Civic Intelligence

Millennium Park Foundation

990 • Fiscal year 2020 • EIN 36-4244167

Jan 01, 2020 to Dec 31, 2020 • Filed on May 07, 2021

201 East RandolphChicago, IL 60601

(312) 605-8580

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

14th percentile

0.06x

Higher debt load relative to revenue than 14% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

8th percentile

-34%

Higher net margin than 8% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

27th percentile

$168,671

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 11.5% of source-year revenue.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

35th percentile

2.3%

Faster asset growth than 35% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

12th percentile

-30%

Faster revenue growth than 12% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Assets

Up

$43,116,069

Up $983,243 (+2.3%) from 2019

Net Assets

Up

$43,021,391

Up $1,248,127 (+3.0%) from 2019

Liabilities

Down

$94,678

Down $264,884 (-74%) from 2019

Revenue

Down

$1,469,297

Down $619,716 (-30%) from 2019

Expenses

Down

$1,964,334

Down $3,072,685 (-61%) from 2019

Net Income

Up

-$495,037

Up $2,452,969 (+83%) from 2019

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2012: $35,264,025Liabilities 2012: $80,774Net Assets 2012: $35,183,2512012Assets 2014: $39,553,637Liabilities 2014: $165,127Net Assets 2014: $39,388,5102014Assets 2015: $39,354,470Liabilities 2015: $144,346Net Assets 2015: $39,210,1242015Assets 2016: $42,191,596Liabilities 2016: $1,250,665Net Assets 2016: $40,940,9312016Assets 2017: $45,312,212Liabilities 2017: $377,884Net Assets 2017: $44,934,3282017Assets 2018: $41,309,790Liabilities 2018: $1,249,704Net Assets 2018: $40,060,0862018Assets 2019: $42,132,826Liabilities 2019: $359,562Net Assets 2019: $41,773,2642019Assets 2020: $43,116,069Liabilities 2020: $94,678Net Assets 2020: $43,021,3912020Assets 2021: $52,901,717Liabilities 2021: $239,457Net Assets 2021: $52,662,2602021Assets 2022: $44,371,110Liabilities 2022: $61,661Net Assets 2022: $44,309,4492022Assets 2023: $49,650,509Liabilities 2023: $75,259Net Assets 2023: $49,575,2502023Assets 2024: $51,941,307Liabilities 2024: $44,417Net Assets 2024: $51,896,8902024

Highlighted filing

2020

Assets$43,116,069
Liabilities$94,678
Net Assets$43,021,391

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2012: $1,146,8492012Revenue 2014: $2,936,846Expenses 2014: $2,235,536Net Income 2014: $701,3102014Revenue 2015: $3,199,156Expenses 2015: $1,750,005Net Income 2015: $1,449,1512015Revenue 2016: $3,527,958Expenses 2016: $2,968,013Net Income 2016: $559,9452016Revenue 2017: $4,211,030Expenses 2017: $4,808,031Net Income 2017: -$597,0012017Revenue 2018: $895,992Expenses 2018: $3,767,016Net Income 2018: -$2,871,0242018Revenue 2019: $2,089,013Expenses 2019: $5,037,019Net Income 2019: -$2,948,0062019Revenue 2020: $1,469,297Expenses 2020: $1,964,334Net Income 2020: -$495,0372020Revenue 2021: $12,169,207Expenses 2021: $2,530,664Net Income 2021: $9,638,5432021Revenue 2022: $2,026,396Expenses 2022: $2,125,666Net Income 2022: -$99,2702022Revenue 2023: $2,522,653Expenses 2023: $1,792,211Net Income 2023: $730,4422023Revenue 2024: $3,938,896Expenses 2024: $3,452,791Net Income 2024: $486,1052024

Highlighted filing

2020

Revenue$1,469,297
Expenses$1,964,334
Net Income-$495,037
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 7, 2021
Return Version
2020v4.1
Gross Receipts
$10,953,676
Mission and Program Overview

Mission

The organization's mission is to provide support to the city of chicago in its operation and programming of millennium park, and serve as the park's curators.

