Civic Intelligence

Great Lakes Academy Support Corporation

990 • Fiscal year 2021 • EIN 85-3256985

Sep 25, 2020 to Jun 30, 2021 • Filed on May 13, 2022

Organization ProfileWWW.GLACHICAGO.ORG
8401 South SaginawChicago, IL 60617

(773) 530-3040

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.95x

Higher debt load relative to assets than 92% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

100th percentile

2130.47x

Higher debt load relative to revenue than 100% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

1st percentile

-30008%

Higher net margin than 1% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

52nd percentile

$177,580

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 2711.6% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

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

Source year 2021

Revenue Growth

Score unavailable

No value available

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

Source year 2021

Balance Sheet
Liabilities / Assets92nd percentile

Assets

$14,642,533

No earlier filing loaded for comparison.

Net Assets

$690,059

No earlier filing loaded for comparison.

Liabilities

$13,952,474

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

$6,549

No earlier filing loaded for comparison.

Expenses

$1,971,802

No earlier filing loaded for comparison.

Net Income

-$1,965,253

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.

$15M$10M$5.0M$0Assets 2021: $14,642,533Liabilities 2021: $13,952,474Net Assets 2021: $690,0592021Assets 2022: $14,934,740Liabilities 2022: $13,913,091Net Assets 2022: $1,021,6492022Assets 2023: $14,850,042Liabilities 2023: $13,861,888Net Assets 2023: $988,1542023Assets 2024: $14,489,518Liabilities 2024: $13,937,211Net Assets 2024: $552,3072024

Highlighted filing

2021

Assets$14,642,533
Liabilities$13,952,474
Net Assets$690,059
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2021: $6,549Expenses 2021: $1,971,802Net Income 2021: -$1,965,2532021Revenue 2022: $454,875Expenses 2022: $469,007Net Income 2022: -$14,1322022Revenue 2023: $454,800Expenses 2023: $621,270Net Income 2023: -$166,4702023Revenue 2024: $454,800Expenses 2024: $777,934Net Income 2024: -$323,1342024

Highlighted filing

2021

Revenue$6,549
Expenses$1,971,802
Net Income-$1,965,253
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Sep 25, 2020 to Jun 30, 2021
Signed
May 13, 2022
Return Version
2020v4.2
Gross Receipts
$6,549
Mission and Program Overview

Mission

To perform the functions of, and/or carry out the purposes of great lakes academy inc

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$9,338,620▲ $9,338,620
Cash and Non-Interest-Bearing Accounts-$4,626,919-
Intangible Assets-$615,865-
Total Assets$0$14,642,533▲ $14,642,533
Other Assets Total$0$61,129▲ $61,129
Liabilities
Mortgage Notes Payable Secured by Investment Property-$9,800,000-
Accounts Payable and Accrued Expenses-$4,152,474-
Total Liabilities$0$13,952,474▲ $13,952,474
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$690,059-
Total Net Assets Fund Balance$0$690,059▲ $690,059
Total Liabilities and Net Assets / Fund Balance$0$14,642,533▲ $14,642,533

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$8,206,697-$8,206,697
Buildings$843,190$24,099$867,289
Land$288,733-$288,733
Compensation and Service Providers
Top Officer Pay52nd percentile

Employees

NameTitleOtherTotal
Michael MesterharmTreasurer$105,826$105,826

Board Members and Trustees

NameTitle
Katherine Myers-crumPresident
Melanie HarmonDirector
Steve KrausDirector
John WashingtonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,000
Investment Income
$549
Other Revenue
$0
Change in Net Assets
$-1,965,253
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,971,802
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
Other Expenses-$1,900,912-$1,900,912
Depreciation Depletion-$58,493-$58,493
Office Expenses-$12,397-$12,397
Total Functional Expenses$0$1,971,802$0$1,971,802
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“There are no committees that have been created with the authority to act on behalf of the governing body.”

