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Chicago Virtual Charter School

IRS exemption revoked

Chicago, ILUnknown exempt organizationSince 2006 EIN 01-0863627Revenue $7.7M in FY2020Latest filing we have: 2019. Newer ones may not be in our data yet. Filed since? Tell us.

On file with the IRScvcschool.orgChicago, IL

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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.

Form 990 Part I, line 1, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 01-0863627) · Dispute this line
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
The IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2020
latest Form 990
The latest return is for FY2020, 6 tax years back.
IRS e-file · Filing history
Spent on programs
91%
of spending
91% of spending went to programs.
Pt IX · Ln 25 · col B
Cash reserves
5.5 mo
of spending, in cash
5.5 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.1M
32% of total assets
Liabilities are 32% of assets.
Pt X · Ln 26
Independent board members
7
of 7 voting members
7 of 7 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo 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

990 PDF Follow 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 we have: FY2019.

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.

Something off? Claim to add context

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
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 →

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.

Questions for Chicago Virtual Charter School

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Your first name shows with your question. Chicago Virtual Charter School answers here, for everyone.

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.

Form 990 Part III, line 4, FY2019. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 01-0863627) · Dispute this line
$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
Accounts receivableLn 4$132K
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 ViewingFiled with the IRS May 15, 2021 $7.7M$6.6M$1.1M$2.3M 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2020 990
Part I · Summary $7,688,889 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $7,892,634$7,601,636
I-9 Program service revenue$0
I-10 Investment incomePrior year $489$495
I-11 Other revenuePrior year $543$86,758
I-12 Total revenuePrior year $7,893,666$7,688,889
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $4,428,226$4,471,905
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,327,976$2,100,798
I-18 Total expensesPrior year $6,756,202$6,572,703
I-19 Revenue less expensesPrior year $1,137,464$1,116,186
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
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 FY2020 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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