Institute For The Future Of Law Practice Inc
- Assets
- $41.6k
- Revenue
- $339.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Bloomington, IN
- Founding
- 06/2019
- Data as of
- 07/2021
- EIN
- 82-4134296
Organization Overview
Institute For The Future Of Law Practice Inc is located in Bloomington, IN. The organization was established in 2019. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, 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. Institute For The Future Of Law Practice Inc 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 07/2021, Institute For The Future Of Law Practice Inc generated $339.5k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $356.8k during the year ending 07/2021. While expenses have increased by 4.1% per year over the past 4 years. They've been increasing with an increasing level of total revenue. 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 INSTITUTE IS ORGANIZED AND OPERATED EXCLUSIVELY TO EDUCATE LAW STUDENTS AND MID-CAREER PROFESSIONALS ON ADVANCED AND EMERGING METHODS OF LAW PRACTICE, OFTEN WITH AN EMPHASIS ON DATA, PROCESS, AND TECHNOLOGY INCLUDING THROUGH THE FACILITATION OF INTERNSHIPS AND FIELD PLACEMENT OF LAW STUDENTS WITH PARTICIPATING LEGAL EMPLOYERS WHO WANT A WORKFORCE WITH ADVANCE TRAINING NOT CURRENTLY OFFERED IN LAW SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ONLINE CERTIFICATION: REVISED OUR EXISTING CURRICULUM & OPTIMIZED FOR ONLINE ASYNCHRONOUS DELIVERY. NOW AVAILABLE TO ALL LEGAL PROFESSIONALS (PREVIOUSLY, WAS ONLY AVAILABLE TO A SELECT NUMBER OF LAW STUDENTS)
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Linna Secretary | OfficerTrustee | 1 | $40,000 |
William Mooz President | OfficerTrustee | 1 | $26,800 |
Kevin Colangelo Executive Director | OfficerTrustee | 40 | $25,000 |
Monica Goyal Board Member | Trustee | 1 | $10,100 |
William Henderson Treasurer & Director Of Development | OfficerTrustee | 5 | $6,800 |
Jorge Alvarez Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $288,532 |
| 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 | $339,532 |
| Statement of Expenses | |
|---|---|
| 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. | $197,584 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $98,300 |
| Pension plan accruals and contributions | $2,066 |
| Other employee benefits | $10,206 |
| Payroll taxes | $10,730 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,608 |
| Advertising and promotion | $10,000 |
| Office expenses | $3,272 |
| Information technology | $6,891 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $28 |
| 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 | $356,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,646 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $41,646 |
| Accounts payable and accrued expenses | $19,377 |
| 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 | $19,377 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $22,269 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Institute For The Future Of Law Practice Inc has recieved totaling $26,850.
| Awarding Organization | Amount |
|---|---|
Lawyers Trust Fund Of Illinois Chicago, IL PURPOSE: TO PROVIDE FREE LEGAL SERVICES | $26,850 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kansas City University Kansas City, MO | $396,275,959 | $114,344,236 |
Accreditation Council For Graduate Medical Education Chicago, IL | $103,044,710 | $71,823,147 |
University Of Health Sciences And Pharmacy In St Louis Saint Louis, MO | $314,379,266 | $75,273,875 |
Asbury Theological Seminary Wilmore, KY | $333,796,449 | $52,800,131 |
Illinois College Of Optometry Chicago, IL | $110,244,360 | $41,438,897 |
Logan University Chesterfield, MO | $101,664,851 | $38,500,877 |
Toyota Technological Institute At Chicago Chicago, IL | $302,171,047 | $22,569,767 |
National Center For Teacher Residencies Inc Chicago, IL | $5,406,714 | $10,603,548 |
Lake Forest Graduate School Of Management Lake Forest, IL | $18,989,576 | $9,582,836 |
Harry S Truman Library Institute For National & International Affai Kansas City, MO | $16,879,903 | $3,123,926 |
Legacy Law School Corporation Chicago, IL | $0 | $2,278 |
Graduate School Of Banking Inc Madison, WI | $1,229,337 | $3,378,911 |