Civic Intelligence

Math Circles of Chicago

990 • Fiscal year 2021 • EIN 45-2071512

Jul 01, 2020 to Jun 30, 2021 • Filed on May 24, 2022

Organization Profilewww.mathcirclesofchicago.org

View Organization Page

1034 North WellsChicago, IL 60610

(773) 968-3141

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

56th percentile

0.00x

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

73rd percentile

28%

Higher net margin than 73% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

98th percentile

$94,536

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 25.0% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

87th percentile

84%

Faster asset growth than 87% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

69th percentile

33%

Faster revenue growth than 69% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$233,477

Up $106,929 (+84%) from 2020

Net Assets

Up

$233,477

Up $121,331 (+108%) from 2020

Liabilities

Down

$0

Down $14,402 (-100%) from 2020

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin73rd percentile

Revenue

Up

$378,363

Up $93,497 (+33%) from 2020

Expenses

Down

$271,434

Down $2,232 (-0.8%) from 2020

Net Income

Up

$106,929

Up $95,729 (+855%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

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

$600K$400K$200K$0Assets 2017: $105,809Liabilities 2017: $02017Assets 2018: $105,782Liabilities 2018: $02018Assets 2019: $115,348Liabilities 2019: $02019Assets 2020: $126,548Liabilities 2020: $14,402Net Assets 2020: $112,1462020Assets 2021: $233,477Liabilities 2021: $0Net Assets 2021: $233,4772021Assets 2022: $347,723Liabilities 2022: $0Net Assets 2022: $347,7232022Assets 2023: $355,215Liabilities 2023: $0Net Assets 2023: $355,2152023Assets 2024: $409,924Liabilities 2024: $0Net Assets 2024: $409,9242024Assets 2025: $470,992Liabilities 2025: $23,822Net Assets 2025: $447,1702025

Highlighted filing

2021

Assets$233,477
Liabilities$0
Net Assets$233,477
Open 2021 Filing

Operations Trend

Revenue Growth69th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2017: $115,482Expenses 2017: $87,518Net Income 2017: $27,9642017Revenue 2018: $133,379Expenses 2018: $133,406Net Income 2018: -$272018Revenue 2019: $188,578Expenses 2019: $179,012Net Income 2019: $9,5662019Revenue 2020: $284,866Expenses 2020: $273,666Net Income 2020: $11,2002020Revenue 2021: $378,363Expenses 2021: $271,434Net Income 2021: $106,9292021Revenue 2022: $518,881Expenses 2022: $404,635Net Income 2022: $114,2462022Revenue 2023: $693,322Expenses 2023: $685,830Net Income 2023: $7,4922023Revenue 2024: $854,681Expenses 2024: $799,848Net Income 2024: $54,8332024Revenue 2025: $1,064,249Expenses 2025: $1,044,104Net Income 2025: $20,1452025

Highlighted filing

2021

Revenue$378,363
Expenses$271,434
Net Income$106,929
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 24, 2022
Return Version
2020v4.0
Gross Receipts
$378,363
Mission and Program Overview

Mission

Math circles of chicago creates opportunities for all children across chicago to develop a passion for mathematics.

Math Circles of Chicago (MC2) provides free math enrichment program to about 800 children in grades 5-12. These programs meet weekly in after school programs, bi-weekly in Hubs serving multiple schools, and in summer camps.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$126,548$233,477▲ $106,929
Rtn Earn Endowment Incm Other Fnds$112,146$233,477▲ $121,331
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$126,548$233,477▲ $106,929
Liabilities
Unsecured Notes Loans Payable$14,402--
Other Liabilities$0--
Total Liabilities$14,402$0▼ $14,402
Net Assets / Fund Balance
Total Net Assets Fund Balance$112,146$233,477▲ $121,331
Total Liabilities and Net Assets / Fund Balance$126,548$233,477▲ $106,929
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Douglas O'RoarkExecutive DirectorFT$94,536$94,536