The organization's mission is to provide support to the city of chicago in its operation and (sch o) programming of millennium park, and serve as the park's curators.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$21,614,262$22,166,236▲ $551,974
Investments in Publicly Traded Securities$15,367,787$17,238,084▲ $1,870,297
Pledges and Grants Receivable$3,122,066$1,972,255▼ $1,149,811
Savings and Temporary Cash Investments$1,862,571$1,668,169▼ $194,402
Land, Buildings, and Equipment, Net$138,543$54,372▼ $84,171
Total Assets$42,132,826$43,116,069▲ $983,243
Other Assets Total$27,597$16,953▼ $10,644
Liabilities
Accounts Payable and Accrued Expenses$349,413$84,529▼ $264,884
Other Liabilities$10,149$10,149→ $0
Total Liabilities$359,562$94,678▼ $264,884
Net Assets / Fund Balance
Net Assets With Donor Restrictions$32,006,087$32,781,689▲ $775,602
Net Assets Without Donor Restrictions$9,767,177$10,239,702▲ $472,525
Total Net Assets Fund Balance$41,773,264$43,021,391▲ $1,248,127
Total Liabilities and Net Assets / Fund Balance$42,132,826$43,116,069▲ $983,243

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$54,372$757,162$811,534
Other Securities$22,166,236--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$20,807,769-▲ $1,503,340-$22,311,109
2019$20,782,769$25,000--$20,807,769
2018$24,028,543$100,000▼ $1,668,127$-1,677,647$20,782,769
2017$21,314,961-▲ $3,627,778$-914,196$24,028,543
2016$21,343,897-▲ $1,260,834$-1,289,770$21,314,961
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Scott StewartExecutive DirectorFT$166,400$2,271$168,671

Board Members and Trustees

NameTitle
Donna LapietraBoard Chair & President
A Steven CrownDirector
Craig C MartinDirector
Doug MabieDirector
Gigi PritzkerDirector
JAMES J O'CONNOR JRDirector
JAMES J O'CONNOR SRDirector
James F FeldsteinDirector
John MabieDirector
John W RogersDirector
Michael KeiserDirector
Randall MehrbergDirector
Scott HurwitzDirector
William SickDirector
Henry KleemanSecretary & General Counse
Cary D McmillanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Chicago Corrosion Group LLCEngineering Consulting9021 KOSTNER AVENUE, Skokie, IL 60076$221,132
Austin Eischeid Garden DesignGarden Design1215 WEST GUNNISON AVENUE, Chicago, IL 60640$185,589
Mb Real EstateManagement Company In Park181 W MADISON STREET, Chicago, IL 60602$182,225
Wje Wiss Janney Elstner Associates InTrellis Recoating ProjectPO BOX 204645, Dallas, TX 75320$100,212
Revenue and Support

Revenue Composition

Contributions and Grants
$405,231
Program Service Revenue
$0
Investment Income
$1,062,145
Other Revenue
$1,921
All Other Contributions
$403,476
Change in Net Assets
$-495,037

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,469,297
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,638,290
Total Revenue per Audited Statements
$3,107,587
Total Revenue per Form 990
$1,469,297
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,501,138
Salaries, Compensation, and Employee Benefits$463,196
Total Fundraising Expense$74,882
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$185,385$44,983$1,759$232,127
Other Expenses$157,231$18,278$4,650$180,159
Current Officers, Directors, Trustees, and Key Employees$73,216$66,560$26,624$166,400
Fees for Service Investment Mgmnt Fees-$104,874-$104,874
Fees for Services Other$58,834$21,445$9,197$89,476
Depreciation Depletion$79,101$6,233$1,586$86,920
Fees for Services Accounting-$78,831-$78,831
Office Expenses$33,399$23,192$5,901$62,492
Other Employee Benefits$26,583$5,827$1,483$33,893
Payroll Taxes$18,938$7,855$1,999$28,792
Travel$4,244$2,355$700$7,299
Insurance-$5,925-$5,925
Pension Plan Contributions$885$876$223$1,984
Total Functional Expenses$1,457,455$431,997$74,882$1,964,334

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,964,334
Expenses per Audited Statements$1,859,460
Total Expenses per Audited Statements$1,859,460
Expenses Not Reported on Financial Statements$104,874
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held on Behalf of Others$10,149
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
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
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Board member douglas mabie is the son of board member john mabie. Board member james o'connor, jr., also the son of of board member james o'connor.

