Robert R McCormick Foundation FY2022 filing

Tax-deductible

Chicago Il, IL501(c)(3)Since 1989EIN 36-3689172

Operation of cantigny park, golf, mccormick house and first division museum (continued in sch o)in wheaton, illinois. Honor and uphold the last will and testament of col. Robert r. Mccormick.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$2.4M 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

FY2022 · 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
4 of 5
filings with a surplus
Average surplus $23.3M a year · 42% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.4M
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
48 mo
of spending, in cash
Looks good: 47.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$69.2M
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$50.9M
+118% vs prior year
Spent
$31.5M
To programs
82%
Net assets
$380.8M
By yearFY2020–FY2024
Revenue
$50.9M
FY2022▲ +118%
Revenue by fiscal year
FY2020$50.0M
FY2021$23.3M
FY2022$50.9M
FY2023$50.1M
FY2024$100.2M
Expenses
$31.5M
FY2022▲ +18%
Expenses by fiscal year
FY2020$23.8M
FY2021$26.6M
FY2022$31.5M
FY2023$37.1M
FY2024$39.1M
Net assets
$380.8M
FY2022▼ -9%
Net assets by fiscal year
FY2020$398.1M
FY2021$420.6M
FY2022$380.8M
FY2023$429.3M
FY2024$477.8M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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 Mar 1990.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $25.9M Management & general 18% · $5.7M

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

Who runs it and what they're paid

20 people listed on the 990; $2.4M paid to officers and key staff.

Part VII, Section A · reportable compensation
SR. Vice President of Operations
$477,961Pt VII · Sec A
CEO & President
$285,873Pt VII · Sec A
$239,082Pt VII · Sec A
Executive Director, Cantigny Park
$201,767Pt VII · Sec A
Senior Director of Human Resources
$194,754Pt VII · Sec A
SR. Director of Strategy & Planning
$176,691Pt VII · Sec A
Director of Facilities
$153,681Pt VII · Sec A
Director of Natural Areas & Grounds
$145,716Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2023FY2022FY2021FY2020
Louis J Marsico JR—$477,961$324,109$314,355
Timothy Knight$233,244$285,873$126,341—
Kimberely Tyler$170,832$239,082——
Matthew Lafond$204,991$201,767$195,117—
Oscar Regalado$104,216$194,754$71,047$69,727
Krewasky Salter——$193,615$153,115
Mathew Lafond———$190,014
Akaose Kachikwu$180,971$139,853$99,928—

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

Operates Cantigny Park, golf, McCormick House, and First Division Museum, honoring Col. McCormick's legacy.

Provided by the organization

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1 program service account for $25.9M of program spending, described in the organization's own filed words · FY2022.
01

Operation of cantigny park. Park operations include a museum, a 27-HOLE golf course, golf learning center, 9-HOLE youth golf course, clubhouse, extensive gardens, a greenhouse, hiking trails, children's playground, visitor center, and restaurants.

