Midtown Educational Foundation
- Assets
- $6.1m
- Revenue
- $2.5m
- Investments
- $1.8m
- Employees
- 127
- Location
- Chicago, IL
- Founding
- 05/1986
- Data as of
- 05/2024
- EIN
- 36-3417278
Organization Overview
Midtown Educational Foundation is located in Chicago, IL. The organization was established in 1986. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 05/2024, Midtown Educational Foundation employed 127 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midtown Educational 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 05/2024, Midtown Educational Foundation generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.6%) each year. All expenses for the organization totaled $3.1m during the year ending 05/2024. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 5 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
MIDTOWN-METRO ACHIEVEMENT CENTERS GUIDES LOW-INCOME URBAN YOUTH IN CHICAGO ALONG PATHWAYS OF SUCCESS. OUR PROVEN ENRICHMENT PROGRAMS EMBRACE THE DIGNITY OF THE PERSON BY FOCUSING ON ACADEMIC EXCELLENCE, VIRTUE DEVELOPMENT, INDIVIDUAL ATTENTION, AND PARENTAL ENGAGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MIDTOWN/METRO ACHIEVEMENT PROGRAM (7TH-8TH) - MATH, SCIENCE, AND ENGLISH COURSES PREPARE STUDENTS TO ENTER A COLLEGE PREPARATORY HIGH SCHOOL, AND ULTIMATELY, COLLEGE. CHARACTER DEVELOPMENT IS STRONGLY EMPHASIZED THROUGH INDIVIDUAL ADVISING. STUDENTS ACQUIRE THE HABITS OF SUCCESSFUL PEOPLE OF GOOD CHARACTER.
PARENTING PROGRAM - THE CENTERS PROVIDED SEMINARS AND OTHER FORMS OF SUPPORT FOR PARENTS, SINCE PARENTAL LEADERSHIP IS KEY TO MIDTOWN-METRO ACHIEVEMENT CENTERS'S PHILOSOPHY.
COLLEGE ORIENTATION PROGRAM (9TH-12TH GRADE) - THE CENTERS HELP STUDENTS PREPARE FOR COLLEGE ENTRANCE EXAMS AND EXPLORE COLLEGE OPTIONS. STUDENTS ENGAGE IN ENRICHMENT ACTIVITIES SUCH AS CULTURAL FIELD TRIPS, COLLEGE TOURS AND SERVICE PROJECTS.
ONE-ON-ONE (4TH-6TH GRADE) - YOUNG PROFESSIONAL VOLUNTEERS ACT AS INDIVIDUAL TUTORS/MENTORS FOR STUDENTS. WEEKLY SESSIONS AIM TO ENCOURAGE GOOD ATTITUDES TOWARD LEARNING, ASSIST STUDENTS WITH HOMEWORK, PRESENT POSITIVE ROLE MODELS FOR STUDENTS AND DEVELOP IN STUDENTS THE STUDY HABITS ASSOCIATED WITH HIGH ACHIEVERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence Morris Chairman | OfficerTrustee | 5 | $0 |
John J Conroy Jr Director | Trustee | 2 | $0 |
Patricia Anderson Vice President | OfficerTrustee | 5 | $0 |
Richard M Caffarelli Jr Treasurer | OfficerTrustee | 5 | $0 |
Mary Presberg Secretary | OfficerTrustee | 5 | $0 |
Art Thelen Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $968,655 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $966,377 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,935,032 |
| Total Program Service Revenue | $117,225 |
| Investment income | $88,539 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $226,555 |
| Net Gain/Loss on Asset Sales | $136,881 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,516,251 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $135,543 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $101,750 |
| Compensation of current officers, directors, key employees. | $10,850 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,479,320 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $159,102 |
| Payroll taxes | $117,415 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,305 |
| Fees for services: Accounting | $126,809 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $207,182 |
| Advertising and promotion | $22,157 |
| Office expenses | $176,230 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $177,789 |
| Travel | $50,701 |
| 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 | $61,064 |
| Insurance | $124,024 |
| All other expenses | $0 |
| Total functional expenses | $3,114,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $240,624 |
| Savings and temporary cash investments | $254,320 |
| Pledges and grants receivable | $118,573 |
| Accounts receivable, net | $23,694 |
| 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 | $294,280 |
| Net Land, buildings, and equipment | $1,427,394 |
| Investments—publicly traded securities | $1,847,430 |
| Investments—other securities | $1,783,990 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $126,886 |
| Total assets | $6,117,191 |
| Accounts payable and accrued expenses | $35,074 |
| Grants payable | $0 |
| Deferred revenue | $351,694 |
| 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 | $103,520 |
| Total liabilities | $490,288 |
| Net assets without donor restrictions | $4,345,234 |
| Net assets with donor restrictions | $1,281,669 |
| 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 | $6,117,191 |