2021-04-22T17:32:14-05:00 2020-06-30 111986323 MARCUM LLP 9 PARKWAY NORTH SUITE 200 DEERFIELD IL 60015 990 2019-07-01 363900221 LESLIE SHANKMAN SCHOOL CORPORATION LESL 7734202883 6254 S ELLIS AVENUE CHICAGO IL 60637 ABBY SIMON CFO AND CO-EXEC DIRECTOR 7734202883 2021-04-13 1 GEORGE BODENBERG P00434750 8472826300 2019 2022-09-23 18:48:47Z ABBY SIMON 6254 S ELLIS AVENUE CHICAGO IL 60637 19388460 0 X OSCHOOL.ORG X 1993 IL THE ORGANIZATION OPERATES PRIVATE SPECIAL EDUCATION SCHOOLS INCLUDING A DAY SCHOOL FOR CHILDREN WITH LEARNING DISABILITIES WITH AVERAGE TO HIGH IQS AND A DAY AND RESIDENTIAL SCHOOL FOR CHILDREN WITH PSYCHIATRIC AND EMOTIONAL DISORDERS. 10 10 256 15 0 0 719341 1677708 16399725 17262967 397673 -16144328 285962 15191 17802701 2811538 0 0 0 0 13443088 14419401 0 0 0 4970453 3333464 18413541 17752865 -610840 -14941327 39709395 20973909 14486723 11026569 25222672 9947340 X LESLIE SHANKMAN SCHOOL CORPORATION'S MISSION IS TO PROVIDE EDUCATIONAL SERVICES TO STUDENTS WITH SPECIAL NEEDS, SPECIFICALLY THOSE WITH LEARNING DISABILITIES AT THE HYDE PARK DAY SCHOOL OR PSYCHIATRIC AND EMOTIONAL DISORDERS AT THE SONIA SHANKMAN ORTHOGENIC SCHOOLS. 0 0 8463313 10200578 THE ORGANIZATION OPERATES A CO-EDUCATIONAL RESIDENTIAL AND DAY SCHOOL FOR UP TO 80 STUDENTS WITH PROFOUND EMOTIONAL ISSUES WITH AVERAGE TO SUPERIOR INTELLIGENCE. A LARGE MAJORITY OF STUDENTS GRADUATE TO COLLEGE, BACK TO THEIR HOME SCHOOLS OR TO LESS RESTRICTIVE ENVIRONMENTS. THERAPEUTIC AND PSYCHIATRIC SERVICES ARE PROVIDED FOR STUDENTS ATTENDING THE SONIA SHANKMAN ORTHOGENIC SCHOOL. ALTHOUGH THE ORGANIZATION'S PROGRAMS HAVE HAD TO SOMETIMES SHIFT ITS APPROACH TO OFFER REMOTE LEARNING TO STUDENTS, BEGINNING IN MARCH 2020, AS WAS COMMONPLACE ACROSS THE COUNTRY DUE TO THE COVID-19 PANDEMIC, IT HAS BEEN ABLE TO ADAPT QUICKLY AND CONTINUE PROVIDING HIGH-QUALITY SERVICES TO THE STUDENTS. THE PROGRAM HAS CAPACITY FOR UP TO 42 RESIDENTIAL STUDENTS AT THE SONIA SHANKMAN ORTHOGENIC SCHOOL, HOWEVER WITH THE PANDEMIC THIS NUMBER IS LIMITED TO 24 TO ENSURE SOCIAL DISTANCING. DUE TO THE LOWER NUMBER OF RESIDENTIAL STUDENTS, THE PROGRAM ANTICIPATES HAVING UP TO 48 DAY STUDENTS DURING FY 2021 (NORMALLY AROUND 35). 6051865 6630689 THE ORGANIZATION OPERATES THE HYDE PARK DAY SCHOOLS FOR STUDENTS IN GRADES K THROUGH 8 WITH LOCATIONS IN CHICAGO, IL, NORTHFIELD, IL, AND LEMONT, IL FOR UP TO 160 PUPILS WITH LEARNING DISABILITIES WHO ARE OF AVERAGE TO SUPERIOR INTELLIGENCE. THE MAJORITY OF OUR STUDENTS TRANSITION BACK TO A REGULAR SCHOOL AND GO ON TO ATTEND AND COMPLETE COLLEGE. 578438 361350 THE ORGANIZATION PROVIDES BOTH RESIDENTIAL AND DAY TRANSITIONAL AND THERAPEUTIC SERVICES FOR YOUNG ADULTS TRANSITIONING TO COLLEGE AT ITS BROOKE WHITTED CENTER. 70350 THE ORGANIZATION PROVIDES THERAPEUTIC AND PSYCHIATRIC SERVICES FOR STUDENTS AT THE SONIA SHANKMAN ORTHOGENIC SCHOOL. EXPENSES INCURRED FOR THESE SERVICES ARE INCLUDED IN LINES 4A AND 4B ABOVE. 