Civic Intelligence

Lpmc Foundation

990 • Fiscal year 2019 • EIN 47-2032801

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 10, 2020

Organization ProfileWWW.LPMCFOUNDATION.ORG
2667 North Lincoln AvenueChicago, IL 60614

(773) 680-2200

Siviq Scores

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

Liabilities / Assets

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

28th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

95th percentile

67%

Higher net margin than 95% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

80th percentile

24%

Faster asset growth than 80% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

16th percentile

-19%

Faster revenue growth than 16% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets27th percentile

Assets

Up

$502,799

Up $97,855 (+24%) from 2018

Net Assets

Up

$502,799

Up $97,855 (+24%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue28th percentileNet Margin95th percentile

Revenue

Down

$60,828

Down $14,066 (-19%) from 2018

Expenses

Down

$20,288

Down $17,123 (-46%) from 2018

Net Income

Up

$40,540

Up $3,057 (+8.2%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$1.0M$500K$0Assets 2015: $202,364Liabilities 2015: $0Net Assets 2015: $202,3642015Assets 2016: $317,724Liabilities 2016: $0Net Assets 2016: $317,7242016Assets 2017: $390,890Liabilities 2017: $0Net Assets 2017: $390,8902017Assets 2018: $404,944Liabilities 2018: $0Net Assets 2018: $404,9442018Assets 2019: $502,799Liabilities 2019: $0Net Assets 2019: $502,7992019Assets 2020: $564,901Liabilities 2020: $0Net Assets 2020: $564,9012020Assets 2021: $738,502Liabilities 2021: $0Net Assets 2021: $738,5022021Assets 2022: $651,994Liabilities 2022: $0Net Assets 2022: $651,9942022Assets 2023: $785,333Liabilities 2023: $0Net Assets 2023: $785,3332023Assets 2024: $872,237Liabilities 2024: $0Net Assets 2024: $872,2372024

Highlighted filing

2019

Assets$502,799
Liabilities$0
Net Assets$502,799
Open 2019 Filing

Operations Trend

Revenue Growth16th percentile

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

$300K$200K$100K$0Revenue 2015: $248,971Expenses 2015: $43,996Net Income 2015: $204,9752015Revenue 2016: $129,106Expenses 2016: $27,264Net Income 2016: $101,8422016Revenue 2017: $116,525Expenses 2017: $84,090Net Income 2017: $32,4352017Revenue 2018: $74,894Expenses 2018: $37,411Net Income 2018: $37,4832018Revenue 2019: $60,828Expenses 2019: $20,288Net Income 2019: $40,5402019Revenue 2020: $54,215Expenses 2020: $28,067Net Income 2020: $26,1482020Revenue 2021: $163,000Expenses 2021: $23,391Net Income 2021: $139,6092021Revenue 2022: $48,426Expenses 2022: $32,645Net Income 2022: $15,7812022Revenue 2023: $64,902Expenses 2023: $15,992Net Income 2023: $48,9102023Revenue 2024: $59,288Expenses 2024: $28,682Net Income 2024: $30,6062024

Highlighted filing

2019

Revenue$60,828
Expenses$20,288
Net Income$40,540
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 10, 2020
Return Version
2019v5.1
Gross Receipts
$69,934
Mission and Program Overview

Mission

to share the benefits of a creative education and give the beneficiaries of our program the opportunity to develop positive self-esteem through music by learning skills that will help them throughout their lives.

To provide funding to musical organizations in order to share the benefits of a creative education

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$323,469$444,877▲ $121,408
Cash and Non-Interest-Bearing Accounts$81,475$57,922▼ $23,553
Total Assets$404,944$502,799▲ $97,855
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$404,944$502,799▲ $97,855
Total Net Assets Fund Balance$404,944$502,799▲ $97,855
Total Liabilities and Net Assets / Fund Balance$404,944$502,799▲ $97,855
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Whe Do KimPresident
Fannie YoungDirector
Jeane-emily DuboseDirector
Mariam AlsikafiDirector
Rachel KohlerDirector
Vanessa LyonDirector
Lisa CapitaniniSecretary
Elizabeth ChowTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$45,800
Program Service Revenue
$0
Investment Income
$15,028
Other Revenue
$0
All Other Contributions
$45,800
Change in Net Assets
$40,540
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$12,426
Other Expenses$7,862
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$12,426--$12,426
Fees for Services Accounting-$3,600-$3,600
Travel$2,211--$2,211
Office Expenses-$990-$990
Fees for Service Investment Mgmnt Fees-$759-$759
Fees for Services Legal-$302-$302
Total Functional Expenses$14,637$5,651$0$20,288
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Intonation Music IncChicago, IL501(c)(3)To Provide Funding to Standardize and Upgrade Key Musical Instruments to Enhance Student Performance and Skill Development.$12,426
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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 foundation did not have any committees with the authority to act on behalf of the governing body.”

