Civic Intelligence

James Buchanan Scholarship Fund Inc

990 • Fiscal year 2016 • EIN 81-1730434

Feb 26, 2016 to Dec 31, 2016 • Filed on Oct 27, 2017

Organization ProfileWWW.JOHNSONKROL.COM/JAMES-BUCHANAN-SCHOLARSHIP-FU
311 S Wacker Drive No 1050Chicago, IL 60606-6627

(312) 757-5460

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

55th percentile

0.00x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

99th percentile

98%

Higher net margin than 99% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Balance Sheet
Liabilities / Assets56th percentile

Assets

$241,707

No earlier filing loaded for comparison.

Net Assets

$241,707

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin99th percentile

Revenue

$247,157

No earlier filing loaded for comparison.

Expenses

$5,450

No earlier filing loaded for comparison.

Net Income

$241,707

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$300K$200K$100K$0Assets 2016: $241,707Liabilities 2016: $0Net Assets 2016: $241,7072016Assets 2017: $216,917Liabilities 2017: $0Net Assets 2017: $216,9172017Assets 2018: $189,450Liabilities 2018: $0Net Assets 2018: $189,4502018Assets 2019: $167,394Liabilities 2019: $0Net Assets 2019: $167,3942019Assets 2020: $139,272Liabilities 2020: $0Net Assets 2020: $139,2722020Assets 2021: $121,212Liabilities 2021: $0Net Assets 2021: $121,2122021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2016

Assets$241,707
Liabilities$0
Net Assets$241,707
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$300K$200K$100K$0-$100K-$200KRevenue 2016: $247,157Expenses 2016: $5,450Net Income 2016: $241,7072016Revenue 2017: $10,583Expenses 2017: $35,373Net Income 2017: -$24,7902017Revenue 2018: $8,929Expenses 2018: $36,396Net Income 2018: -$27,4672018Revenue 2019: $9,819Expenses 2019: $31,875Net Income 2019: -$22,0562019Revenue 2020: $13,372Expenses 2020: $41,494Net Income 2020: -$28,1222020Revenue 2021: $18,504Expenses 2021: $36,564Net Income 2021: -$18,0602021Revenue 2022: $21,831Expenses 2022: $143,043Net Income 2022: -$121,2122022

Highlighted filing

2016

Revenue$247,157
Expenses$5,450
Net Income$241,707
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Feb 26, 2016 to Dec 31, 2016
Signed
Oct 27, 2017
Return Version
2016v3.0
Gross Receipts
$362,893
Mission and Program Overview

Mission

For charitable purposes, including for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the internal revenue code and to engage in fund-raising activities to support annual scholarships to eligible children of members of the pipe fitters' association local union 597, chicago, illinois.

For charitable purposes and to provide annual scholarships to eligible children of members of the pipe fitters' association local union 597, chicago, illinois.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities-$239,262-
Cash and Non-Interest-Bearing Accounts-$2,414-
Savings and Temporary Cash Investments-$31-
Total Assets$0$241,707▲ $241,707
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets-$241,707-
Total Net Assets Fund Balance$0$241,707▲ $241,707
Total Liabilities and Net Assets / Fund Balance$0$241,707▲ $241,707
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Dennis R JohnsonPresident
Russ LabargeSecretary
John KuszynskiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$245,864
Program Service Revenue
$0
Investment Income
$1,293
Other Revenue
$0
Change in Net Assets
$241,707

Audited Revenue Reconciliation

Revenue per Audited Statements
$247,157
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$115,736
Total Revenue per Audited Statements
$362,893
Total Revenue per Form 990
$247,157
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,450
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$5,010--$5,010
Other Expenses-$440-$440
Total Functional Expenses$5,010$440$0$5,450

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$121,186
Expenses Not Reported on Form 990$115,736
Expenses per Audited Statements$5,450
Total Expenses per Form 990$5,450
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$115,736
Fundraising Gross Income$115,736
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Retirement Dinner Gala$361,600$115,736$19,963$95,773
Total Events$361,600$115,736$115,736$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
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 fund does not have a segregated committee which acts on behalf of the governing body.”

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

“The form 990 is prepared by an independent accounting firm and provided to the president for review. The president has the authority to execute the signing of the form after careful review. This may precede the entire governing body being provided with the form 990. If so the governing body is subsequently provided with the form.”

Form 990, Part VI, Section C, Line 19

“The governing documents and financial statements are available upon request at the funds office.”