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

The audit committee sends a copy of the return to all board members before it is filed. The audit committee will schedule a meeting with the tax preparer to review the returns before signing and filing.

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

Any potential conflict of interest transactions involving board members are referred to the audit committee for review. The board monitors conflicts at the board level and with respect to any consultants to the extent a board member has conflict of interest, the board member is required to recuse themselves from any deliberation and decision regarding this matter.

Form 990, Part VI, Section C, Line 18

The organization's 990 is available on guidestar's website and it and other requested documents are also available upon requests made directly to mpf.

Form 990, Part VI, Section C, Line 19

The organization makes all public documents available to the public upon specific requests.

Filing and Contact Details

Filer

Filer Name
Millennium Park Foundation
EIN
36-4244167
Phone
3126058580
Address
201 EAST RANDOLPH, CHICAGO, IL 60601

Signing Officer

Name
Donna Lapietra
Title
Chair
Phone
3126058580
Signed
2021-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donna Lapietra
Formed
1998
Legal Domicile
Il
Voting Board Members
16
Independent Board Members
16
Employees
10
Volunteers
81

Preparer

Firm
Baker Tilly Virchow Krause Llp
Address
205 N MICHIGAN AVE 2800, CHICAGO, IL 60601-5927
Preparer
Mark Heroux
Phone
3127298000
Supplemental Narrative

Additional Explanations

FORM 990, PART II LINE 2C:

The organization neither changed its oversight process or selection process during the tax year.

Financial Statement Notes

PART X, LINE 2:

The foundation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code and applicable state law. Accordingly, no provisions for such taxes has been recognized in these financial statements. However, exempt organizations may be subject to income tax on any unrelated business income. During 2020 and 2019, the foundation did not have any unrelated business income. The accounting standard on accounting for uncertainty in income taxes 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 foundation 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. At december 31, 2020 and 2019, there were no unrecognized tax benefits identified or recorded as liabiltiies. The foundation files forms 990 and il 990-ag in the u.s. Federal jurisdiction and the state of illinois, respectively. The organization is generally no longer subject to examination by the internal revenue service for years before 2017.

PART V, LINE 4:

The endowment funds are used to maintain the lurie garden, support exhibits in the boeing gallery, support fitness program, and support cultural presentations.

