Lake County Bar Foundation
- Assets
- $1.4m
- Revenue
- $95.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Waukegan, IL
- Founding
- 06/1972
- Data as of
- 06/2021
- EIN
- 23-7094399
Organization Overview
Lake County Bar Foundation is located in Waukegan, IL. The organization was established in 1972. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake County Bar Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Lake County Bar Foundation generated $95.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (11.3%) each year. All expenses for the organization totaled $112.2k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION WAS ESTABLISHED IN 1960 TO PROMOTE THE EDUCATION OF LAWYERS AND ADVANCE THE SCIENCE OF JURISPRUDENCE. THE PURPOSES OF THE FOUNDATION ARE: (A) PROMOTING THE CHARITABLE, EDUCATIONAL, SCIENTIFIC AND LITERARY MISSION OF THE LAKE COUNTY BAR ASSOCIATION; (B) IMPROVING AND FACILITATING THE ADMINISTRATION OF JUSTICE; (C) PROMOTING THE STUDY AND RESEARCH OF LAW, THE DIFFUSION OF LEGAL KNOWLEDGE AND THE CONTINUING EDUCATION OF LAWYERS; (D) PUBLISHING AND DISTRIBUTING ADDRESSES, REPORTS, TREATISES AND OTHER LITERARY WORKS ON LEGAL SUBJECTS; (E) ACQUIRING PRESERVING AND EXHIBITING RARE BOOKS AND DOCUMENTS, OBJECTS OF ART, AND ITEMS OF CULTURAL OR HISTORICAL INTEREST TO THE LAKE COUNTY COMMUNITY AND/OR HAVING LEGAL SIGNIFICANCE OR BEARING ON THE ADMINISTRATION OF JUSTICE; (F) PROVIDING FINANCIAL ASSISTANCE TO LAKE COUNTY BAR ASSOCIATION (THE ASSOCIATION) ATTORNEY MEMBERS IN NEED AS DETERMINED SOLELY AT THE DISCRETION OF THE TRUSTEES OF THE FOUNDATION (THE TRUSTEES); (G) PURCHASING, O
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND DONATIONS TO THIRD PARTIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Berman Past President | OfficerTrustee | 1 | $0 |
Carey Schiever Vice President | OfficerTrustee | 1 | $0 |
Joann Fratiani Secretary | OfficerTrustee | 1 | $0 |
Perry Smith Jr Treasurer | OfficerTrustee | 1 | $0 |
Douglas Dorando Trustee | Trustee | 1 | $0 |
Melanie Rummel Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,112 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,112 |
| Total Program Service Revenue | $0 |
| Investment income | $1,210 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $45,054 |
| Net Gain/Loss on Asset Sales | $715 |
| Net Income from Fundraising Events | $15,333 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $95,424 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,500 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,030 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $40 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,165 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,177 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,818 |
| Insurance | $4,054 |
| All other expenses | $0 |
| Total functional expenses | $112,228 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,828 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $28,600 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,078,654 |
| Investments—publicly traded securities | $48,465 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,208 |
| Total assets | $1,357,755 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $11,140 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $130,072 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $261,374 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $402,586 |
| Net assets without donor restrictions | $955,169 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,357,755 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lake County Bar Foundation has recieved totaling $17,338.
| Awarding Organization | Amount |
|---|---|
Heal Team 6 Foundation Green Oaks, IL PURPOSE: General Operating Grant | $17,338 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kansas City University Kansas City, MO | $396,275,959 | $114,344,236 |
Des Moines University Osteopathic Medical Center Des Moines, IA | $450,267,375 | $87,558,866 |
Palmer College Foundation Davenport, IA | $257,383,249 | $91,492,236 |
Accreditation Council For Graduate Medical Education Chicago, IL | $103,044,710 | $71,823,147 |
University Of Health Sciences And Pharmacy In St Louis Saint Louis, MO | $314,379,266 | $75,273,875 |
Asbury Theological Seminary Wilmore, KY | $333,796,449 | $52,800,131 |
Illinois College Of Optometry Chicago, IL | $110,244,360 | $41,438,897 |
Logan University Chesterfield, MO | $101,664,851 | $38,500,877 |
Krell Institute Inc Ames, IA | $2,185,280 | $14,305,955 |
Toyota Technological Institute At Chicago Chicago, IL | $302,171,047 | $22,569,767 |
National Center For Teacher Residencies Inc Chicago, IL | $5,406,714 | $10,603,548 |
Lake Forest Graduate School Of Management Lake Forest, IL | $18,989,576 | $9,582,836 |