Generations College INC FY2021 filing

Tax-deductible

Chicago, IL501(c)(3)Since 1965Colleges & UniversitiesEIN 36-2581098

Generations college is a private, nonprofit institution whose mission is to provide a transformative educational experience to its diverse student body in an environment that promotes learning and encourages, empowers, and nurtures the well-being of the whole person. Our comprehensive academic programs challenge students to excel in their academic and career pursuits and prepare students to be lifelong learners and responsible citizens in a global society.

501(c)(3) charity; gifts are tax-deductible.
64¢ of each $1 spent went to programs.
$342K 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

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
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
3 of 5
filings with a surplus
Average surplus $212K a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
64%
of spending
Worth a look: 64% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$342K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 7.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.5M
35% of total assets
Looks good: liabilities are 35% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.4M
-45% vs prior year
Spent
$4.1M
To programs
64%
Net assets
$2.8M
By yearFY2020–FY2024
Revenue
$4.4M
FY2021▼ -45%
Revenue by fiscal year
FY2020$8.0M
FY2021$4.4M
FY2022$6.4M
FY2023$5.3M
FY2024$5.8M
FY2024$6.1M
Expenses
$4.1M
FY2021▼ -48%
Expenses by fiscal year
FY2020$7.9M
FY2021$4.1M
FY2022$5.4M
FY2023$5.5M
FY2024$6.1M
FY2024$6.8M
Net assets
$2.8M
FY2021▲ +14%
Net assets by fiscal year
FY2020$2.4M
FY2021$2.8M
FY2022$3.8M
FY2023$3.6M
FY2024$3.4M
FY2024$2.7M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 ruling in Jun 1967.

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

Where the money goes

64 cents of each dollar spent went to programs.

Program services 64% · $2.6M Management & general 35% · $1.4M Fundraising 1% · $24K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

5 people listed on the 990; $342K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$230,000Pt VII · Sec A
Interim President/Dean of Finance
$111,699Pt VII · Sec A
Board Chairman
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A

Dr Grace Alexis’s $242K as Chancellor is at the 90th percentile of top reported officer pay among 3394 $1–10M 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 · 7 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Dr Grace Alexis$241,500$241,500————
Dr Grace Stephens——$235,750———
Drmarnelle Alexis———$230,000$230,000$215,000
Mateusz Gawenda—$127,621$118,825$111,182$111,699$107,828
Joe Painter$106,575—————
Matt Gawenda$77,257—————
Hector Ferrer$35,458—————

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.

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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

Prepares students for success in a diverse, tech-driven world through educational training.

Provided by the organization

This section is blank until Generations College INC claims this page.

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1 program service account for $2.6M of program spending, described in the organization's own filed words · FY2020.
01

Instructional, academic support, and student services.

$2.6Mprogram expense

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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 · 15 grants · $11.1M · 2019–2024
Unitemized GrantFY2024$1,642,472
Unitemized GrantFY2024$7,810
Unitemized GrantFY2024$4,000
Unitemized GrantFY2023$1,714,258
Unitemized GrantFY2023$57,629
Unitemized GrantFY2023$6,566
Unitemized GrantFY2022$902,874
Unitemized GrantFY2022$25,000
Unitemized GrantFY2022$13,503
Unitemized GrantFY2021$985,275
Unitemized GrantFY2021$717,259
Unitemized GrantFY2021$101,252
Unitemized GrantFY2020$428,342
Unitemized GrantFY2020$285,532
Unitemized GrantFY2019$4,231,311

