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Willow Wood Pre-School FY2024 filing

Tax-deductible

Winnetka, IL501(c)(3) EIN 36-2656049Revenue $1.0M in FY2024

On file with the IRSwillowwood-preschool.org684 Oak St, 60093-2522 · Winnetka, ILTax-exempt since Nov 1968School — 170(b)(1)(A)(ii)

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Willow Wood preschool provides a warm, nuturing environment for young children to develop socially, emotionally, physically and intellectually under the guidance of a staff that is highly experienced in the field of child development.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
$117K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2024 · 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 $140K a year · 16% 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
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$117K
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
3 mo
of spending, in cash
Plus $2.6M in investments, Pt X · Ln 11–13
Looks good: 3.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.0M
32% of total assets
Looks good: liabilities are 32% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 19 voting members
Looks good: 18 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
+16% vs prior year
Spent
$892K
To programs
90%
Net assets
$2.2M
By yearFY2020–FY2025
Revenue
$1.0M
FY2024▲ +16%
Tap a bar for its year
Revenue by fiscal year
FY2020$619K
FY2021$790K
FY2022$1.0M
FY2023$863K
FY2024$1.0M
FY2025$1.1M
Expenses
$892K
FY2024▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2020$553K
FY2021$613K
FY2022$793K
FY2023$785K
FY2024$892K
FY2025$922K
Net assets
$2.2M
FY2024▲ +21%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$1.6M
FY2022$1.6M
FY2023$1.8M
FY2024$2.2M
FY2025$2.4M

From the FY2024 Form 990 (year ending July 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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 Nov 1968.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $801K Management & general 10% · $91K

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

19 people listed on the 990; $117K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Susan Cornelo
Executive Director
$117,273Pt VII · Sec A
Carolyn Lanctot
VP Operations
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Alex Kurucz
VP Marketing
$0Pt VII · Sec A
Emily Levert
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Susan Cornelo$123,550$117,273$107,823$89,916$85,117$81,687

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

Nurtures young children's social, emotional, physical, and intellectual growth in a warm environment.

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Provided by the organization

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1 program · $801K · in their own filed words · FY2023
01

