Chicago Section Of Food Technologists
- Assets
- $594.4k
- Revenue
- $302.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Lombard, IL
- Founding
- 06/1944
- Data as of
- 08/2023
- EIN
- 36-6112616
Organization Overview
Chicago Section Of Food Technologists is located in Lombard, IL. The organization was established in 1944. According to its NTEE Classification (K99) the organization is classified as: Food, Agriculture & Nutrition N.E.C., under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Section Of Food Technologists is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 08/2023, Chicago Section Of Food Technologists generated $302.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $235.9k during the year ending 08/2023. 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
CULTIVATING A COMMUNITY WHERE PROFESSIONALS AND STUDENTS ASPIRE TO ENRICH THE CHICAGOLAND FOOD INDUSTRY THROUGH COLLABORATION, EDUCATION, AND NETWORKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD INDUSTRY SCHOLARSHIPS AND AWARDS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Dejong Director | Trustee | 1 | $0 |
Britt Burton Freeman Director | Trustee | 1 | $0 |
David Condon Treasurer | OfficerTrustee | 1 | $0 |
Debbie Schodrof Director | Trustee | 1 | $0 |
Frank Sabella Director | Trustee | 1 | $0 |
Gina Oberoi Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $34,480 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $43,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $77,980 |
| Total Program Service Revenue | $0 |
| Investment income | $1,048 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $223,409 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $302,437 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,781 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $149,979 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,118 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,831 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $12,453 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $328 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,714 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,930 |
| All other expenses | $14,773 |
| Total functional expenses | $235,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $333,042 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,073 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $248,306 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $594,421 |
| Accounts payable and accrued expenses | $603 |
| Grants payable | $0 |
| Deferred revenue | $349,360 |
| 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 | $349,963 |
| Net assets without donor restrictions | $244,458 |
| 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 | $594,421 |
Grants Awarded
Over the last fiscal year, Chicago Section Of Food Technologists has awarded $82,360 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CHICAGOLAND FOOD SCIENCE FOUN PURPOSE: EDUCATION | $76,860 |
IFT SCHOLARSHIP PURPOSE: EDUCATION | $5,500 |