Illinois Business Education Association
- Assets
- $1.2m
- Revenue
- $110.2k
- Investments
- $1.1m
- Employees
- 0
- Location
- Joliet, IL
- Founding
- 11/2001
- Data as of
- 06/2022
- EIN
- 37-6057589
Organization Overview
Illinois Business Education Association is located in Joliet, IL. The organization was established in 2001. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Business Education Association 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, Illinois Business Education Association generated $110.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $38.2k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING THE BUSINESS EDUCATION PROFESSION AND PROVIDING THE ENVIRONMENT AND ENCOURAGEMENT TO IMPROVE PROFESSIONAL ENDEAVORS THROUGH CONFERENCES, PUBLICATIONS AND SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Hutchinson Executive Di | 5 | $792 | |
Darcy Jeffries Treasurer | 5 | $300 | |
David Calkins Webmaster | 5 | $300 | |
Carol Brooks Immediate Pa | 5 | $0 | |
Susan Timm President | 5 | $0 | |
Jodee Werkheiser Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $83,657 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,064 |
| Capital Gain Net Income | $7,064 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $19,440 |
| Total Revenue | $110,161 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,392 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $143 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $287 |
| Printing and publications | $0 |
| Other expenses | $23,572 |
| Total operating and administrative expenses | $28,229 |
| Contributions, gifts, grants paid | $10,000 |
| Total expenses and disbursements | $38,229 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $110,784 |
| Savings and temporary cash investments | $100 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,200,179 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Illinois Business Education Association has awarded $10,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MARY ANN CATT PURPOSE: SCHOLARSHIP | $5,000 |
CLAIRE DUEWER PURPOSE: SCHOLARSHIP | $2,500 |
KEISHA COLEMAN PURPOSE: SCHOLARSHIP | $2,500 |
Endowment Analysis
| Beg. Balance | $932,588 |
| Earnings | $68,815 |
| Admin Expense | $8,831 |
| Grants | $8,700 |
| Ending Balance | $983,872 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Network Of Executive Women Inc Chicago, IL | $6,845,772 | $11,079,191 |
Accreditation Council For Continuing Medical Education Chicago, IL | $14,011,011 | $9,679,361 |
Council For Adult And Experiental Learning Indianapolis, IN | $4,495,606 | $4,303,081 |
American School Of Correspondence Lansing, IL | $11,965,469 | $5,386,399 |
Society For Academic Emergency Medicine Des Plaines, IL | $10,341,301 | $6,329,618 |
Helen Miller-Seiu Member Education And Training Center Chicago, IL | $1,177,324 | $3,731,145 |
Kelley Executive Education Foundation Inc Bloomington, IN | $1,125,624 | $3,371,150 |
Literacy Kansas City Kansas City, MO | $1,783,046 | $2,841,106 |
Peo Program For Continuing Education Des Moines, IA | $11,022,579 | $3,626,880 |
Open Books Ltd Chicago, IL | $1,632,134 | $2,509,213 |
Business And Career Services Incorporated Wheeling, IL | $506,283 | $2,407,524 |
Computer Science Teachers Association Llc Chicago, IL | $2,790,365 | $2,974,365 |