Civic Intelligence

Iit State Street Corporation Nfp

EIN 36-4446296 • 501(c)3 • Chicago, IL

Profile

Provide housing for educational institution students.

3424 S State StreetChicago, IL 60616

none

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2018

Liabilities / Revenue

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

2nd percentile

-195%

Higher net margin than 2% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

15th percentile

$0

Higher top officer pay than 15% of similar nonprofits.

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

501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

3rd percentile

-62%

Faster revenue growth than 3% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Down

$0

Down $27,409,219 (-100%) from 2017

Liabilities

Down

$0

Down $25,199,211 (-100%) from 2017

Net Assets

Down

$0

Down $2,210,008 (-100%) from 2017

Revenue

Down

$1,130,600

Down $1,834,331 (-62%) from 2017

Expenses

Up

$3,340,608

Up $557,742 (+20%) from 2017

Net Income

Down

-$2,210,008

Down $2,392,073 (-1314%) from 2017

Trend Graphs

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2010: $26,608,508Liabilities 2010: $27,748,600Net Assets 2010: -$1,140,0922010Assets 2012: $26,421,635Liabilities 2012: $27,095,000Net Assets 2012: -$673,3652012Assets 2013: $26,811,228Liabilities 2013: $27,020,000Net Assets 2013: -$208,7722013Assets 2014: $27,371,665Liabilities 2014: $26,870,000Net Assets 2014: $501,6652014Assets 2015: $27,928,614Liabilities 2015: $26,500,000Net Assets 2015: $1,428,6142015Assets 2017: $27,409,219Liabilities 2017: $25,199,211Net Assets 2017: $2,210,0082017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2018

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2010: $2,600,2322010Expenses 2012: $2,836,3112012Expenses 2013: $2,798,4592013Revenue 2014: $3,372,541Expenses 2014: $2,662,104Net Income 2014: $710,4372014Revenue 2015: $3,617,294Expenses 2015: $2,690,345Net Income 2015: $926,9492015Revenue 2017: $2,964,931Expenses 2017: $2,782,866Net Income 2017: $182,0652017Revenue 2018: $1,130,600Expenses 2018: $3,340,608Net Income 2018: -$2,210,0082018

Highlighted filing

2018

Revenue$1,130,600
Expenses$3,340,608
Net Income-$2,210,008

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jun 1, 2017 to May 16, 2018
Signed
Feb 13, 2019
Return Version
2017v2.3
Gross Receipts
$20,757,470
Mission and Program Overview

Mission

Provide housing for educational institution students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$20,065,560$0▼ $20,065,560
Savings and Temporary Cash Investments$5,673,004$0▼ $5,673,004
Cash and Non-Interest-Bearing Accounts$1,111,282$0▼ $1,111,282
Accounts Receivable$559,373$0▼ $559,373
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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$27,409,219$0▼ $27,409,219
Other Assets Total-$0-
Liabilities
Tax Exempt Bond Liabilities$25,199,211--
Total Liabilities$25,199,211$0▼ $25,199,211
Net Assets / Fund Balance
Unrestricted Net Assets$2,210,008$0▼ $2,210,008
Total Net Assets Fund Balance$2,210,008$0▼ $2,210,008
Total Liabilities and Net Assets / Fund Balance$27,409,219$0▼ $27,409,219
Compensation and Service Providers

Board Members and Trustees

NameTitle
Bruce WattsBoard Chair
Kathrine StetzPresident
Charles T MenghiniDirector
Robert B FootlickDirector
Robert D HoelDirector
Michael HoranDirector - as of 10/16/2017
Frances BronetDirector - Until 10/16/2017
ANTHONY D'AMATOSecretary/general Counsel
Ali BaldwinTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Illinois Institute Of TechnologyUtilities/maintenance3424 S STATE STREET, Chicago, IL 60616$711,746
Exclusive Construction ServiceConstruction234 N FAIRFIELD AVENUE, Chicago, IL 60612$138,840
Burns Mechanical INCMaintenance Services504 TALCOTT AVENUE, Lemont, IL 60622$133,590
Midway Building ServicesJanitorial Services1915 W HUBBARD STREET, Chicago, IL 60622$127,800
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,816,085
Investment Income
$-1,685,485
Other Revenue
$0
Change in Net Assets
$-2,210,008

