Tcs Education System FY2020 filing

Tax-deductible

Chicago, IL501(c)(3)Since 2009EducationEIN 27-0717860

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TCS Education System prepares innovative, engaged, purposeful agents of change who serve our global community.

501(c)(3) charity; gifts are tax-deductible.
21¢ of each $1 spent went to programs.
$6.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · 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
6 of 6
filings with a surplus
Average surplus $3.3M a year · 5% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
21%
of spending
Concern: 21% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$6.0M
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$12.8M
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 15 voting members
Looks good: 14 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$49.3M
Spent
$46.8M
To programs
21%
Net assets
$37.6M
By yearFY2020–FY2025
Revenue
$49.3M
FY2020
Revenue by fiscal year
FY2020$49.3M
FY2021$55.1M
FY2022$63.7M
FY2023$70.9M
FY2024$78.9M
FY2025$80.0M
Expenses
$46.8M
FY2020
Expenses by fiscal year
FY2020$46.8M
FY2021$53.5M
FY2022$59.2M
FY2023$66.8M
FY2024$74.8M
FY2025$77.0M
Net assets
$37.6M
FY2020
Net assets by fiscal year
FY2020$37.6M
FY2021$39.8M
FY2022$44.4M
FY2023$102.1M
FY2024$106.6M
FY2025$110.0M

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

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You’re viewing the FY2020 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 Jun 2010.

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

Where the money goes

21 cents of each dollar spent went to programs.

Program services 21% · $9.8M Management & general 79% · $36.9M Fundraising 0% · $65K

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

29 people listed on the 990; $6.0M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Corporate President/Trustee
$3,065,709Pt VII · Sec A
Chief Operating Officer
$394,982Pt VII · Sec A
Corporate Secretary/General Counsel
$314,047Pt VII · Sec A
Chief HR Officer
$306,486Pt VII · Sec A
Corporate Treasurer/CFO
$268,569Pt VII · Sec A
Chief Information Officer
$237,902Pt VII · Sec A
VP of Marketing
$215,631Pt VII · Sec A
Asst.corp. Secretary/Chief of Staff
$214,993Pt VII · Sec A

Michael Horowitz’s $1.6M as Corporate President/Trustee is at the 100th percentile of top reported officer pay among 3683 $10–100M education 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 · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Michael Horowitz$1,566,900$1,457,327$1,362,150$1,335,486$1,900,859$3,065,709
Deborah Solmor Former—$574,306————
Deborah Markos$543,950$500,521$423,850$401,993$397,358$394,982
Jennifer Gantz$375,738$345,499$48,808———
Richard Merrick$369,804$329,946$306,008$274,966$264,918$237,902
Brian Powell$364,659—————
Deborah Solmor Corporate——$349,181———
Donald Packham—$256,678$342,729$326,061$321,997$306,486

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 Tcs Education System 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

Educates students to become innovative, engaged agents of change for the global community.

Provided by the organization

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1 program · $9.8M · in their own filed words · FY2019
01

TCS Education System is a private, nonprofit system of colleges advancing student success and community impact. The System serves primarily as a supporting organization and central provider of services to several related institutions of higher learning.

$9.8Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$5K
Grants paid · 1 grant · $500K · 2019–2019

