Asm Qalicb Inc
- Assets
- $10.5m
- Revenue
- $314.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 04/2018
- Data as of
- 06/2021
- EIN
- 37-1844801
Organization Overview
Asm Qalicb Inc is located in Chicago, IL. The organization was established in 2018. According to its NTEE Classification (O02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asm Qalicb Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 06/2021, Asm Qalicb Inc generated $314.3k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 33.0% each year . All expenses for the organization totaled $333.5k during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ASM QALICB, INC. HOLDS TITLE TO THE LUTZ CENTER IN SUPPORT OF AFTER SCHOOL MATTERS' (ASM) MISSION OF PROVIDING CHICAGO PUBLIC HIGH SCHOOL TEENS OPPORTUNITIES TO EXPLORE AND DEVELOP THEIR TALENTS, WHILE GAINING CRITICAL SKILLS FOR WORK, COLLEGE AND BEYOND. THE LUTZ FAMILY CENTER IS A KEY COMPONENT OF ASM'S MISSION. ASM QALICB, INC. LEASES THE LUTZ CENTER TO ASM WHICH OPERATES THE PROPERTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASM QALICB, INC. WAS FORMED IN CONNECTION WITH THE DEVELOPMENT, CONSTRUCTION, AND PLACING INTO SERVICE OF A YOUTH CENTER IN AN UNDERSERVED NEIGHBORHOOD IN CHICAGO, ILLINOIS. ASM QALICB, INC. IS A QUALIFIED ACTIVE LOW-INCOME COMMUNITY BUSINESS AND THEREBY QUALIFIED FOR FEDERAL NEW MARKETS TAX CREDITS THAT WERE USED TO HELP FINANCE THE RENOVATION OF THE LUTZ CENTER. ASM QALICB, INC. OWNS THE YOUTH CENTER AND HAS ENTERED INTO A LEASE AGREEMENT WITH AFTER SCHOOL MATTERS, INC., A 501(C)(3), TO OPERATE THE YOUTH CENTER.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mischelle Causey-Drake Secretary | Officer | 1 | $0 |
James Welch Chair | Trustee | 1 | $0 |
Robert Wislow Treasurer | Trustee | 1 | $0 |
Jennifer Farrington Vice Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $314,287 |
| 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 | $314,287 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $88,307 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $245,236 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $333,543 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $556,668 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $887,854 |
| 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 | $0 |
| Net Land, buildings, and equipment | $9,079,066 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,523,588 |
| Accounts payable and accrued expenses | $6,766 |
| 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 | $5,819,192 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,783,688 |
| Total liabilities | $10,609,646 |
| Net assets without donor restrictions | -$86,058 |
| 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 | $10,523,588 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Childrens Service Society Of Wisconsin Milwaukee, WI | $14,842,492 | $52,689,680 |
Youth For Tomorrow New Life Center Inc Bristow, VA | $9,215,138 | $38,263,991 |
Alternative Education Academy Akron, OH | $8,266,600 | $36,695,816 |
Boy Scouts Of America Omaha, NE | $1,847,268 | $5,902,043 |
Young Americas Foundation Reston, VA | $108,030,545 | $39,445,693 |
Keybank Foundation Cleveland, OH | $2,694,800 | $14,938,046 |
Boys And Girls Club Of Greater Milwaukee Inc Milwaukee, WI | $63,804,906 | $30,391,862 |
New Life Centers Of Chicagoland Nfp Chicago, IL | $3,381,742 | $26,728,627 |
Chattanooga C A R E S Inc Chattanooga, TN | $10,951,449 | $26,744,749 |
Onegoal Chicago, IL | $47,619,329 | $26,464,415 |
Life360 Community Services Springfield, MO | $10,006,049 | $26,351,423 |
Ideastream Cleveland, OH | $47,798,321 | $23,794,645 |