Civic Intelligence

Illinois Science and Technology Institute

990 • Fiscal year 2022 • EIN 45-4092094

Jul 01, 2021 to Jun 30, 2022 • Filed on Jan 02, 2024

Organization ProfileWWW.ISTCOALITION.ORG

Refreshing map…

20 N Wacker Drive 1200Chicago, IL 60606

(708) 267-5601

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$942,810

Down $39,855 (-4.1%) from 2021

Net Assets

Up

$560,451

Up $228,359 (+69%) from 2021

Liabilities

Down

$382,359

Down $268,214 (-41%) from 2021

Revenue And Expenses

Revenue

Up

$2,643,104

Up $2,110,076 (+396%) from 2021

Expenses

Up

$2,385,619

Up $1,838,895 (+336%) from 2021

Net Income

Up

$257,485

Up $271,181 (+1980%) from 2021

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2012: $225,012Liabilities 2012: $107,500Net Assets 2012: $117,5122012Assets 2013: $834,966Liabilities 2013: $611,416Net Assets 2013: $223,5502013Assets 2014: $869,968Liabilities 2014: $627,812Net Assets 2014: $242,1562014Assets 2015: $699,344Liabilities 2015: $445,958Net Assets 2015: $253,3862015Assets 2016: $640,914Liabilities 2016: $394,823Net Assets 2016: $246,0912016Assets 2017: $467,107Liabilities 2017: $348,677Net Assets 2017: $118,4302017Assets 2018: $898,866Liabilities 2018: $793,245Net Assets 2018: $105,6212018Assets 2019: $708,323Liabilities 2019: $503,755Net Assets 2019: $204,5682019Assets 2020: $816,006Liabilities 2020: $296,508Net Assets 2020: $519,4982020Assets 2021: $982,665Liabilities 2021: $650,573Net Assets 2021: $332,0922021Assets 2022: $953,933Liabilities 2022: $391,182Net Assets 2022: $562,7512022Assets 2022: $942,810Liabilities 2022: $382,359Net Assets 2022: $560,4512022Assets 2023: $717,214Liabilities 2023: $364,949Net Assets 2023: $352,2652023Assets 2024: $392,935Liabilities 2024: $32,330Net Assets 2024: $360,6052024

Highlighted filing

2022

Assets$942,810
Liabilities$382,359
Net Assets$560,451
Open 2022 Filing

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2012: $117,512Expenses 2012: $0Net Income 2012: $117,5122012Revenue 2013: $502,218Expenses 2013: $396,180Net Income 2013: $106,0382013Revenue 2014: $1,107,410Expenses 2014: $1,088,804Net Income 2014: $18,6062014Revenue 2015: $541,910Expenses 2015: $530,680Net Income 2015: $11,2302015Revenue 2016: $664,153Expenses 2016: $671,448Net Income 2016: -$7,2952016Revenue 2017: $711,825Expenses 2017: $839,486Net Income 2017: -$127,6612017Revenue 2018: $743,943Expenses 2018: $756,752Net Income 2018: -$12,8092018Revenue 2019: $961,235Expenses 2019: $863,194Net Income 2019: $98,0412019Revenue 2020: $1,063,559Expenses 2020: $748,629Net Income 2020: $314,9302020Revenue 2021: $533,028Expenses 2021: $546,724Net Income 2021: -$13,6962021Revenue 2022: $2,734,579Expenses 2022: $2,474,794Net Income 2022: $259,7852022Revenue 2022: $2,643,104Expenses 2022: $2,385,619Net Income 2022: $257,4852022Revenue 2023: $588,527Expenses 2023: $796,713Net Income 2023: -$208,1862023Revenue 2024: $747,358Expenses 2024: $739,018Net Income 2024: $8,3402024

Highlighted filing

2022

Revenue$2,643,104
Expenses$2,385,619
Net Income$257,485
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Jan 2, 2024
Return Version
2021v4.1
Gross Receipts
$2,643,104
Mission and Program Overview

Mission

The institute will advance science and technology through the education of illnois residents, the provision of grants to institutions and organizations for scientific research in the areas of science and technology, and by providing educational resources for entrepreneurism, technology transfer, and other education initiatives that support economic development through science and technology in the state of illinois.

The institute will advance science and technology through the education of illinois residents, the provision of grants to institutions and organizations for scientific research in the areas of science and technology, and by providing educational resources for entrepreneurism, technology transfer, and other education initiatives that support economic development through science and technology in the state of illinois.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$616,234$606,036▼ $10,198
Savings and Temporary Cash Investments$283,631$283,724▲ $93
Accounts Receivable$10,800$50,000▲ $39,200
Prepaid Expenses and Deferred Charges-$3,050-
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$910,665$942,810▲ $32,145
Other Assets Total-$0-
Liabilities
Deferred Revenue$387,159$296,640▼ $90,519
Unsecured Notes Loans Payable$86,627--
Accounts Payable and Accrued Expenses$133,913$85,719▼ $48,194
Total Liabilities$607,699$382,359▼ $225,340
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$302,966$560,451▲ $257,485
Total Net Assets Fund Balance$302,966$560,451▲ $257,485
Total Liabilities and Net Assets / Fund Balance$910,665$942,810▲ $32,145

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$1,600-
Compensation and Service Providers

Board Members and Trustees

NameTitle
Laura ApenzellerChair
James GillespieVice Chair
Bob GreenleeDirector
Jerry BlazeyDirector
Jess GoodeDirector
Jim BrayDirector
Jose LeboreiroDirector
Kumar NatesaiyerDirector
Larry KuhnDirector
Robert PatinoDirector
TJ AugustineDirector
Temitope SadikuDirector
Bill PayneSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$2,417,762
Program Service Revenue
$225,249
Investment Income
$93
Other Revenue
$0
All Other Contributions
$2,331,135
Change in Net Assets
$257,485