Filing and Contact Details

Filer

Filer Name
James Buchanan Scholarship Fund Inc
EIN
81-1730434
Phone
3127575460
Address
311 S WACKER DRIVE NO 1050, CHICAGO, IL 60606-6627

Signing Officer

Name
Dennis R Johnson
Title
President
Phone
3127575460
Signed
2017-10-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dennis R Johnson
Formed
2016
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Legacy Professionals Llp
Address
311 S WACKER DRIVE STE 4000, CHICAGO, IL 60606
Preparer
Victor Ancich
Phone
3123680500
Supplemental Narrative

Additional Explanations

Form 990, Part IV, Line 12A

“The fund maintains their books and records using the cash basis of accounting. The cash basis is considered an other comprehensive basis of accounting. An audit of the records has been performed for the reporting year using this accounting basis”

Financial Statement Notes

PART X, LINE 2:

“The internal revenue service has advised that the fund qualifies under section 501(c)(3) of the internal revenue code and is, therefore, not subject to tax under present income tax laws. In addition, the internal revenue service has determined that the fund is not a private foundation within the meaning of section 509(2) of the internal revenue code. The fund files form 990, return of organization exempt from income tax. The fund's return is subject to examination by the internal revenue service until the applicable statute of limitations expire.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising expenses 115,736.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising expenses 115,736.”

Raw XML Appendix316 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.

Path#Value
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IRS990/ActivityOrMissionDesc0FOR CHARITABLE PURPOSES AND TO PROVIDE ANNUAL SCHOLARSHIPS TO ELIGIBLE CHILDREN OF MEMBERS OF THE PIPE FITTERS' ASSOCIATION LOCAL UNION 597, CHICAGO, ILLINOIS.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE FUND WAS FORMED ON FEBRUARY 26, 2016 MAKING THE CURRENT YEAR 2016 A SHORT YEAR.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 14
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE INTERNAL REVENUE SERVICE HAS ADVISED THAT THE FUND QUALIFIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS, THEREFORE, NOT SUBJECT TO TAX UNDER PRESENT INCOME TAX LAWS. IN ADDITION, THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE FUND IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(2) OF THE INTERNAL REVENUE CODE. THE FUND FILES FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX. THE FUND'S RETURN IS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE UNTIL THE APPLICABLE STATUTE OF LIMITATIONS EXPIRE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSES 115,736.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSES 115,736.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FUND DOES NOT HAVE A SEGREGATED COMMITTEE WHICH ACTS ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND PROVIDED TO THE PRESIDENT FOR REVIEW. THE PRESIDENT HAS THE AUTHORITY TO EXECUTE THE SIGNING OF THE FORM AFTER CAREFUL REVIEW. THIS MAY PRECEDE THE ENTIRE GOVERNING BODY BEING PROVIDED WITH THE FORM 990. IF SO THE GOVERNING BODY IS SUBSEQUENTLY PROVIDED WITH THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE FUNDS OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FUND MAINTAINS THEIR BOOKS AND RECORDS USING THE CASH BASIS OF ACCOUNTING. THE CASH BASIS IS CONSIDERED AN OTHER COMPREHENSIVE BASIS OF ACCOUNTING. AN AUDIT OF THE RECORDS HAS BEEN PERFORMED FOR THE REPORTING YEAR USING THIS ACCOUNTING BASIS
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 C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IV, LINE 12A
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0241707
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0241707
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0311 S WACKER DRIVE NO 1050
IRS990/USAddress/CityNm0CHICAGO
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd0606066627
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.JOHNSONKROL.COM/JAMES-BUCHANAN-SCHOLARSHIP-FU
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DENNIS R JOHNSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03127575460
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-10-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0JAMES BUCHANAN SCHOLARSHIP FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0JAME
ReturnHeader/Filer/EIN0811730434
ReturnHeader/Filer/PhoneNum03127575460
ReturnHeader/Filer/USAddress/AddressLine1Txt0311 S WACKER DRIVE NO 1050
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd0606066627
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0B6CA82F40EE6B962C5D2B955846A56D450A98F3B
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0C3168D624729577079CA47B99B0ED2C5793BD89E
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt012.197.118.215
ReturnHeader/FilingSecurityInformation/IPDt02017-10-27
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:10:03
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0320043599
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LEGACY PROFESSIONALS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0311 S WACKER DRIVE STE 4000
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHICAGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060606
ReturnHeader/PreparerPersonGrp/PhoneNum03123680500
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0VICTOR ANCICH
ReturnHeader/ReturnTs02017-10-27T10:10:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-02-26
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$241,707
Liabilities
$0
Net assets
$241,707
Revenue
$247,157
Expenses
$5,450
Net income
$241,707
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.22$1.43$1.21
2021Detailed filing. Detailed filing data is available for this year.$1.21$0.00$1.21$0.19$0.37$0.18
2020Detailed filing. Detailed filing data is available for this year.$1.39$0.00$1.39$0.13$0.41$0.28
2019Detailed filing. Detailed filing data is available for this year.$1.67$0.00$1.67$0.10$0.32$0.22
2018Detailed filing. Detailed filing data is available for this year.$1.89$0.00$1.89$0.09$0.36$0.27
2017Detailed filing. Detailed filing data is available for this year.$2.17$0.00$2.17$0.11$0.35$0.25
2016Detailed filing. Detailed filing data is available for this year.$2.42$0.00$2.42$2.47$0.05$2.42