Chicago Tabernacle Title Holding FY2021 filing

IRS exemption revoked

Chicago, ILUnknown exempt organizationEIN 47-3695502Revenue $208K in FY2021

On file with the IRS3231 N Cicero Avenue · Chicago, IL

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Chicago Tabernacle Title Holding corporation (ctthc) was organized for the exclusive purpose of Holding Title to the church land and building located at 3215-3233 n. Cicero avenue, Chicago, illinois (3231 cicero), renting the property to Chicago Tabernacle of the assemblies of god (ctaog), paying debt service and expenses relating to the property, and remitting all remaining proceeds to ctaog.

Mission: Form 990 Part I, line 1

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Liabilities
$9.7M
120% of total assets
Concern: liabilities are 120% of assets; over 80%.
Pt X · Ln 26
Independent board members
1
of 3 voting members
Worth a look: 1 of 3 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$208K
Spent
$661K
Net assets
−$1.6M
By yearFY2021–FY2021
Revenue
$208K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$208K
FY2021$1.6M
Expenses
$661K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$661K
FY2021$0
Net assets
−$1.6M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021−$1.6M
FY2021$0

From the FY2021 Form 990 (year ending June 2021) · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on January 15, 2018
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2021) →

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2021.

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

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Board Member
$0Pt VII · Sec A
Board Member, Ctaog Lead Pastor
$0Pt VII · Sec A
Board Member, Ctaog Assoc. Pastor
$0Pt VII · Sec A
See Chicago Tabernacle Title Holding 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 15aNo

Programs and updates

Holds title to church property, rents it, pays expenses, and remits profits to the church.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Chicago tabernacle title holding corporation (CTTHC) was organized for the exclusive purpose of holding title to the church land and building located at 3215-3233 n. Cicero avenue, chicago, illinois (3231 cicero), renting the property to chicago tabernacle of the assemblies of god (ctaog), paying debt service and expenses relating to the…

Pt IX · col B

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 · 1 grant · $86K · 2020–2020

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$208K
Ln 12
Fees for servicesLn 2g$206K
Investment incomeLn 3$2K
Money outPt IX
$661K
Ln 25
Owns and owesPt X
−$1.6M
net assets · Ln 32
Total assetsLn 16$8.1M
LiabilitiesLn 26$9.7M
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$206K
Investment incomeLn 3$2K
Total revenueLn 12$208K
Assets in detailPt X, end of year
CashLn 1$0
Land, buildings, equipmentLn 10c$7.9M
Other assetsLn 15$110K
Total assetsLn 16$8.1M
LiabilitiesLn 26$9.7M
Net assetsLn 32−$1.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
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 FY21End FY21
Cash and savingsLn 1–2$11K$0
Land, buildings, equipmentLn 10c$8.1M$7.9M
Total assetsLn 16$8.5M$8.1M
LiabilitiesLn 26$9.6M$9.7M
Net assetsLn 32−$1.1M−$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$86K
InterestLn 20$363K
Depreciation, depletion and amortizationLn 22$213K
Other expenses (24a–d)Ln 24$35
Total functional expensesLn 25$661K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Viewing $208K$661K−$453K−$1.6M 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 (6 parts)
Part I · Summary $207,781 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $205,000$206,000
I-10 Investment incomePrior year $0$1,781
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $205,000$207,781
I-13 Grants and similar amounts paidPrior year $84,500$85,532
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $407,011$575,702
I-18 Total expensesPrior year $491,511$661,234
I-19 Revenue less expensesPrior year −$286,511−$453,453
Part VI · Governance 1 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members1
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 $207,781 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $206,000$206,000
VIII-3 Investment incomeRelated to mission $1,781$1,781
VIII-12 Total revenueRelated to mission $207,781 · Unrelated business $0 · Excluded from tax $0$207,781
Part IX · Statement of functional expenses $661,234 across 4 lines filed
IX-1 Grants to domestic organizations$85,532
IX-20 Interest$362,990
IX-22 Depreciation, depletion and amortization$212,677
IX-24 Other expenses (24a–d)$35
IX-25 Total functional expenses$661,234
Part X · Balance sheet $8,144,731 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $10,739$0
X-10c Land, buildings and equipment, netStart of year $8,105,021$7,938,027
X-14 Intangible assetsStart of year $312,225$97,082
X-15 Other assetsStart of year $51,500$109,622
X-16 Total assetsStart of year $8,479,485$8,144,731
X-25 Other liabilitiesStart of year $100,412$8,964,662
X-26 Total liabilitiesStart of year $9,624,490$9,743,189
X-27 Net assets without donor restrictionsStart of year −$1,145,005−$1,598,458
X-32 Total net assets or fund balancesStart of year −$1,145,005−$1,598,458
X-33 Total liabilities and net assetsStart of year $8,479,485$8,144,731
Part XI · Reconciliation of net assets −$1,598,458 net assets at year end
XI-1 Total revenue$207,781
XI-2 Total expenses$661,234
XI-3 Revenue less expenses−$453,453
XI-4 Net assets at start of year−$1,145,005
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,598,458

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

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