Copernicus Foundation
- Assets
- $5.0m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 44
- Location
- Chicago, IL
- Founding
- 10/1972
- Data as of
- 12/2023
- EIN
- 23-7164993
Organization Overview
Copernicus Foundation is located in Chicago, IL. The organization was established in 1972. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2023, Copernicus Foundation employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Copernicus 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 12/2023, Copernicus Foundation generated $1.9m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $2.3m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE COPERNICUS FOUNDATION WAS CHARTED TO SERVE THE METROPOLITAN CHICAGO AREA AS A MAJOR CIVIC, CULTURAL, EDUCATIONAL, RECREATIONAL AND ENTERTAINMENT RESOURCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES ARTS AND PROGRAMMING SUCH AS FOREIGN AND ENGLISH LANGUAGE CLASSES, COMMUNITY INFORMATION, SEMINARS AND VINTAGE MOVIES AND PROVIDES A CIVIC CENTER FOR ETHNIC AND AMERICAN EXHIBITIONS AND ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mario Mikoda President | OfficerTrustee | 2 | $0 |
Robert Groszek Secretary | OfficerTrustee | 2 | $0 |
Hubert Cioromski Chairman Of The Board | OfficerTrustee | 2 | $0 |
Dr Benny Czisek Director | Trustee | 2 | $0 |
Agata Paleczny Director | Trustee | 2 | $0 |
Bogdan Bosak Vice President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $96,485 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $75,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,805 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $173,290 |
| Total Program Service Revenue | $1,599,664 |
| Investment income | $29,018 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $57,940 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,861,686 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $113,363 |
| 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 | $650,692 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $48,129 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $10,182 |
| Information technology | $10,286 |
| Royalties | $0 |
| Occupancy | $77,827 |
| Travel | $36,562 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $163,019 |
| Insurance | $95,232 |
| All other expenses | $369,757 |
| Total functional expenses | $2,308,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $291,672 |
| Savings and temporary cash investments | $1,454,590 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,169 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $41,500 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,907,446 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $304,317 |
| Total assets | $5,043,694 |
| Accounts payable and accrued expenses | $100,608 |
| Grants payable | $0 |
| Deferred revenue | $63,315 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $163,923 |
| Net assets without donor restrictions | $4,879,771 |
| 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 | $5,043,694 |