Ladder Up
- Assets
- $3.8m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 29
- Location
- Chicago, IL
- Founding
- 07/1996
- Data as of
- 06/2022
- EIN
- 36-4070692
Organization Overview
Ladder Up is located in Chicago, IL. The organization was established in 1996. 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 06/2022, Ladder Up employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ladder Up 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 06/2022, Ladder Up generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $2.4m during the year ending 06/2022. While expenses have increased by 13.9% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OFFERS FREE TAX PREPARATION, FINANCIAL AID AND FINANCIAL EDUCATION SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX ASSISTANCE PROGRAM:LADDER UP OPERATES ONE OF THE LARGEST AND OLDEST STATE-WIDE VOLUNTEER INCOME TAX ASSISTANCE PROGRAMS OF ITS KIND, OFFERING BOTH IN-PERSON AND DIGITAL SERVICES TO OVER 15,000 INDIVIDUALS ACROSS ILLINOIS. LADDER UP PROVIDES FAMILIES WITH FREE, HIGH-QUALITY TAX PREPARATION AND AN ALTERNATIVE TO PAID TAX PREPARERS. LADDER UP, AS PART OF ITS CONTINUED RESPONSE TO THE PANDEMIC, OFFERS MULTIPLE TYPES OF SERVICES AS WELL AS MULTIPLE SAFETY PROTOCOLS TO ENSURE THE SAFETY OF ITS CLIENTS AND VOLUNTEERS.
LOW-INCOME TAX CLINIC:LADDER UP PROVIDES FREE, HIGH QUALITY PROFESSIONAL REPRESSENTATION TO LOW-INCOME TAX PAYERS FACING AN IRS OR IDOR CONTROVERSY. THROUGH ITS OFFICES, LADDER UP OFFERS EDUCATIONAL OUTREACH ON THE EARNED INCOME TAX CREDIT, STIMULUS PAYMENTS, ADVANCE CHILD TAX CREDITS, TAXPAYER RIGHTS, RESPONSIBILITIES AND COLLECTION ALTERNATIVES.
FINANCIAL CAPABILITY PROGRAM:LADDER UP PROVIDES YEAR-ROUND WORKSHOPS, COORDINATES SAVINGS CAMPAIGNS, AND OFFERS FINANCIAL COACHING TO HELP CLIENTS SET FINANCIAL GOALS AND MANAGE MAJOR LIFE FINANCIAL EVENTS. IN ADDITION TO THIS, LADDER UP HIGHLY VALUES AND SUPPORTS ITS FREE APPLICATION TRAINING FOR FEDERAL STUDENT AID (FAFSA) AND COMPLETION WORKSHOPS AT HIGH SCHOOLS FOR SCHOOLS AND COMMUNITY PARTNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert M Burke Board Chairman | OfficerTrustee | 1 | $0 |
John Chandler Secretary | OfficerTrustee | 1 | $0 |
Jamie O'brien Director | Trustee | 1 | $0 |
Mark Sneider Director | Trustee | 1 | $0 |
Sr Mary Paul Mccaughey Director | Trustee | 1 | $0 |
Mercedes Williams Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Keystone Strategy Llc Consulting To Design Virtual And Covid-a | 6/29/21 | $292,500 |
Kmk Ventures Private Limited Design And Assistance In Tax Preparation | 6/29/21 | $173,755 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $126,301 |
| Related organizations | $0 |
| Government grants | $1,962,653 |
| All other contributions, gifts, grants, and similar amounts not included above | $675,686 |
| Noncash contributions included in lines 1a–1f | $63,443 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,764,640 |
| Total Program Service Revenue | $0 |
| Investment income | $61,002 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,907 |
| Net Income from Fundraising Events | $75,974 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,908,523 |
| 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. | $223,938 |
| Compensation of current officers, directors, key employees. | $67,357 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,053,495 |
| Pension plan accruals and contributions | $34,029 |
| Other employee benefits | $130,428 |
| Payroll taxes | $93,499 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,325 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,528 |
| Fees for services: Other | $379,616 |
| Advertising and promotion | $0 |
| Office expenses | $257,408 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $37,220 |
| Travel | $10,992 |
| 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 | $154,006 |
| Insurance | $0 |
| All other expenses | $18,459 |
| Total functional expenses | $2,417,943 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,859 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $680,627 |
| 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 | $23,080 |
| Net Land, buildings, and equipment | $291,807 |
| Investments—publicly traded securities | $2,628,310 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,814,683 |
| Accounts payable and accrued expenses | $104,232 |
| 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 | $19,019 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $123,251 |
| Net assets without donor restrictions | $3,661,432 |
| Net assets with donor restrictions | $30,000 |
| 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 | $3,814,683 |