Shimer College FY2020 filing

Chicago, ILHigher education institutionEIN 36-2167921

Shimer provides and preserves education centered on discussion of enduring questions and issues

Mission: Form 990 Part I, line 1

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 4
filings with a surplus
Average deficit $19K a year · 8261% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
1752 mo
of spending, in cash
Looks good: 1751.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $73
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 2 voting members
Looks good: 2 of 2 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$493
Spent
$3K
To programs
0%
Net assets
$489K
By yearFY2020–FY2024
Revenue
$493
FY2020
Revenue by fiscal year
FY2020$493
FY2021$217
FY2022$202
FY2024$0
Expenses
$3K
FY2020
Expenses by fiscal year
FY2020$3K
FY2021$19K
FY2022$45K
FY2024$8K
Net assets
$489K
FY2020
Net assets by fiscal year
FY2020$489K
FY2021$470K
FY2022$425K
FY2024$0

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $3K

Form 990 Part IX, line 25. Every line is in By the numbers.

Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
See Shimer College 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

Fosters education through discussion of enduring questions and issues.

Provided by the organization

This section is blank until Shimer College claims this page.

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1 program service, described in the organization's own filed words · FY2019.
01

Shimer college was closed during the 2017 fiscal year. The college is currently in the process of winding down operations and expects to liquidate operations after all expenses are paid out and interests in remaining trusts are received or assigned to north central college.

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 · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$73

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$493
Ln 12
Investment incomeLn 3$296
Other incomeLn 4–11$197
Money outPt IX
$3K
Ln 25
Managementcol C$3K
Owns and owesPt X
$489K
net assets · Ln 32
Cash and savingsLn 1–2$489K
Total assetsLn 16$489K
LiabilitiesLn 26$0
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$296
Other incomeLn 4–11$197
Total revenueLn 12$493
Assets in detailPt X, end of year
CashLn 1$18K
SavingsLn 2$472K
Cash and savings togetherLn 1–2$489K
Other assetsLn 15$0
Total assetsLn 16$489K
LiabilitiesLn 26$0
Net assetsLn 32$489K
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
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$316K$489K
Total assetsLn 16$4.5M$489K
LiabilitiesLn 26$0$0
Net assetsLn 32$4.5M$489K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Office expensesLn 13$2K$2K
Information technologyLn 14$1K$1K
Other expenses (24a–d)Ln 24$116$116
Total functional expensesLn 25$3K$0$3K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $0$8K−$8K$0 990 PDF
FY2023 Not on file
FY2022 $202$45K−$45K$425K 990 PDF
FY2021 $217$19K−$19K$470K 990 PDF
FY2020 Viewing $493$3K−$3K$489K 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 $493 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $296$296
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $197$197
VIII-12 Total revenueRelated to mission $197 · Unrelated business $0 · Excluded from tax $296$493
Part IX · Statement of functional expenses $3,352 across 3 lines filed
IX-13 Office expensesManagement $1,799$1,799
IX-14 Information technologyManagement $1,437$1,437
IX-24 Other expenses (24a–d)Management $116$116
IX-25 Total functional expensesPrograms $0 · Management $3,352 · Fundraising $0$3,352
Part X · Balance sheet $489,269 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $20,886$17,731
X-2 Savings and temporary cash investmentsStart of year $295,152$471,538
X-15 Other assetsStart of year $4,183,468$0
X-16 Total assetsStart of year $4,499,506$489,269
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year −$337,586−$340,445
X-28 Net assets with donor restrictionsStart of year $4,837,092$829,714
X-32 Total net assets or fund balancesStart of year $4,499,506$489,269
X-33 Total liabilities and net assetsStart of year $4,499,506$489,269
Part XI · Reconciliation of net assets $489,269 net assets at year end
XI-1 Total revenue$493
XI-2 Total expenses$3,352
XI-3 Revenue less expenses−$2,859
XI-4 Net assets at start of year$4,499,506
XI-9 Other changes in net assets−$4,007,378
XI-10 Net assets at end of year$489,269

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

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