Civic Intelligence

Lyte Collective

990 • Fiscal year 2022 • EIN 47-1784239

Jan 01, 2022 to Dec 31, 2022 • Filed on Aug 03, 2023

Organization ProfileWWW.LYTECOLLECTIVE.ORG
2333 North Kildare AvenueChicago, IL 60639

(773) 875-6800

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.15x

Higher debt load relative to assets than 63% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

76th percentile

0.38x

Higher debt load relative to revenue than 76% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

80th percentile

31%

Higher net margin than 80% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

77th percentile

20%

Faster asset growth than 77% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

76th percentile

36%

Faster revenue growth than 76% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$2,734,544

Up $455,460 (+20%) from 2021

Net Assets

Up

$2,337,236

Up $320,674 (+16%) from 2021

Liabilities

Up

$397,308

Up $134,786 (+51%) from 2021

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin80th percentile

Revenue

Up

$1,042,167

Up $275,122 (+36%) from 2021

Expenses

Up

$721,493

Up $41,962 (+6.2%) from 2021

Net Income

Up

$320,674

Up $233,160 (+266%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth77th percentile

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

$3.0M$2.0M$1.0M$0Assets 2014: $1Liabilities 2014: $02014Assets 2015: $21,959Liabilities 2015: $02015Assets 2016: $181,167Liabilities 2016: $02016Assets 2017: $840,674Liabilities 2017: $699Net Assets 2017: $839,9752017Assets 2018: $1,130,091Liabilities 2018: $9,784Net Assets 2018: $1,120,3072018Assets 2019: $1,735,749Liabilities 2019: $108,433Net Assets 2019: $1,627,3162019Assets 2020: $2,060,332Liabilities 2020: $131,284Net Assets 2020: $1,929,0482020Assets 2021: $2,279,084Liabilities 2021: $262,522Net Assets 2021: $2,016,5622021Assets 2022: $2,734,544Liabilities 2022: $397,308Net Assets 2022: $2,337,2362022Assets 2023: $2,708,978Liabilities 2023: $409,743Net Assets 2023: $2,299,2352023Assets 2024: $2,329,719Liabilities 2024: $408,150Net Assets 2024: $1,921,5692024

Highlighted filing

2022

Assets$2,734,544
Liabilities$397,308
Net Assets$2,337,236
Open 2022 Filing

Operations Trend

Revenue Growth76th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2014: $0Expenses 2014: $0Net Income 2014: $02014Revenue 2015: $26,842Expenses 2015: $4,883Net Income 2015: $21,9592015Revenue 2016: $170,546Expenses 2016: $11,337Net Income 2016: $159,2092016Revenue 2017: $682,556Expenses 2017: $33,748Net Income 2017: $648,8082017Revenue 2018: $436,315Expenses 2018: $155,983Net Income 2018: $280,3322018Revenue 2019: $697,979Expenses 2019: $190,970Net Income 2019: $507,0092019Revenue 2020: $759,416Expenses 2020: $457,684Net Income 2020: $301,7322020Revenue 2021: $767,045Expenses 2021: $679,531Net Income 2021: $87,5142021Revenue 2022: $1,042,167Expenses 2022: $721,493Net Income 2022: $320,6742022Revenue 2023: $771,725Expenses 2023: $809,726Net Income 2023: -$38,0012023Revenue 2024: $573,350Expenses 2024: $951,016Net Income 2024: -$377,6662024

Highlighted filing

2022

Revenue$1,042,167
Expenses$721,493
Net Income$320,674
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 3, 2023
Return Version
2022v5.0
Gross Receipts
$1,042,167
Mission and Program Overview

Mission

The lyte collective provides chicago youth in situations of poverty and homelessness with safe space, critical resources and holistic support. The organization invests in the extraordinary gifts, and power of young people and work to ensure that all youth have the safety, opportunities and justice they deserve.

Lyte collective serves young adults impacted by poverty and homelessness. Our mission is to:support every young adult who contacts us, with whatever they need, for as long as they want us by their side.end harmful systems that cause young people to need our help in the first place.build a more just and equitable world together with all who aspire to do better by young people.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,881,104$2,042,508▲ $161,404
Cash and Non-Interest-Bearing Accounts$256,738$510,893▲ $254,155
Pledges and Grants Receivable$124,653$174,578▲ $49,925
Prepaid Expenses and Deferred Charges$6,051$6,565▲ $514
Total Assets$2,268,546$2,734,544▲ $465,998
Liabilities
Mortgage Notes Payable Secured by Investment Property$224,564$377,594▲ $153,030
Accounts Payable and Accrued Expenses$27,420$19,714▼ $7,706
Total Liabilities$251,984$397,308▲ $145,324
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,862,931$2,102,089▲ $239,158
Net Assets With Donor Restrictions$153,631$235,147▲ $81,516
Total Net Assets Fund Balance$2,016,562$2,337,236▲ $320,674
Total Liabilities and Net Assets / Fund Balance$2,268,546$2,734,544▲ $465,998

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,980,769$63,416$2,044,185
Other Land Buildings$31,300$11,613$42,913
Land$22,000-$22,000
Equipment$8,439$4,209$12,648
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Bonn WadeChairperson
Will BulkaVice Chairperson
Amanda DunnavantDirector
Derrick FisherDirector
Patricia PoseyDirector
Vladimir LadouceurDirector
Darrin ShillairSecretary and Acting Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$1,034,442
Program Service Revenue
$7,725
Investment Income
$0
Other Revenue
$0
All Other Contributions
$849,905
Change in Net Assets
$320,674

