Illinois Restaurant Association Educational Foundation Inc
- Assets
- $1.3m
- Revenue
- $610.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 05/1984
- Data as of
- 12/2021
- EIN
- 36-3271510
Organization Overview
Illinois Restaurant Association Educational Foundation Inc is located in Chicago, IL. The organization was established in 1984. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Restaurant Association Educational Foundation Inc 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 12/2021, Illinois Restaurant Association Educational Foundation Inc generated $610.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $473.8k during the year ending 12/2021. While expenses have increased by 0.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
TO BUILD THE FUTURE HOSPITALITY INDUSTRY THROUGH CAREER EXPLORATION, WORK FORCE DEVELOPMENT AND SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SCHOLARSHIP ASSISTANCE AND TRAINING EXPERIENCES FOR WORTHY INDIVIDUALS WHO EVIDENCE AN INTEREST AND AMBITION TO STUDY OR TRAIN FOR A VOCATION IN FOOD HANDLING OR FOOD PROCESSING HOSPITALITY MANAGEMENT BUSINESS, AND TO INVESTIGATE AND DEVELOP IMPROVED FOOD PROGRAMS, SYSTEMS AND PROCEDURES FOR EMPLOYMENT OPPORTUNITIES IN THE FOOD SERVICE, FOOD HANDLING, FOOD PROCESSING AND HOSPITALITY MANAGEMENT BUSINESS.
TO SOLICIT AND RECEIVE GIFTS, GRANTS AND CONTRIBUTIONS AND ESTABLISH, FUND AND MAINTAIN FINANCIAL ASSISTANCE PROGRAMS FOR THE BENEFIT OF NEEDY EMPLOYEES OF ILLINOIS RESTAURANTS WHICH HAVE BEEN OR WILL BE ADVERSELY AFFECTED BY A DISASTER OR SUFFER MEDICAL OR OTHER PERSONAL HARDSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Caldwell Chairman | OfficerTrustee | 1 | $0 |
Sam Toia 2nd Vice Chairman | OfficerTrustee | 3 | $0 |
Doug Bradley 1st Vice Chairman | OfficerTrustee | 1 | $0 |
Adam Barrons Corporate Secretary | OfficerTrustee | 1 | $0 |
Rochelle Trotter Treasurer | OfficerTrustee | 1 | $0 |
Kristin Hodges Executive Director | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $100,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $388,532 |
| Noncash contributions included in lines 1a–1f | $14,753 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $488,532 |
| Total Program Service Revenue | $101,994 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $20,314 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $610,840 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $192,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $96,335 |
| Compensation of current officers, directors, key employees. | $22,429 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $59,418 |
| Pension plan accruals and contributions | $16 |
| Other employee benefits | $7,486 |
| Payroll taxes | $7,470 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15 |
| Fees for services: Accounting | $9,915 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,308 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,428 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,060 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,030 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $20,119 |
| Total functional expenses | $473,788 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $480,761 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $35,603 |
| 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 | $0 |
| Investments—publicly traded securities | $831,815 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,348,179 |
| Accounts payable and accrued expenses | $5,697 |
| Grants payable | $0 |
| Deferred revenue | $3,000 |
| 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 | $31,096 |
| Total liabilities | $39,793 |
| Net assets without donor restrictions | $940,574 |
| Net assets with donor restrictions | $367,812 |
| 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 | $1,348,179 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Illinois Restaurant Association Educational Foundation Inc has recieved totaling $36,657.
| Awarding Organization | Amount |
|---|---|
The National Restaurant Association Educational Foundation Washington, DC PURPOSE: ProStart Program | $36,557 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dubuque County Historical Society Dubuque, IA | $42,203,208 | $9,721,079 |
Jefferson National Parks Association Inc St Louis, MO | $9,104,174 | $5,372,825 |
Historic Hoosier Hills R C & D Inc Versailles, IN | $314,933 | $2,266,391 |
Friends Of The Chicago River Chicago, IL | $1,960,790 | $1,822,157 |
Language Conservancy Bloomington, IN | $1,366,684 | $2,095,112 |
Northern In Historical Society South Bend, IN | $1,839,984 | $1,875,609 |
Iowa Railroad Historical Society Boone, IA | $4,623,282 | $1,830,405 |
Landmarks Preservation Council Chicago, IL | $10,408,115 | $1,991,527 |
State Historical Society Of Missouri Columbia, MO | $7,318,381 | $1,450,178 |
American Truck Historical Society Kansas City, MO | $4,869,322 | $1,570,216 |
Two Rivers Historical Society Two Rivers, WI | $1,166,797 | $640,666 |
Naperville Heritage Society Naperville, IL | $6,253,015 | $1,941,330 |