70350 15093616 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 31 0 1 256 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 10 10 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X X ABBY SIMON 7734202883 6254 S ELLIS AVENUE CHICAGO IL 60637 X JANET HOFFMAN PRESIDENT 5.00 2.00 X X 0 0 0 THEODORE CORNELL III VICE PRESIDENT 2.00 X X 0 0 0 SCOTT MCDONALD TREASURER 2.00 X X 0 0 0 PATRICK BORG SECRETARY 1.00 X X 0 0 0 MICHAEL BERTRAND DIRECTOR 1.00 X 0 0 0 JAMES STEINBACK DIRECTOR 3.00 3.00 X 0 0 0 JOANNE STEINBACK DIRECTOR 2.00 X 0 0 0 BRADLEY NARDICK DIRECTOR 1.00 X 0 0 0 PAT DONOHUE DIRECTOR 1.00 X 0 0 0 SONYA MALUNDA DIRECTOR 1.00 X 0 0 0 WALTER CRNICH CO-EXECUTIVE DIRECTOR 40.00 X 188998 0 35480 DIANA KON CO-EXECUTIVE DIRECTOR 40.00 X 195053 0 30044 PETE MYERS CO-EXECUTIVE DIRECTOR 40.00 X 189141 0 29644 ABBY SIMON CFO AND CO-EXEC DIRECTOR 40.00 X 184921 0 34969 TIMOTHY HAMMERLY DEVELOPMENT DIRECTOR 40.00 X 107052 0 24036 MELANIE MITRA PRINCIPAL 40.00 X 124287 0 23052 BARBARA RIVERS NURSE 40.00 X 140982 0 25847 JAY SMITH PRINCIPAL 40.00 X 110188 0 13350 LUZVIMINDA WADE FINANCE MANAGER 40.00 X 105805 0 5503 MICHELLE ZARRILLI PRINCIPAL 40.00 X 102194 0 27299 1448621 0 249224 10 0 1 0 QUEST FOOD MANAGEMENT SERVICES INC 2500 S HIGHLAND AVE 250 LOMBARD IL 60148 FOOD SERVICES 283012 ELBOW GREASE JANITORIAL SERVICE INC 12636 S SPRINGFIELD AVE ALSIP IL 60803 HOUSEKEEPING 212095 ALLIED UNIVERSAL PO BOX 828854 PHILADELPHIA PA 19182 SECURITY 184966 RUSH UNIVERSITY 600 S PAULINA CHICAGO IL 60612 PSYCHIATRIC SERVICES 164954 KENO KOZIE ASSOCIATES LTD 1 NORTH FRANKLIN ST 500 CHICAGO IL 60606 IT SERVICES 109141 5 X 388693 1289015 235616 1677708 SSOS - OPERATING REVENUES 623990 10200578 10200578 HPDS - TUITION 611600 6630689 6630689 WHITTED CENTER - PROGRAM FEES 623990 361350 361350 CLINICAL INCOME 624100 70350 70350 17262967 31652 31652 345567 305279 16216268 40288 -16216268 -16175980 -16216268 40288 12870 388693 55375 -42505 -42505 OTHER INCOME 900099 57696 57696 57696 2811538 1046699 0 87131 813530 428079 385451 10619361 9565851 1053510 490447 452340 38107 1716277 1580974 135303 779786 718254 61532 8892 8892 105232 105232 1105982 1063802 42180 220765 210242 10523 196468 188877 7591 96512 96512 GENERAL/ADMINISTRATIVE 727510 330514 396996 SUPPLIES - CONSUMABLE 620480 541090 79390 BAD DEBTS 237992 237992 TRANSPORTATION 13631 13593 38 17752865 15093616 2659249 0 1111572 3503090 1980476 2161639 119342 159017 1427183 917758 650321 509425 1337449 1241051 34510235 13399687 39709395 20973909 1059152 946185 759925 542998 6184570 2540600 12667646 812216 14486723 11026569 X 12661158 -4185887 12561514 14133227 25222672 9947340 39709395 20973909 X -14941327 14094 -348099 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13794162 281070 690000 13385232 