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,857,470
Revenue Not Reported on Financial Statements
$-1,726,870
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-1,726,870
Total Revenue per Audited Statements
$2,857,470
Total Revenue per Form 990
$1,130,600
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,340,608
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$973,043--$973,043
Interest$595,060--$595,060
Fees for Services Other$434,041--$434,041
Occupancy$277,119--$277,119
All Other Expenses$10,821$54,125-$64,946
Other Expenses$62,951$240,576-$62,951
Fees for Services Management$26,920--$26,920
Total Functional Expenses$2,704,855$635,753$0$3,340,608

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,067,478
Expenses per Audited Statements$3,340,608
Total Expenses per Form 990$3,340,608
Expenses Not Reported on Form 990$1,726,870
Expenses Not Reported on Financial Statements$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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Directors for Organization and Management for Recipient OrganizationSale of State Street Village Residence Hall to Illinois Institute of Technology, a Related Party Organization.No$17,900,000

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The iit state street corporation, nfp entered into a management agreement with illinois institute of technology by which the latter is responsible for the collection of all fees, payment of operating expenses, and performance of certain management obligations, as defined in the agreement.

Form 990, Part VI, Section A, Line 7A

Illinois institute of technology, has the right to nominate two directors to the board of directors.

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

The 990 is reviewed each year by the board of directors prior to filing. The accounting firm which prepares that return is available to discuss the return with the board of directors.

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

At the time of its dissolution and for many years prior, the corporation had a written conflict of interest policy that required officers, directors, or trustees, and key employees to disclose annually interests that could give rise to conflicts. Compliance with this policy was monitored by the treasurer, secretary and chair of the board. Pursuant to the corporation's regular practice, disclosures were generally required to be submitted in october of each year. As the corporation was dissolved in may 2018, disclosures were not made for the fiscal year covered in this form 990, though the corporation received all such disclosures for prior fiscal years.

Form 990, Part VI, Section C, Line 19

The iit state street corporation, nfp makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Iit State Street Corporation Nfp
EIN
36-4446296
Phone
3125673334
Address
3424 S STATE STREET, CHICAGO, IL 60616

Signing Officer

Name
Ali Baldwin
Title
Treasurer
Phone
3125673334
Signed
2019-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ali Baldwin
Formed
2001
Legal Domicile
Il
Voting Board Members
5
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Cliftonlarsonallen Llp
Address
1301 W 22ND ST STE 1100, OAK BROOK, IL 60523
Preparer
James R Thomas
Phone
6305738600
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contracted services: program service expenses 349,072. Management and general expenses 0. Fundraising expenses 0. Total expenses 349,072. Other professional fees: program service expenses 84,969. Management and general expenses 0. Fundraising expenses 0. Total expenses 84,969.

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The corporation follows the requirements for accounting for uncertain tax positions. The corporation determined that it was not required to record a liability related to uncertain positions.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Loss on sale of property -1,726,870.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Loss on sale of property 1,726,870.

