Illinois Network Of Charter Schools in Chicago, Illinois (IL)

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Illinois Network Of Charter Schools
Employer Identification Number (EIN)141862409
Name of OrganizationIllinois Network Of Charter Schools
Address205 W Randolph St Ste 1340, Chicago, IL 60606-1814
SubsectionEducational Organization
Ruling Date03/2004
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$3,286,057
Amount of Income$2,516,467
Form 990 Revenue Amount$2,516,467
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Education (Not Elsewhere Classified)


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Financial snapshot ($)

Revenue for 2011

Functional expenses for 2011

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$2,516,467
Contributions, Gifts, Grants and Other Similar Amounts$2,336,385
Program Service Revenue$139,680
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$3,126
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$37,276
Statement of Functional Expenses (for 2011)
Total functional expenses$1,654,009
Compensation of current officers, directors, trustees, and key employees$321,708
Other salaries and wages$462,680
Payroll taxes$56,267
Professional fundraising services$0
Other$813,354
Balance Sheet (for 2011)
Total assets$3,286,057
Total liabilities$41,015
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$41,015
Total net assets or fund balances$3,245,042
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Support Schedule for Organizations Described in Section 509(a)(2) (for 2011)
2007 - 2011 Total
Total support$9,776,499
Gifts, grants, contributions, and membership fees received$9,368,988
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$331,354
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$62,271
Other$13,886
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