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

“Form 990 is presented to the board of directors. Board members review and provide comments and feedback regarding the document. The president then approves submission of form 990 assuming all changes (if any) are made. A final version of form 990 is provided to all board members prior to filing.”

Form 990, Part VI, Section B, Line 12C

“All board members sign a conflict of interest policy and get training annually on the policy. The staff signs a handbook that includes a conflict of interest policy.”

Form 990, Part VI, Section C, Line 19

“All documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Great Lakes Academy Support
EIN
85-3256985
Phone
7735303040
Address
8401 SOUTH SAGINAW, CHICAGO, IL 60617

Signing Officer

Name
Michael Mesterharm
Title
Treasurer
Phone
7735303040
Signed
2022-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katherine Myers-crum
Formed
2020
Legal Domicile
Il
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Ostrow Reisin Berk & Abrams Ltd
Address
455 N CITYFRONT PLAZA DR SUITE 1500, CHICAGO, IL 60611
Preparer
James G Quaid
Phone
3126707444
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Asset transfer from great lakes academy inc 2,655,312.”

Financial Statement Notes

PART X, LINE 2:

“Support corp is a tax-exempt organization as described in section 501(c)(3) of the code and is exempt from federal income taxes on related income pursuant to section 501(a) of the code. Support corp is a type i supporting organization within the meaning of the code. Management has determined that the school was not required to record a liability related to uncertain tax positions as of june 30, 2021.”

Raw XML Appendix379 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SUPPORT CORP IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. SUPPORT CORP IS A TYPE I SUPPORTING ORGANIZATION WITHIN THE MEANING OF THE CODE. MANAGEMENT HAS DETERMINED THAT THE SCHOOL WAS NOT REQUIRED TO RECORD A LIABILITY RELATED TO UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2021.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO COMMITTEES THAT HAVE BEEN CREATED WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS. BOARD MEMBERS REVIEW AND PROVIDE COMMENTS AND FEEDBACK REGARDING THE DOCUMENT. THE PRESIDENT THEN APPROVES SUBMISSION OF FORM 990 ASSUMING ALL CHANGES (IF ANY) ARE MADE. A FINAL VERSION OF FORM 990 IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL BOARD MEMBERS SIGN A CONFLICT OF INTEREST POLICY AND GET TRAINING ANNUALLY ON THE POLICY. THE STAFF SIGNS A HANDBOOK THAT INCLUDES A CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ASSET TRANSFER FROM GREAT LAKES ACADEMY INC 2,655,312.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0CHICAGO
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd01
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IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt014642533
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt014642533
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01971802
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01971802
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06549
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IRS990/WebsiteAddressTxt0WWW.GLACHICAGO.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL MESTERHARM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07735303040
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-13
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ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0GREA
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ReturnHeader/Filer/PhoneNum07735303040
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0362938874
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0OSTROW REISIN BERK & ABRAMS LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0455 N CITYFRONT PLAZA DR SUITE 1500
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHICAGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060611
ReturnHeader/PreparerPersonGrp/PhoneNum03126707444
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES G QUAID
ReturnHeader/ReturnTs02022-05-16T12:08:01-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MICHAEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MESTERHARM
ReturnHeader/TaxPeriodBeginDt02020-09-25
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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Filings

Displayed year

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

Open filing
Assets
$14,642,533
Liabilities
$13,952,474
Net assets
$690,059
Revenue
$6,549
Expenses
$1,971,802
Net income
-$1,965,253
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$14.5$13.9$0.55$0.45$0.78$0.32
2023Detailed filing. Detailed filing data is available for this year.$14.9$13.9$0.99$0.45$0.62$0.17
2022Detailed filing. Detailed filing data is available for this year.$14.9$13.9$1.02$0.45$0.47$0.01
2021Detailed filing. Detailed filing data is available for this year.$14.6$14.0$0.69$0.01$1.97$1.97