Civic Intelligence

Chicago Infrastructure Trust

990 • Fiscal year 2018 • EIN 80-0880976

Jan 01, 2018 to Dec 31, 2018 • Filed on Apr 15, 2019

Organization Profilewww.chicagoinfrastructure.org
35 E Wacker DrChicago, IL 60601

(312) 809-8080

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$13,995,192

Flat from 2018

Net Assets

Flat

$2,351,338

Flat from 2018

Liabilities

Flat

$11,643,854

Flat from 2018

Revenue And Expenses

Revenue

Flat

$2,778,570

Flat from 2018

Expenses

Flat

$2,517,309

Flat from 2018

Net Income

Flat

$261,261

Flat from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2013: $111,666Liabilities 2013: $111,666Net Assets 2013: $02013Assets 2014: $271,208Liabilities 2014: $226,496Net Assets 2014: $44,7122014Assets 2015: $512,947Liabilities 2015: $327,607Net Assets 2015: $185,3402015Assets 2016: $14,646,084Liabilities 2016: $12,858,805Net Assets 2016: $1,787,2792016Assets 2017: $14,472,700Liabilities 2017: $12,382,623Net Assets 2017: $2,090,0772017Assets 2018: $13,995,192Liabilities 2018: $11,643,854Net Assets 2018: $2,351,3382018Assets 2018: $13,995,192Liabilities 2018: $11,643,854Net Assets 2018: $2,351,3382018Assets 2019: $12,813,452Liabilities 2019: $10,121,199Net Assets 2019: $2,692,2532019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2018

Assets$13,995,192
Liabilities$11,643,854
Net Assets$2,351,338
Open 2018 Filing

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $526,764Expenses 2013: $526,764Net Income 2013: $02013Revenue 2014: $1,150,000Expenses 2014: $1,105,288Net Income 2014: $44,7122014Revenue 2015: $1,413,395Expenses 2015: $1,272,767Net Income 2015: $140,6282015Revenue 2016: $2,966,341Expenses 2016: $2,348,230Net Income 2016: $618,1112016Revenue 2017: $2,856,233Expenses 2017: $2,553,435Net Income 2017: $302,7982017Revenue 2018: $2,778,570Expenses 2018: $2,517,309Net Income 2018: $261,2612018Revenue 2018: $2,778,570Expenses 2018: $2,517,309Net Income 2018: $261,2612018Revenue 2019: $2,787,087Expenses 2019: $2,446,172Net Income 2019: $340,9152019Revenue 2020: $2,067Expenses 2020: $230,553Net Income 2020: -$228,4862020

Highlighted filing

2018

Revenue$2,778,570
Expenses$2,517,309
Net Income$261,261
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Apr 15, 2019
Return Version
2018v3.1
Gross Receipts
$2,778,570
Mission and Program Overview

Mission

The Trust's purpose is to assist

Cit purpose is to assist the people of the city of chicago, the city government and its sister agencies in providing alternative financing and project delivery options for transformative infrastructure projects.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,921,501$10,939,976▼ $981,525
Cash and Non-Interest-Bearing Accounts$1,606,716$2,010,121▲ $403,405
Savings and Temporary Cash Investments$928,605$1,026,857▲ $98,252
Prepaid Expenses and Deferred Charges$13,320$15,680▲ $2,360
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Total Assets$14,472,700$13,995,192▼ $477,508
Other Assets Total$2,558$2,558→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$11,123,583$10,397,537▼ $726,046
Deferred Revenue$739,285$739,285→ $0
Accounts Payable and Accrued Expenses$519,755$507,032▼ $12,723
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Total Liabilities$12,382,623$11,643,854▼ $738,769
Net Assets / Fund Balance
Unrestricted Net Assets$2,090,077$2,351,338▲ $261,261
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$2,090,077$2,351,338▲ $261,261
Total Liabilities and Net Assets / Fund Balance$14,472,700$13,995,192▼ $477,508

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$0$0
Other Land Buildings$1,282$79,540$0
Land$0-$0
Equipment$10,938,694$2,903,034$0
Leasehold Improvements$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Leslie DarlingChief Executive OfficerFT$171,338$30,722$202,060
Leslie Darling--$171,338-$171,338
George MarquisosManaging DirectorFT$118,314$21,597$139,911
Tom BudescuManaging Director of FinanceFT$130,000$4,788$134,788
Tom Budescu--$130,000-$130,000
George Marquisos--$118,314-$118,314

Board Members and Trustees

NameTitle
Kurt SummersPresident
Alderman Gil VillegasBoard Member
Damon SilversBoard Member
Debra a CafaroBoard Member
Elizabeth CoolidgeBoard Member
James M SweeneyBoard Member
Jason ErvinBoard Member
Mary Sue BarrettBoard Member
Michael ScottBoard Member
Miguel ZarateBoard Member
Ralph AffruntiBoard Member
Carl LingenfelterTreasurer/secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,300,000
Program Service Revenue
$1,478,570
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$261,261

