Civic Intelligence

Iris Foundation

EIN 47-4623746 • 501(c)3 • Chicago, IL

Profile

The iris foundation (the "foundation") exists to support the application, engagement and dissemination of "first principles thinking" in science, education, community, development and civic engagement.the foundation is organized exclusively for charitable, scientific, and educational purposes within the meaning of section 501(c)(3) of the internal revenue code, including the advancement of education, science and social science by conducting labs, case studies, discussion groups, forums, panels, lecturs, and similar programs.the foundation will offer its facilities and resources to individuals and organizations, including students, professors, and universities, initially with a focus on those students, professors, and universities located within illinois including, without limitaiton, the university of illinois at champaign-urbana, to support labs and case studies to test concepts and generate data to effectuate social and community benefits. The results of these labs will be available

2502 N Clark St 200Chicago, IL 60614

www.irisfoundation.org

Siviq Scores

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

Liabilities / Assets

84th percentile

0.25x

Higher debt load relative to assets than 84% of similar nonprofits.

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

Liabilities / Revenue

74th percentile

0.02x

Higher debt load relative to revenue than 74% of similar nonprofits.

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

Net Margin

62nd percentile

8.7%

Higher net margin than 62% of similar nonprofits.

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

Top Officer Pay

97th percentile

$79,000

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 89.8% of source-year revenue.

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

Asset Growth

99th percentile

1629%

Faster asset growth than 99% of similar nonprofits.

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

Revenue Growth

58th percentile

4.2%

Faster revenue growth than 58% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$8,160

Up $7,688 (+1629%) from 2019

Liabilities

Flat

$2,000

Flat from 2019

Net Assets

Up

$6,160

Up $7,688 (+503%) from 2019

Operations
Liabilities / Revenue74th percentileNet Margin62nd percentile

Revenue

Up

$88,000

Up $3,538 (+4.2%) from 2019

Expenses

Down

$80,312

Down $4,557 (-5.4%) from 2019

Net Income

Up

$7,688

Up $8,095 (+1989%) from 2019

Trend Graphs

Balance Sheet Trend

Asset Growth99th percentile

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

$300K$200K$100K$0-$100KAssets 2015: $216,472Liabilities 2015: $0Net Assets 2015: $216,4722015Assets 2016: $21,310Liabilities 2016: $11,349Net Assets 2016: $9,9612016Assets 2017: $6,316Liabilities 2017: $0Net Assets 2017: $6,3162017Assets 2018: $879Liabilities 2018: $2,000Net Assets 2018: -$1,1212018Assets 2019: $472Liabilities 2019: $2,000Net Assets 2019: -$1,5282019Assets 2020: $8,160Liabilities 2020: $2,000Net Assets 2020: $6,1602020

Highlighted filing

2020

Assets$8,160
Liabilities$2,000
Net Assets$6,160
Open 2020 Filing

Operations Trend

Revenue Growth58th percentile

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

$400K$200K$0-$200K-$400KRevenue 2015: $250,000Expenses 2015: $33,528Net Income 2015: $216,4722015Revenue 2016: $22,000Expenses 2016: $228,511Net Income 2016: -$206,5112016Revenue 2017: $36,547Expenses 2017: $40,192Net Income 2017: -$3,6452017Revenue 2018: $95,175Expenses 2018: $97,902Net Income 2018: -$2,7272018Revenue 2019: $84,462Expenses 2019: $84,869Net Income 2019: -$4072019Revenue 2020: $88,000Expenses 2020: $80,312Net Income 2020: $7,6882020

Highlighted filing

2020

Revenue$88,000
Expenses$80,312
Net Income$7,688
Open 2020 Filing

Filings

Most recent year

2020 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$8,160
Liabilities
$2,000
Net assets
$6,160
Revenue
$88,000
Expenses
$80,312
Net income
$7,688
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.08$0.02$0.06$0.88$0.80$0.08
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.02$0.02$0.84$0.85$0.00
2018Summary only. Only limited summary data is available for this year.$0.01$0.02$0.01$0.95$0.98$0.03
2017Summary only. Only limited summary data is available for this year.$0.06$0.00$0.06$0.37$0.40$0.04
2016Summary only. Only limited summary data is available for this year.$0.21$0.11$0.10$0.22$2.29$2.07
2015Summary only. Only limited summary data is available for this year.$2.16$0.00$2.16$2.50$0.34$2.16
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Dec 17, 2021
Return Version
2020v4.0
Gross Receipts
$88,000
Mission and Program Overview

