American Quality Schools Corporation
- Assets
- $802.7k
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 40
- Location
- Downers Grove, IL
- Founding
- 10/2008
- Data as of
- 06/2022
- EIN
- 36-4298732
Organization Overview
American Quality Schools Corporation is located in Downers Grove, IL. The organization was established in 2008. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, American Quality Schools Corporation employed 40 individuals. This organization is the central organization for a national or regional group of organizations. American Quality Schools Corporation 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, American Quality Schools Corporation generated $3.0m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $3.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZATION, MANAGEMENT AND OPERATION OF CHARTER SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION, MANAGEMENT AND OPERATION OF CHARTER SCHOOLS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Bakalis President | OfficerTrustee | 1 | $0 |
Tom Pekras Board Member | Trustee | 1 | $0 |
Pam Paul Board Member | Trustee | 1 | $0 |
Marlene Golembo Secretary | OfficerTrustee | 1 | $0 |
George Nassos Board Member | Trustee | 1 | $0 |
Terri Vanderjack Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,955,336 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,075 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,962,411 |
| Total Program Service Revenue | $18,262 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| 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 | $2,980,673 |
| 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 | $1,344,510 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $321,193 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,369 |
| Fees for services: Accounting | $108,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $214,207 |
| Advertising and promotion | $31,968 |
| Office expenses | $46,055 |
| Information technology | $66,892 |
| Royalties | $0 |
| Occupancy | $363,520 |
| Travel | $2,385 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $32,725 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $81,975 |
| Insurance | $33,155 |
| All other expenses | $0 |
| Total functional expenses | $3,095,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $265,215 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $344,777 |
| 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 | $13,866 |
| Net Land, buildings, and equipment | $153,393 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,459 |
| Total assets | $802,710 |
| Accounts payable and accrued expenses | $406,377 |
| 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 | $200,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $419,041 |
| Other liabilities | $144,000 |
| Total liabilities | $1,169,418 |
| Net assets without donor restrictions | -$366,708 |
| 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 | $802,710 |