Norwood Life Care Foundation
- Assets
- $19.2m
- Revenue
- $840.6k
- Investments
- $0.0
- Employees
- 4
- Location
- Chicago, IL
- Founding
- 10/1988
- Data as of
- 12/2023
- EIN
- 36-3558526
Organization Overview
Norwood Life Care Foundation is located in Chicago, IL. The organization was established in 1988. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 12/2023, Norwood Life Care Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norwood Life Care 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, Norwood Life Care Foundation generated $840.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.6% each year . All expenses for the organization totaled $393.0k 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 PURPOSE OF THE NORWOOD LIFE CARE FOUNDATION IS TO MANAGE FUNDRAISING AND INVESTMENTS FOR RELATED NOT FOR PROFIT ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NORWOOD LIFE CARE FOUNDATION CONDUCTED FUNDRAISING ACTIVITIES TO SUPPORT PROGRAMS AT ITS RELATED NOT FOR PROFIT ENTITIES. THE PROGRAMS SUPPORTED INCLUDE: SPIRITUAL SERVICES, PURCHASE OF EQUIPMENT FOR PROGRAM ACTIVITIES, AND THE NORWOOD PARK SATELLITE SENIORS CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Hoyem Director | Trustee | 1 | $0 |
Doris Pape Secretary/ Treasurer | OfficerTrustee | 1 | $0 |
Ingrid Forsberg Director | Trustee | 1 | $0 |
Kim Kidd Director | Trustee | 1 | $0 |
Lars Ohrstrom Director | Trustee | 1 | $0 |
George Silca Vice Chairperson | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $7,670 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $148,764 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $156,434 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $477,972 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,425 |
| Net Income from Fundraising Events | -$2,425 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $207,229 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $840,635 |
| 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 | $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 | $169,836 |
| Pension plan accruals and contributions | $6,776 |
| Other employee benefits | $17,374 |
| Payroll taxes | $12,190 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,095 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,351 |
| Fees for services: Other | $48,939 |
| Advertising and promotion | $2,717 |
| Office expenses | $12,244 |
| Information technology | $7,300 |
| Royalties | $0 |
| Occupancy | $9,998 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $435 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,147 |
| Insurance | $6,514 |
| All other expenses | $26,959 |
| Total functional expenses | $392,996 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $156,744 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,552,679 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,230 |
| Net Land, buildings, and equipment | $8,709 |
| Investments—publicly traded securities | $4,070,345 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,412,019 |
| Total assets | $19,210,726 |
| Accounts payable and accrued expenses | $21,400 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $21,400 |
| Net assets without donor restrictions | $19,189,326 |
| 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 | $19,210,726 |