Iris Foundation
- Assets
- $8.2k
- Revenue
- $88.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 12/2015
- Data as of
- 12/2020
- EIN
- 47-4623746
Organization Overview
Iris Foundation is located in Chicago, IL. The organization was established in 2015. According to its NTEE Classification (B90) the organization is classified as: Educational Services, 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. Iris Foundation 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 12/2020, Iris Foundation generated $88.0k in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $80.3k during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE IRIS FOUNDATION (THE "FOUNDATION") EXISTS TO SUPPORT THE APPLICATION, ENGAGEMENT AND DISSEMINATION OF "FIRST PRINCIPLES THINKING" IN SCIENCE, EDUCATION, COMMUNITY, DEVELOPMENT AND CIVIC ENGAGEMENT.THE FOUNDATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, INCLUDING THE ADVANCEMENT OF EDUCATION, SCIENCE AND SOCIAL SCIENCE BY CONDUCTING LABS, CASE STUDIES, DISCUSSION GROUPS, FORUMS, PANELS, LECTURS, AND SIMILAR PROGRAMS.THE FOUNDATION WILL OFFER ITS FACILITIES AND RESOURCES TO INDIVIDUALS AND ORGANIZATIONS, INCLUDING STUDENTS, PROFESSORS, AND UNIVERSITIES, INITIALLY WITH A FOCUS ON THOSE STUDENTS, PROFESSORS, AND UNIVERSITIES LOCATED WITHIN ILLINOIS INCLUDING, WITHOUT LIMITAITON, THE UNIVERSITY OF ILLINOIS AT CHAMPAIGN-URBANA, TO SUPPORT LABS AND CASE STUDIES TO TEST CONCEPTS AND GENERATE DATA TO EFFECTUATE SOCIAL AND COMMUNITY BENEFITS. THE RESULTS OF THESE LABS WILL BE AVAILABLE
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN PURSUIT OF THE FOUNDATION MISSION TO SUPPORT "FIRST PRINCIPLES THINKING" IN SCIENCE, EDUCATION, COMMUNITY DEVELOPMENT AND CIVIC ENGAGEMENT, IRIS FOUNDATION DEVELOPS CORE ORGANIZATIONAL TENETS AND METHODOLOGY FOR EDUCATIONAL ON-BOARDING AND PROGRAM ACTUALIZATION. THE FOUNDATION ALSO DESIGNS AND STABILIZES THE ENVIRONMENT FOR COLLABORATION, AND RECRUITS VOLUNTEERS FOR THE FOUNDATION MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pericles Toscas Executive Dir. | OfficerTrustee | 20 | $79,000 |
Thananuan Chariya Vice President | OfficerTrustee | 0.5 | $0 |
Oliver Derza Secretary | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $88,000 |
| 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 | $88,000 |
| Total Program Service Revenue | $0 |
| 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 | $88,000 |
| 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. | $79,000 |
| Compensation of current officers, directors, key employees. | $7,900 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $80,312 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,160 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,160 |
| Accounts payable and accrued expenses | $0 |
| 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 | $2,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,000 |
| Net assets without donor restrictions | $6,160 |
| 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 | $8,160 |