Raw XML AppendixShowing 400 of 485 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/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0ALI BALDWIN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531190
IRS990/ProgramServiceRevenueGrp/Desc0ROOM RENTAL
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02816085
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02816085
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt053614
IRS990/PYOtherExpensesAmt02782866
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt02911317
IRS990/PYRevenuesLessExpensesAmt0182065
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt02782866
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02964931
IRS990/QuidProQuoContributionsInd00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-2210008
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02816085
IRS990/SavingsAndTempCashInvstGrp/BOYAmt05673004
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE CURRENT YEAR TAX YEAR FOR IIT STATE STREET CORPORATION, NFP WAS A SHORT YEAR. PER THE ENTITY'S ARTICLES OF DISSOLUTION, AS A RESULT OF THE SALE OF THE RESIDENCE HALL BUILDING, THE ENTITY WOULD BE DISSOLVED UPON AS OF THE DATE THAT THE ARTICLES OF DISSOLUTION IS LAST SIGNED BY A DIRECTOR WHICH WAS MAY 16, 2018.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 14
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt041385
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt053614
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt037922
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt021145
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt030167
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0184233
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt02816085
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt02911317
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt03166216
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt03596149
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt03342374
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt015832141
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt041385
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt053614
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt037922
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt021145
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt030167
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0184233
IRS990ScheduleA/InvestmentIncomeCYPct00.01150
IRS990ScheduleA/InvestmentIncomePYPct00.01010
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98850
IRS990ScheduleA/PublicSupportPY509Pct00.98990
IRS990ScheduleA/PublicSupportTotal509Amt015832141
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt02816085
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt02911317
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt03166216
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt03596149
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt03342374
IRS990ScheduleA/Total509Grp/TotalAmt015832141
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02857470
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt02964931
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt03204138
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt03617294
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt03372541
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt016016374
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt01726870
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03340608
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherExpensesIncludedAmt01726870
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-1726870
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-1726870
IRS990ScheduleD/RevenueSubtotalAmt02857470
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION FOLLOWS THE REQUIREMENTS FOR ACCOUNTING FOR UNCERTAIN TAX POSITIONS. THE CORPORATION DETERMINED THAT IT WAS NOT REQUIRED TO RECORD A LIABILITY RELATED TO UNCERTAIN POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1LOSS ON SALE OF PROPERTY -1,726,870.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2LOSS ON SALE OF PROPERTY 1,726,870.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt03340608
IRS990ScheduleD/TotalRevenuePerForm990Amt01130600
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02857470
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05067478
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0BRUCE WATTS AND MICHAEL HORAN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0DIRECTORS FOR ORGANIZATION AND MANAGEMENT FOR RECIPIENT ORGANIZATION
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt017900000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0SALE OF STATE STREET VILLAGE RESIDENCE HALL TO ILLINOIS INSTITUTE OF TECHNOLOGY, A RELATED PARTY ORGANIZATION.
IRS990ScheduleN/AssetsDistributedInd01
IRS990ScheduleN/AttorneyGeneralNotifiedInd01
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessorInd00
IRS990ScheduleN/EmployeeOfSuccessorInd00
IRS990ScheduleN/LiabilitiesPaidInd01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1STATE STREET VILLAGE RESIDENCE HALL
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0ILLINOIS INSTITUTE OF TECHNOLOGY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt1ILLINOIS INSTITUTE OF TECHNOLOGY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02018-05-16
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12018-05-07
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0362170136
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN1362170136
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt0240576
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt119626870
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(C)(3)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt1501(C)(3)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0DISCOUNTED CASH FLOWS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt1ACTUAL COST
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt010 W 35TH STREET
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt110 W 35TH STREET
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0CHICAGO
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm1CHICAGO
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0IL
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd1IL
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd060616
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd160616
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE IIT STATE STREET CORPORATION, NFP ENTERED INTO A MANAGEMENT AGREEMENT WITH ILLINOIS INSTITUTE OF TECHNOLOGY BY WHICH THE LATTER IS RESPONSIBLE FOR THE COLLECTION OF ALL FEES, PAYMENT OF OPERATING EXPENSES, AND PERFORMANCE OF CERTAIN MANAGEMENT OBLIGATIONS, AS DEFINED IN THE AGREEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ILLINOIS INSTITUTE OF TECHNOLOGY, HAS THE RIGHT TO NOMINATE TWO DIRECTORS TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 IS REVIEWED EACH YEAR BY THE BOARD OF DIRECTORS PRIOR TO FILING. THE ACCOUNTING FIRM WHICH PREPARES THAT RETURN IS AVAILABLE TO DISCUSS THE RETURN WITH THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AT THE TIME OF ITS DISSOLUTION AND FOR MANY YEARS PRIOR, THE CORPORATION HAD A WRITTEN CONFLICT OF INTEREST POLICY THAT REQUIRED OFFICERS, DIRECTORS, OR TRUSTEES, AND KEY EMPLOYEES TO DISCLOSE ANNUALLY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. COMPLIANCE WITH THIS POLICY WAS MONITORED BY THE TREASURER, SECRETARY AND CHAIR OF THE BOARD. PURSUANT TO THE CORPORATION'S REGULAR PRACTICE, DISCLOSURES WERE GENERALLY REQUIRED TO BE SUBMITTED IN OCTOBER OF EACH YEAR. AS THE CORPORATION WAS DISSOLVED IN MAY 2018, DISCLOSURES WERE NOT MADE FOR THE FISCAL YEAR COVERED IN THIS FORM 990, THOUGH THE CORPORATION RECEIVED ALL SUCH DISCLOSURES FOR PRIOR FISCAL YEARS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE IIT STATE STREET CORPORATION, NFP MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 349,072. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 349,072. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 84,969. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 84,969.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00

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