Civic Intelligence

Instituto Cervantes of Chicago Inc.

990 • Fiscal year 2016 • EIN 36-4092149

Jan 01, 2016 to Dec 31, 2016 • Filed on Jun 07, 2017

31 West OhioChicago, IL 60654

(312) 335-1996

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.12x

Higher debt load relative to assets than 93% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

82nd percentile

0.77x

Higher debt load relative to revenue than 82% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

57th percentile

4.7%

Higher net margin than 57% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

64th percentile

$90,250

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

15th percentile

-7.7%

Faster asset growth than 15% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

61st percentile

7.3%

Faster revenue growth than 61% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$1,681,739

Down $140,860 (-7.7%) from 2015

Net Assets

Up

-$209,366

Up $114,731 (+35%) from 2015

Liabilities

Down

$1,891,105

Down $255,591 (-12%) from 2015

Revenue

Up

$2,456,807

Up $167,601 (+7.3%) from 2015

Expenses

Down

$2,342,076

Down $66,403 (-2.8%) from 2015

Net Income

Up

$114,731

Up $234,004 (+196%) from 2015

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $3,503,265Liabilities 2010: $3,249,101Net Assets 2010: $254,1642010Assets 2011: $3,229,403Liabilities 2011: $3,139,905Net Assets 2011: $89,4982011Assets 2012: $2,783,286Liabilities 2012: $2,873,808Net Assets 2012: -$90,5222012Assets 2013: $2,556,343Liabilities 2013: $2,688,108Net Assets 2013: -$131,7652013Assets 2014: $2,190,822Liabilities 2014: $2,395,646Net Assets 2014: -$204,8242014Assets 2015: $1,822,599Liabilities 2015: $2,146,696Net Assets 2015: -$324,0972015Assets 2016: $1,681,739Liabilities 2016: $1,891,105Net Assets 2016: -$209,3662016Assets 2017: $1,494,287Liabilities 2017: $1,595,894Net Assets 2017: -$101,6072017Assets 2018: $1,127,174Liabilities 2018: $1,326,701Net Assets 2018: -$199,5272018Assets 2019: $868,204Liabilities 2019: $1,104,625Net Assets 2019: -$236,4212019Assets 2020: $726,307Liabilities 2020: $711,186Net Assets 2020: $15,1212020Assets 2021: $741,739Liabilities 2021: $291,174Net Assets 2021: $450,5652021Assets 2022: $5,544,900Liabilities 2022: $5,240,340Net Assets 2022: $304,5602022Assets 2023: $4,823,012Liabilities 2023: $4,753,213Net Assets 2023: $69,7992023Assets 2024: $4,419,074Liabilities 2024: $3,954,600Net Assets 2024: $464,4742024

Highlighted filing

2016

Assets$1,681,739
Liabilities$1,891,105
Net Assets-$209,366

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $2,696,8382010Expenses 2011: $2,633,1062011Expenses 2012: $2,579,2652012Revenue 2013: $2,350,038Expenses 2013: $2,391,281Net Income 2013: -$41,2432013Revenue 2014: $2,307,263Expenses 2014: $2,380,322Net Income 2014: -$73,0592014Revenue 2015: $2,289,206Expenses 2015: $2,408,479Net Income 2015: -$119,2732015Revenue 2016: $2,456,807Expenses 2016: $2,342,076Net Income 2016: $114,7312016Revenue 2017: $2,532,494Expenses 2017: $2,424,735Net Income 2017: $107,7592017Revenue 2018: $2,336,786Expenses 2018: $2,434,706Net Income 2018: -$97,9202018Revenue 2019: $2,571,142Expenses 2019: $2,608,036Net Income 2019: -$36,8942019Revenue 2020: $2,398,824Expenses 2020: $2,147,282Net Income 2020: $251,5422020Revenue 2021: $2,489,461Expenses 2021: $2,054,017Net Income 2021: $435,4442021Revenue 2022: $2,244,448Expenses 2022: $2,390,453Net Income 2022: -$146,0052022Revenue 2023: $2,283,312Expenses 2023: $2,518,073Net Income 2023: -$234,7612023Revenue 2024: $2,865,951Expenses 2024: $2,471,276Net Income 2024: $394,6752024