Mission

The iris foundation (the "foundation") exists to support the application, engagement and dissemination of "first principles thinking" in science, education, community, development and civic engagement.the foundation is organized exclusively for charitable, scientific, and educational purposes within the meaning of section 501(c)(3) of the internal revenue code, including the advancement of education, science and social science by conducting labs, case studies, discussion groups, forums, panels, lecturs, and similar programs.the foundation will offer its facilities and resources to individuals and organizations, including students, professors, and universities, initially with a focus on those students, professors, and universities located within illinois including, without limitaiton, the university of illinois at champaign-urbana, to support labs and case studies to test concepts and generate data to effectuate social and community benefits. The results of these labs will be available

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$472$8,160▲ $7,688
Loans From Officers Directors$2,000$2,000→ $0
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$472$8,160▲ $7,688
Other Assets Total-$0-
Liabilities
Total Liabilities$2,000$2,000→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,528$6,160▲ $7,688
Total Net Assets Fund Balance$-1,528$6,160▲ $7,688
Total Liabilities and Net Assets / Fund Balance$472$8,160▲ $7,688
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Pericles ToscasExecutive DirectorPT$79,000$79,000

Board Members and Trustees

NameTitle
Thananuan ChariyaVice President
Oliver DerzaSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$88,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$7,688
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$79,000
Other Expenses$1,312
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$71,100$7,900-$79,000
Other Expenses$47$5-$52
Total Functional Expenses$72,341$7,971$0$80,312
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
Loans from Officers, Directors, Trustees, and Key Employees$2,000$2,000→ $0
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Review and inspection by committee”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“All potential conflicts subject to review and approval by governing body”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Compensation based on sutdy of public data on salaries for comparable positions, responsibilities and duties.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Any hiring or compensation to be reviewed and approved based on comparable market data for position.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“Available for public inspection upon request.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Available for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Iris Foundation
EIN
47-4623746
Phone
3128587424
Address
2502 N CLARK ST 200, CHICAGO, IL 60614

Signing Officer

Name
Pericles Toscas
Title
Executive Director
Signed
2021-12-17
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
8

Preparer

Firm
George Bagley & Company LLC
Address
17W220 22ND STREET STE 500, OAKBROOK TERRACE, IL 60181
Preparer
Michael D Chandler Ii
Phone
6309900355
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt095175
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt036547
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt022000
IRS990ScheduleA/Total509Grp/TotalAmt0326184
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0ST FUNDING
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt02000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0PERICLES TOSCAS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0OFFICER
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IRS990ScheduleL/TotalBalanceDueAmt02000
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEW AND INSPECTION BY COMMITTEE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL POTENTIAL CONFLICTS SUBJECT TO REVIEW AND APPROVAL BY GOVERNING BODY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION BASED ON SUTDY OF PUBLIC DATA ON SALARIES FOR COMPARABLE POSITIONS, RESPONSIBILITIES AND DUTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY HIRING OR COMPENSATION TO BE REVIEWED AND APPROVED BASED ON COMPARABLE MARKET DATA FOR POSITION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TITLE HOLDING EXEMPT ORGANIZATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0N/A
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt08160
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt088000
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07971
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt072341
IRS990/TotalFunctionalExpensesGrp/TotalAmt080312
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02000
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IRS990/TotalLiabilitiesGrp/BOYAmt02000
IRS990/TotalLiabilitiesGrp/EOYAmt02000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1528
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06160
IRS990/TotalProgramServiceExpensesAmt072341
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt079000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt088000
IRS990/TotalVolunteersCnt08
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08160
IRS990/TravelGrp/TotalAmt00
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02502 N CLARK ST 200
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IRS990/VotingMembersGoverningBodyCnt03
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IRS990/WebsiteAddressTxt0WWW.IRISFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PERICLES TOSCAS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-12-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IRIS FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0IRIS
ReturnHeader/Filer/EIN0474623746
ReturnHeader/Filer/PhoneNum03128587424
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ReturnHeader/Filer/USAddress/ZIPCd060614
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0362245607
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GEORGE BAGLEY & COMPANY LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt017W220 22ND STREET STE 500
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OAKBROOK TERRACE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060181
ReturnHeader/PreparerPersonGrp/PhoneNum06309900355
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL D CHANDLER II
ReturnHeader/ReturnTs02021-12-17T12:31:43-08:00
ReturnHeader/ReturnTypeCd0990

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