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Chicago Virtual Charter School

IRS exemption revoked

Chicago, ILUnknown exempt organizationSince 2006EIN 01-0863627

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The Chicago Virtual Charter School was formed in 2006 as a tuition-free, public charter school that provides an individualized, high-quality education where parents parter with certified teacher.

91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 5.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.1M
32% of total assets
Looks good: liabilities are 32% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.7M
Spent
$6.6M
To programs
91%
Net assets
$2.3M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
IRS revoked this organization's tax-exempt status on November 15, 2023

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2020.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $6.0M Management & general 9% · $594K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Lori Lypson
Treasurer
$0Pt VII · Sec A
Carolyn Levystein
Academic Chair
$0Pt VII · Sec A
Roy Hamilton
President
$0Pt VII · Sec A
Brent Hablieb
Secretary
$0Pt VII · Sec A
See Chicago Virtual Charter School executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides tuition-free, individualized public education with parent-teacher partnerships.

Provided by the organization

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1 program · $6.0M · in their own filed words · FY2019
01

The school is a unique hybrid model of instruction whre a portion of the student learning time is spent in a traditional classrom and a portion of their learning is done via distance learning under the supervision of a licensed teacher. The school provides the curriculum, materials and computers for students.

$6.0Mprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$7.7M
Ln 12
Gifts and grantsLn 1h$7.6M
Other incomeLn 4–11$87K
Investment incomeLn 3$495
Money outPt IX
$6.6M
Ln 25
Programscol B$6.0M
Managementcol C$594K
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$3.0M
Total assetsLn 16$3.3M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.6M
Government grantsLn 1e$7.6M
Investment incomeLn 3$495
Other incomeLn 4–11$87K
Total revenueLn 12$7.7M
Assets in detailPt X, end of year
CashLn 1$3.0M
Cash and savings togetherLn 1–2$3.0M
Land, buildings, equipmentLn 10c$184K
Other assetsLn 15$8K
Total assetsLn 16$3.3M
LiabilitiesLn 26$1.1M
Net assetsLn 32$2.3M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$1.7M$3.0M
Land, buildings, equipmentLn 10c$309K$184K
Total assetsLn 16$2.0M$3.3M
LiabilitiesLn 26$844K$1.1M
Net assetsLn 32$1.1M$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$3.5M$3.5M
Other employee benefitsLn 9$968K$968K
Office expensesLn 13$23K$23K
Information technologyLn 14$29K$29K
OccupancyLn 16$271K$271K
Conferences, conventions and meetingsLn 19$21K$21K
Depreciation, depletion and amortizationLn 22$130K$130K
InsuranceLn 23$27K$27K
Other expenses (24a–d)Ln 24$1.3M$897K$404K
All other expensesLn 24e$298K$130K$169K
Total functional expensesLn 25$6.6M$6.0M$594K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $7.7M$6.6M$1.1M$2.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (4 parts)
Part VIII · Statement of revenue $7,688,889 across 5 lines filed
VIII-1e Government grants$7,601,636
VIII-1h Total contributions, gifts and grants$7,601,636
VIII-3 Investment incomeRelated to mission $495$495
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $86,758$86,758
VIII-12 Total revenueRelated to mission $87,253 · Unrelated business $0 · Excluded from tax $0$7,688,889
Part IX · Statement of functional expenses $6,572,703 across 10 lines filed
IX-7 Other salaries and wagesPrograms $3,503,749$3,503,749
IX-9 Other employee benefitsPrograms $968,156$968,156
IX-13 Office expensesPrograms $23,153$23,153
IX-14 Information technologyPrograms $29,242$29,242
IX-16 OccupancyPrograms $271,267$271,267
IX-19 Conferences, conventions and meetingsManagement $21,424$21,424
IX-22 Depreciation, depletion and amortizationPrograms $129,681$129,681
IX-23 InsurancePrograms $26,907$26,907
IX-24 Other expenses (24a–d)Programs $897,038 · Management $403,801$1,300,839
IX-24e All other expensesPrograms $129,725 · Management $168,560$298,285
IX-25 Total functional expensesPrograms $5,978,918 · Management $593,785 · Fundraising $0$6,572,703
Part X · Balance sheet $3,313,930 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $1,651,110$2,989,468
X-4 Accounts receivableStart of year $10,183$131,990
X-10c Land, buildings and equipment, netStart of year $308,609$183,972
X-15 Other assetsStart of year $8,500$8,500
X-16 Total assetsStart of year $1,978,402$3,313,930
X-17 Accounts payable and accrued expensesStart of year $844,353$1,063,695
X-26 Total liabilitiesStart of year $844,353$1,063,695
X-27 Net assets without donor restrictionsStart of year $1,134,049$2,250,235
X-32 Total net assets or fund balancesStart of year $1,134,049$2,250,235
X-33 Total liabilities and net assetsStart of year $1,978,402$3,313,930
Part XI · Reconciliation of net assets $2,250,235 net assets at year end
XI-1 Total revenue$7,688,889
XI-2 Total expenses$6,572,703
XI-3 Revenue less expenses$1,116,186
XI-4 Net assets at start of year$1,134,049
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,250,235

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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