Foundation For Information Technology Education
- Assets
- $973.0k
- Revenue
- $79.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 05/1975
- Data as of
- 12/2021
- EIN
- 51-0177031
Organization Overview
Foundation For Information Technology Education is located in Chicago, IL. The organization was established in 1975. According to its NTEE Classification (A70) the organization is classified as: Humanities, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Information Technology Education 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 12/2021, Foundation For Information Technology Education generated $79.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $51.3k during the year ending 12/2021. 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
THE FOUNDATION'S MISSION IS TO PROMOTE INFORMATION TECHNOLOGY RESEARCH AND EDUCATION AND TO ENCOURAGE AND SUPPORT INDIVIDUALS ENTERING AND CONSIDERING ENTERING THE INFORMATION TECHNOLOGY PROFESSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND AWARDS - TO ASSIST AND RECOGNIZE DATA PROCESSING PROFESSIONALS AND EDUCATORS IN BUSINESS, GOVERNMENT AND OTHER AREAS.
CONFERENCE - TO PROMOTE EDUCATIONAL AND RESEARCH GOALS OF THE FOUNDATION.
SUPPORT FOR OTHER TRADE CONFERENCES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nita Adams President | OfficerTrustee | 5 | $0 |
Kevin Jetton Vice President | OfficerTrustee | 3 | $0 |
Brian Reithel Secretary | OfficerTrustee | 2 | $0 |
Mark Gilfand Treasurer | OfficerTrustee | 7 | $0 |
Fred Kitchens Regent | Trustee | 2 | $0 |
Tony Lacrosse Regent | Trustee | 2 | $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 | $8,199 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,199 |
| Total Program Service Revenue | $2,193 |
| Investment income | $35,400 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $33,213 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $79,005 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500 |
| Grants and other assistance to domestic individuals. | $28,506 |
| 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 | $10,395 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,651 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,427 |
| 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 | $1,188 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,136 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $51,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $73,146 |
| 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 | $6,750 |
| Net Land, buildings, and equipment | $4,267 |
| Investments—publicly traded securities | $888,812 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $972,975 |
| Accounts payable and accrued expenses | $1,151 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,151 |
| Net assets without donor restrictions | $125,979 |
| Net assets with donor restrictions | $845,845 |
| 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 | $972,975 |
Endowment Analysis
| Beg. Balance | $598,239 |
| Earnings | $52,152 |
| Admin Expense | $12,472 |
| Grants | $26,779 |
| Ending Balance | $611,140 |
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|---|---|---|
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Missouri Humanities Council St Charles, MO | $2,269,660 | $3,215,573 |
Missouri Automobile Dealers Association Jefferson City, MO | $2,471,878 | $1,969,248 |
Wisconsin Humanities Council Madison, WI | $372,757 | $2,007,119 |
The Clearing Ellison Bay, WI | $3,923,723 | $2,072,867 |
Wisconsin Academy Of Sciences Arts & Letters Madison, WI | $712,983 | $792,015 |
Indianapolis Theatre Fringe Festival Inc Indianapolis, IN | $1,327,063 | $667,100 |