Liabilities / Assets
Score unavailable
Liabilities-to-assets requires both liabilities and assets on the latest valid filing.
Founders Woods Ltd
EIN 36-4376857 • 501(c)3 • Lisle, IL
Profile
Establish, maintain, support, and operate housing for the students of benedictine university.
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
No value available
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on the latest valid filing.
Top Officer Pay
Score unavailable
No filing with officer rows is available for this organization yet.
Asset Growth
Score unavailable
A valid growth rate could not be computed from the available filing history.
Revenue Growth
Score unavailable
A valid growth rate could not be computed from the available filing history.
Balance Sheet
Assets
Flat$0
Flat from 2018
Liabilities
Flat$0
Flat from 2018
Net Assets
Flat$0
Flat from 2018
Revenue
Flat$0
Flat from 2018
Expenses
Flat$0
Flat from 2018
Net Income
Flat$0
Flat from 2018
Trend Graphs
Filings
Most recent year
2019 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $0
- Liabilities
- $0
- Net assets
- $0
- Revenue
- $0
- Expenses
- $0
- Net income
- $0
Latest Filing Detail
Jump To
Filing Snapshot
- Filing Period
- Jun 1, 2018 to May 31, 2019
- Signed
- Apr 14, 2020
- Return Version
- 2018v3.1
- Gross Receipts
- $0
Mission and Program Overview
Mission
Establish, maintain, support, and operate housing for the students of benedictine university.
As of 6/1/2017, the organization transferred all assets, liabilities, debts, and obligations to a related party, Benedictine University.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $0 | $0 | → $0 |
| Receivable From Disqualified Prsn | - | $0 | - |
| Receivables From Officers Etc | $0 | $0 | → $0 |
| Investments Other Securities | $0 | - | - |
| Investments Program Related | $0 | - | - |
| Land, Buildings, and Equipment, Net | - | $0 | - |
| Loans From Officers Directors | - | $0 | - |
| Other Assets Total | $0 | $0 | → $0 |
| Total Assets | $0 | $0 | → $0 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $0 | $0 | → $0 |
| Other Liabilities | $0 | $0 | → $0 |
| Tax Exempt Bond Liabilities | $0 | $0 | → $0 |
| Total Liabilities | $0 | $0 | → $0 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $0 | $0 | → $0 |
| Total Net Assets Fund Balance | $0 | $0 | → $0 |
| Total Liabilities and Net Assets / Fund Balance | $0 | $0 | → $0 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| - | President |
| - | Vice President |
| - | Director |
| - | SECRETARY - End 8/10/2018 |
| - | SECRETARY - Start 8/10/2018 |
| - | Treasurer, VP for Administration & Finance, CFO |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $0
- Investment Income
- $0
- Other Revenue
- $0
- Change in Net Assets
- $0
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $0 |
| Other Expenses | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
Insider Transactions and Loans
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | - | $0 | - |
| Receivables from Disqualified Persons | - | $0 | - |
| Receivables from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Audit committee
- 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
- No
- Other officer compensation reviewed
- No
- 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, Line 15A process to establish compensation of top management official
“COMPENSATION FOR THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL IS PAID BY BENEDICTINE UNIVERSITY, A RELATED TAX EXEMPT ORGANIZATION. The process of determining compensation of the President of the University: The Chairman of the Board of Trustees and two independent members of the Board comprised the Compensation Committee. This group reviewed and determined executive compensation through the use of comparable compensation data from various sources including relevant external compensation surveys, compensation data from peer educational institutions, and internal executive equity analysis. The committee met and reviewed salary history and performed an analysis in reaching the annual compensation. Based on this analysis, the Compensation Committee made a recommendation to the Executive Committee of the Board of Trustees for final approval. Contemporaneous documentation was kept and maintained. LAST MEETING WAS IN NOVEMBER 2017. BECAUSE THE ORGANIZATION'S PRESIDENT AND OTHER OFFICERS ARE NOT PAID BY THE FILING ORGANIZATION, THE FORM 990 INSTRUCTIONS REQUIRE THIS TO BE ANSWERED "NO."”
Form 990, Part VI, Line 15B PROCESS TO ESTABLISH COMPENSATION OF OTHER OFFICERS
“COMPENSATION FOR THE ORGANIZATION'S OTHER OFFICERS IS PAID BY BENEDICTINE UNIVERSITY, A RELATED TAX EXEMPT ORGANIZATION. The Board of Trustees met in October 2017 when a preliminary operating budget was approved by the Board. Search firms specializing in higher education placement and case compensation data were used. Documentation was kept and maintained. BECAUSE THE ORGANIZATION'S OTHER OFFICERS AND EMPLOYEES ARE NOT PAID BY THE FILING ORGANIZATION, THE FORM 990 INSTRUCTIONS REQUIRE THIS TO BE ANSWERED "NO."”
