Civic Intelligence

The Chicago Academy of Music Foundation

EIN 46-0475751 • 501(c)3 • Chicago, IL

Revoked990-N Coverage

Profile

Music education in chicago inner city

Revocation date: May 15, 2019

5656 S University AveChicago, IL 60637

www.chicagoacademyofmusic.org

Siviq Scores

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

Liabilities / Assets

99th percentile

30.04x

Higher debt load relative to assets than 99% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

100th percentile

225.90x

Higher debt load relative to revenue than 100% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

2nd percentile

-2689%

Higher net margin than 2% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Balance Sheet
Liabilities / Assets99th percentile

Assets

$4,994

No earlier filing loaded for comparison.

Liabilities

$150,000

No earlier filing loaded for comparison.

Net Assets

-$145,006

No earlier filing loaded for comparison.

Operations
Liabilities / Revenue100th percentileNet Margin2nd percentile

Revenue

$664

No earlier filing loaded for comparison.

Expenses

$18,520

No earlier filing loaded for comparison.

Net Income

-$17,856

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Asset GrowthScore unavailable

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

$200K$100K$0-$100K-$200KAssets 2015: $4,994Liabilities 2015: $150,000Net Assets 2015: -$145,0062015

Highlighted filing

2015

Assets$4,994
Liabilities$150,000
Net Assets-$145,006
Open 2015 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$20K$10K$0-$10K-$20KRevenue 2015: $664Expenses 2015: $18,520Net Income 2015: -$17,8562015

Highlighted filing

2015

Revenue$664
Expenses$18,520
Net Income-$17,856
Open 2015 Filing

Filings

Most recent year

2015 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,994
Liabilities
$150,000
Net assets
-$145,006
Revenue
$664
Expenses
$18,520
Net income
-$17,856
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$0.05$1.50$1.45$0.01$0.19$0.18
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Oct 25, 2016
Return Version
2015v2.1
Gross Receipts
$34,964
Mission and Program Overview

Mission

Music education in chicago inner city

Program Services

DescriptionGrantsExpenses
MUSIC MASTER CLASSES - PROVIDED INDIVIDUAL MUSIC LESSONS AND ORCHECHESTRAL TRAINING TO INNER CITY ARTISTS VIA AFFORDABLE LESSONS OR SCHOLARSHIPS-$11,020
MUSIC CONCERTS - ARRANGED FIFTEEN FREE INNER CITY CONCERTS WHERE AUDIENCE WAS ASKED FOR DONATIONS DESIGNED TO SHOWCASE LOCAL ARTISTS AND MASTER CLASS STUDENTS-$7,500
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
MICHAEL S CARTERChief Executive OfficerFT$0--
KAHIL ELZABARCreative Executive DirectorPT$0--
Filing and Contact Details

Filer

Filer Name
The Chicago Academy of Music Foundation
EIN
46-0475751
Address
5656 S UNIVERSITY AVE, CHICAGO, IL 60637

Signing Officer

Name
Michael S Carter
Title
Chief Executive
Phone
3125763313
Signed
2016-10-25
Discuss with paid preparer
No

Preparer

Firm
Accounting & Valuation Services Ltd
Address
533 S SPRING STREET, Roselle, IL 60172
Preparer
Stephen Challinor
Phone
6306819020
Supplemental Narrative

Additional Explanations

Description of other expenses Part I line 16

“Description amountconcert location rental 7,500”

Description of total liabilities Part II line 26

“Category beginning of year end of yearno interest loan from officer 130,000 150,000”

Activity not previously reported to the IRS Part V line 33

“Master classes - through affordable lessons and scholarships provide individual tuition and orchestral training. Arrange ensembles to provide opportunities for artists to display their talents and progress.music concerts - arrange free concerts (with donations requested from audience) to promote local artists”

Raw XML Appendix130 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.