Highlighted filing

2016

Revenue$2,456,807
Expenses$2,342,076
Net Income$114,731
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jun 7, 2017
Return Version
2016v3.0
Gross Receipts
$2,471,095
Mission and Program Overview

Mission

Founded by the Government of Spain to promote Spanish language teaching and knowledge of the cultures of Spanish speaking countries throughout the world with a mission to promote, study and use of Spanish as a second language. The Organization promotes performing arts, music, literature, and cinema from the spanish-speaking world through performances, lectures and symosiums, often in partnership with other cultural and educational organizations throughout Chicago.

Promote use of spanish as a second language and spanish cultural activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,679,837$1,423,946▼ $255,891
Savings and Temporary Cash Investments$1,039$101,108▲ $100,069
Accounts Receivable$47,786$71,529▲ $23,743
Cash and Non-Interest-Bearing Accounts$76,823$70,025▼ $6,798
Inventories for Sale or Use$16,324$14,326▼ $1,998
Prepaid Expenses and Deferred Charges$790$805▲ $15
Total Assets$1,822,599$1,681,739▼ $140,860
Liabilities
Unsecured Notes Loans Payable$1,805,211$1,555,951▼ $249,260
Deferred Revenue$244,858$229,722▼ $15,136
Other Liabilities$62,991$70,556▲ $7,565
Accounts Payable and Accrued Expenses$33,636$34,876▲ $1,240
Total Liabilities$2,146,696$1,891,105▼ $255,591
Net Assets / Fund Balance
Unrestricted Net Assets$-324,097$-209,366▲ $114,731
Total Net Assets Fund Balance$-324,097$-209,366▲ $114,731
Total Liabilities and Net Assets / Fund Balance$1,822,599$1,681,739▼ $140,860

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,322,864$2,260,733$3,583,597
Equipment$56,122$495,091$551,213
Other Land Buildings$44,960$411,565$456,525
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Antonio Martinez LucianoPresident & DirectorFT$90,250$90,250
Carmen Blanquez LozanoSecretaryFT$71,550$71,550

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,639,753
Program Service Revenue
$803,234
Investment Income
$68
Other Revenue
$13,752
All Other Contributions
$64,753
Change in Net Assets
$114,731

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,453,995
Revenue Not Reported on Financial Statements
$2,812
Revenue Not Reported on Form 990
$394,892
Other Revenue Adjustments
$2,812
Total Revenue per Audited Statements
$2,848,887
Total Revenue per Form 990
$2,456,807
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,607,783
Salaries, Compensation, and Employee Benefits$734,293
Total Fundraising Expense$13,875
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$756,722$104,374$8,698$869,794
Other Salaries and Wages$583,961$88,498-$672,459
Depreciation Depletion$255,654$35,263$2,939$293,856
Office Expenses$74,524$24,362$592$99,478
Fees for Services Other$51,461$6,105$685$58,251
Payroll Taxes$49,721$7,430-$57,151
Interest$48,637$6,709$559$55,905
Advertising$4,618$32,104-$36,722
Insurance$18,516$2,554$213$21,283
Information Technology$10,963$1,512$126$12,601
Fees for Services Accounting$6,919$2,116-$9,035
Travel$5,483$756$63$6,302
Other Employee Benefits$4,074$609-$4,683
Other Expenses$17,610$1,686-$1,686
Fees for Services Legal$1,220--$1,220
Total Functional Expenses$2,014,123$314,078$13,875$2,342,076

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,734,156
Expenses per Audited Statements$2,342,076
Total Expenses per Form 990$2,342,076
Expenses Not Reported on Form 990$392,080
Expenses Not Reported on Financial Statements$0
International Activity

