Quiroga Foundation FY2022 filing

Tax-deductible

Chicago, IL501(c)(3)Since 2013Colleges & UniversitiesEIN 46-3914338

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Inspired by the life and works of catholic bishop and lawyer, don vasco de Quiroga, Quiroga is dedicated to the integrate deducational formation of persons.

501(c)(3) charity; gifts are tax-deductible.
46¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
1 of 5
filings with a surplus
Average surplus $434K a year · 44% of revenue · last 5 filings
Worth a look: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
46%
of spending
Concern: 46% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$23K
6% of total assets
Looks good: liabilities are 6% 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
$3.2M
+795% vs prior year
Spent
$578K
To programs
46%
Net assets
$365K
By yearFY2020–FY2024
Revenue
$3.2M
FY2022▲ +795%
Revenue by fiscal year
FY2020$161K
FY2021$363K
FY2022$3.2M
FY2023$567K
FY2024$574K
FY2024$176K
Expenses
$578K
FY2022▲ +15%
Expenses by fiscal year
FY2020$460K
FY2021$504K
FY2022$578K
FY2023$620K
FY2024$578K
FY2024$537K
Net assets
$365K
FY2022▲ +117%
Net assets by fiscal year
FY2020−$1.9M
FY2021−$2.1M
FY2022$365K
FY2023$285K
FY2024$254K
FY2024−$355K

From the FY2022 Form 990 (year ending June 2022) · 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 Sep 2014.

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

Where the money goes

46 cents of each dollar spent went to programs.

Program services 46% · $268K Management & general 54% · $309K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Quiroga Foundation 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 15aYes

Programs and updates

Provides integrated educational formation inspired by Bishop Don Vasco de Quiroga's life and works.

Provided by the organization

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1 program · $268K · in their own filed words · FY2021
01

Higher Education Programs

Quiroga College's Associates in Applied Science are higher education programs, consisting of 60 credits that award an Associate Degree in one of the following areas: Family Early Childhood Education, Business, Culinary Arts.

$268Kprogram expense

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$3.2M
Ln 12
Gifts and grantsLn 1h$3.2M
Fees for servicesLn 2g$77K
Other incomeLn 4–11$4K
Money outPt IX
$578K
Ln 25
Programscol B$268K
Managementcol C$309K
Owns and owesPt X
$365K
net assets · Ln 32
Cash and savingsLn 1–2$27K
Total assetsLn 16$388K
LiabilitiesLn 26$23K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.2M
Government grantsLn 1e$35K
Fees for servicesLn 2g$77K
Other incomeLn 4–11$4K
Total revenueLn 12$3.2M
Assets in detailPt X, end of year
CashLn 1$27K
Cash and savings togetherLn 1–2$27K
Land, buildings, equipmentLn 10c$175K
Other assetsLn 15$7K
Total assetsLn 16$388K
LiabilitiesLn 26$23K
Net assetsLn 32$365K
OperationsPt I, VI
EmployeesI 57
VolunteersI 60
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 FY22End FY22
Cash and savingsLn 1–2$41K$27K
Land, buildings, equipmentLn 10c$206K$175K
Total assetsLn 16$415K$388K
LiabilitiesLn 26$2.5M$23K
Net assetsLn 32−$2.1M$365K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$185K$87K$98K$0
Payroll taxesLn 10$14K$7K$8K$0
Legal feesLn 11b$37K$0$37K$0
Accounting feesLn 11c$23K$0$23K$0
Other fees for servicesLn 11g$106K$83K$22K$0
Advertising and promotionLn 12$16K$0$16K$0
Office expensesLn 13$14K$164$14K$0
Information technologyLn 14$5K$0$5K$0
OccupancyLn 16$81K$47K$34K$0
TravelLn 17$2K$0$2K$0
Depreciation, depletion and amortizationLn 22$52K$37K$14K$0
InsuranceLn 23$7K$4K$3K$0
Other expenses (24a–d)Ln 24$35K$4K$31K$0
All other expensesLn 24e$3K$0$3K$0
Total functional expensesLn 25$578K$268K$309K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $574K$578K−$4K$254K 990 PDF
FY2023 $567K$620K−$54K$285K 990 PDF
FY2022 Viewing $3.2M$578K$2.7M$365K 990 PDF
FY2021 $363K$504K−$141K−$2.1M 990 PDF
FY2020 $161K$460K−$299K−$1.9M 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 $3,247,271 across 6 lines filed
VIII-1e Government grants$34,850
VIII-1f All other contributions, gifts and grants$3,131,487
VIII-1h Total contributions, gifts and grants$3,166,337
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$76,539
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $4,395 · Unrelated business $0 · Excluded from tax $0$4,395
VIII-12 Total revenueRelated to mission $80,934 · Unrelated business $0 · Excluded from tax $0$3,247,271
Part IX · Statement of functional expenses $577,531 across 14 lines filed
IX-7 Other salaries and wagesPrograms $86,533 · Management $98,203 · Fundraising $0$184,736
IX-10 Payroll taxesPrograms $6,752 · Management $7,747 · Fundraising $0$14,499
IX-11b Legal feesPrograms $0 · Management $36,648 · Fundraising $0$36,648
IX-11c Accounting feesPrograms $0 · Management $23,252 · Fundraising $0$23,252
IX-11g Other fees for servicesPrograms $83,167 · Management $22,361 · Fundraising $0$105,528
IX-12 Advertising and promotionPrograms $0 · Management $15,976 · Fundraising $0$15,976
IX-13 Office expensesPrograms $164 · Management $13,854 · Fundraising $0$14,018
IX-14 Information technologyPrograms $0 · Management $4,716 · Fundraising $0$4,716
IX-16 OccupancyPrograms $46,721 · Management $34,349 · Fundraising $0$81,070
IX-17 TravelPrograms $0 · Management $1,698 · Fundraising $0$1,698
IX-22 Depreciation, depletion and amortizationPrograms $37,455 · Management $14,186 · Fundraising $0$51,641
IX-23 InsurancePrograms $3,823 · Management $2,810 · Fundraising $0$6,633
IX-24 Other expenses (24a–d)Programs $3,600 · Management $30,978 · Fundraising $0$34,578
IX-24e All other expensesPrograms $0 · Management $2,538 · Fundraising $0$2,538
IX-25 Total functional expensesPrograms $268,215 · Management $309,316 · Fundraising $0$577,531
Part X · Balance sheet $387,849 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $41,094$26,652
X-4 Accounts receivableStart of year $160,153$178,213
X-9 Prepaid expenses and deferred charges$264
X-10c Land, buildings and equipment, netStart of year $206,362$175,413
X-15 Other assetsStart of year $7,308$7,307
X-16 Total assetsStart of year $414,917$387,849
X-17 Accounts payable and accrued expensesStart of year $63,935$23,312
X-26 Total liabilitiesStart of year $2,519,961$23,312
X-27 Net assets without donor restrictionsStart of year −$2,105,044$364,537
X-32 Total net assets or fund balancesStart of year −$2,105,044$364,537
X-33 Total liabilities and net assetsStart of year $414,917$387,849
Part XI · Reconciliation of net assets $364,537 net assets at year end
XI-1 Total revenue$3,247,271
XI-2 Total expenses$577,531
XI-3 Revenue less expenses$2,669,740
XI-4 Net assets at start of year−$2,105,044
XI-9 Other changes in net assets−$200,159
XI-10 Net assets at end of year$364,537

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

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