,787

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,576,717
Total Revenue per Audited Statements
$1,576,717
Total Revenue per Form 990
$1,576,717
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,582,591
Salaries, Compensation, and Employee Benefits$298,913
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$251,841--$251,841
Other Salaries and Wages$241,343--$241,343
Interest$191,791--$191,791
Other Expenses$117,861--$117,861
Fees for Services Management$111,053--$111,053
Insurance$101,975--$101,975
All Other Expenses$68,994--$68,994
Payroll Taxes$43,896--$43,896
Advertising$18,740--$18,740
Fees for Services Accounting-$17,060-$17,060
Office Expenses-$15,492-$15,492
Other Employee Benefits$13,674--$13,674
Fees for Services Legal$1,694--$1,694
Total Functional Expenses$1,848,952$32,552$0$1,881,504

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,881,504
Total Expenses per Audited Statements$1,881,504
Total Expenses per Form 990$1,881,504
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Hugh G RiderMgmt CompanyMgmt Fees for PropertyNo$111,053

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliates$445,960
Accrued Management Fees$111,303
Tenant security deposits$89,140
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 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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Draft of Form 990 is provided to management for review prior to finalizing the return.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The Board of Directors examines the nature and effect of all possible conflicts of interest and takes appropriate action. To date, no conflicts have been reported.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Documents are available upon request at the organization's offices during normal business hours.”

Filing and Contact Details

Filer

Filer Name
The Cupola Foundation
EIN
36-3977640
Phone
8476950300
Address
350 Park Street, Elgin, IL 60120

Signing Officer

Name
Keith Rauschenberger
Title
President
Signed
2017-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Keith Rauschenberger
Formed
1996
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
3
Employees
13

Preparer

Firm
Fls Group LLC
Address
4709 GOLF RD STE 200, SKOKIE, IL 60076-1236
Preparer
Moarij Khan
Phone
7737774445
Supplemental Narrative

Additional Explanations

Client Note 1

“Client Note 1 - NOTE:====FORM 990, PART X, LINE 23 DETAILS ---------------------------------DATES AMOUNTS TERMS SECURITYAPRIL 30, 2003 $1,992,414 6.2% PER ANNUM., MATURE MAY 10, 2028 R/E MONTHLY INSTALLMENTS OF $18,713 FOR P & IMAY 30, 2007 $1,209,687 6.1% PER ANNUM., MATURE MAY 10, 2028 R/E MONTHLY INSTALLMENTS OF $11,296 FOR P & I”

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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01681
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt02492
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt04106
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt010741
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01575607
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01514639
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01664015
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01915342
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01657222
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt08326825
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt02492
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt04106
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt010741
IRS990ScheduleA/InvestmentIncomeCYPct00.00130
IRS990ScheduleA/InvestmentIncomePYPct00.00190
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01915342
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01657222
IRS990ScheduleA/Total509Grp/TotalAmt08326825
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01576717
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01515991
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01665696
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01917834
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01661328
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt08337566
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt05413258
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03667564
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09080822
IRS990ScheduleD/ExpensesSubtotalAmt01881504
IRS990ScheduleD/LandGrp/BookValueAmt0720000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0720000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt027611
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1324631
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt290607
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0MORTGAGE ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESERVES FOR REPLACEMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt046405
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0405960
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0452365
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0111303
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1445960
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt289140
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED MANAGEMENT FEES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO AFFILIATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Tenant security deposits
IRS990ScheduleD/RevenueSubtotalAmt01576717
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06179663
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0442849
IRS990ScheduleD/TotalExpensesPerForm990Amt01881504
IRS990ScheduleD/TotalLiabilityAmt0646403
IRS990ScheduleD/TotalRevenuePerForm990Amt01576717
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01576717
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01881504
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0HUGH G RIDER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0MGMT COMPANY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0111053
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0MGMT FEES FOR PROPERTY
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0HUGH G. RIDER IS A BOARD MEMBER OF ELGIN ACADEMY (SPONSOR OF THE CUPOLA FOUNDATION) AND IS THE PRESIDENT OF REALTY & MORTGAGE CO. WHICH PROVIDES PROPERTY MANAGEMENT SERVICES. FEES CHARGED FOR THESE SERVICES ARE IN LINE WITH U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT GUIDLINES AND ALLOWANCES FOR SIMILARLY SITUATED PROPERTIES IN THIS MARKETPLACE.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule L, Part V Supplemental Information
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Client Note 1 - NOTE:====FORM 990, PART X, LINE 23 DETAILS ---------------------------------DATES AMOUNTS TERMS SECURITYAPRIL 30, 2003 $1,992,414 6.2% PER ANNUM., MATURE MAY 10, 2028 R/E MONTHLY INSTALLMENTS OF $18,713 FOR P & IMAY 30, 2007 $1,209,687 6.1% PER ANNUM., MATURE MAY 10, 2028 R/E MONTHLY INSTALLMENTS OF $11,296 FOR P & I
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Draft of Form 990 is provided to management for review prior to finalizing the return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board of Directors examines the nature and effect of all possible conflicts of interest and takes appropriate action. To date, no conflicts have been reported.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Documents are available upon request at the organization's offices during normal business hours.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Client Note 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Elgin Academy
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1MULFORD SQUARE PRESERVATION CORP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2ELGIN ACADEMY FOUNDATION
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1364082001
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0School
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1AFF. HOUSING

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,763,749
Liabilities
$4,008,565
Net assets
$2,755,184
Revenue
$1,576,717
Expenses
$1,881,504
Net income
-$304,787
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$5.42$3.50$1.92$1.57$2.26$0.69
2016Detailed filing. Detailed filing data is available for this year.$6.76$4.01$2.76$1.58$1.88$0.30