International Summary

Offices
1
Employees
0
Spending
$1,686

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
Calgary, CanadaSpanish educational and cultural activities located within the University of CalgaryPrograms relating to mastery of the Spanish language and cultural activities10$1,686
Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumReceives grant from Instituto Cervantes SpainReceives grant for Instituto Cervantes of Chicago programs00-
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
Rafael Rodriguez-Ponga SalamancaVice ChairmanEmployee of Instituto Cervantes Spain which provides significant funding to the Organization ($1,575,000 in 2016) and provided $394,892 in donated services in 2016.No$1,969,892
Victor Garcia de la ConchaChairmanEmployee of Instituto Cervantes Spain which provides significant funding to the Organization ($1,575,000 in 2016) and provided $394,892 in donated services in 2016.No$1,969,892
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tuition deposits$70,556
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
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 11B

The Form 990 was reviewed and approved by the Director, Secretary and Assistant Treasurer of the Board of Directors prior to filing.

Form 990, Part VI, Section B, line 15

All of the staff salaries for employees of the Instituto Cervantes network world-wide are determined by an organism within the Spanish Government (the CECIR) based on a series of determining factors such as the country in question and its prevailing cost of living. Executive Committee of the Inter-ministerial Remuneration Committee (CECIR) is made up of an equal number of representatives of the Ministry for Public Administration and the Ministry of Economy and Finance, jointly carrying out the functions of Secretariat, whereby a representative of the Ministries affected by the issues to be discussed attends meetings with the right to participate but not to vote. CECIR is the Body responsible for approving the Employment Contracts, their modifications and particularly, those produced by the variation in the number, name and essential characteristics of the positions and in the requirements for their performance. Likewise, it is the Body responsible for approving basic and specific supplementary payment modifications for positions included in initial contracts and assigning supplementary payments to new positions. In addition, it is the CECIR that annually reviews salaries and approves any applicable pay raises.

Form 990, Part VI, Section C, line 19

Organizing documents available upon request.

Filing and Contact Details

Filer

Filer Name
Instituto Cervantes of Chicago Inc
EIN
36-4092149
Phone
3123351996
Address
31 West Ohio, Chicago, IL 60654

Signing Officer

Name
Antonio Martinez Luciano
Title
Director
Phone
3123351996
Signed
2017-06-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Antonio Martinez Luciano
Formed
1996
Legal Domicile
Il
Voting Board Members
4
Independent Board Members
0
Employees
43
Volunteers
30

Preparer

Firm
Desmond & Ahern Ltd
Address
10827 S Western Ave, Chicago, IL 60643
Preparer
Paul Betlinski
Phone
7737794720
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

FIN 48 Note from Audited Financial Statements: Instituto Cervantes of Chicago, Inc. was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code Section 501(c)(3). The Organization qualifies for the charitable contribution deduction and has been classified as an organization that is not a private foundation. The tax exempt purpose of the Organization and the nature in which it operates is described in the paragraph above. The Organization continues to operate in compliance with its tax exempt purpose. The Organization's annual information and income tax returns filed with the federal and state governments are subject to examination generally for three years after they are filed.

Part XI, Line 4B - Other Adjustments:

Foreign exchange gain 2,812.

Part XII, Line 2D - Other Adjustments:

Foreign exchange gain -2,812.