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

“Form 990 is prepared by the foundation's outside cpa firm and reviewed in detail by the foundation's president and treasurer. Once approved, a copy of the finalized return is provided to all board members prior to filing with the irs.”

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

“All officers and directors are provided with a copy of the conflict of interest policy upon joining the foundation. Each individual is required annually to review and agree to comply with the policy. Any potential conflicts of interest are brought to the attention of the board which will discuss and vote on the matter without the presence of the interested party.”

Form 990, Part VI, Section B, Line 15

“The foundation does not pay compensation to any officers or directors.”

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
Lpmc Foundation
EIN
47-2032801
Phone
7736802200
Address
2667 NORTH LINCOLN AVENUE, CHICAGO, IL 60614

Signing Officer

Name
Elizabeth Chow
Title
Treasurer
Phone
7736802200
Signed
2020-08-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Whe Do Kim
Formed
2014
Legal Domicile
Il
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
18

Preparer

Firm
Ostrow Reisin Berk & Abrams Ltd
Address
455 N CITYFRONT PLAZA DR SUITE 1500, CHICAGO, IL 60611
Preparer
Jeffrey C Newman
Phone
3126707444
Raw XML Appendix360 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/MissionDesc0TO SHARE THE BENEFITS OF A CREATIVE EDUCATION AND GIVE THE BENEFICIARIES OF OUR PROGRAM THE OPPORTUNITY TO DEVELOP POSITIVE SELF-ESTEEM THROUGH MUSIC BY LEARNING SKILLS THAT WILL HELP THEM THROUGHOUT THEIR LIVES.
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO PROVIDE FUNDING TO STANDARDIZE AND UPGRADE KEY MUSICAL INSTRUMENTS TO ENHANCE STUDENT PERFORMANCE AND SKILL DEVELOPMENT.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0INTONATION MUSIC INC
IRS990ScheduleI/RecipientTable/RecipientEIN0260799250
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt04434 S LAKE PARK AVE SUITE 110
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION REQUIRES DOCUMENTATION TO SUPPORT THE PURCHASE OF ITEMS BY THE GRANTEE ORGANIZATION THAT WERE LISTED AS PART OF THE GRANT AGREEMENT TO ENSURE THAT GRANT FUNDS ARE BEING USED BY THE GRANTEE FOR THEIR INTENDED PURPOSE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION DID NOT HAVE ANY COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PREPARED BY THE FOUNDATION'S OUTSIDE CPA FIRM AND REVIEWED IN DETAIL BY THE FOUNDATION'S PRESIDENT AND TREASURER. ONCE APPROVED, A COPY OF THE FINALIZED RETURN IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL OFFICERS AND DIRECTORS ARE PROVIDED WITH A COPY OF THE CONFLICT OF INTEREST POLICY UPON JOINING THE FOUNDATION. EACH INDIVIDUAL IS REQUIRED ANNUALLY TO REVIEW AND AGREE TO COMPLY WITH THE POLICY. ANY POTENTIAL CONFLICTS OF INTEREST ARE BROUGHT TO THE ATTENTION OF THE BOARD WHICH WILL DISCUSS AND VOTE ON THE MATTER WITHOUT THE PRESENCE OF THE INTERESTED PARTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOUNDATION DOES NOT PAY COMPENSATION TO ANY OFFICERS OR DIRECTORS.
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 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$502,799
Liabilities
$0
Net assets
$502,799
Revenue
$60,828
Expenses
$20,288
Net income
$40,540
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.72$0.00$8.72$0.59$0.29$0.31
2023Detailed filing. Detailed filing data is available for this year.$7.85$0.00$7.85$0.65$0.16$0.49
2022Detailed filing. Detailed filing data is available for this year.$6.52$0.00$6.52$0.48$0.33$0.16
2021Detailed filing. Detailed filing data is available for this year.$7.39$0.00$7.39$1.63$0.23$1.40
2020Detailed filing. Detailed filing data is available for this year.$5.65$0.00$5.65$0.54$0.28$0.26
2019Detailed filing. Detailed filing data is available for this year.$5.03$0.00$5.03$0.61$0.20$0.41
2018Detailed filing. Detailed filing data is available for this year.$4.05$0.00$4.05$0.75$0.37$0.37
2017Detailed filing. Detailed filing data is available for this year.$3.91$0.00$3.91$1.17$0.84$0.32
2016Detailed filing. Detailed filing data is available for this year.$3.18$0.00$3.18$1.29$0.27$1.02
2015Detailed filing. Detailed filing data is available for this year.$2.02$0.00$2.02$2.49$0.44$2.05