Civic Intelligence

Lycee Francais De Chicago Inc

EIN 36-4002001 • 501(c)3 • Chicago, IL

Profile

The mission of the Lycee Francais de Chicago is to educate children pre-Kindergarten through 12th grade with a rigorous dual-language curriculum grounded in the French educational system, complemented by a strong American program and the International Baccalaureate, within an engaged multicultural community that encourages students to become responsible global citizens.

1929 West Wilson AvenueChicago, IL 60640-5208

www.lyceechicago.org

Siviq Scores

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

Liabilities / Assets

75th percentile

0.56x

Higher debt load relative to assets than 75% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

79th percentile

1.26x

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

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

48th percentile

3.8%

Higher net margin than 48% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

51st percentile

$365,561

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

38th percentile

2.8%

Faster asset growth than 38% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

44th percentile

6.3%

Faster revenue growth than 44% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Up

$52,146,659

Up $1,418,215 (+2.8%) from 2023

Liabilities

Up

$29,272,608

Up $330,159 (+1.1%) from 2023

Net Assets

Up

$22,874,051

Up $1,088,056 (+5.0%) from 2023

Revenue

Up

$23,323,238

Up $1,387,446 (+6.3%) from 2023

Expenses

Up

$22,433,052

Up $2,099,910 (+10%) from 2023

Net Income

Down

$890,186

Down $712,464 (-44%) from 2023

Trend Graphs

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2012: $10,565,967Liabilities 2012: $6,588,302Net Assets 2012: $3,977,6652012Assets 2013: $17,150,651Liabilities 2013: $9,913,884Net Assets 2013: $7,236,7672013Assets 2014: $22,083,362Liabilities 2014: $12,072,721Net Assets 2014: $10,010,6412014Assets 2015: $40,163,747Liabilities 2015: $28,212,765Net Assets 2015: $11,950,9822015Assets 2016: $41,284,137Liabilities 2016: $29,809,155Net Assets 2016: $11,474,9822016Assets 2017: $41,789,454Liabilities 2017: $30,344,369Net Assets 2017: $11,445,0852017Assets 2018: $41,792,211Liabilities 2018: $30,155,495Net Assets 2018: $11,636,7162018Assets 2019: $42,395,473Liabilities 2019: $29,835,453Net Assets 2019: $12,560,0202019Assets 2020: $46,369,926Liabilities 2020: $30,792,196Net Assets 2020: $15,577,7302020Assets 2021: $48,724,560Liabilities 2021: $30,642,303Net Assets 2021: $18,082,2572021Assets 2022: $48,935,654Liabilities 2022: $28,757,378Net Assets 2022: $20,178,2762022Assets 2023: $50,728,444Liabilities 2023: $28,942,449Net Assets 2023: $21,785,9952023Assets 2024: $52,146,659Liabilities 2024: $29,272,608Net Assets 2024: $22,874,0512024

Highlighted filing

2024

Assets$52,146,659
Liabilities$29,272,608
Net Assets$22,874,051

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2012: $11,257,0482012Expenses 2013: $13,032,6392013Revenue 2014: $16,340,838Expenses 2014: $13,566,964Net Income 2014: $2,773,8742014Revenue 2015: $16,889,064Expenses 2015: $14,948,723Net Income 2015: $1,940,3412015Revenue 2016: $16,610,850Expenses 2016: $17,086,850Net Income 2016: -$476,0002016Revenue 2017: $17,048,521Expenses 2017: $17,290,762Net Income 2017: -$242,2412017Revenue 2018: $18,147,598Expenses 2018: $17,899,402Net Income 2018: $248,1962018Revenue 2019: $19,189,151Expenses 2019: $18,265,868Net Income 2019: $923,2832019Revenue 2020: $22,168,746Expenses 2020: $19,151,036Net Income 2020: $3,017,7102020Revenue 2021: $20,322,112Expenses 2021: $17,817,585Net Income 2021: $2,504,5272021Revenue 2022: $20,956,507Expenses 2022: $18,803,292Net Income 2022: $2,153,2152022Revenue 2023: $21,935,792Expenses 2023: $20,333,142Net Income 2023: $1,602,6502023Revenue 2024: $23,323,238Expenses 2024: $22,433,052Net Income 2024: $890,1862024

