Civic Intelligence

Quiroga Foundation

990 • Fiscal year 2020 • EIN 46-3914338

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 20, 2020

Organization Profilewww.quirogacollege.org
2114 West 22nd PlaceChicago, IL 60608

(773) 523-2440

Siviq Scores

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

Liabilities / Assets

99th percentile

6.05x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

14.50x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

5th percentile

-186%

Higher net margin than 5% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

50th percentile

3.8%

Faster asset growth than 50% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

81st percentile

24%

Faster revenue growth than 81% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets99th percentile

Assets

Up

$385,086

Up $13,944 (+3.8%) from 2019

Net Assets

Down

-$1,943,218

Down $348,404 (-22%) from 2019

Liabilities

Up

$2,328,304

Up $362,348 (+18%) from 2019

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin5th percentile

Revenue

Up

$160,551

Up $30,873 (+24%) from 2019

Expenses

Up

$459,538

Up $14,937 (+3.4%) from 2019

Net Income

Up

-$298,987

Up $15,936 (+5.1%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

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

$4.0M$2.0M$0-$2.0M-$4.0MAssets 2019: $371,142Liabilities 2019: $1,965,956Net Assets 2019: -$1,594,8142019Assets 2020: $385,086Liabilities 2020: $2,328,304Net Assets 2020: -$1,943,2182020Assets 2021: $414,917Liabilities 2021: $2,519,961Net Assets 2021: -$2,105,0442021Assets 2022: $387,849Liabilities 2022: $23,312Net Assets 2022: $364,5372022Assets 2023: $326,079Liabilities 2023: $40,606Net Assets 2023: $285,4732023Assets 2024: $336,876Liabilities 2024: $83,315Net Assets 2024: $253,5612024

Highlighted filing

2020

Assets$385,086
Liabilities$2,328,304
Net Assets-$1,943,218
Open 2020 Filing

Operations Trend

Revenue Growth81st percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $129,678Expenses 2019: $444,601Net Income 2019: -$314,9232019Revenue 2020: $160,551Expenses 2020: $459,538Net Income 2020: -$298,9872020Revenue 2021: $362,930Expenses 2021: $503,611Net Income 2021: -$140,6812021Revenue 2022: $3,247,271Expenses 2022: $577,531Net Income 2022: $2,669,7402022Revenue 2023: $566,884Expenses 2023: $620,459Net Income 2023: -$53,5752023Revenue 2024: $574,044Expenses 2024: $578,408Net Income 2024: -$4,3642024

Highlighted filing

2020

Revenue$160,551
Expenses$459,538
Net Income-$298,987
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 20, 2020
Return Version
2019v5.1
Gross Receipts
$160,551
Mission and Program Overview

Mission

Inspired by the life and works of catholic bishop and lawyer, don vasco de quiroga, quiroga is dedicated to the integrated educational formation of persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$259,550$227,274▼ $32,276
Accounts Receivable$77,946$136,297▲ $58,351
Cash and Non-Interest-Bearing Accounts$24,259$7,506▼ $16,753
Prepaid Expenses and Deferred Charges$909$6,633▲ $5,724
Receivables From Officers Etc$3,611$0▼ $3,611
Total Assets$371,142$385,086▲ $13,944
Other Assets Total$4,867$7,376▲ $2,509
Liabilities
Other Liabilities$1,933,409$2,258,218▲ $324,809
Unsecured Notes Loans Payable-$38,163-
Accounts Payable and Accrued Expenses$32,547$31,923▼ $624
Total Liabilities$1,965,956$2,328,304▲ $362,348
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,594,814$-1,943,218▼ $348,404
Total Net Assets Fund Balance$-1,594,814$-1,943,218▼ $348,404
Total Liabilities and Net Assets / Fund Balance$371,142$385,086▲ $13,944

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$70,416$917-
Equipment$24,591$15,707-
Leasehold Improvements$132,267$83,847-
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Gerardo MosquedaPresident
Francisco SalazarVice President
Cherie MeachamBoard Member
Maria PradoBoard Member
Michelle ChavezBoard Member
Raul MartinezTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$160,278
Investment Income
$0
Other Revenue
$273
Change in Net Assets
$-298,987
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$285,407
Salaries, Compensation, and Employee Benefits$174,131
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$62,628$99,856$0$162,484
Occupancy$47,365$38,194$0$85,559
Fees for Services Other$61,579$5,501$0$67,080
Advertising$0$39,012$0$39,012
Fees for Services Accounting$0$37,100$0$37,100
Office Expenses$7,157$17,075$0$24,232
Other Expenses$18,503$0$0$18,503
Payroll Taxes$5,189$5,548$0$10,737
Information Technology$2,362$3,600$0$5,962
Travel$0$4,601$0$4,601
Other Employee Benefits$351$559$0$910
Fees for Services Legal$0$703$0$703
Total Functional Expenses$207,120$252,418$0$459,538
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 Officers, Directors, Trustees, and Key Employees$3,611$0▼ $3,611
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Long-tern notes payable due to Universidad Vasco de Quiroga$2,257,343
Prepaid Income$580
Due to Others$295
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Quiroga Foundation
EIN
46-3914338
Phone
7735232440
Address
2114 WEST 22ND PLACE, CHICAGO, IL 60608