Path#Value
IRS990EZ/ActivitiesNotPreviouslyRptInd0true
IRS990EZ/BooksInCareOfDetail/PersonNm0MICHAEL SCOTT CARTER
IRS990EZ/BooksInCareOfDetail/PhoneNum03125763313
IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt05656 S UNIVERSITY AVE
IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0CHICAGO
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0IL
IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd060637
IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt02850
IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt04994
IRS990EZ/ChgMadeToOrgnzngDocNotRptInd0false
IRS990EZ/CostOfGoodsSoldAmt034300
IRS990EZ/DonorAdvisedFndsInd0false
IRS990EZ/EngagedInExcessBenefitTransInd0false
IRS990EZ/ExcessOrDeficitForYearAmt0-17856
IRS990EZ/FeesAndOtherPymtToIndCntrctAmt011020
IRS990EZ/FiledScheduleAInd0true
IRS990EZ/ForeignFinancialAccountInd0false
IRS990EZ/ForeignOfficeInd0false
IRS990EZ/Form1120PolFiledInd0false
IRS990EZ/Form990TotalAssetsGrp/BOYAmt02850
IRS990EZ/Form990TotalAssetsGrp/EOYAmt04994
IRS990EZ/GrossProfitLossSlsOfInvntryAmt0-5646
IRS990EZ/GrossReceiptsAmt034964
IRS990EZ/GrossSalesOfInventoryAmt028654
IRS990EZ/InfoInScheduleOPartIIInd0X
IRS990EZ/InfoInScheduleOPartIInd0X
IRS990EZ/InfoInScheduleOPartVInd0X
IRS990EZ/LandAndBuildingsGrp/BOYAmt00
IRS990EZ/LandAndBuildingsGrp/EOYAmt00
IRS990EZ/LoansToFromOfficersAmt0100000
IRS990EZ/LobbyingActivitiesInd0false
IRS990EZ/MadeLoansToFromOfficersInd0true
IRS990EZ/MethodOfAccountingCashInd0X
IRS990EZ/NetAssetsOrFundBalancesBOYAmt0-127150
IRS990EZ/NetAssetsOrFundBalancesEOYAmt0-145006
IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt0-127150
IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt0-145006
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt090.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt130.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0MICHAEL S CARTER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm1KAHIL ELZABAR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0CHIEF EXECUTIVE OFFICER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1CREATIVE EXECUTIVE DIRECTOR
IRS990EZ/OperateHospitalInd0false
IRS990EZ/Organization501c3Ind0X
IRS990EZ/OrganizationDissolvedEtcInd0false
IRS990EZ/OrganizationFiled990TInd0true
IRS990EZ/OrganizationHadUBIInd0true
IRS990EZ/OtherAssetsTotalDetail/BOYAmt00
IRS990EZ/OtherAssetsTotalDetail/EOYAmt00
IRS990EZ/OtherExpensesTotalAmt07500
IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt0NONE
IRS990EZ/PartVIOfCompOfHghstPdEmplTxt0NONE
IRS990EZ/PoliticalCampaignActyInd0false
IRS990EZ/PrimaryExemptPurposeTxt0MUSIC EDUCATION IN CHICAGO INNER CITY
IRS990EZ/ProgramServiceRevenueAmt06310
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0MUSIC MASTER CLASSES - PROVIDED INDIVIDUAL MUSIC LESSONS AND ORCHECHESTRAL TRAINING TO INNER CITY ARTISTS VIA AFFORDABLE LESSONS OR SCHOLARSHIPS
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1MUSIC CONCERTS - ARRANGED FIFTEEN FREE INNER CITY CONCERTS WHERE AUDIENCE WAS ASKED FOR DONATIONS DESIGNED TO SHOWCASE LOCAL ARTISTS AND MASTER CLASS STUDENTS
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt011020
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt17500
IRS990EZ/ProhibitedTaxShelterTransInd0false
IRS990EZ/RelatedOrganizationCtrlEntInd0false
IRS990EZ/SchoolOperatingInd0false
IRS990EZ/SubjectToProxyTaxInd0false
IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt0130000
IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt0150000
IRS990EZ/TanningServicesProvidedInd0false
IRS990EZ/TotalExpensesAmt018520
IRS990EZ/TotalProgramServiceExpensesAmt018520
IRS990EZ/TotalRevenueAmt0664
IRS990EZ/TransactionWithControlEntInd0false
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt06310
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt06310
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt06310
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt06310
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt06310
IRS990ScheduleA/TotalSupportAmt06310
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0100000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0SUPPORT OPERATIONS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0100000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0MICHAEL SCOTT CARTER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0CEO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt0100000
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION AMOUNTCONCERT LOCATION RENTAL 7,500
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CATEGORY BEGINNING OF YEAR END OF YEARNO INTEREST LOAN FROM OFFICER 130,000 150,000
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MASTER CLASSES - THROUGH AFFORDABLE LESSONS AND SCHOLARSHIPS PROVIDE INDIVIDUAL TUITION AND ORCHESTRAL TRAINING. ARRANGE ENSEMBLES TO PROVIDE OPPORTUNITIES FOR ARTISTS TO DISPLAY THEIR TALENTS AND PROGRESS.MUSIC CONCERTS - ARRANGE FREE CONCERTS (WITH DONATIONS REQUESTED FROM AUDIENCE) TO PROMOTE LOCAL ARTISTS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Description of other expenses Part I line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Description of total liabilities Part II line 26
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Activity not previously reported to the IRS Part V line 33
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL S CARTER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHIEF EXECUTIVE
ReturnHeader/BusinessOfficerGrp/PhoneNum03125763313
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-10-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE CHICAGO ACADEMY OF MUSIC FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0CHIC
ReturnHeader/Filer/EIN0460475751
ReturnHeader/Filer/USAddress/AddressLine1Txt05656 S UNIVERSITY AVE
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060637
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0364189540
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ACCOUNTING & VALUATION SERVICES LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0533 S SPRING STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Roselle
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060172
ReturnHeader/PreparerPersonGrp/PhoneNum06306819020
ReturnHeader/PreparerPersonGrp/PreparationDt02016-10-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEPHEN CHALLINOR
ReturnHeader/ReturnTs02016-10-25T23:16:24-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.