Civic Intelligence

The Obsidian Collection Archives

990 • Fiscal year 2021 • EIN 81-4569527

Jan 01, 2021 to Dec 31, 2021 • Filed on May 15, 2022

Organization Profilewww.theobsidiancollection.org
5417 S Michigan AveChicago, IL 60615-4606

(312) 447-0400

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$1,266,705

Up $1,110,749 (+712%) from 2020

Net Assets

Down

$2,705

Down $153,251 (-98%) from 2020

Liabilities

Up

$1,264,000

Up $1,264,000 from 2020

Revenue And Expenses

Revenue

Up

$190,334

Up $67,607 (+55%) from 2020

Expenses

Up

$293,390

Up $162,106 (+123%) from 2020

Net Income

Down

-$103,056

Down $94,499 (-1104%) from 2020

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2018: $24,382Liabilities 2018: $0Net Assets 2018: $24,3822018Assets 2019: $164,513Liabilities 2019: $0Net Assets 2019: $164,5132019Assets 2020: $155,956Liabilities 2020: $0Net Assets 2020: $155,9562020Assets 2021: $1,266,705Liabilities 2021: $1,264,000Net Assets 2021: $2,7052021Assets 2021: $1,311,445Liabilities 2021: $59,567Net Assets 2021: $1,251,8782021Assets 2022: $1,166,506Liabilities 2022: $1,255,100Net Assets 2022: -$88,5942022Assets 2023: $1,133,020Liabilities 2023: $1,250,000Net Assets 2023: -$116,9802023Assets 2024: $1,100,820Liabilities 2024: $1,250,000Net Assets 2024: -$149,1802024

Highlighted filing

2021

Assets$1,266,705
Liabilities$1,264,000
Net Assets$2,705
Open 2021 Filing

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2018: $196,989Expenses 2018: $174,627Net Income 2018: $22,3622018Revenue 2019: $201,377Expenses 2019: $61,246Net Income 2019: $140,1312019Revenue 2020: $122,727Expenses 2020: $131,284Net Income 2020: -$8,5572020Revenue 2021: $190,334Expenses 2021: $293,390Net Income 2021: -$103,0562021Revenue 2021: $190,334Expenses 2021: $294,877Net Income 2021: -$104,5432021Revenue 2022: $332,265Expenses 2022: $423,564Net Income 2022: -$91,2992022Revenue 2023: $128,849Expenses 2023: $158,585Net Income 2023: -$29,7362023Revenue 2024: $115,140Expenses 2024: $147,340Net Income 2024: -$32,2002024

Highlighted filing

2021

Revenue$190,334
Expenses$293,390
Net Income-$103,056
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 15, 2022
Return Version
2021v4.2
Gross Receipts
$190,334
Mission and Program Overview

Mission

Preserving the history of black press

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$57,430$1,180,945▲ $1,123,515
Cash and Non-Interest-Bearing Accounts$88,526$85,760▼ $2,766
Loans From Officers Directors-$14,000-
Savings and Temporary Cash Investments$10,000--
Total Assets$155,956$1,266,705▲ $1,110,749
Liabilities
Mortgage Notes Payable Secured by Investment Property-$1,250,000-
Total Liabilities$0$1,264,000▲ $1,264,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$155,956$2,705▼ $153,251
Total Net Assets Fund Balance$155,956$2,705▼ $153,251
Total Liabilities and Net Assets / Fund Balance$155,956$1,266,705▲ $1,110,749

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$855,427$15,822$871,249
Leasehold Improvements$135,432$727$136,159
Land$101,868-$101,868
Other Land Buildings$84,942$4,209$89,151
Equipment$3,276$1,566$4,842
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Angela J FordPresidentExecutive DirectorFT$48,000$48,000

Board Members and Trustees

NameTitle
Charles BowenDirector
John Moore IIIDirector
Wayne WatsonDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$190,334
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-103,056
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$293,390
Total Fundraising Expense$26,887
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$33,437$61,301$16,718$111,456
Information Technology$109,407--$109,407
Depreciation Depletion$21,349--$21,349
Fees for Services Legal-$14,304-$14,304
Travel$2,256-$9,024$11,280
Office Expenses$1,376$7,783$933$10,092
Advertising$6,012-$212$6,224
Fees for Services Accounting-$4,187-$4,187
Occupancy$2,060$2,061-$4,121
Fees for Services Other-$970-$970
Total Functional Expenses$175,897$90,606$26,887$293,390
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-$14,000-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“Governing body review will not be conducted. Review will be done by executive director only.”

Governing documents etc available to public Part VI line 19

“Documents will be available to the public upon written request.”

Filing and Contact Details

Filer

Filer Name
The Obsidian Collection Archives
EIN
81-4569527
Address
5417 S MICHIGAN AVE, Chicago, IL 60615-4606
Doing Business As
Obsidian Collection Archives

Signing Officer

Name
Angela Ford
Title
President
Phone
3126569154
Signed
2022-05-15
Discuss with paid preparer
No

Organization Details

Principal Officer
Angela J Ford
Formed
2017
Legal Domicile
Il
Voting Board Members
4
Independent Board Members
3
Employees
0

Preparer

Firm
Practical Financial Solutions Inc
Address
1715 E 55th Street Suite B, Chicago, IL 60615
Preparer
Greg Teague EA
Phone
7733821700
Supplemental Narrative

Additional Explanations

Amended return information

“Return amended to correct expenses, assets and liabilities per corrected financial statements.”

Significant program services not listed on prior year return Part III line 2

“Purchase and renovation of building to house the Obsidian Center.”

Raw XML Appendix351 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/Desc0Creation of The Obsidian Center website to guide and nuture African American journalists and The Obsidian Collection an archive of African American historical media images. Increased achival capacity and library of archived media igames from various sources. Engaged social media campaign to elevate reach of the collection to potential users. Purchase of building to house the Obsidian Center.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Governing body review will not be conducted. Review will be done by executive director only.
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01266705
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt09024
IRS990/TravelGrp/ProgramServicesAmt02256
IRS990/TravelGrp/TotalAmt011280
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Angela Ford
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum03126569154
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE OBSIDIAN COLLECTION ARCHIVES
ReturnHeader/Filer/BusinessNameControlTxt0OBSI
ReturnHeader/Filer/EIN0814569527
ReturnHeader/Filer/USAddress/AddressLine1Txt05417 S MICHIGAN AVE
ReturnHeader/Filer/USAddress/CityNm0Chicago
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd0606154606
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0461083350
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Practical Financial Solutions Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01715 E 55th Street Suite B
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Chicago
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060615
ReturnHeader/PreparerPersonGrp/PhoneNum07733821700
ReturnHeader/PreparerPersonGrp/PreparationDt02022-10-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Greg Teague EA
ReturnHeader/ReturnTs02022-10-26T01:00:40-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Angela
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Ford
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,266,705
Liabilities
$1,264,000
Net assets
$2,705
Revenue
$190,334
Expenses
$293,390
Net income
-$103,056
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$1.25$0.15$0.12$0.15$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.13$1.25$0.12$0.13$0.16$0.03
2022Detailed filing. Detailed filing data is available for this year.$1.17$1.26$0.09$0.33$0.42$0.09
2021Detailed filing. Detailed filing data is available for this year.$1.31$0.06$1.25$0.19$0.29$0.10
2021Detailed filing. Detailed filing data is available for this year.$1.27$1.26$0.00$0.19$0.29$0.10
2020Detailed filing. Detailed filing data is available for this year.$0.16$0.00$0.16$0.12$0.13$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.16$0.00$0.16$0.20$0.06$0.14
2018Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.20$0.17$0.02