Civic Intelligence

Great Lakes Academy Support Corporation

990 • Fiscal year 2023 • EIN 85-3256985

Jul 01, 2022 to Jun 30, 2023 • Filed on May 08, 2024

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

91st percentile

0.93x

Higher debt load relative to assets than 91% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

99th percentile

30.48x

Higher debt load relative to revenue than 99% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

9th percentile

-37%

Higher net margin than 9% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

32nd percentile

$132,701

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 29.2% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

27th percentile

-0.6%

Faster asset growth than 27% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

38th percentile

-0.0%

Faster revenue growth than 38% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$14,850,042

Down $84,698 (-0.6%) from 2022

Net Assets

Down

$988,154

Down $33,495 (-3.3%) from 2022

Liabilities

Down

$13,861,888

Down $51,203 (-0.4%) from 2022

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin9th percentile

Revenue

Down

$454,800

Down $75 (-0.0%) from 2022

Expenses

Up

$621,270

Up $152,263 (+32%) from 2022

Net Income

Down

-$166,470

Down $152,338 (-1078%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

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

2023

Assets$14,850,042
Liabilities$13,861,888
Net Assets$988,154
Open 2023 Filing

Operations Trend

Revenue Growth38th percentile

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

2023

Revenue$454,800
Expenses$621,270
Net Income-$166,470
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 8, 2024
Return Version
2022v5.0
Gross Receipts
$454,800
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$13,686,999$13,335,294▼ $351,705
Intangible Assets$521,116$426,368▼ $94,748
Cash and Non-Interest-Bearing Accounts$153,503$141,182▼ $12,321
Total Assets$14,934,740$14,850,042▼ $84,698
Other Assets Total$573,122$947,198▲ $374,076
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,755,599$13,861,888▲ $106,289
Accounts Payable and Accrued Expenses$157,492--
Total Liabilities$13,913,091$13,861,888▼ $51,203
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,021,649$988,154▼ $33,495
Total Net Assets Fund Balance$1,021,649$988,154▼ $33,495
Total Liabilities and Net Assets / Fund Balance$14,934,740$14,850,042▼ $84,698

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,046,562$669,955$13,716,517
Land$288,732-$288,732
Other Assets Org$478,698--
Compensation and Service Providers
Top Officer Pay32nd percentile

Employees

NameTitleOtherTotal
Michael MesterharmTreasurer$132,701$132,701
Katherine Myers-crumPresident$6,462$6,462

Board Members and Trustees

NameTitle
Melanie HarmonDirector
Steve KrausDirector
John WashingtonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$454,800
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-166,470
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$621,270
Total Fundraising Expense$13
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$401,809$44,645-$446,454
Interest$157,266$17,474-$174,740
Office Expenses$50$13$13$76
Total Functional Expenses$559,125$62,132$13$621,270
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
John Washington
Title
Secretary
Phone
7735303040
Signed
2024-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ebonie Durham
Formed
2020
Legal Domicile
Il
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
150

Preparer

Firm
Ostrow Reisin Berk & Abrams Ltd
Address
455 N CITYFRONT PLAZA DR SUITE 1600, CHICAGO, IL 60611
Preparer
James G Quaid
Phone
3126707444
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Unrealized gain on interest rate swap 132,975.”

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, 2023 and 2022.”

Raw XML Appendix380 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, 2023 AND 2022.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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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/ExplanationTxt4UNREALIZED GAIN ON INTEREST RATE SWAP 132,975.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
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IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0454800
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0LEASE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0GREAT LAKES ACADEMY INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0J
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IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt014850042
IRS990/TotalAssetsGrp/BOYAmt014934740
IRS990/TotalAssetsGrp/EOYAmt014850042
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt013
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt062132
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0559125
IRS990/TotalFunctionalExpensesGrp/TotalAmt0621270
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013913091
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IRS990/TotalOtherCompensationAmt06807
IRS990/TotalProgramServiceExpensesAmt0559125
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IRS990/WebsiteAddressTxt0WWW.GLACHICAGO.ORG
IRS990/WhistleblowerPolicyInd01
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN WASHINGTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum07735303040
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-08
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ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0GREA
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0362938874
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0OSTROW REISIN BERK & ABRAMS LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0455 N CITYFRONT PLAZA DR SUITE 1600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHICAGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060611
ReturnHeader/PreparerPersonGrp/PhoneNum03126707444
ReturnHeader/PreparerPersonGrp/PreparationDt02024-04-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES G QUAID
ReturnHeader/ReturnTs02024-05-13T15:25:49-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JOHN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WASHINGTON
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,850,042
Liabilities
$13,861,888
Net assets
$988,154
Revenue
$454,800
Expenses
$621,270
Net income
-$166,470
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