Form 990, Part VI, Line 8B Documentation of meetings held by committees of governing body
“Founders woods has no committees that are authorized to act on behalf of the board”
Form 990, Part VI, Line 11B Review of form 990 by governing body
“The interim cfo, along with other members of the benedictine university business and finance department, reviewed the draft form 990, together with its outside accounting firm. The completed 990 is reviewed by the benedictine university finance and audit committee of the board of trustees. A copy is provided to each member of the full board of trustees of founders woods prior to filing.”
Form 990, Part VI, Line 19 Required documents available to the public
“Founders woods makes its governing documents and financial information available to the public upon request. The benedictine university conflicts of interest policy is also available upon request and is posted on the compliance page of the university's website.”
Filing and Contact Details
Filer
- Filer Name
- Founders Woods LTD
- EIN
- 36-4376857
- Phone
- 6308296000
- Address
- 5700 College Road, Lisle, IL 60532
Signing Officer
- Name
- Irene Gendel
- Title
- Interim CFO
- Signed
- 2020-04-14
- Discuss with paid preparer
- Yes
Organization Details
- Formed
- 2000
- Legal Domicile
- Il
- Voting Board Members
- 8
- Independent Board Members
- 3
- Employees
- 0
- Volunteers
- 3
Preparer
- Firm
- Crowe Llp
- Address
- 225 West Wacker Drive Suite 2600, Chicago, IL 60606-1224
- Preparer
- Jennifer Burke
- Phone
- 3128997000
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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/Form990PartVIISectionAGrp/TitleTxt | 3 | SECRETARY - Start 8/10/2018 |
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| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BusinessName/BusinessNameLine1Txt | 2 | MICHAEL BROPHY |
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| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 0 | TREASURER, VP FOR ADMINISTRATION & FINANCE, CFO |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 1 | SECRETARY - Start 8/10/2018 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 2 | SECRETARY - End 8/10/2018 |
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| IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt | 0 | The organization did not compensate any individuals. All compensation listed is paid by Benedictine University, a related organization. Methods to establish the compensation of the top management official's compensation include a compensation committee, the Form 990 of other organizations, compensation surveys or studies, and approval by the compensation committee. |
| IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation |
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| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | COMPENSATION FOR THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL IS PAID BY BENEDICTINE UNIVERSITY, A RELATED TAX EXEMPT ORGANIZATION. The process of determining compensation of the President of the University: The Chairman of the Board of Trustees and two independent members of the Board comprised the Compensation Committee. This group reviewed and determined executive compensation through the use of comparable compensation data from various sources including relevant external compensation surveys, compensation data from peer educational institutions, and internal executive equity analysis. The committee met and reviewed salary history and performed an analysis in reaching the annual compensation. Based on this analysis, the Compensation Committee made a recommendation to the Executive Committee of the Board of Trustees for final approval. Contemporaneous documentation was kept and maintained. LAST MEETING WAS IN NOVEMBER 2017. BECAUSE THE ORGANIZATION'S PRESIDENT AND OTHER OFFICERS ARE NOT PAID BY THE FILING ORGANIZATION, THE FORM 990 INSTRUCTIONS REQUIRE THIS TO BE ANSWERED "NO." |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | COMPENSATION FOR THE ORGANIZATION'S OTHER OFFICERS IS PAID BY BENEDICTINE UNIVERSITY, A RELATED TAX EXEMPT ORGANIZATION. The Board of Trustees met in October 2017 when a preliminary operating budget was approved by the Board. Search firms specializing in higher education placement and case compensation data were used. Documentation was kept and maintained. BECAUSE THE ORGANIZATION'S OTHER OFFICERS AND EMPLOYEES ARE NOT PAID BY THE FILING ORGANIZATION, THE FORM 990 INSTRUCTIONS REQUIRE THIS TO BE ANSWERED "NO." |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | FOUNDERS WOODS HAS NO COMMITTEES THAT ARE AUTHORIZED TO ACT ON BEHALF OF THE BOARD |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE INTERIM CFO, ALONG WITH OTHER MEMBERS OF THE BENEDICTINE UNIVERSITY BUSINESS AND FINANCE DEPARTMENT, REVIEWED THE DRAFT FORM 990, TOGETHER WITH ITS OUTSIDE ACCOUNTING FIRM. THE COMPLETED 990 IS REVIEWED BY THE BENEDICTINE UNIVERSITY FINANCE AND AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. A COPY IS PROVIDED TO EACH MEMBER OF THE FULL BOARD OF TRUSTEES OF FOUNDERS WOODS PRIOR TO FILING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | FOUNDERS WOODS MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL INFORMATION AVAILABLE TO THE PUBLIC UPON REQUEST. THE BENEDICTINE UNIVERSITY CONFLICTS OF INTEREST POLICY IS ALSO AVAILABLE UPON REQUEST AND IS POSTED ON THE COMPLIANCE PAGE OF THE UNIVERSITY'S WEBSITE. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part VI, Line 15a process to establish compensation of top management official |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Line 15b PROCESS TO ESTABLISH COMPENSATION OF OTHER OFFICERS |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Line 11b Review of form 990 by governing body |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990, Part VI, Line 19 Required documents available to the public |
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