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IRS990/Desc0The Organization offers specialized and general Spanish language courses as well as examinations for the official diplomas in Spanish as a foreign language (D.E.L.E.) and the Spanish Business Certificate. Instituto Cervantes applies the latest methods for teaching Spanish and supports the work of researchers and Hispanics. The Organization provides the general public with an extensive library containing Spanish and Latin-American books, periodicals, film, and music as well as up to date technology. The Organization also offers cultural activities including art exhibits of local and world-renowned Spanish and Hispanic artists; coordinates the month-long Chicago Flamenco Festival; sponsors book presentations and symposiums by Spanish and Latin-American authors as well as U.S. Hispanic authors; collaborates with the various film festivals that take place in Chicago; coordinates concerts of music from Spain and Latin America; hosts on stage some of the most avant-garde works from Spain and Latin America; sponsors lectures, seminars, and conferences on various contemporary topics such as architecture, cinema, and poetry.
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IRS990/MissionDesc0Founded by the Government of Spain to promote Spanish language teaching and knowledge of the cultures of Spanish speaking countries throughout the world with a mission to promote, study and use of Spanish as a second language. The Organization promotes performing arts, music, literature, and cinema from the spanish-speaking world through performances, lectures and symosiums, often in partnership with other cultural and educational organizations throughout Chicago.
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IRS990/OtherExpensesGrp/TotalAmt217610
IRS990/OtherExpensesGrp/TotalAmt31686
IRS990/OtherLiabilitiesGrp/BOYAmt062991
IRS990/OtherLiabilitiesGrp/EOYAmt070556
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0Miscellaneous
IRS990/OtherRevenueMiscGrp/Desc1Foreign exchange gain
IRS990/OtherRevenueMiscGrp/ExclusionAmt02812
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt04768
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt04768
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt12812
IRS990/OtherRevenueTotalAmt07580
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt088498
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0583961
IRS990/OtherSalariesAndWagesGrp/TotalAmt0672459
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07430
IRS990/PayrollTaxesGrp/ProgramServicesAmt049721
IRS990/PayrollTaxesGrp/TotalAmt057151
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0790
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0805
IRS990/PrincipalOfficerNm0Antonio Martinez Luciano
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2711300
IRS990/ProgramServiceRevenueGrp/BusinessCd3611710
IRS990/ProgramServiceRevenueGrp/BusinessCd4611600
IRS990/ProgramServiceRevenueGrp/Desc0Tuition
IRS990/ProgramServiceRevenueGrp/Desc1Spanish Diploma Progra
IRS990/ProgramServiceRevenueGrp/Desc2Cultural events
IRS990/ProgramServiceRevenueGrp/Desc3Library membership
IRS990/ProgramServiceRevenueGrp/Desc4Training courses
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0615467
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt198374
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt272611
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt312017
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt44765
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0615467
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt198374
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt272611
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt312017
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt44765
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01469197
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt05
IRS990/PYOtherExpensesAmt01635019
IRS990/PYOtherRevenueAmt09018
IRS990/PYProgramServiceRevenueAmt0810986
IRS990/PYRevenuesLessExpensesAmt0-119273
IRS990/PYSalariesCompEmpBnftPaidAmt0773460
IRS990/PYTotalExpensesAmt02408479
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02289206
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0114731
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt01575000
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0814174
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01039
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0101108
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01639753
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01466197
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01528970
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01555282
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01680863
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt07871065
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt02880
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt05
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt027
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt05
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0182
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt03099
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt03969338
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99960
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt07871065
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01639753
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01466197
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01528970
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01555282
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01680863
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt07871065
IRS990ScheduleA/TotalSupportAmt07874164
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt0394892
IRS990ScheduleD/DonatedServicesUseFcltsAmt0394892
IRS990ScheduleD/EquipmentGrp/BookValueAmt056122
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0495091
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0551213
IRS990ScheduleD/ExpensesNotReportedAmt0392080
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02342076
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01322864
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02260733
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt03583597
IRS990ScheduleD/OtherExpensesIncludedAmt0-2812
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt044960
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0411565
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0456525
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt070556
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Tuition deposits
IRS990ScheduleD/OtherRevenuesNotIncludedAmt02812
IRS990ScheduleD/RevenueNotReportedAmt0394892
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt02812
IRS990ScheduleD/RevenueSubtotalAmt02453995
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN 48 Note from Audited Financial Statements: Instituto Cervantes of Chicago, Inc. was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code Section 501(c)(3). The Organization qualifies for the charitable contribution deduction and has been classified as an organization that is not a private foundation. The tax exempt purpose of the Organization and the nature in which it operates is described in the paragraph above. The Organization continues to operate in compliance with its tax exempt purpose. The Organization's annual information and income tax returns filed with the federal and state governments are subject to examination generally for three years after they are filed.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Foreign exchange gain 2,812.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Foreign exchange gain -2,812.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 4b - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01423946
IRS990ScheduleD/TotalExpensesPerForm990Amt02342076
IRS990ScheduleD/TotalLiabilityAmt070556
IRS990ScheduleD/TotalRevenuePerForm990Amt02456807
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02848887
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02734156
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt01
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt01686
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Calgary, Canada
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0Programs relating to mastery of the Spanish language and cultural activities
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt1Receives grant for Instituto Cervantes of Chicago programs
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Spanish educational and cultural activities located within the University of Calgary
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1Receives grant from Instituto Cervantes Spain
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinutationTotalEmployeeCnt00
IRS990ScheduleF/ContinutationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SubtotalEmployeesCnt00
IRS990ScheduleF/SubtotalOfficesCnt01
IRS990ScheduleF/SubtotalSpentAmt01686
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt01
IRS990ScheduleF/TotalSpentAmt01686
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Victor Garcia de la Concha
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1Rafael Rodriguez-Ponga Salamanca
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Chairman
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1Vice Chairman
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd10
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt01969892
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt11969892
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Employee of Instituto Cervantes Spain which provides significant funding to the Organization ($1,575,000 in 2016) and provided $394,892 in donated services in 2016.
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1Employee of Instituto Cervantes Spain which provides significant funding to the Organization ($1,575,000 in 2016) and provided $394,892 in donated services in 2016.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Form 990 was reviewed and approved by the Director, Secretary and Assistant Treasurer of the Board of Directors prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All of the staff salaries for employees of the Instituto Cervantes network world-wide are determined by an organism within the Spanish Government (the CECIR) based on a series of determining factors such as the country in question and its prevailing cost of living. Executive Committee of the Inter-ministerial Remuneration Committee (CECIR) is made up of an equal number of representatives of the Ministry for Public Administration and the Ministry of Economy and Finance, jointly carrying out the functions of Secretariat, whereby a representative of the Ministries affected by the issues to be discussed attends meetings with the right to participate but not to vote. CECIR is the Body responsible for approving the Employment Contracts, their modifications and particularly, those produced by the variation in the number, name and essential characteristics of the positions and in the requirements for their performance. Likewise, it is the Body responsible for approving basic and specific supplementary payment modifications for positions included in initial contracts and assigning supplementary payments to new positions. In addition, it is the CECIR that annually reviews salaries and approves any applicable pay raises.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Organizing documents available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Instituto Cervantes Spain
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ForeignAddress/AddressLine1Txt0C/ALCALA 49