Highlighted filing

2024

Revenue$23,323,238
Expenses$22,433,052
Net Income$890,186

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$52.1$29.3$22.9$23.3$22.4$0.89
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$50.7$28.9$21.8$21.9$20.3$1.60
2022Detailed filing. Detailed filing data is available for this year.$48.9$28.8$20.2$21.0$18.8$2.15
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$48.7$30.6$18.1$20.3$17.8$2.50
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$46.4$30.8$15.6$22.2$19.2$3.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$42.4$29.8$12.6$19.2$18.3$0.92
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$41.8$30.2$11.6$18.1$17.9$0.25
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$41.8$30.3$11.4$17.0$17.3$0.24
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$41.3$29.8$11.5$16.6$17.1$0.48
2015Detailed filing. Detailed filing data is available for this year.$40.2$28.2$12.0$16.9$14.9$1.94
2014Detailed filing. Detailed filing data is available for this year.$22.1$12.1$10.0$16.3$13.6$2.77
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.2$9.91$7.24$13.0
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$6.59$3.98$11.3
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.2
Gross Receipts
$21,156,857
Mission and Program Overview

Mission

The mission of the Lycee Francais de Chicago is to educate children pre-Kindergarten through 12th grade with a rigorous dual-language curriculum grounded in the French educational system, complemented by a strong American program and the International Baccalaureate, within an engaged multicultural community that encourages students to become responsible global citizens.

Private school, serving pre-K through 12th grade students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$34,093,062$33,599,642▼ $493,420
Investments in Publicly Traded Securities$0$7,211,255▲ $7,211,255
Savings and Temporary Cash Investments$13,233,520$6,803,070▼ $6,430,450
Prepaid Expenses and Deferred Charges$186,143$120,314▼ $65,829
Accounts Receivable$52,198$74,792▲ $22,594
Pledges and Grants Receivable$23,795$14,317▼ $9,478
Total Assets$48,724,560$48,935,654▲ $211,094
Other Assets Total$1,135,842$1,112,264▼ $23,578
Liabilities
Mortgage Notes Payable Secured by Investment Property$22,104,795$21,629,495▼ $475,300
Deferred Revenue$4,621,488$5,141,288▲ $519,800
Unsecured Notes Loans Payable$2,000,000$0▼ $2,000,000
Accounts Payable and Accrued Expenses$1,839,913$1,920,126▲ $80,213
Other Liabilities$76,107$66,469▼ $9,638
Total Liabilities$30,642,303$28,757,378▼ $1,884,925
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$17,670,216$19,818,540▲ $2,148,324
Net Assets With Donor Restrictions$412,041$359,736▼ $52,305
Total Net Assets Fund Balance$18,082,257$20,178,276▲ $2,096,019
Total Liabilities and Net Assets / Fund Balance$48,724,560$48,935,654▲ $211,094

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$25,978,520$5,393,088$31,371,608
Land$7,078,000-$7,078,000
Equipment$492,275$1,504,738$1,997,013
Other Land Buildings$50,847$551,919$602,766

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$100,106-▲ $1,017$1,017$100,106
2020$100,106-▲ $20$20$100,106
2019$100,106-▲ $85$85$100,106
2018$100,106-▲ $197$197$100,106
2017$100,106-▲ $452$452$100,106
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Eric VeteauPresidentFT$286,285$66,547$352,832
Mike YagerCFOFT$175,113$63,596$238,709
Sarah GalerCcmoFT$132,482$25,563$158,045
Philippe AudassoDirector of AthleticsFT$115,934$11,456$127,390
Irina Lobo-ZiemannDirector of Information TechnologyFT$104,744$15,827$120,571
Sebastien TourlouseDirector of IBFT$105,611$10,911$116,522
Delphine GeannopulosDirector of Middle SchoolFT$106,531$2,621$109,152

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Danmark SecurityBuilding Security Services800 Wells Street Suite M5, Chicago, IL 60607$214,189
Revenue and Support

Revenue Composition

Contributions and Grants
$3,173,924
Program Service Revenue
$17,802,675
Investment Income
$39,786
Other Revenue
$-59,878
All Other Contributions
$670,164
Change in Net Assets
$2,153,215

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table8$50,873Fair Market Value (FMV)
Other Non Cash Contri Table10$34,561Fair Market Value (FMV)
Other Non Cash Contri Table2$19,056Fair Market Value (FMV)
Securities Publicly Traded3$8,039Fair Market Value (FMV)
Total Noncash Contributions23$112,529-

