Midwest Theological Forum Inc
- Assets
- $9.7m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 12
- Location
- Downers Grove, IL
- Founding
- 06/1995
- Data as of
- 12/2022
- EIN
- 36-3953023
Organization Overview
Midwest Theological Forum Inc is located in Downers Grove, IL. The organization was established in 1995. According to its NTEE Classification (X22) the organization is classified as: Roman Catholic, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Midwest Theological Forum Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midwest Theological Forum 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 12/2022, Midwest Theological Forum Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (3.6%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PUBLICATION, TRANSLATION, AND DISTRIBUTION OF RELIGIOUS BOOKS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PUBLICATION, TRANSLATION, AND DISTRIBUTION OF RELIGIOUS BOOKS INCLUDING A HANDBOOK OF CANON LAW, SACREMENTAL REALISM, PRINER OF DIVINE REVELATIONS, DAILY ROMAN MISSAL, AND PRIESTLY CELIBACY TODAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Peter Armenio President | OfficerTrustee | 2 | $0 |
Edmundo Martinez Executive Director/treasur | OfficerTrustee | 40 | $91,131 |
Ralph Areste Member | Trustee | 2 | $0 |
Randal Powers Secretary | OfficerTrustee | 30 | $33,836 |
Jim Beecher Member | Trustee | 2 | $0 |
Jason Carver Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $125,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,868 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $133,868 |
| Total Program Service Revenue | $0 |
| Investment income | $106,628 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $5,574 |
| 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 | $1,085,002 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,331,422 |
| 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. | $124,967 |
| Compensation of current officers, directors, key employees. | $124,967 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $139,187 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $52,861 |
| Payroll taxes | $64,614 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,137 |
| Fees for services: Accounting | $2,994 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $88,218 |
| Office expenses | $51,413 |
| Information technology | $3,014 |
| Royalties | $56,138 |
| Occupancy | $87,492 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,769 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $55,235 |
| All other expenses | $11,793 |
| Total functional expenses | $1,107,794 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $834,076 |
| Savings and temporary cash investments | $6,792,341 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $112,483 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,943,173 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,682,073 |
| Accounts payable and accrued expenses | $192,652 |
| 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 | $192,652 |
| Net assets without donor restrictions | $9,489,421 |
| 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 | $9,682,073 |