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,643,104
Total Revenue per Audited Statements
$2,643,104
Total Revenue per Form 990
$2,643,104
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,719,525
Salaries, Compensation, and Employee Benefits$418,180
Other Expenses$247,914
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,719,525--$1,719,525
Other Salaries and Wages$270,098$83,585-$353,683
Fees for Services Other$93,542$24,965-$118,507
Other Employee Benefits$34,290$3,151-$37,441
Occupancy-$32,545-$32,545
Payroll Taxes$20,662$6,394-$27,056
Information Technology$26,260$665-$26,925
Advertising-$11,120-$11,120
Travel$4,571--$4,571
Office Expenses-$3,193-$3,193
Insurance-$2,689-$2,689
Other Expenses$5,270$1,544-$1,544
Total Functional Expenses$2,215,768$169,851$0$2,385,619

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,385,619
Total Expenses per Audited Statements$2,385,619
Total Expenses per Form 990$2,385,619
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Tusk Charitable FoundationNew York, NY-Grant Support$1,124,748
Tusk PhilanthropiesSeattle, WA-Grant Support$594,777
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

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
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The tax return is reviewed at the quarterly meeting closest to the filing due date.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Documents are made available upon request”

Filing and Contact Details

Filer

Filer Name
Illinois Science and Technology
EIN
45-4092094
Phone
7082675601
Address
20 N Wacker Drive 1200, CHICAGO, IL 60606

Signing Officer

Name
Laura Apenzeller
Title
Chair
Signed
2024-01-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laura Apenzeller
Formed
2011
Legal Domicile
Il
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Firm
Il Nfp Audit and Tax Llp
Address
200 S WACKER DR SUITE 3100, CHICAGO, IL 60606
Preparer
Alfredo Rodriguez CPA
Phone
3129985500
Supplemental Narrative

Additional Explanations

Amended Explanation

“The organization amended its tax return after finalizing its 2022 audit.”

Financial Statement Notes

Part X : FIN48 Footnote

“Fin 48 - the organization is exempt from federal and state income taxes under section 501 (c) (3) of the internal revenue code; therefore, the financial statements do not include a provision for income taxes. The organization reviews income tax positions taken or expected to be taken in income tax returns to determine if there are any income tax uncertainties. This includes positions that the entity is exempt from income taxes or not subject to income taxes on unrelated business income. The organization recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by taking authorities, based on the technical merits of the positions. The organization files information returns as a tax-exempt organization. Should that status be challenged in the future, all years since inception could be subject to review by the irs.”

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IRS990/MissionDesc0THE INSTITUTE WILL ADVANCE SCIENCE AND TECHNOLOGY THROUGH THE EDUCATION OF ILLINOIS RESIDENTS, THE PROVISION OF GRANTS TO INSTITUTIONS AND ORGANIZATIONS FOR SCIENTIFIC RESEARCH IN THE AREAS OF SCIENCE AND TECHNOLOGY, AND BY PROVIDING EDUCATIONAL RESOURCES FOR ENTREPRENEURISM, TECHNOLOGY TRANSFER, AND OTHER EDUCATION INITIATIVES THAT SUPPORT ECONOMIC DEVELOPMENT THROUGH SCIENCE AND TECHNOLOGY IN THE STATE OF ILLINOIS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN 48 - THE ORGANIZATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501 (C) (3) OF THE INTERNAL REVENUE CODE; THEREFORE, THE FINANCIAL STATEMENTS DO NOT INCLUDE A PROVISION FOR INCOME TAXES. THE ORGANIZATION REVIEWS INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN INCOME TAX RETURNS TO DETERMINE IF THERE ARE ANY INCOME TAX UNCERTAINTIES. THIS INCLUDES POSITIONS THAT THE ENTITY IS EXEMPT FROM INCOME TAXES OR NOT SUBJECT TO INCOME TAXES ON UNRELATED BUSINESS INCOME. THE ORGANIZATION RECOGNIZES TAX BENEFITS FROM UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAKING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITIONS. THE ORGANIZATION FILES INFORMATION RETURNS AS A TAX-EXEMPT ORGANIZATION. SHOULD THAT STATUS BE CHALLENGED IN THE FUTURE, ALL YEARS SINCE INCEPTION COULD BE SUBJECT TO REVIEW BY THE IRS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GRANT SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1GRANT SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Tusk Charitable Foundation
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Tusk Philanthropies
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0251 Park Ave South 8th Fl
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt12900 NE BLAKELEY SUITE B
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$942,810
Liabilities
$382,359
Net assets
$560,451
Revenue
$2,643,104
Expenses
$2,385,619
Net income
$257,485
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.39$0.03$0.36$0.75$0.74$0.01
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.72$0.36$0.35$0.59$0.80$0.21
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.95$0.39$0.56$2.73$2.47$0.26
2022Detailed filing. Detailed filing data is available for this year.$0.94$0.38$0.56$2.64$2.39$0.26
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.98$0.65$0.33$0.53$0.55$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.82$0.30$0.52$1.06$0.75$0.31
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.71$0.50$0.20$0.96$0.86$0.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.90$0.79$0.11$0.74$0.76$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.47$0.35$0.12$0.71$0.84$0.13
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.64$0.39$0.25$0.66$0.67$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.70$0.45$0.25$0.54$0.53$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.87$0.63$0.24$1.11$1.09$0.02
2013Summary only. Only limited summary data is available for this year.$0.83$0.61$0.22$0.50$0.40$0.11
2012Summary only. Only limited summary data is available for this year.$0.23$0.11$0.12$0.12$0.00$0.12