Raw XML AppendixShowing 400 of 594 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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IRS990/Desc0MILLENNIUM PARK FOUNDATION (MPF) PROVIDES SUPPORT TO THE CITY OF CHICAGO IN ITS OPERATION AND PROGRAMMING OF MILLENNIUM PARK. MPF PROVIDES ANNUAL SUPPORT IN MANY WAYS, INCLUDING CURATING AND MAINTAINING PUBLIC ART SUCH AS CLOUD GATE AND THE CROWN FOUNTAIN, CURATING AND MAINTAINING PUBLIC SCULPTURE EXHIBITIONS IN THE BOEING GALLERIES, MAINTAINING THE LURIE GARDEN, SUPPORTING SUMMER AND WINTER EXERCISE PROGRAMS, AND ENHANCING LANDSCAPE THROUGHOUT THE PARK. MPF SUPPORTS THE CITY OF CHICAGO WITH MANY OTHER FREE ARTS & CULTURE PROGRAMS AT THE PARK. THE SUPPORT PROVIDED BY MPF IS ESSENTIAL FOR THE PARK TO BE MAINTAINED AT THE HIGHEST STANDARDS AND RETAIN ITS STANDING AS ONE OF CHICAGO'S MOST POPULAR ATTRACTIONS.
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IRS990/Form990PartVIISectionAGrp/PersonNm7JAMES J O'CONNOR SR
IRS990/Form990PartVIISectionAGrp/PersonNm8WILLIAM SICK
IRS990/Form990PartVIISectionAGrp/PersonNm9RANDALL MEHRBERG
IRS990/Form990PartVIISectionAGrp/PersonNm10JAMES F FELDSTEIN
IRS990/Form990PartVIISectionAGrp/PersonNm11GIGI PRITZKER
IRS990/Form990PartVIISectionAGrp/PersonNm12A STEVEN CROWN
IRS990/Form990PartVIISectionAGrp/PersonNm13JAMES J O'CONNOR JR
IRS990/Form990PartVIISectionAGrp/PersonNm14JOHN W ROGERS
IRS990/Form990PartVIISectionAGrp/PersonNm15CRAIG C MARTIN
IRS990/Form990PartVIISectionAGrp/PersonNm16SCOTT STEWART
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD CHAIR & PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY & GENERAL COUNSE
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01998
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IRS990/FSAuditedInd01
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IRS990/GrantsToOrganizationsInd00
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IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE ORGANIZATION'S MISSION IS TO PROVIDE SUPPORT TO THE CITY OF CHICAGO IN ITS OPERATION AND PROGRAMMING OF MILLENNIUM PARK, AND SERVE AS THE PARK'S CURATORS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/OfficeExpensesGrp/FundraisingAmt05901
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt023192
IRS990/OfficeExpensesGrp/ProgramServicesAmt033399
IRS990/OfficeExpensesGrp/TotalAmt062492
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt016953
IRS990/OtherChangesInNetAssetsAmt00
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt033893
IRS990/OtherExpensesGrp/Desc0PARK REPAIRS & IMPROVEM
IRS990/OtherExpensesGrp/Desc1PROGRAM COST
IRS990/OtherExpensesGrp/Desc2DIRECT SERVICES
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IRS990/OtherExpensesGrp/FundraisingAmt111075
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt218278
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IRS990/OtherExpensesGrp/ProgramServicesAmt2157231
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IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt01668169
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0ALTHOUGH MILLENNIUM PARK FOUNDATION FAILED TO MEET THE 33 1/3% TEST, IT MEETS THE 10% SUPPORT RULE AND THE FACTS AND CIRCUMSTANCES TEST BASED ON THE FOLLOWING FACTORS: 1. FOR THE TAX YEAR ENDED DECEMBER 31, 2020, MILLENNIUM PARK FOUNDATION RECEIVED SUPPORT FROM THE GENERAL PUBLIC THAT DID NOT EXCEED THE 2% TEST. 2. MILLENNIUM PARK FOUNDATION IS DEDICATED TO MAINTAINING MILLENNIUM PARK AS A FREE VENUE FOR ALL CHICAGOANS AND VISITORS TO CHICAGO. THE FOUNDATION SUPPORTS FACILITIES AND PROGRAMS TO ENSURE A FREE AND DIVERSE PUBLIC SPACE WHICH IS OPEN TO THE GENERAL PUBLIC. 3. MILLENNIUM PARK FOUNDATION WORKS IN PARTNERSHIP WITH THE CITY OF CHICAGO'S DEPARTMENT OF CULTURAL AFFAIRS AND SPECIAL EVENTS TO PROVIDE PROGRAMMING AND CONSERVATION OF SEVERAL FEATURE WITHIN THE PARK, INCLUDING PUBLIC GARDENS, SCULPTURE GALLERIES, AND PUBLIC ART. MILLENNIUM PARK HOSTS 20 MILLION PARK VISITORS, 500 FREE PUBLIC PROGRAMS, 20,000 YOGA PARTICIPANTS, AND 100,000 ICE SKATERS. 4. MILLENNIUM PARK FOUNDATION IS SUPPORTED BY THE CITY OF CHICAGO'S DEPARTMENT OF CULTURAL AFFAIRS, AND BY CIVIC AND COMMUNITY LEADERS, AND BY PUBLIC OFFICIALS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0FORM 990, SCHEDULE A, PART II, SECTION C, LINE 17A:
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