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$49.3M
Ln 12
Fees for servicesLn 2g$49.2M
Gifts and grantsLn 1h$87K
Investment incomeLn 3$13K
Money outPt IX
$46.8M
Ln 25
Programscol B$9.8M
Managementcol C$36.9M
Fundraisingcol D$65K
Owns and owesPt X
$37.6M
net assets · Ln 32
Cash and savingsLn 1–2$3.1M
Total assetsLn 16$50.4M
LiabilitiesLn 26$12.8M
PeoplePt VI, VII
29
listed · VII A
PaidVII A14
Voting boardVI 1a15
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$87K
Noncash giftsLn 1g$67K
Fees for servicesLn 2g$49.2M
Investment incomeLn 3$13K
Other incomeLn 4–11$298
Total revenueLn 12$49.3M
Assets in detailPt X, end of year
CashLn 1$3.1M
Cash and savings togetherLn 1–2$3.1M
Land, buildings, equipmentLn 10c$7.3M
Other assetsLn 15$32.7M
Total assetsLn 16$50.4M
LiabilitiesLn 26$12.8M
Net assetsLn 32$37.6M
OperationsPt I, VI
EmployeesI 5262
VolunteersI 615
Fiscal year endsHeaderMay
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$2.0M$3.1M
Land, buildings, equipmentLn 10c$6.3M$7.3M
Total assetsLn 16$47.0M$50.4M
LiabilitiesLn 26$12.2M$12.8M
Net assetsLn 32$34.8M$37.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$500K$500K
Pay of current officers, directors and key staffLn 5$4.6M$249K$4.4M
Other salaries and wagesLn 7$15.1M$6.3M$8.9M
Pension plan contributionsLn 8$819K$286K$533K
Other employee benefitsLn 9$1.9M$547K$1.3M
Payroll taxesLn 10$1.1M$434K$709K
Legal feesLn 11b$667K$667K
Accounting feesLn 11c$338K$338K
Other fees for servicesLn 11g$757K$92K$665K
Advertising and promotionLn 12$14.3M$214$14.3M
Office expensesLn 13$390K$53K$337K
Information technologyLn 14$1.9M$16K$1.9M$321
OccupancyLn 16$1.1M$428K$642K
TravelLn 17$802K$269K$468K$65K
Conferences, conventions and meetingsLn 19$372K$31K$341K
Depreciation, depletion and amortizationLn 22$1.5M$620K$860K
InsuranceLn 23$28K$28K
Other expenses (24a–d)Ln 24$237K$25K$211K
All other expensesLn 24e$425K$18K$407K
Total functional expensesLn 25$46.8M$9.8M$36.9M$65K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $80.0M$77.0M$3.0M$110.0M 990 PDF
FY2024 $78.9M$74.8M$4.1M$106.6M 990 PDF
FY2023 $70.9M$66.8M$4.1M$102.1M 990 PDF
FY2022 $63.7M$59.2M$4.5M$44.4M 990 PDF
FY2021 $55.1M$53.5M$1.6M$39.8M 990 PDF
FY2020 Viewing $49.3M$46.8M$2.5M$37.6M 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 $49,293,156 across 6 lines filed
Lines not itemized here account for $298 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$86,869
VIII-1g Noncash contributions (included above)$67,495
VIII-1h Total contributions, gifts and grants$86,869
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $49,192,639$49,192,639
VIII-3 Investment incomeExcluded from tax $13,350$13,350
VIII-12 Total revenueRelated to mission $49,192,639 · Unrelated business $0 · Excluded from tax $13,648$49,293,156
Part IX · Statement of functional expenses $46,803,685 across 19 lines filed
IX-1 Grants to domestic organizationsPrograms $500,000$500,000
IX-5 Pay of current officers, directors and key staffPrograms $249,416 · Management $4,359,013$4,608,429
IX-7 Other salaries and wagesPrograms $6,279,513 · Management $8,868,892$15,148,405
IX-8 Pension plan contributionsPrograms $285,682 · Management $533,231$818,913
IX-9 Other employee benefitsPrograms $546,840 · Management $1,318,563$1,865,403
IX-10 Payroll taxesPrograms $433,894 · Management $709,042$1,142,936
IX-11b Legal feesManagement $666,541$666,541
IX-11c Accounting feesManagement $338,269$338,269
IX-11g Other fees for servicesPrograms $92,370 · Management $665,094$757,464
IX-12 Advertising and promotionPrograms $214 · Management $14,277,928$14,278,142
IX-13 Office expensesPrograms $53,097 · Management $337,126$390,223
IX-14 Information technologyPrograms $16,002 · Management $1,858,655 · Fundraising $321$1,874,978
IX-16 OccupancyPrograms $428,136 · Management $642,393$1,070,529
IX-17 TravelPrograms $269,411 · Management $467,712 · Fundraising $64,942$802,065
IX-19 Conferences, conventions and meetingsPrograms $30,796 · Management $340,715$371,511
IX-22 Depreciation, depletion and amortizationPrograms $620,371 · Management $860,018$1,480,389
IX-23 InsuranceManagement $27,804$27,804
IX-24 Other expenses (24a–d)Programs $25,353 · Management $211,361$236,714
IX-24e All other expensesPrograms $18,009 · Management $406,961$424,970
IX-25 Total functional expensesPrograms $9,849,104 · Management $36,889,318 · Fundraising $65,263$46,803,685
Part X · Balance sheet $50,377,952 assets, 13 lines filed
Asset lines not itemized here account for $4,219,916; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,999,174$3,077,308
X-4 Accounts receivableStart of year $62,318$140,908
X-9 Prepaid expenses and deferred chargesStart of year $3,058,962$2,869,220
X-10c Land, buildings and equipment, netStart of year $6,334,664$7,321,444
X-15 Other assetsStart of year $34,408,669$32,749,156
X-16 Total assetsStart of year $47,021,009$50,377,952
X-17 Accounts payable and accrued expensesStart of year $8,277,773$8,892,400
X-25 Other liabilitiesStart of year $3,961,988$3,913,268
X-26 Total liabilitiesStart of year $12,239,761$12,805,668
X-27 Net assets without donor restrictionsStart of year $2,972,570$5,763,608
X-28 Net assets with donor restrictionsStart of year $31,808,678$31,808,676
X-32 Total net assets or fund balancesStart of year $34,781,248$37,572,284
X-33 Total liabilities and net assetsStart of year $47,021,009$50,377,952
Part XI · Reconciliation of net assets $37,572,284 net assets at year end
XI-1 Total revenue$49,293,156
XI-2 Total expenses$46,803,685
XI-3 Revenue less expenses$2,489,471
XI-4 Net assets at start of year$34,781,248
XI-5 Net unrealized gains (losses) on investments$296,651
XI-8 Prior period adjustments$4,914
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$37,572,284

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

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