Board Members and Trustees

NameTitle
Paul KarafiolPresident
Amie WilkinsonDirector
Ann TurnerDirector
Archana RanaDirector
Benitta JonesDirector
David MargolinDirector
Gary SircusDirector
Jose BacaDirector
Kate KleinDirector
Lawrence TanzmannDirector
Troy BocelliDirector
Sendhil RevuluriSecretary
Gary JonesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$378,363
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$363,961
Change in Net Assets
$106,929
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$131,223
Other Expenses$96,905
Total Fundraising Expense$52,777
Professional Fundraising Fees$43,306
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$43,789$35,031$8,758$87,578
Fees for Services Other$77,248$2,259-$79,507
Fees for Services Professional Fundraising--$43,306$43,306
Other Salaries and Wages$33,784--$33,784
Payroll Taxes$6,294$2,854$713$9,861
Fees for Services Accounting-$6,000-$6,000
Office Expenses-$5,568-$5,568
Insurance-$3,409-$3,409
Advertising-$1,489-$1,489
Information Technology-$747-$747
Conferences and Meetings-$185-$185
Total Functional Expenses$161,115$57,542$52,777$271,434
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$43,306
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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

“We don't have a formal review process for our Board to review our 990; the return is made available to all Board members.”

Form 990, Part VI, Section C, Line 19

“To date we have not made our governing documents, conflict of interest policy, or tax forms available publicly, but would do so if the need arose. We are instituting a COI process at our next Board meeting.”

Filing and Contact Details

Filer

Filer Name
Math Circles of Chicago
EIN
45-2071512
Phone
7739683141
Address
1034 North Wells, Chicago, IL 60610

Signing Officer

Name
Douglas ORoark
Title
Executive Director
Phone
7739683141
Signed
2022-05-24

Organization Details

Principal Officer
Paul Karafiol
Formed
2010
Legal Domicile
Il
Voting Board Members
13
Independent Board Members
13
Employees
2
Volunteers
25
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“The $2,259 in manage expenses was for payroll processing fees. $58,902 paid for teachers leading sessions during the school year and over the summer. The remaining $18,346 funds in program paid for lesson planning, teacher workshops, and similar program activity.”

Form 990, Part XI, Line 8

“This adjustment addresses an error for the net assets reported at the end of the previous year. The issue is the manner in which our PPP loan of $14,402 was accounted for. This amount was NOT included in our cash balance at the end of the year. It should have been, so we are adding that amount to our balance sheet to reflect the correct balance as of 6/30/2021.”