Audited Revenue Reconciliation

Revenue per Audited Statements
$19,291,913
Revenue Not Reported on Financial Statements
$1,664,594
Revenue Not Reported on Form 990
$8,668
Other Revenue Adjustments
$1,664,594
Total Revenue per Audited Statements
$19,300,581
Total Revenue per Form 990
$20,956,507
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$12,882,263
Other Expenses$4,293,720
Grants and Similar Amounts Paid$1,627,309
Total Fundraising Expense$301,471
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,764,358$1,310,351$186,504$10,261,213
Grants to Domestic Individuals$1,627,309--$1,627,309
Depreciation Depletion$903,809$200,180$6,250$1,110,239
Other Employee Benefits$922,729$158,270$7,372$1,088,371
Interest$811,302$68,422$6,685$886,409
Occupancy$700,747$59,098$5,774$765,619
Payroll Taxes$641,075$99,670$14,212$754,957
Current Officers, Directors, Trustees, and Key Employees$463,927$69,361$9,872$543,160
Office Expenses$248,177$99,982$12,177$360,336
Fees for Services Other$121,367$106,354$9,243$236,964
Pension Plan Contributions$198,863$34,110$1,589$234,562
Advertising$13,534$92,894-$106,428
Insurance$64,655$14,508$1,813$80,976
Fees for Services Accounting-$76,871-$76,871
Fees for Services Legal-$58,128-$58,128
Information Technology$16,398$33,126$2,360$51,884
Other Expenses$510,117$4,422$37,283$37,283
Travel$7,321$386$337$8,044
Total Functional Expenses$16,015,688$2,486,133$301,471$18,803,292

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$18,803,292
Total Expenses per Audited Statements$17,204,562
Expenses per Audited Statements$17,138,698
Expenses Not Reported on Financial Statements$1,664,594
Other Expense Adjustments$1,664,594
Expenses Not Reported on Form 990$65,864
International Activity

International Summary

Offices
0
Employees
0
Spending
$22,302

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland & Greenland)Program ServicesEducational Trip00$22,302
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$200,350
Fundraising Gross Income$84,691
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Soiree Dinner$438,264$58,100$9,271$48,829
Oui Run$17,582$8,582$5,897$2,685
Total Events$476,571$84,691$200,350$-115,659
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Parent Association Fund$66,469
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
Yes
Other officer compensation reviewed
Yes
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

The Board Finance Committee reviews and approves the Form 990 on behalf of the Board of Trustees before the Form 990 is filed with the IRS.

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

By the nature of Lycee Francais de Chicago's conflict of interest policy, no business transactions are undertaken with any Trustee or the business of any Trustee.

Form 990, Part VI, Section B, line 15

The President's compensation was determined by the Board of Trustees. Comparison data and peer market validation was used in determining the compensation. The process was documented. The employees who report directly to the President, including the Chief Financial Officer. The President evaluates performance and checks the salary scales of other schools on ISACS and NAIS sites.

Form 990, Part VI, Section C, line 19

The organization's governing documents and the conflict of interest policy are available upon request. The financial statements are available to the public upon request for the same period of disclosure as set forth in IRC Section 6104(d).

Filing and Contact Details

Filer

Filer Name
Lycee Francais de Chicago Inc
EIN
36-4002001
Phone
7736650066
Address
1929 West Wilson Avenue, Chicago, IL 60640-5208

Signing Officer

Name
Michael Yager
Title
CFO
Phone
7736650066
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eric Veteau
Formed
1995
Legal Domicile
Il
Voting Board Members
17
Independent Board Members
17
Employees
267
Volunteers
300

Preparer

Firm
Rsm US Llp
Address
30 S Wacker Drive Ste 3300, Chicago, IL 60606
Preparer
Ariel Garcia
Phone
3126343400
Supplemental Narrative

Financial Statement Notes

Part III, Line 1A:

The School owns a collection which consists of photographs by Christian Boltanski, a contemporary French conceptual artist and photographer, and is not recognized as an asset on the statements of financial position. Purchases of collection items are recorded as decreases in net assets without donor restrictions in the year in which the items are acquired. Proceeds from deaccession are reflected as increases in net assets without donor restrictions. There were no amounts deaccessed during the fiscal years ended June 30, 2022 and 2021.

Part III, Line 4:

Artwork by French artist to further the French culture at the school.

Part V, Line 4:

Building and Maintenance Expenses

Part X, Line 2:

The School is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and applicable state law, except for taxes pertaining to unrelated business income, if any. The School follows the accounting standard on accounting for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the School may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the School and various positions related to the potential source of unrelated taxable income. There were no unrecognized tax benefits identified or recorded as liabilities for the reporting periods presented herein. The School files Forms 990 in the U.S. federal jurisdiction and the State of Illinois.

