Civic Intelligence

Cut Illinois Taxes Now Inc

EIN 84-3382838 • 501(c)4 • Rolling Meadows, IL

Profile

Educating the citizens of Illinois about the impact of state and local tax policy and advocating for sensible tax policies in Illinois.

1843 Hicks RdRolling Meadows, IL 60008

cutillinoistaxesnow.com

Siviq Scores

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

Liabilities / Assets

59th percentile

0.00x

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

501(c)4 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2024

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2024

Top Officer Pay

89th percentile

$0

Higher top officer pay than 89% of similar nonprofits.

501(c)4 • <$500k nonprofits • Source year 2024

Asset Growth

30th percentile

-16%

Faster asset growth than 30% of similar nonprofits.

501(c)4 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets59th percentile

Assets

Down

$5,292

Down $1,233 (-19%) from 2021

Liabilities

Flat

$0

Flat from 2021

Net Assets

Down

$5,292

Down $1,233 (-19%) from 2021

Operations
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

Down

$0

Down $60,005 (-100%) from 2021

Expenses

Down

$1,012

Down $85,475 (-99%) from 2021

Net Income

Up

-$1,012

Up $25,470 (+96%) from 2021

Trend Graphs

Balance Sheet Trend

Asset Growth30th percentile

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

$200K$150K$100K$50K$0Assets 2019: $179,484Liabilities 2019: $0Net Assets 2019: $179,4842019Assets 2020: $33,007Liabilities 2020: $0Net Assets 2020: $33,0072020Assets 2021: $6,525Liabilities 2021: $0Net Assets 2021: $6,5252021Assets 2024: $5,292Liabilities 2024: $0Net Assets 2024: $5,2922024

Highlighted filing

2024

Assets$5,292
Liabilities$0
Net Assets$5,292
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$400K$200K$0-$200KRevenue 2019: $200,010Expenses 2019: $20,525Net Income 2019: $179,4852019Revenue 2020: $115,063Expenses 2020: $261,541Net Income 2020: -$146,4782020Revenue 2021: $60,005Expenses 2021: $86,487Net Income 2021: -$26,4822021Revenue 2024: $0Expenses 2024: $1,012Net Income 2024: -$1,0122024

Highlighted filing

2024

Revenue$0
Expenses$1,012
Net Income-$1,012
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$5,292
Liabilities
$0
Net assets
$5,292
Revenue
$0
Expenses
$1,012
Net income
-$1,012
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.00$0.05$0.00$0.01$0.01
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.07$0.00$0.07$0.60$0.86$0.26
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.33$0.00$0.33$1.15$2.62$1.46
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.79$0.00$1.79$2.00$0.21$1.79
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 28, 2025
Return Version
2024v5.1
Gross Receipts
$0
Mission and Program Overview

Mission

Educating the citizens of Illinois about the impact of state and local tax policy and advocating for sensible tax policies in Illinois.

Balance Sheet Detail
LineBeginningEndChange
Assets
Intangible Assets$4,777$4,332▼ $445
Cash and Non-Interest-Bearing Accounts$1,527$960▼ $567
Total Assets$6,304$5,292▼ $1,012
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,304$5,292▼ $1,012
Total Net Assets Fund Balance$6,304$5,292▼ $1,012
Total Liabilities and Net Assets / Fund Balance$6,304$5,292▼ $1,012
Compensation and Service Providers
Top Officer Pay89th percentile

Board Members and Trustees

NameTitle
David McSweeneyPresident
Margaret McSweeneySecretary
Bryan LuczkiwTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$-1,012
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,012
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$0$567$0$567
Depreciation Depletion$445$0$0$445
Total Functional Expenses$445$567$0$1,012
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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
Filing and Contact Details

Filer

Filer Name
Cut Illinois Taxes Now Inc
EIN
84-3382838
Phone
8472415757
Address
1843 HICKS RD, ROLLING MEADOWS, IL 60008

Signing Officer

Name
Margaret R Mcsweeney
Title
Secretary
Phone
8472415757
Signed
2025-04-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
S David Mcsweeney
Formed
2019
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Cbc Tax & Accounting Inc
Address
1843 HICKS RD STE A, ROLLING MEADOWS, IL 60008
Preparer
Bryan A Luczkiw CPA
Phone
8472415757
Supplemental Narrative

Additional Explanations

Pt VI, Line 2

“David McSweeney and Margaret McSweeney are husband and wife.”

Pt VI, Line 8B

“Minutes of Board meetings are maintained.”

Pt VI, Line 11B

“A draft copy of the Form 990 is reviewed by the Board prior to being filed.”

Raw XML Appendix242 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/Form990PartVIISectionAGrp/OtherCompensationAmt20
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IRS990/Form990PartVIISectionAGrp/PersonNm1Margaret McSweeney
IRS990/Form990PartVIISectionAGrp/PersonNm2Bryan Luczkiw
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt2Treasurer
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02019
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt03
IRS990/GrantAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt00
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt03
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/IntangibleAssetsGrp/BOYAmt04777
IRS990/IntangibleAssetsGrp/EOYAmt04332
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0IL
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MiscellaneousRevenueGrp/ExclusionAmt00
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt00
IRS990/MiscellaneousRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/NetAssetsOrFundBalancesBOYAmt06304
IRS990/NetAssetsOrFundBalancesEOYAmt05292
IRS990/NetUnrelatedBusTxblIncmAmt00
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IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/FundraisingAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0567
IRS990/OfficeExpensesGrp/ProgramServicesAmt00
IRS990/OfficeExpensesGrp/TotalAmt0567
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherRevenueTotalAmt00
IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0S DAVID MCSWEENEY
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt01111
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IRS990/PYRevenuesLessExpensesAmt0-1111
IRS990/PYTotalExpensesAmt01111
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IRS990/ReconcilationRevenueExpnssAmt0-1012
IRS990/RelatedEntityInd0false
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IRS990/ReportLandBuildingEquipmentInd0false
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IRS990/ReportProgramRelatedInvstInd0false
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IRS990/ScheduleBRequiredInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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IRS990/SchoolOperatingInd0false
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IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06304
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IRS990/TotalContributionsAmt00
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IRS990/TotalGrossUBIAmt00
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MARGARET R MCSWEENEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum08472415757
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-28
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ReturnHeader/Filer/BusinessNameControlTxt0CUTI
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ReturnHeader/PreparerPersonGrp/PhoneNum08472415757
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ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-05-01T09:13:15-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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