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.42$3.95$0.46$2.87$2.47$0.39
2023Detailed filing. Detailed filing data is available for this year.$4.82$4.75$0.07$2.28$2.52$0.23
2022Detailed filing. Detailed filing data is available for this year.$5.54$5.24$0.30$2.24$2.39$0.15
2021Detailed filing. Detailed filing data is available for this year.$0.74$0.29$0.45$2.49$2.05$0.44
2020Detailed filing. Detailed filing data is available for this year.$0.73$0.71$0.02$2.40$2.15$0.25
2019Detailed filing. Detailed filing data is available for this year.$0.87$1.10$0.24$2.57$2.61$0.04
2018Detailed filing. Detailed filing data is available for this year.$1.13$1.33$0.20$2.34$2.43$0.10
2017Detailed filing. Detailed filing data is available for this year.$1.49$1.60$0.10$2.53$2.42$0.11
2016Detailed filing. Detailed filing data is available for this year.$1.68$1.89$0.21$2.46$2.34$0.11
2015Detailed filing. Detailed filing data is available for this year.$1.82$2.15$0.32$2.29$2.41$0.12
2014Detailed filing. Detailed filing data is available for this year.$2.19$2.40$0.20$2.31$2.38$0.07
2013Detailed filing. Detailed filing data is available for this year.$2.56$2.69$0.13$2.35$2.39$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.78$2.87$0.09$2.58
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.23$3.14$0.09$2.63
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.50$3.25$0.25$2.70