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$31,300Fair Market Value (FMV)
Other Non Cash Contri Table25$7,800Fair Market Value (FMV)
Other Non Cash Contri Table24$949Fair Market Value (FMV)
Total Noncash Contributions50$40,049-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,042,167
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$80,000
Total Revenue per Audited Statements
$1,122,167
Total Revenue per Form 990
$1,042,167
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$375,856
Other Expenses$345,637
Total Fundraising Expense$8,109
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$297,452-$4,134$301,586
Depreciation Depletion$67,792$2,635-$70,427
Other Employee Benefits$42,879-$596$43,475
All Other Expenses$36,893$1,827$1,894$40,614
Payroll Taxes$30,395-$400$30,795
Insurance$7,621$12,108-$19,729
Interest$18,449--$18,449
Fees for Services Other$1,389$7,400-$8,789
Other Expenses$8,748$5,903-$8,748
Fees for Services Accounting-$5,942-$5,942
Advertising--$1,085$1,085
Total Functional Expenses$639,493$73,891$8,109$721,493

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$801,493
Expenses per Audited Statements$721,493
Total Expenses per Form 990$721,493
Expenses Not Reported on Form 990$80,000
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Professional Fundraising Fees$0
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
Annual disclosure for covered persons
Yes
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“The lyte collective does not have any committees with authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“The executive director and board treasurer review the form 990 prior to filing with the internal revenue service.”

Form 990, Part VI, Section B, Line 12C

“In connection with any actual or possible conflict of interest, an interest person must disclose the existance of his or her financial interest and must be given the opportunity to disclose all material facts to the directors and members of committees with board-delegated powers considering the proposed transaction or arrangment.”

Form 990, Part VI, Section B, Line 15B

“The executive director secured data that that documented compensation levels for similarly qualified individuals in comparable positions at similar organizations within the geographic area. This information was presented to the board of directors with a recommendation for compensation level that was informed by this data for review and approval.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Lyte Collective
EIN
47-1784239
Phone
7738756800
Address
2333 NORTH KILDARE AVENUE, CHICAGO, IL 60639

Signing Officer

Name
Bonn Wade
Title
Chairperson
Phone
7738756800
Signed
2023-08-03

Organization Details

Principal Officer
Bonn Wade
Formed
2014
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
8
Volunteers
15

Preparer

Firm
Cheryl Rohlfs & Associates Ltd
Address
401 HUEHL ROAD SUITE 1E, NORTHBROOK, IL 60062
Preparer
Cheryl K Rohlfs CPA
Phone
8477539200
Raw XML AppendixShowing 400 of 427 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/ActivityOrMissionDesc0LYTE COLLECTIVE SERVES YOUNG ADULTS IMPACTED BY POVERTY AND HOMELESSNESS. OUR MISSION IS TO:SUPPORT EVERY YOUNG ADULT WHO CONTACTS US, WITH WHATEVER THEY NEED, FOR AS LONG AS THEY WANT US BY THEIR SIDE.END HARMFUL SYSTEMS THAT CAUSE YOUNG PEOPLE TO NEED OUR HELP IN THE FIRST PLACE.BUILD A MORE JUST AND EQUITABLE WORLD TOGETHER WITH ALL WHO ASPIRE TO DO BETTER BY YOUNG PEOPLE.
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IRS990/MissionDesc0THE LYTE COLLECTIVE PROVIDES CHICAGO YOUTH IN SITUATIONS OF POVERTY AND HOMELESSNESS WITH SAFE SPACE, CRITICAL RESOURCES AND HOLISTIC SUPPORT. THE ORGANIZATION INVESTS IN THE EXTRAORDINARY GIFTS, AND POWER OF YOUNG PEOPLE AND WORK TO ENSURE THAT ALL YOUTH HAVE THE SAFETY, OPPORTUNITIES AND JUSTICE THEY DESERVE.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE LYTE COLLECTIVE DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE DIRECTOR AND BOARD TREASURER REVIEW THE FORM 990 PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTEREST PERSON MUST DISCLOSE THE EXISTANCE OF HIS OR HER FINANCIAL INTEREST AND MUST BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH BOARD-DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE DIRECTOR SECURED DATA THAT THAT DOCUMENTED COMPENSATION LEVELS FOR SIMILARLY QUALIFIED INDIVIDUALS IN COMPARABLE POSITIONS AT SIMILAR ORGANIZATIONS WITHIN THE GEOGRAPHIC AREA. THIS INFORMATION WAS PRESENTED TO THE BOARD OF DIRECTORS WITH A RECOMMENDATION FOR COMPENSATION LEVEL THAT WAS INFORMED BY THIS DATA FOR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0BONN WADE

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,734,544
Liabilities
$397,308
Net assets
$2,337,236
Revenue
$1,042,167
Expenses
$721,493
Net income
$320,674
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.33$0.41$1.92$0.57$0.95$0.38
2023Detailed filing. Detailed filing data is available for this year.$2.71$0.41$2.30$0.77$0.81$0.04
2022Detailed filing. Detailed filing data is available for this year.$2.73$0.40$2.34$1.04$0.72$0.32
2021Detailed filing. Detailed filing data is available for this year.$2.28$0.26$2.02$0.77$0.68$0.09
2020Detailed filing. Detailed filing data is available for this year.$2.06$0.13$1.93$0.76$0.46$0.30
2019Summary only. Only limited summary data is available for this year.$1.74$0.11$1.63$0.70$0.19$0.51
2018Summary only. Only limited summary data is available for this year.$1.13$0.01$1.12$0.44$0.16$0.28
2017Detailed filing. Detailed filing data is available for this year.$0.84$0.00$0.84$0.68$0.03$0.65
2016Summary only. Only limited summary data is available for this year.$0.18$0.00$0.17$0.01$0.16
2015Summary only. Only limited summary data is available for this year.$0.02$0.00$0.03$0.00$0.02
2014Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2022 filings • 501(c)3 • $1M-$5M nonprofits