13773694 340468 320000 13794162 12952635 672000 149059 13773694 9927630 294015 2730990 12952635 11831576 10000 -1913946 9927630 0.85900 0.14100 0 1 1 796026 393293 402733 584485 482460 102025 46672 42005 4667 509425 BENEFICIAL INTEREST IN PERPETUAL TRUST 13257875 DEPOSITS 55409 PLEDGES RECEIVABLE 86403 13399687 DEFERRED RENT 152117 DUE TO FEDC 660099 812216 2609938 -248083 55375 -192708 2802646 8892 8892 2811538 17799348 55375 55375 17743973 8892 8892 17752865 PART V, LINE 4: BENEFICIAL INTEREST IN PERPETUAL TRUST THE LESLIE SHANKMAN SCHOOL CORPORATION IS THE INCOME BENEFICIARY OF VARIOUS ENDOWMENT FUNDS HELD BY THE FOUNDATION FOR THE EDUCATIONAL DEVELOPMENT OF CHILDREN. THE CORPUS IS NOT CONTROLLED BY THE MANAGEMENT OF THE CORPORATION. THE CORPORATION RECOGNIZES ITS BENEFICIAL INTEREST IN ENDOWMENTS HELD BY THE FOUNDATION. ALTHOUGH THE CORPORATION HAS NO CONTROL OVER THE ADMINISTRATION OR INVESTMENT OF THE ENDOWMENT FUNDS, THE ESTIMATED PRESENT VALUE OF THE EXPECTED FUTURE CASH FLOWS FROM THE ENDOWMENT FUNDS IS RECOGNIZED IN THE CORPORATION'S FINANCIAL STATEMENTS, AND ON FORM 990, PART X. CHANGE IN VALUE OF PERPETUAL TRUST IS RECORDED ANNUALLY. THE INVESTMENT INCOME FROM THESE ENDOWMENT FUNDS IS DESIGNATED FOR THE SUPPORT OF THE OPERATIONS OF THE CORPORATION. INVESTMENT INCOME IS DISTRIBUTED FROM THE FOUNDATION TO THE CORPORATION, AS NEEDED, TO FUND THE PROGRAMS OF THE LESLIE SHANKMAN SCHOOL CORPORATION. AMOUNTS RECEIVED FROM THE FOUNDATION ARE RECORDED BY THE CORPORATION AS CONTRIBUTIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE 55,375 PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE 55,375 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NONDISCRIMINATORY POLICY IS STATED IN ALL SCHOOL APPLICATIONS AND POSTED IN GROUP AREAS HPDS ANNUAL GALA 237568 237568 SSOS GALA 163995 151125 12870 2000 44760 6500 2115 401563 388693 12870 2000 44760 6500 2115 55375 -42505 X X X 0 0 0 0 0 0 0 0 0 WALTER CRNICH CO-EXECUTIVE DIRECTOR 183998 0 5000 0 0 0 16337 0 19143 0 224478 0 0 0 DIANA KON CO-EXECUTIVE DIRECTOR 185053 0 10000 0 0 0 16198 0 13846 0 225097 0 0 0 PETE MYERS CO-EXECUTIVE DIRECTOR 184141 0 5000 0 0 0 15798 0 13846 0 218785 0 0 0 ABBY SIMON CFO AND CO-EXEC DIRECTOR 182421 0 2500 0 0 0 15829 0 19140 0 219890 0 0 0 BARBARA RIVERS NURSE 86211 0 0 0 54771 0 10336 0 15511 0 166829 0 0 0 X 1 235616 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 ON BOARD OF DIRECTORS, JAMES AND JOANNE STEINBACK ARE HUSBAND AND WIFE. