Plato Academy Incorporated

Tax-deductible

Des Plaines, IL501(c)(3)EducationEIN 36-4246600Revenue $1.1M in FY2023

On file with the IRS915 Lee St, 60016-6545 · Des Plaines, ILTax-exempt since Mar 1999School — 170(b)(1)(A)(ii)

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Elementary and religious education

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
$33K 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

FY2023 · 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
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $21K a year · 2% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
75%
of spending
Fine: 75% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$33K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $6K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.7M
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
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
$1.1M
+16% vs prior year
Spent
$1.0M
To programs
75%
Net assets
$351K
By yearFY2020–FY2023
Revenue
$1.1M
FY2023▲ +16%
Tap a bar for its year
Revenue by fiscal year
FY2020$658K
FY2021$1.2M
FY2022$915K
FY2023$1.1M
Expenses
$1.0M
FY2023▲ +18%
Tap a bar for its year
Expenses by fiscal year
FY2020$988K
FY2021$882K
FY2022$851K
FY2023$1.0M
Net assets
$351K
FY2023▲ +67%
Tap a bar for its year
Net assets by fiscal year
FY2020$0
FY2021$137K
FY2022$210K
FY2023$351K

From the FY2023 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Mar 1999.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $751K Management & general 25% · $251K

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

3 people listed on the 990; $33K paid to officers and key staff.

Part VII, Section A · reportable compensation
$33,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

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

NameFY2023FY2022FY2021FY2020
Marianthi Koritsaris$33,000$29,117$31,986$42,872

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 15aNo

Programs and updates

Provides elementary and religious education to children.

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Provided by the organization

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1 program · $751K · in their own filed words · FY2023
01

Provided elementary, religious, and cultural education to 52 students increasing the knowledge and awareness of their greek heritage, religion, and language.

$751Kprogram 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
Total grants receivedfrom 2 funders$6K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.1M
Ln 12
Fees for servicesLn 2g$782K
Gifts and grantsLn 1h$265K
Other incomeLn 4–11$9K
Money outPt IX
$1.0M
Ln 25
Programscol B$751K
Managementcol C$251K
Owns and owesPt X
$351K
net assets · Ln 32
Cash and savingsLn 1–2$137K
Total assetsLn 16$2.0M
LiabilitiesLn 26$1.7M
PeoplePt VI, VII
3
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$265K
Fundraising eventsLn 1c$186K
Fees for servicesLn 2g$782K
Other incomeLn 4–11$9K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$137K
Cash and savings togetherLn 1–2$137K
Land, buildings, equipmentLn 10c$1.9M
Total assetsLn 16$2.0M
LiabilitiesLn 26$1.7M
Net assetsLn 32$351K
OperationsPt I, VI
EmployeesI 519
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$15K$137K
Land, buildings, equipmentLn 10c$2.0M$1.9M
Total assetsLn 16$2.0M$2.0M
LiabilitiesLn 26$1.8M$1.7M
Net assetsLn 32$210K$351K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$33K$0$33K$0
Other salaries and wagesLn 7$550K$550K$0$0
InterestLn 20$77K$0$77K$0
Depreciation, depletion and amortizationLn 22$43K$0$43K$0
InsuranceLn 23$14K$0$14K$0
Other expenses (24a–d)Ln 24$285K$201K$83K$0
Total functional expensesLn 25$1.0M$751K$251K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $1.1M$1.0M$55K$351K 990 PDF
FY2022 $915K$851K$63K$210K 990 PDF
FY2021 $1.2M$882K$294K$137K 990 PDF
FY2020 $658K$988K−$330K$0 990 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 FY2023 990 (6 parts)
Part I · Summary $1,057,304 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $201,512$265,488
I-9 Program service revenuePrior year $691,841$782,366
I-10 Investment income$0
I-11 Other revenuePrior year $21,250$9,450
I-12 Total revenuePrior year $914,603$1,057,304
I-13 Grants and similar amounts paidPrior year $660$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $489,763$583,117
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $360,718$418,797
I-18 Total expensesPrior year $851,141$1,001,914
I-19 Revenue less expensesPrior year $63,462$55,390
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,057,304 across 6 lines filed
Lines not itemized here account for $1,666 of total revenue; see the IRS return.
VIII-1c Fundraising events$186,012
VIII-1f All other contributions, gifts and grants$79,476
VIII-1h Total contributions, gifts and grants$265,488
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$780,700
VIII-6 Net rental income or lossUnrelated business $9,450$9,450
VIII-12 Total revenueRelated to mission $782,366 · Unrelated business $9,450 · Excluded from tax $0$1,057,304
Part IX · Statement of functional expenses $1,001,914 across 6 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $33,000 · Fundraising $0$33,000
IX-7 Other salaries and wagesPrograms $550,117 · Management $0 · Fundraising $0$550,117
IX-20 InterestPrograms $0 · Management $76,928 · Fundraising $0$76,928
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $43,218 · Fundraising $0$43,218
IX-23 InsurancePrograms $0 · Management $14,048 · Fundraising $0$14,048
IX-24 Other expenses (24a–d)Programs $201,164 · Management $83,439 · Fundraising $0$284,603
IX-25 Total functional expensesPrograms $751,281 · Management $250,633 · Fundraising $0$1,001,914
Part X · Balance sheet $2,046,644 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $15,086$137,297
X-10c Land, buildings and equipment, netStart of year $1,951,965$1,909,347
X-16 Total assetsStart of year $1,967,051$2,046,644
X-26 Total liabilitiesStart of year $1,756,694$1,695,851
X-27 Net assets without donor restrictionsStart of year $210,357$350,793
X-32 Total net assets or fund balancesStart of year $210,357$350,793
X-33 Total liabilities and net assetsStart of year $1,967,051$2,046,644
Part XI · Reconciliation of net assets $350,793 net assets at year end
XI-1 Total revenue$1,057,304
XI-2 Total expenses$1,001,914
XI-3 Revenue less expenses$55,390
XI-4 Net assets at start of year$210,357
XI-10 Net assets at end of year$350,793

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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