Children's preschool programs

$801Kprogram 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 · FY2024
Fidelity FoundationFY2024$1K
Total grants receivedfrom 1 funder$1K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.0M
Ln 12
Fees for servicesLn 2g$871K
Investment incomeLn 3$108K
Other incomeLn 4–11$14K
Money outPt IX
$892K
Ln 25
Programscol B$801K
Managementcol C$91K
Owns and owesPt X
$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$235K
Total assetsLn 16$3.2M
LiabilitiesLn 26$1.0M
PeoplePt VI, VII
19
listed · VII A
PaidVII A1
Voting boardVI 1a19
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8K
Fees for servicesLn 2g$871K
Investment incomeLn 3$108K
Other incomeLn 4–11$14K
Gains on assetsLn 7$46K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$23K
SavingsLn 2$212K
Cash and savings togetherLn 1–2$235K
InvestmentsLn 11–13$2.6M
Land, buildings, equipmentLn 10c$148K
Other assetsLn 15$247K
Total assetsLn 16$3.2M
LiabilitiesLn 26$1.0M
Net assetsLn 32$2.2M
OperationsPt I, VI
EmployeesI 530
VolunteersI 60
Fiscal year endsHeaderJuly
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$174K$235K
InvestmentsLn 11–13$2.3M$2.6M
Land, buildings, equipmentLn 10c$132K$148K
Total assetsLn 16$2.9M$3.2M
LiabilitiesLn 26$1.1M$1.0M
Net assetsLn 32$1.8M$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$598K$539K$59K
Other employee benefitsLn 9$43K$39K$4K
Payroll taxesLn 10$43K$39K$4K
Accounting feesLn 11c$5K$5K
Other fees for servicesLn 11g$1K$960$100
Advertising and promotionLn 12$4K$4K
OccupancyLn 16$90K$90K
Depreciation, depletion and amortizationLn 22$20K$20K
InsuranceLn 23$10K$10K
Other expenses (24a–d)Ln 24$68K$55K$13K
All other expensesLn 24e$10K$8K$1K
Total functional expensesLn 25$892K$801K$91K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.1M$922K$189K$2.4M 990 PDF
FY2024 Viewing $1.0M$892K$110K$2.2M 990 PDF
FY2023 $863K$785K$78K$1.8M 990 PDF
FY2022 $1.0M$793K$220K$1.6M 990 PDF
FY2021 $790K$613K$177K$1.6M 990 PDF
FY2020 $619K$553K$66K$1.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,001,291 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$8,500
I-9 Program service revenuePrior year $855,557$871,376
I-10 Investment incomePrior year −$20,755$107,681
I-11 Other revenuePrior year $28,407$13,734
I-12 Total revenuePrior year $863,209$1,001,291
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $601,734$684,565
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $183,392$207,016
I-18 Total expensesPrior year $785,126$891,581
I-19 Revenue less expensesPrior year $78,083$109,710
Part VI · Governance 18 of 19 board members independent, 1 to look at
VI-1a Voting members of the governing body19
VI-1b Independent voting members18
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,001,291 across 8 lines filed
VIII-1f All other contributions, gifts and grants$8,500
VIII-1h Total contributions, gifts and grants$8,500
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $871,376$871,376
VIII-3 Investment incomeRelated to mission $61,848$61,848
VIII-7 Net gain or loss on sales of assetsRelated to mission $45,833$45,833
VIII-8 Net income from fundraising eventsExcluded from tax $12,834$12,834
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $900$900
VIII-12 Total revenueRelated to mission $979,957 · Unrelated business $0 · Excluded from tax $12,834$1,001,291
Part IX · Statement of functional expenses $891,581 across 11 lines filed
IX-7 Other salaries and wagesPrograms $539,193 · Management $58,637$597,830
IX-9 Other employee benefitsPrograms $39,102 · Management $4,253$43,355
IX-10 Payroll taxesPrograms $39,124 · Management $4,256$43,380
IX-11c Accounting feesManagement $5,374$5,374
IX-11g Other fees for servicesPrograms $960 · Management $100$1,060
IX-12 Advertising and promotionManagement $3,552$3,552
IX-16 OccupancyPrograms $89,609$89,609
IX-22 Depreciation, depletion and amortizationPrograms $20,034$20,034
IX-23 InsurancePrograms $9,961$9,961
IX-24 Other expenses (24a–d)Programs $54,656 · Management $13,171$67,827
IX-24e All other expensesPrograms $8,214 · Management $1,385$9,599
IX-25 Total functional expensesPrograms $800,853 · Management $90,728 · Fundraising $0$891,581
Part X · Balance sheet $3,235,852 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $87,133$22,741
X-2 Savings and temporary cash investmentsStart of year $86,977$211,888
X-10c Land, buildings and equipment, netStart of year $131,926$147,698
X-11 Publicly traded securitiesStart of year $2,335,716$2,606,974
X-15 Other assetsStart of year $308,189$246,551
X-16 Total assetsStart of year $2,949,941$3,235,852
X-25 Other liabilitiesStart of year $1,132,243$1,040,451
X-26 Total liabilitiesStart of year $1,132,243$1,040,451
X-27 Net assets without donor restrictionsStart of year $1,817,698$2,195,401
X-32 Total net assets or fund balancesStart of year $1,817,698$2,195,401
X-33 Total liabilities and net assetsStart of year $2,949,941$3,235,852
Part XI · Reconciliation of net assets $2,195,401 net assets at year end
XI-1 Total revenue$1,001,291
XI-2 Total expenses$891,581
XI-3 Revenue less expenses$109,710
XI-4 Net assets at start of year$1,817,698
XI-5 Net unrealized gains (losses) on investments$267,993
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,195,401

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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