Civic Intelligence

Quiroga Foundation

990 • Fiscal year 2021 • EIN 46-3914338

Jul 01, 2020 to Jun 30, 2021 • Filed on Oct 04, 2021

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

6.07x

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

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

Liabilities / Revenue

99th percentile

6.94x

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

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

Net Margin

13th percentile

-39%

Higher net margin than 13% of similar nonprofits.

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

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

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

Asset Growth

53rd percentile

7.7%

Faster asset growth than 53% of similar nonprofits.

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

Revenue Growth

88th percentile

126%

Faster revenue growth than 88% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets99th percentile

Assets

Up

$414,917

Up $29,831 (+7.7%) from 2020

Net Assets

Down

-$2,105,044

Down $161,826 (-8.3%) from 2020

Liabilities

Up

$2,519,961

Up $191,657 (+8.2%) from 2020

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin13th percentile

Revenue

Up

$362,930

Up $202,379 (+126%) from 2020

Expenses

Up

$503,611

Up $44,073 (+9.6%) from 2020

Net Income

Up

-$140,681

Up $158,306 (+53%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth53rd 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

2021

Assets$414,917
Liabilities$2,519,961
Net Assets-$2,105,044
Open 2021 Filing

Operations Trend

Revenue Growth88th 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

2021

Revenue$362,930
Expenses$503,611
Net Income-$140,681
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Oct 4, 2021
Return Version
2020v4.1
Gross Receipts
$362,930
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$227,274$206,362▼ $20,912
Accounts Receivable$136,297$160,153▲ $23,856
Cash and Non-Interest-Bearing Accounts$7,506$41,094▲ $33,588
Prepaid Expenses and Deferred Charges$6,633$0▼ $6,633
Total Assets$385,086$414,917▲ $29,831
Other Assets Total$7,376$7,308▼ $68
Liabilities
Other Liabilities$2,258,218$2,453,180▲ $194,962
Accounts Payable and Accrued Expenses$31,923$63,935▲ $32,012
Unsecured Notes Loans Payable$38,163$0▼ $38,163
Deferred Revenue-$2,846-
Total Liabilities$2,328,304$2,519,961▲ $191,657
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,943,218$-2,105,044▼ $161,826
Total Net Assets Fund Balance$-1,943,218$-2,105,044▼ $161,826
Total Liabilities and Net Assets / Fund Balance$385,086$414,917▲ $29,831

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$149,217$83,848$233,065
Equipment$42,240$52,317$94,557
Other Land Buildings$14,905$27,302$42,207
Land$0--
Compensation and Service Providers
Top Officer Pay77th 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
$246,121
Program Service Revenue
$115,239
Investment Income
$0
Other Revenue
$1,570
All Other Contributions
$173,108
Change in Net Assets
$-140,681
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$312,252
Salaries, Compensation, and Employee Benefits$191,359
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$62,774$113,384$0$176,158
Fees for Services Other$75,423$8,900$0$84,323
Occupancy$45,088$32,634$0$77,722
Fees for Services Accounting$0$40,226$0$40,226
Depreciation Depletion$30,868$2,370$0$33,238
Advertising$33$31,732$0$31,765
Office Expenses$2,412$13,755$0$16,167
Payroll Taxes$5,203$9,998$0$15,201
Fees for Services Legal$0$7,515$0$7,515
Insurance$3,381$2,486$0$5,867
Information Technology$0$4,693$0$4,693
Other Expenses$271$1,687$0$1,958
Travel$103$934$0$1,037
Total Functional Expenses$226,306$277,305$0$503,611
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Long-tern notes payable due to Universidad Vasco de Quiroga$2,453,180
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
2021-10-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gloria Quiroz
Formed
2013
Legal Domicile
Il
Voting Board Members
6
Independent Board Members
6
Employees
5
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 conflic of interest disclosure annually.”

Pt XI

“A change of (21,145) in net assets at begiining of year is due to audit adjustments after FY20 form 990 was filed.”

Form 990, Part IX, Line 11G

“Cleaning Services 19059. 10984. 8075. 0.”

Form 990, Part IX, Line 11G

“Professor's Compensation 65264. 64439. 825. 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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The discrimination policy is on the webpage.
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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 CONFLIC OF INTEREST DISCLOSURE ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A change of (21,145) in net assets at begiining of year is due to audit adjustments after FY20 form 990 was filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Cleaning Services 19059. 10984. 8075. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Professor's Compensation 65264. 64439. 825. 0.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt XI
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 11g
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$414,917
Liabilities
$2,519,961
Net assets
-$2,105,044
Revenue
$362,930
Expenses
$503,611
Net income
-$140,681
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
2021Detailed filing. Detailed filing data is available for this year.$0.41$2.52$2.11$0.36$0.50$0.14
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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