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS SENT TO THE FINANCE/AUDIT/TAX COMMITTEE OF THE BOARD FOR REVIEW AND APPROVAL. AFTER FORM 990 IS FINALIZED BY THE COMMITTEE, IT IS MADE AVAILABLE TO THE REMAINDER OF THE BOARD MEMBERS UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C ANSWERS TO A QUESTIONNAIRE ARE REVIEWED. ANYTHING REPORTED IS DEALT WITH ON A CASE BY CASE BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTORS OF EACH SCHOOL AND THE EXECUTIVE DIRECTOR/CFO RECEIVED AN ANNUAL REVIEW CONDUCTED BY THE EXECUTIVE COMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS AVAILABLE BY REQUEST AND ARE ALSO PROVIDED TO VARIOUS ACCREDITATION ENTITIES. FORM 990, PART VIII, LINE 7C(II): ON JUNE 28, 2012, THE ORGANIZATION ENTERED INTO A FINANCING ARRANGEMENT UTILIZING THE FEDERAL NEW MARKET TAX CREDIT ("NMTC") PROGRAM ADMINISTERED BY THE U.S. DEPARTMENT OF TREASURY COMMUNITY DEVELOPMENT INSTITUTIONS FUND TO FINANCE AND REIMBURSE THE ORGANIZATION IN CONNECTION WITH THE CONSTRUCTION OF SCHOOL FACILITIES AND TO FINANCE THE ACQUISITION OF RELATED EQUIPMENT, FURNITURE, TEXTBOOKS, AND OTHER ITEMS LOCATED IN A QUALIFIED CENSUS TRACT ("LESLIE SHANKMAN SCHOOL PROJECT"). IN ORDER TO ACCOMMODATE THE STRUCTURE OF FINANCING THE PROJECT, LSSC INVESTMENT FUND, LLC ("LSSCIF") WAS CREATED. LSSCIF WAS THE INVESTOR FOR THE NMTC PROGRAM AND WAS FUNDED BY A LOAN FROM LSSC (SENIOR LEVERAGED LENDER) AND AN EQUITY CONTRIBUTION FROM PNC NEW MARKETS INVESTMENT PARTNERS, LLC ("PNC PARTNERS"). ON SEPTEMBER 17, 2019, PNC PARTNERS EXERCISED THE PUT OPTION LISTED IN THE PROMISSORY NOTE DATED JUNE 28, 2012, EFFECTIVELY UNWINDING THE NMTC FINANCING ARRANGEMENT. PNC PARTNERS SOLD THEIR INTEREST IN LSSCIF TO LSSC FOR A PUT PRICE OF $1,000. EXERCISE OF THE PUT OPTION PROVIDED LSSC WITH OWNERSHIP OF LSSCIF AND RESULTED IN A ONE-TIME NON-CASH GAIN FROM THE LENDER'S TRANSFER OF EQUITY TO LSSC. FURTHERMORE, LSSC'S 100% OWNERSHIP OF LSSCIF ALLOWED FOR THE SETTLEMENT OF THE ASSOCIATED NMTC NOTE RECEIVABLE AND LOANS PAYABLE AS LSSC BECAME THE HOLDER OF NMTC'S QLICI NOTES PAYABLE. UPON FORGIVENESS OF THE LOANS, LSSCIF WAS DISSOLVED. FORM 990, PART XI, LINE 9: DECREASE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST -262,177. NET ASSET TRANSFER FROM FEDC NMTC, LLC -85,922. INTERESTED PARTY DISCLOSURE: JAMES STEINBACK AND JOANNE STEINBACK ARE DIRECTORS OF THE ORGANIZATION. THEIR SON IS EMPLOYED BY ALBANY BANK AND IS A BOARD MEMBER OF THE FOUNDATION FOR THE EDUCATIONAL DEVELOPMENT OF CHILDREN. JAMES STEINBACK INDIRECTLY OWNS LESS THAN 1% OF ALBANY BANK STOCK. ADAM STEINBACK OWNS LESS THAN 1% OF ALBANY BANK STOCK. THE ORGANIZATION'S CHECKING ACCOUNT IS AT ALBANY BANK. THE FOUNDATION FOR THE EDUCATIONAL DEVELOPMENT OF CHILDREN 6254 S ELLIS AVENUE CHICAGO IL 60637 366083633 SUPPORTS THE OPERATIONS OF THE LESLIE SHANKMAN SCHOOL IL 501(C)(3) LINE 12C, III-FI 0 FEDC NMTC LLC 6254 S ELLIS AVENUE CHICAGO IL 60637 352404544 SUPPORTING ORGANIZATION IL 501(C)(25) 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 THE FOUNDATION FOR THE EDUCATIONAL DEVELOPMENT OF CHILDREN E 660099 BOOKS AND RECORDS FEDC NMTC LLC S 85922 BOOKS AND RECORDS THE FOUNDATION FOR THE EDUCATIONAL DEVELOPMENT OF CHILDREN C 600780 BOOKS AND RECORDS