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,778,570
Total Revenue per Audited Statements
$2,778,570
Total Revenue per Form 990
$2,778,570
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,804,199
Salaries, Compensation, and Employee Benefits$713,110
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$984,656$4,755$0$989,411
Interest$573,710$0$0$573,710
Current Officers, Directors, Trustees, and Key Employees$387,564$88,195$0$475,759
Fees for Services Other$71,566$34,764$0$106,330
Other Salaries and Wages$92,061$7,159$0$99,220
Other Employee Benefits$52,566$40,992$0$93,558
Fees for Services Accounting$0$60,000$0$60,000
Payroll Taxes$34,388$10,185$0$44,573
Occupancy$0$42,481$0$42,481
Insurance$0$20,668$0$20,668
Travel$0$2,557$0$2,557
Other Expenses$0$1,922$0$1,922
Advertising$0$1,818$0$1,818
Office Expenses$0$1,506$0$1,506
Total Functional Expenses$2,196,511$320,798$0$2,517,309

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,517,309
Total Expenses per Audited Statements$2,517,309
Total Expenses per Form 990$2,517,309
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 Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AChicago Infrastructure Trust2014-04-11$12,848,959For infrastructure retrofit

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$12,848,959$33,772-$450,750

Bond Financing Compliance

Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
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 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
Chicago Infrastructure Trust
EIN
80-0880976
Phone
3128098080
Address
35 E WACKER DR, CHICAGO, IL 60601
Doing Business As
Na

Signing Officer

Name
Leslie Darling
Title
Chief Executive Officer
Phone
3128098080
Signed
2019-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Leslie M Darling
Formed
2012
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
8
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 12C

“The board informs each board member officers and key employees to disclose any relationship with the organization that may give rise to a conflict of interest annually.”

Pt VI, Line 15B

“The ceo uses the same methods afforded to the board when determining compensation for officers and key employees.”

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 11B

“The 990 is presented to the board of directors for review and approval before filing once approval is received the 990 is then filed electronically.”

Pt VI, Line 19

“The organization makes its governing documents available upon request.”

Form 990, Part III, Line 4D

“Others program services 217834. 217834. 0.”

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IRS990/MissionDesc0CIT PURPOSE IS TO ASSIST THE PEOPLE OF THE CITY OF CHICAGO, THE CITY GOVERNMENT AND ITS SISTER AGENCIES IN PROVIDING ALTERNATIVE FINANCING AND PROJECT DELIVERY OPTIONS FOR TRANSFORMATIVE INFRASTRUCTURE PROJECTS.
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt052566
IRS990/OtherEmployeeBenefitsGrp/TotalAmt093558
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt015680
IRS990/PrincipalOfficerNm0LESLIE M DARLING
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IRS990/ProgSrvcAccomActy3Grp/Desc0PUBLIC SAFETY TRAINING ACADEMY PROJECT - TO CONSOLIDATE AND REPLACE VARIOUS CHICAGO POLICE DEPARTMENT AND FIRE DEPARTMENT TRAINING FACILITIES TO A NEW CENTRALIZE CAMPUS AT 4301 W. CHICAGO AVENUE. THIS TRANSFORMATIVE PROJECT WILL PROVIDE ALL OF CHICAGO'S FIRST RESPONDERS WITH MODERN FACILITIES FOR LEARNING AND PRACTICING THE LARGEST TECHNIQUES IN EMERGENCY RESPONSE.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0Others program services
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherExpensesAmt01882475
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IRS990/PYSalariesCompEmpBnftPaidAmt0670960
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IRS990/PYTotalRevenueAmt02856233
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IRS990/RegularMonitoringEnfrcInd0true
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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt02903034
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt013841728
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IRS990ScheduleD/TotalExpensesPerForm990Amt02517309
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,995,192
Liabilities
$11,643,854
Net assets
$2,351,338
Revenue
$2,778,570
Expenses
$2,517,309
Net income
$261,261
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.23$0.23
2019Detailed filing. Detailed filing data is available for this year.$12.8$10.1$2.69$2.79$2.45$0.34
2018Detailed filing. Detailed filing data is available for this year.$14.0$11.6$2.35$2.78$2.52$0.26
2018Detailed filing. Detailed filing data is available for this year.$14.0$11.6$2.35$2.78$2.52$0.26
2017Summary only. Only limited summary data is available for this year.$14.5$12.4$2.09$2.86$2.55$0.30
2016Summary only. Only limited summary data is available for this year.$14.6$12.9$1.79$2.97$2.35$0.62
2015Detailed filing. Detailed filing data is available for this year.$0.51$0.33$0.19$1.41$1.27$0.14
2014Detailed filing. Detailed filing data is available for this year.$0.27$0.23$0.04$1.15$1.11$0.04
2013Detailed filing. Detailed filing data is available for this year.$0.11$0.11$0.00$0.53$0.53$0.00