Peace Corner Incorporated FY2021 filing

Tax-deductible

Chicago, IL501(c)(3)EIN 20-2940156Revenue $226K in FY2021

On file with the IRSthepeacecorner.org721 N La Salle Dr, 60654-3503 · Chicago, ILTax-exempt since Mar 1946Church — 170(b)(1)(A)(i)

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PCYC provides a safe haven fromgang violence and drug activity, an after school program for children, and a nutritious meal. We provide a place to complete their homework, improve their study skills and engage in various recreational and educational programs.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $660K a year · 137% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $4K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$376K
29% of total assets
Looks good: liabilities are 29% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$226K
-9% vs prior year
Spent
$390K
To programs
84%
Net assets
$902K
By yearFY2020–FY2025
Revenue
$226K
FY2021▼ -9%
Revenue by fiscal year
FY2020$247K
FY2021$226K
FY2022$32K
FY2023$1.8M
FY2024$86K
FY2025$43K
Expenses
$390K
FY2021▼ -2%
Expenses by fiscal year
FY2020$398K
FY2021$390K
FY2022$437K
FY2023$443K
FY2024$4.0M
FY2025Not on file
Net assets
$902K
FY2021▼ -30%
Net assets by fiscal year
FY2020$1.3M
FY2021$902K
FY2022$518K
FY2023$1.9M
FY2024−$2.1M
FY2025−$2.1M

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1946.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $327K Management & general 16% · $63K

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 (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
See Peace Corner Incorporated 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

Offers safe after-school programs, meals, and homework help to protect kids from violence and drugs.

Provided by the organization

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2 programs · $327K · in their own filed words · FY2020
01

PCYC- The Peace Corner University is the largest program conducted at the Peace Corner. It provided a safe, educational, and recreational space for the youth of the Austin area. The program includes computer lab time, gym time, homework assistance, dance classes and newly added science class.

$197Kprogram expense
02

Teen Reach

The Peace Corner corner obtained a grant to perform mentoring.

$129Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$4K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$226K
Ln 12
Gifts and grantsLn 1h$225K
Investment incomeLn 3$176
Money outPt IX
$390K
Ln 25
Programscol B$327K
Managementcol C$63K
Owns and owesPt X
$902K
net assets · Ln 32
Cash and savingsLn 1–2$38K
Total assetsLn 16$1.3M
LiabilitiesLn 26$376K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$225K
Government grantsLn 1e$158K
Investment incomeLn 3$176
Gains on assetsLn 7$0
Total revenueLn 12$226K
Assets in detailPt X, end of year
CashLn 1$38K
SavingsLn 2$0
Cash and savings togetherLn 1–2$38K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$1.2M
Other assetsLn 15$0
Total assetsLn 16$1.3M
LiabilitiesLn 26$376K
Net assetsLn 32$902K
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 FY21End FY21
Cash and savingsLn 1–2$184K$38K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$1.5M$1.2M
Total assetsLn 16$1.7M$1.3M
LiabilitiesLn 26$429K$376K
Net assetsLn 32$1.3M$902K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$159K$143K$16K
Pension plan contributionsLn 8$12K$11K$1K
Other employee benefitsLn 9$36K$32K$4K
Payroll taxesLn 10$14K$13K$1K
Management feesLn 11a$32K$32K
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$2K$2K$137
Advertising and promotionLn 12$0
Office expensesLn 13$8K$8K
Information technologyLn 14$14K$14K
RoyaltiesLn 15$0
OccupancyLn 16$52K$52K
TravelLn 17$5K$5K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$75$75
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$51K$51K
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$380$2$378
All other expensesLn 24e$0
Total functional expensesLn 25$390K$327K$63K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $43K−$2.1M 990 PDF
FY2024 $86K$4.0M−$4.0M−$2.1M 990 PDF
FY2023 $1.8M$443K$1.4M$1.9M 990 PDF
FY2022 $32K$437K−$405K$518K 990 PDF
FY2021 Viewing $226K$390K−$164K$902K 990 PDF
FY2020 $247K$398K−$151K$1.3M 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 FY2021 990 (6 parts)
Part I · Summary $225,596 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $246,506$225,420
I-9 Program service revenue$0
I-10 Investment incomePrior year $380$176
I-11 Other revenue$0
I-12 Total revenuePrior year $246,886$225,596
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $181,309$220,797
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $217,029$168,926
I-18 Total expensesPrior year $398,338$389,723
I-19 Revenue less expensesPrior year −$151,452−$164,127
Part VI · Governance 0 of 3 board members independent, no flags
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
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 $225,596 across 9 lines filed
VIII-1e Government grants$158,320
VIII-1f All other contributions, gifts and grants$67,100
VIII-1h Total contributions, gifts and grants$225,420
VIII-3 Investment incomeExcluded from tax $176$176
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueExcluded from tax $176$225,596
Part IX · Statement of functional expenses $389,723 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $143,141 · Management $15,905$159,046
IX-8 Pension plan contributionsPrograms $10,712 · Management $1,190$11,902
IX-9 Other employee benefitsPrograms $32,038 · Management $3,560$35,598
IX-10 Payroll taxesPrograms $12,826 · Management $1,425$14,251
IX-11a Management feesManagement $31,968$31,968
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $1,951 · Management $137$2,088
IX-12 Advertising and promotion$0
IX-13 Office expensesManagement $8,463$8,463
IX-14 Information technologyPrograms $13,717$13,717
IX-15 Royalties$0
IX-16 OccupancyPrograms $52,144$52,144
IX-17 TravelPrograms $4,846$4,846
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsManagement $75$75
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $50,591$50,591
IX-23 InsurancePrograms $4,654$4,654
IX-24 Other expenses (24a–d)Programs $2 · Management $378$380
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $326,622 · Management $63,101 · Fundraising $0$389,723
Part X · Balance sheet $1,278,382 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $184,477$37,650
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivableStart of year $43,768$0
X-4 Accounts receivableStart of year $16,403$40,770
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $383$233
X-10c Land, buildings and equipment, netStart of year $1,476,977$1,199,729
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $1,722,008$1,278,382
X-17 Accounts payable and accrued expensesStart of year $13,631$3,256
X-25 Other liabilitiesStart of year $415,252$372,785
X-26 Total liabilitiesStart of year $428,883$376,041
X-27 Net assets without donor restrictionsStart of year $1,293,111$902,341
X-32 Total net assets or fund balancesStart of year $1,293,125$902,341
X-33 Total liabilities and net assetsStart of year $1,722,008$1,278,382
Part XI · Reconciliation of net assets $902,341 net assets at year end
XI-1 Total revenue$225,596
XI-2 Total expenses$389,723
XI-3 Revenue less expenses−$164,127
XI-4 Net assets at start of year$1,293,125
XI-9 Other changes in net assets−$226,657
XI-10 Net assets at end of year$902,341

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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