Raw XML AppendixShowing 400 of 452 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/MissionDesc0Math Circles of Chicago creates opportunities for all children across Chicago to develop a passion for mathematics. MC2 achieves its mission by providing free, novel math enrichment programs to children of diverse identities in grades 5-12.
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IRS990/ProgSrvcAccomActy2Grp/Desc0In July 202 we held week long online summer camps for 9 groups of children, serving 163 students. 94% of participating students were highly satisfied with the camp.
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IRS990/ProgSrvcAccomActy3Grp/Desc0In December 2020 we held our annual Math Symposium. The Symposium was held online and 41 students participated, sharing their own independent math research. Participation dropped from 2019 (154) students due to the challenges students and their sponsoring teachers faced stemming from the Covid Epidemic.
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IRS990/PYRevenuesLessExpensesAmt011200
IRS990/PYSalariesCompEmpBnftPaidAmt099902
IRS990/PYTotalExpensesAmt0273666
IRS990/PYTotalProfFndrsngExpnsAmt057485
IRS990/PYTotalRevenueAmt0284866
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0106929
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0112146
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0233477
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt021115
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt039324
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt029348
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt025224
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt017834
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt0132845
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0378363
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0284866
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0188578
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0133379
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0115480
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01100666
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/InvestmentIncomePYPct00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.87930
IRS990ScheduleA/PublicSupportPY509Pct01
IRS990ScheduleA/PublicSupportTotal509Amt0967821
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt021115
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt039324
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt029348
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt025224
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt017834
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt0132845
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0378363
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0284866
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0188578
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0133379
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0115480
IRS990ScheduleA/Total509Grp/TotalAmt01100666
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0378363
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0284866
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0188578
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0133379
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0115480
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01100666
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
IRS990ScheduleG/AgrmtProfFundraisingActyInd01
IRS990ScheduleG/EmailSolicitationsInd0X
IRS990ScheduleG/FundraiserActivityInfoGrp/ActivityTxt0Eileen designed our annual campaigns and wrote grant proposals for MC2.
IRS990ScheduleG/FundraiserActivityInfoGrp/FundraiserControlOfFundsInd00
IRS990ScheduleG/FundraiserActivityInfoGrp/GrossReceiptsAmt0363961
IRS990ScheduleG/FundraiserActivityInfoGrp/NetToOrganizationAmt0320655
IRS990ScheduleG/FundraiserActivityInfoGrp/PersonNm0Eileen Mullin-Gasteier
IRS990ScheduleG/FundraiserActivityInfoGrp/RetainedByContractorAmt043306
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine1Txt0414 Fairview Avenue
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/CityNm0Glen Ellyn
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/StateAbbreviationCd0IL
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/ZIPCd060137
IRS990ScheduleG/InPersonSolicitationsInd0X
IRS990ScheduleG/LicensedStatesCd0IL
IRS990ScheduleG/MailSolicitationsInd0X
IRS990ScheduleG/SolicitationOfNonGovtGrantsInd0X
IRS990ScheduleG/TotalGrossReceiptsAmt0363961
IRS990ScheduleG/TotalNetToOrganizationAmt0320655
IRS990ScheduleG/TotalRetainedByContractorsAmt043306
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0We don't have a formal review process for our Board to review our 990; the return is made available to all Board members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1To date we have not made our governing documents, conflict of interest policy, or tax forms available publicly, but would do so if the need arose. We are instituting a COI process at our next Board meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The $2,259 in manage expenses was for payroll processing fees. $58,902 paid for teachers leading sessions during the school year and over the summer. The remaining $18,346 funds in program paid for lesson planning, teacher workshops, and similar program activity.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3This adjustment addresses an error for the net assets reported at the end of the previous year. The issue is the manner in which our PPP loan of $14,402 was accounted for. This amount was NOT included in our cash balance at the end of the year. It should have been, so we are adding that amount to our balance sheet to reflect the correct balance as of 6/30/2021.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XI, Line 8
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0126548
IRS990/TotalAssetsEOYAmt0233477
IRS990/TotalAssetsGrp/BOYAmt0126548
IRS990/TotalAssetsGrp/EOYAmt0233477
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0378363
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt052777
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt057542
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0161115
IRS990/TotalFunctionalExpensesGrp/TotalAmt0271434
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014402
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt014402
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0112146

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$233,477
Liabilities
$0
Net assets
$233,477
Revenue
$378,363
Expenses
$271,434
Net income
$106,929
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.47$0.02$0.45$1.06$1.04$0.02
2024Detailed filing. Detailed filing data is available for this year.$0.41$0.00$0.41$0.85$0.80$0.05
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.36$0.00$0.36$0.69$0.69$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.35$0.00$0.35$0.52$0.40$0.11
2021Detailed filing. Detailed filing data is available for this year.$0.23$0.00$0.23$0.38$0.27$0.11
2020Summary only. Only limited summary data is available for this year.$0.13$0.01$0.11$0.28$0.27$0.01
2019Summary only. Only limited summary data is available for this year.$0.12$0.00$0.19$0.18$0.01
2018Summary only. Only limited summary data is available for this year.$0.11$0.00$0.13$0.13$0.00
2017Summary only. Only limited summary data is available for this year.$0.11$0.00$0.12$0.09$0.03