The Tws Foundation FY2023 filing

Tax-deductible

Western Sprgs, IL501(c)(3)Since 2006Arts & CultureEIN 20-5693587

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Encourage and care for contributions that support the entertainment, education, and inspiration of multiple generations through the art of live theatre in the western suburbs of chicago.

501(c)(3) charity; gifts are tax-deductible.
69¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
5 of 5
filings with a surplus
Average surplus $162K a year · 85% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
30 mo
of spending, in cash
Looks good: 30.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 12 voting members
Looks good: 9 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$67K
-14% vs prior year
Spent
$10K
To programs
69%
Net assets
$1.4M
By yearFY2021–FY2025
Revenue
$67K
FY2023▼ -14%
Revenue by fiscal year
FY2021$64K
FY2022$78K
FY2023$67K
FY2024$74K
FY2025$666K
FY2025$210K
Expenses
$10K
FY2023▼ -47%
Expenses by fiscal year
FY2021$61K
FY2022$18K
FY2023$10K
FY2024$28K
FY2025$24K
FY2025$26K
Net assets
$1.4M
FY2023▲ +10%
Net assets by fiscal year
FY2021$1.4M
FY2022$1.3M
FY2023$1.4M
FY2024$1.6M
FY2025$2.4M
FY2025$2.8M

From the FY2023 Form 990 (year ending June 2023) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2008.

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

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $7K Management & general 6% · $600 Fundraising 25% · $2K

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

12 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Edward Wavak’s $30K as Trustee is at the 25th percentile of top reported officer pay among 2215 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2025
Edward Wavak$30,000$30,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See The Tws Foundation 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 15aNo

Programs and updates

Supports live theatre in Chicago's western suburbs, inspiring and educating all generations.

Provided by the organization

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2 program services account for $7K of program spending, described in the organization's own filed words · FY2022.
01

Encourage and care for contributions that support the entertainment, education, and inspiration of multiple generations through the art of live theatre in the western suburbs of chicago.

$7Kprogram expense
02

Provide scholarships to high school students pursuing extracirrular studies in theatre arts

Pt IX · col B

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Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 7 grants · $106K · 2020–2025
Unitemized GrantFY2023$7,545

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$67K
Ln 12
Investment incomeLn 3$48K
Gifts and grantsLn 1h$20K
Money outPt IX
$10K
Ln 25
Programscol B$7K
Managementcol C$600
Fundraisingcol D$2K
Owns and owesPt X
$1.4M
net assets · Ln 32
Cash and savingsLn 1–2$24K
Total assetsLn 16$1.4M
LiabilitiesLn 26$0
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$20K
Investment incomeLn 3$48K
Gains on assetsLn 7−$102
Total revenueLn 12$67K
Assets in detailPt X, end of year
CashLn 1$24K
Cash and savings togetherLn 1–2$24K
InvestmentsLn 11–13$1.4M
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$1.4M
LiabilitiesLn 26$0
Net assetsLn 32$1.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
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 FY23End FY23
Cash and savingsLn 1–2$39K$24K
InvestmentsLn 11–13$1.2M$1.4M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$1.3M$1.4M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.3M$1.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$7K$7K
Conferences, conventions and meetingsLn 19$150$150
InsuranceLn 23$425$425
Other expenses (24a–d)Ln 24$2K$25$2K
Total functional expensesLn 25$10K$7K$600$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 $666K$24K$642K$2.4M 990 PDF
FY2024 $74K$28K$46K$1.6M 990 PDF
FY2023 Viewing $67K$10K$58K$1.4M 990 PDF
FY2022 $78K$18K$60K$1.3M 990 PDF
FY2021 $64K$61K$3K$1.4M 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $67,208 across 5 lines filed
VIII-1f All other contributions, gifts and grants$19,579
VIII-1h Total contributions, gifts and grants$19,579
VIII-3 Investment incomeExcluded from tax $47,731$47,731
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$102−$102
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $47,629$67,208
Part IX · Statement of functional expenses $9,615 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $6,600$6,600
IX-19 Conferences, conventions and meetingsManagement $150$150
IX-23 InsuranceManagement $425$425
IX-24 Other expenses (24a–d)Management $25 · Fundraising $2,415$2,440
IX-25 Total functional expensesPrograms $6,600 · Management $600 · Fundraising $2,415$9,615
Part X · Balance sheet $1,408,025 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $39,450$24,464
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $1,239,162$1,383,561
X-16 Total assetsStart of year $1,278,662$1,408,025
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,278,662$1,408,025
X-33 Total liabilities and net assetsStart of year $1,278,662$1,408,025
Part XI · Reconciliation of net assets $1,408,025 net assets at year end
XI-1 Total revenue$67,208
XI-2 Total expenses$9,615
XI-3 Revenue less expenses$57,593
XI-4 Net assets at start of year$1,278,662
XI-5 Net unrealized gains (losses) on investments$77,657
XI-7 Investment expenses−$5,887
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,408,025

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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