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$4.4M
Ln 12
Fees for servicesLn 2g$3.5M
Gifts and grantsLn 1h$958K
Other incomeLn 4–11$653
Money outPt IX
$4.1M
Ln 25
Programscol B$2.6M
Managementcol C$1.4M
Fundraisingcol D$24K
Owns and owesPt X
$2.8M
net assets · Ln 32
Cash and savingsLn 1–2$2.4M
Total assetsLn 16$4.3M
LiabilitiesLn 26$1.5M
PeoplePt VI, VII
5
listed · VII A
PaidVII A2
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$958K
Government grantsLn 1e$937K
Fees for servicesLn 2g$3.5M
Investment incomeLn 3$98
Other incomeLn 4–11$653
Total revenueLn 12$4.4M
Assets in detailPt X, end of year
CashLn 1$932K
SavingsLn 2$1.5M
Cash and savings togetherLn 1–2$2.4M
Land, buildings, equipmentLn 10c$87K
Total assetsLn 16$4.3M
LiabilitiesLn 26$1.5M
Net assetsLn 32$2.8M
OperationsPt I, VI
EmployeesI 552
VolunteersI 64
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$1.8M$2.4M
Land, buildings, equipmentLn 10c$135K$87K
Total assetsLn 16$3.6M$4.3M
LiabilitiesLn 26$1.1M$1.5M
Net assetsLn 32$2.4M$2.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$714K$714K
Pay of current officers, directors and key staffLn 5$392K$170K$218K$5K
Other salaries and wagesLn 7$1.3M$550K$707K$15K
Pension plan contributionsLn 8$39K$17K$22K$461
Other employee benefitsLn 9$14K$10K$3K
Payroll taxesLn 10$305K$132K$169K$4K
Legal feesLn 11b$42K$32K$10K
Accounting feesLn 11c$37K$28K$9K
Other fees for servicesLn 11g$42K$32K$10K
Advertising and promotionLn 12$256K$194K$61K
Office expensesLn 13$138K$101K$37K$134
Information technologyLn 14$56K$43K$14K
OccupancyLn 16$375K$285K$90K
TravelLn 17$72$55$17
Conferences, conventions and meetingsLn 19$660$501$159
Depreciation, depletion and amortizationLn 22$50K$38K$12K
InsuranceLn 23$36K$27K$9K
Other expenses (24a–d)Ln 24$315K$237K$78K$76
Total functional expensesLn 25$4.1M$2.6M$1.4M$24K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $5.8M$6.1M−$239K$3.4M 990 PDF
FY2023 $5.3M$5.5M−$176K$3.6M 990 PDF
FY2022 $6.4M$5.4M$1.0M$3.8M 990 PDF
FY2021 Viewing $4.4M$4.1M$339K$2.8M 990 PDF
FY2020 $8.0M$7.9M$118K$2.4M 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $4,421,944 across 7 lines filed
VIII-1e Government grants$936,665
VIII-1f All other contributions, gifts and grants$20,925
VIII-1h Total contributions, gifts and grants$957,590
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,463,603$3,463,603
VIII-3 Investment incomeExcluded from tax $98$98
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $653$653
VIII-12 Total revenueRelated to mission $3,464,256 · Unrelated business $0 · Excluded from tax $98$4,421,944
Part IX · Statement of functional expenses $4,083,064 across 18 lines filed
IX-2 Grants to domestic individualsPrograms $713,874$713,874
IX-5 Pay of current officers, directors and key staffPrograms $169,512 · Management $217,810 · Fundraising $4,581$391,903
IX-7 Other salaries and wagesPrograms $550,294 · Management $707,087 · Fundraising $14,872$1,272,253
IX-8 Pension plan contributionsPrograms $17,061 · Management $21,921 · Fundraising $461$39,443
IX-9 Other employee benefitsPrograms $10,280 · Management $3,247$13,527
IX-10 Payroll taxesPrograms $131,741 · Management $169,279 · Fundraising $3,560$304,580
IX-11b Legal feesPrograms $31,920 · Management $10,080$42,000
IX-11c Accounting feesPrograms $28,194 · Management $8,903$37,097
IX-11g Other fees for servicesPrograms $31,540 · Management $9,960$41,500
IX-12 Advertising and promotionPrograms $194,201 · Management $61,327$255,528
IX-13 Office expensesPrograms $101,366 · Management $36,816 · Fundraising $134$138,316
IX-14 Information technologyPrograms $42,834 · Management $13,527$56,361
IX-16 OccupancyPrograms $284,924 · Management $89,976$374,900
IX-17 TravelPrograms $55 · Management $17$72
IX-19 Conferences, conventions and meetingsPrograms $501 · Management $159$660
IX-22 Depreciation, depletion and amortizationPrograms $38,151 · Management $12,049$50,200
IX-23 InsurancePrograms $27,142 · Management $8,572$35,714
IX-24 Other expenses (24a–d)Programs $237,380 · Management $77,680 · Fundraising $76$315,136
IX-25 Total functional expensesPrograms $2,610,970 · Management $1,448,410 · Fundraising $23,684$4,083,064
Part X · Balance sheet $4,254,974 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $685,980$931,727
X-2 Savings and temporary cash investmentsStart of year $1,107,207$1,507,296
X-3 Pledges and grants receivableStart of year $8,282$1,168,425
X-4 Accounts receivableStart of year $1,586,279$526,254
X-9 Prepaid expenses and deferred chargesStart of year $29,315$34,386
X-10c Land, buildings and equipment, netStart of year $134,643$86,886
X-16 Total assetsStart of year $3,551,706$4,254,974
X-17 Accounts payable and accrued expensesStart of year $113,273$157,853
X-19 Deferred revenueStart of year $573,656$479,264
X-24 Unsecured notes and loans payableStart of year $414,200$828,400
X-25 Other liabilitiesStart of year $10,000$10,000
X-26 Total liabilitiesStart of year $1,111,129$1,475,517
X-27 Net assets without donor restrictionsStart of year $2,440,577$2,779,457
X-32 Total net assets or fund balancesStart of year $2,440,577$2,779,457
X-33 Total liabilities and net assetsStart of year $3,551,706$4,254,974
Part XI · Reconciliation of net assets $2,779,457 net assets at year end
XI-1 Total revenue$4,421,944
XI-2 Total expenses$4,083,064
XI-3 Revenue less expenses$338,880
XI-4 Net assets at start of year$2,440,577
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,779,457

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

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