Part XI, Line 4B - Other Adjustments:

Financial Aid 1,627,309. Annual Fund 37,285.

Part XII, Line 4B - Other Adjustments:

Financial Aid 1,627,309. Annual Fund 37,285.

Raw XML AppendixShowing 400 of 828 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.

Path#Value
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IRS990/BooksInCareOfDetail/PhoneNum07736650066
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01929 West Wilson Avenue
IRS990/BooksInCareOfDetail/USAddress/CityNm0Chicago
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IRS990/Desc0Lycee Francais de Chicago is a private, not-for-profit, coeducational day school serving 745 students from pre-kindergarten through 12th grade. The Lycee Francais de Chicago prepares students to be responsible global citizens by providing a dynamic dual language, bicultural education that focuses on excellence through the French National Curriculum complemented by a strong English Language Arts and American Studies program. Our multicultural, dual-language curriculum brings together the best of the French and American education systems. It not only enhances our students' interpersonal, communication, and academic skills, it also helps them distinguish themselves in an increasingly competitive world. The Lycee belongs to the renowned worldwide French school system, which ensures the consistency and cohesiveness of its curriculum.
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt170
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2111456
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2215827
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt2310911
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt242621
IRS990/Form990PartVIISectionAGrp/PersonNm0Kelsey Burr
IRS990/Form990PartVIISectionAGrp/PersonNm1Virginie Ott-Bono
IRS990/Form990PartVIISectionAGrp/PersonNm2Aurelie Richard
IRS990/Form990PartVIISectionAGrp/PersonNm3Randy Bridgeman
IRS990/Form990PartVIISectionAGrp/PersonNm4Lisa Bailey
IRS990/Form990PartVIISectionAGrp/PersonNm5Joanne Barry-Babule
IRS990/Form990PartVIISectionAGrp/PersonNm6Tatiana Bonuma
IRS990/Form990PartVIISectionAGrp/PersonNm7Siobhan Cafferty
IRS990/Form990PartVIISectionAGrp/PersonNm8Michael Fields
IRS990/Form990PartVIISectionAGrp/PersonNm9Marissa Ingley
IRS990/Form990PartVIISectionAGrp/PersonNm10Angelina Joiner
IRS990/Form990PartVIISectionAGrp/PersonNm11Kish Khemani
IRS990/Form990PartVIISectionAGrp/PersonNm12Eileen Kirkwood
IRS990/Form990PartVIISectionAGrp/PersonNm13Xavier Laurens
IRS990/Form990PartVIISectionAGrp/PersonNm14Philippe Lunardelli
IRS990/Form990PartVIISectionAGrp/PersonNm15John McBroom
IRS990/Form990PartVIISectionAGrp/PersonNm16Christophe Ridet
IRS990/Form990PartVIISectionAGrp/PersonNm17Ann Thompson
IRS990/Form990PartVIISectionAGrp/PersonNm18Eric Veteau
IRS990/Form990PartVIISectionAGrp/PersonNm19Mike Yager
IRS990/Form990PartVIISectionAGrp/PersonNm20Sarah Galer
IRS990/Form990PartVIISectionAGrp/PersonNm21Philippe Audasso
IRS990/Form990PartVIISectionAGrp/PersonNm22Irina Lobo-Ziemann
IRS990/Form990PartVIISectionAGrp/PersonNm23Sebastien Tourlouse
IRS990/Form990PartVIISectionAGrp/PersonNm24Delphine Geannopulos
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt1Chair Elect
IRS990/Form990PartVIISectionAGrp/TitleTxt2Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustee (until 3/29/22)
IRS990/Form990PartVIISectionAGrp/TitleTxt16Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt17Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt18President
IRS990/Form990PartVIISectionAGrp/TitleTxt19CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt20CCMO
IRS990/Form990PartVIISectionAGrp/TitleTxt21Director of Athletics
IRS990/Form990PartVIISectionAGrp/TitleTxt22Director of Information Technology
IRS990/Form990PartVIISectionAGrp/TitleTxt23Director of IB
IRS990/Form990PartVIISectionAGrp/TitleTxt24Director of Middle School
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IRS990/MissionDesc0The Lycee Francais de Chicago, driven by our core values of respect, responsibility and the joy of learning, empowers students to grow into active global citizens.
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IRS990/PrincipalOfficerNm0Eric Veteau

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