Depaul College Prep Foundation
- Assets
- $107.3m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 03/2018
- Data as of
- 06/2023
- EIN
- 81-4516326
Organization Overview
Depaul College Prep Foundation is located in Chicago, IL. The organization was established in 2018. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Depaul College Prep 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 06/2023, Depaul College Prep Foundation generated $4.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (33.0%) each year. All expenses for the organization totaled $4.1m during the year ending 06/2023. 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
RAISING FUNDS IN SUPPORT OF DEPAUL COLLEGE PREP, AN ILLINOIS NOT-FOR-PROFIT CORPORATION, HOLDING FUNDS AND ASSETS RAISED, DISBURSING AVAILABLE FUNDS IN SUPPORT OF THE CAPITAL, OPERATING AND OTHER FINANCIAL NEEDS OF DEPAUL COLLEGE PREP OR IN FURTHERANCE OF SUCH PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICE: EDUCATIONAL RESOURCESDEPAUL COLLEGE PREP FOUNDATION ENTERED INTO A LOAN WITH THE ILLINOIS FINANCE AUTHORITY WHICH ISSUED BONDS ON BEHALF OF THE FOUNDATION. THE PROCEEDS OF THE BONDS WERE MAINLY USED TO REPAY THE DEBT FROM THE PURCHASE OF THE CAMPUS IN 2019 AND TO FINANCE THE COSTS OF BUILDING A NEW ACADEMIC BUILDING ON THE CAMPUS, INCLUDING 19 CLASSROOMS, A NEW DINING HALL, AND 2 SCIENCE LABS. EXPENSES ALSO INCLUDE INTEREST ON THE DEBT THAT WAS REPAID DURING THE YEAR, INTEREST ON THE LOAN WITH THE ILLINOIS FINANCE AUTHORITY, AND DEPRECIATION.
PROGRAM SERVICE: ENDOWMENT FOR EDUCATIONAL PURPOSECONTRIBUTIONS TO DEPAUL COLLEGE PREP FOUNDATION ARE PARTIALLY TO GROW THE ENDOWMENT TO BE USED FOR EDUCATIONAL PURPOSES. THE ENDOWMENT FUND WILL FUND BOTH SCHOLARSHIPS TO STUDENTS WHO ATTEND DEPAUL COLLEGE PREP AND PROFESSIONAL DEVELOPMENT FOR THE FACULTY AT DEPAUL COLLEGE PREP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary A Dempsey President | OfficerTrustee | 10 | $0 |
Jeff Bethke Treasurer | OfficerTrustee | 2 | $0 |
Robert Karpinski Treasurer | OfficerTrustee | 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 | $1,688,681 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,688,681 |
| Total Program Service Revenue | $2,660,926 |
| Investment income | $96,133 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$68,208 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,401,593 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,000 |
| 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 | $57,501 |
| 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 | $2,263,107 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $612,328 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,063,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,573,979 |
| Pledges and grants receivable | $1,411,503 |
| Accounts receivable, net | $24,061 |
| 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 | $980,816 |
| Investments—other securities | $0 |
| Investments—program-related | $83,080,276 |
| Intangible assets | $0 |
| Other assets | $18,244,092 |
| Total assets | $107,314,727 |
| Accounts payable and accrued expenses | $6,757,998 |
| 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 | $72,049,957 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,534,782 |
| Total liabilities | $80,342,737 |
| Net assets without donor restrictions | $24,102,023 |
| Net assets with donor restrictions | $2,869,967 |
| 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 | $107,314,727 |