Signing Officer

Name
Gloria Quiroz
Title
Executive Director
Phone
7735232440
Signed
2020-10-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gloria Quiroz
Formed
2013
Legal Domicile
Il
Voting Board Members
6
Independent Board Members
4
Employees
4
Volunteers
0

Preparer

Firm
Prado & Renteria CPAs Prof Corp
Address
1837 S Michigan Ave 2nd Fl, Chicago, IL 60616
Preparer
Wenqin Zhang
Phone
3125671330
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Quiroga provides the 990 form in draft form for directors to review and approve at their board meeting prior to finalizing the filing.”

Pt VI, Line 15A

“The board determines the compensation for the ceo by reviewing available publications, research, qualifications, experience and industry information.”

Pt VI, Line 15B

“The board determines the compensation for key employees by reviewing available publications, research, publications, experience and industry information.”

Pt VI, Line 12C

“Quiroga requires key employees and board members to complete a conflict of interest disclosure annually.”

Pt XI

“There were some adjusting journals proposed by the auditor after the fy18 form 990 was filed. No major changes were identified from the fy19 audit procedures and no admended form 990 was filed. The changes in part xi were because of the auditors' adjustments being posted.”

Form 990, Part IX, Line 11G

“Professional Service - Professors 54756. 54756. 0. 0.”

Form 990, Part IX, Line 11G

“Cleaning Expenses 12324. 6823. 5501. 0.”

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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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IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt040298
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0132267
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt083847
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0216114
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt070416
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0917
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt071333
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02257343
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1295
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2580
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Long-tern notes payable due to Universidad Vasco de Quiroga
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Due to Others
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Prepaid Income
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0227274
IRS990ScheduleD/TotalLiabilityAmt02258218
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0QUIROGA PROVIDES THE 990 FORM IN DRAFT FORM FOR DIRECTORS TO REVIEW AND APPROVE AT THEIR BOARD MEETING PRIOR TO FINALIZING THE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD DETERMINES THE COMPENSATION FOR THE CEO BY REVIEWING AVAILABLE PUBLICATIONS, RESEARCH, QUALIFICATIONS, EXPERIENCE AND INDUSTRY INFORMATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD DETERMINES THE COMPENSATION FOR KEY EMPLOYEES BY REVIEWING AVAILABLE PUBLICATIONS, RESEARCH, PUBLICATIONS, EXPERIENCE AND INDUSTRY INFORMATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3QUIROGA REQUIRES KEY EMPLOYEES AND BOARD MEMBERS TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THERE WERE SOME ADJUSTING JOURNALS PROPOSED BY THE AUDITOR AFTER THE FY18 FORM 990 WAS FILED. NO MAJOR CHANGES WERE IDENTIFIED FROM THE FY19 AUDIT PROCEDURES AND NO ADMENDED FORM 990 WAS FILED. THE CHANGES IN PART XI WERE BECAUSE OF THE AUDITORS' ADJUSTMENTS BEING POSTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Professional Service - Professors 54756. 54756. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Cleaning Expenses 12324. 6823. 5501. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 11g
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IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0371142
IRS990/TotalAssetsEOYAmt0385086
IRS990/TotalAssetsGrp/BOYAmt0371142
IRS990/TotalAssetsGrp/EOYAmt0385086
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0252418
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0207120
IRS990/TotalFunctionalExpensesGrp/TotalAmt0459538
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01965956
IRS990/TotalLiabilitiesEOYAmt02328304
IRS990/TotalLiabilitiesGrp/BOYAmt01965956
IRS990/TotalLiabilitiesGrp/EOYAmt02328304
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1594814
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1943218
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0207120
IRS990/TotalProgramServiceRevenueAmt0160278
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0160551
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0160551
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0371142
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0385086
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt04601
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt04601
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt038163
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02114 WEST 22ND PLACE
IRS990/USAddress/CityNm0CHICAGO
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060608
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0www.quirogacollege.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GLORIA QUIROZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07735232440
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0QUIROGA FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0QUIR
ReturnHeader/Filer/EIN0463914338
ReturnHeader/Filer/PhoneNum07735232440
ReturnHeader/Filer/USAddress/AddressLine1Txt02114 WEST 22ND PLACE
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060608
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Prado & Renteria CPAs Prof Corp

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$385,086
Liabilities
$2,328,304
Net assets
-$1,943,218
Revenue
$160,551
Expenses
$459,538
Net income
-$298,987
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.34$0.08$0.25$0.57$0.58$0.00
2023Summary only. Only limited summary data is available for this year.$0.33$0.04$0.29$0.57$0.62$0.05
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.39$0.02$0.36$3.25$0.58$2.67
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.41$2.52$2.11$0.36$0.50$0.14
2020Detailed filing. Detailed filing data is available for this year.$0.39$2.33$1.94$0.16$0.46$0.30
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.37$1.97$1.59$0.13$0.44$0.31