$25.9Mprogram 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 · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$50.9M
Ln 12
Gifts and grantsLn 1h$20.6M
Investment incomeLn 3$19.0M
Fees for servicesLn 2g$5.9M
Money outPt IX
$31.5M
Ln 25
Programscol B$25.9M
Managementcol C$5.7M
Owns and owesPt X
$380.8M
net assets · Ln 32
Cash and savingsLn 1–2$125.3M
Total assetsLn 16$450.0M
LiabilitiesLn 26$69.2M
PeoplePt VI, VII
20
listed · VII A
PaidVII A20
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$20.6M
Fees for servicesLn 2g$5.9M
Investment incomeLn 3$19.0M
Other incomeLn 4–11$5.4M
Gains on assetsLn 7$14.3M
Total revenueLn 12$50.9M
Assets in detailPt X, end of year
CashLn 1$27K
SavingsLn 2$125.3M
Cash and savings togetherLn 1–2$125.3M
InvestmentsLn 11–13$247.8M
Land, buildings, equipmentLn 10c$69.8M
Other assetsLn 15$5.7M
Total assetsLn 16$450.0M
LiabilitiesLn 26$69.2M
Net assetsLn 32$380.8M
OperationsPt I, VI
EmployeesI 5155
VolunteersI 6149
Fiscal year endsHeaderDecember
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 FY22End FY22
Cash and savingsLn 1–2$115.2M$125.3M
InvestmentsLn 11–13$299.6M$247.8M
Land, buildings, equipmentLn 10c$62.4M$69.8M
Total assetsLn 16$482.1M$450.0M
LiabilitiesLn 26$61.5M$69.2M
Net assetsLn 32$420.6M$380.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$1.9M$1.2M$655K
Other salaries and wagesLn 7$7.3M$4.7M$2.6M
Pension plan contributionsLn 8$923K$623K$300K
Other employee benefitsLn 9$1.5M$1.2M$323K
Payroll taxesLn 10$623K$460K$163K
Management feesLn 11a$6.1M$6.1M
Legal feesLn 11b$107K$107K
Accounting feesLn 11c$153K$153K
Investment management feesLn 11f$138K$138K
Other fees for servicesLn 11g$1.1M$922K$162K
Advertising and promotionLn 12$94K$6K$88K
Office expensesLn 13$269K$258K$12K
Information technologyLn 14$403K$4K$399K
OccupancyLn 16$2.7M$2.6M$83K
TravelLn 17$67K$49K$18K
Conferences, conventions and meetingsLn 19$123K$90K$33K
InterestLn 20$1.5M$1.5M
Depreciation, depletion and amortizationLn 22$5.5M$5.5M
InsuranceLn 23$502K$502K
Other expenses (24a–d)Ln 24$513K$488K$25K
All other expensesLn 24e$36K$15K$20K
Total functional expensesLn 25$31.5M$25.9M$5.7M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $100.2M$39.1M$61.1M$477.8M 990 PDF
FY2023 $50.1M$37.1M$12.9M$429.3M 990 PDF
FY2022 Viewing $50.9M$31.5M$19.3M$380.8M 990 PDF
FY2021 $23.3M$26.6M−$3.3M$420.6M 990 PDF
FY2020 $50.0M$23.8M$26.2M$398.1M 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $50,851,823 across 9 lines filed
Lines not itemized here account for $4,664,497 of total revenue; see the IRS return.
VIII-1d Related organizations$20,460,897
VIII-1f All other contributions, gifts and grants$113,654
VIII-1h Total contributions, gifts and grants$20,574,551
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,936,073$5,936,073
VIII-3 Investment incomeExcluded from tax $4,675,021$4,675,021
VIII-6 Net rental income or lossExcluded from tax $696,319$696,319
VIII-7 Net gain or loss on sales of assetsExcluded from tax $14,276,549$14,276,549
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $28,813$28,813
VIII-12 Total revenueRelated to mission $5,936,073 · Unrelated business $3,088,120 · Excluded from tax $21,253,079$50,851,823
Part IX · Statement of functional expenses $31,529,775 across 21 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $1,208,016 · Management $654,682$1,862,698
IX-7 Other salaries and wagesPrograms $4,717,429 · Management $2,607,160$7,324,589
IX-8 Pension plan contributionsPrograms $622,807 · Management $299,940$922,747
IX-9 Other employee benefitsPrograms $1,202,629 · Management $323,297$1,525,926
IX-10 Payroll taxesPrograms $459,619 · Management $162,884$622,503
IX-11a Management feesPrograms $6,089,165$6,089,165
IX-11b Legal feesManagement $106,902$106,902
IX-11c Accounting feesManagement $152,697$152,697
IX-11f Investment management feesPrograms $138,185$138,185
IX-11g Other fees for servicesPrograms $921,612 · Management $161,580$1,083,192
IX-12 Advertising and promotionPrograms $5,625 · Management $88,428$94,053
IX-13 Office expensesPrograms $257,779 · Management $11,514$269,293
IX-14 Information technologyPrograms $3,658 · Management $399,435$403,093
IX-16 OccupancyPrograms $2,602,874 · Management $83,404$2,686,278
IX-17 TravelPrograms $48,567 · Management $18,228$66,795
IX-19 Conferences, conventions and meetingsPrograms $90,280 · Management $33,207$123,487
IX-20 InterestPrograms $1,458,507$1,458,507
IX-22 Depreciation, depletion and amortizationPrograms $5,548,587$5,548,587
IX-23 InsuranceManagement $502,181$502,181
IX-24 Other expenses (24a–d)Programs $488,023 · Management $25,353$513,376
IX-24e All other expensesPrograms $15,108 · Management $20,413$35,521
IX-25 Total functional expensesPrograms $25,878,470 · Management $5,651,305 · Fundraising $0$31,529,775
Part X · Balance sheet $450,019,790 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $19,573$27,089
X-2 Savings and temporary cash investmentsStart of year $115,210,655$125,280,455
X-4 Accounts receivableStart of year $500,830$389,204
X-8 Inventories for sale or useStart of year $290,939$349,305
X-9 Prepaid expenses and deferred chargesStart of year $571,355$660,353
X-10c Land, buildings and equipment, netStart of year $62,396,947$69,817,004
X-11 Publicly traded securitiesStart of year $6,254,271$6,267,790
X-12 Other securitiesStart of year $293,353,401$241,560,217
X-15 Other assetsStart of year $3,457,775$5,668,373
X-16 Total assetsStart of year $482,055,746$450,019,790
X-17 Accounts payable and accrued expensesStart of year $10,887,031$10,530,100
X-20 Tax-exempt bond liabilitiesStart of year $50,321,438$57,642,181
X-25 Other liabilitiesStart of year $277,065$1,055,971
X-26 Total liabilitiesStart of year $61,485,534$69,228,252
X-27 Net assets without donor restrictionsStart of year $419,731,212$379,952,538
X-28 Net assets with donor restrictionsStart of year $839,000$839,000
X-32 Total net assets or fund balancesStart of year $420,570,212$380,791,538
X-33 Total liabilities and net assetsStart of year $482,055,746$450,019,790
Part XI · Reconciliation of net assets $380,791,538 net assets at year end
XI-1 Total revenue$50,851,823
XI-2 Total expenses$31,529,775
XI-3 Revenue less expenses$19,322,048
XI-4 Net assets at start of year$420,570,212
XI-5 Net unrealized gains (losses) on investments−$59,169,738
XI-8 Prior period adjustments$69,016
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$380,791,538

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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