Educational Advancement Fund Inc: Form 990, tax year 2009
View the entire original 990 at ProPublica ↗
- Organization
- Educational Advancement Fund Inc (EIN 36-4480416)
- Tax period
- 2009-08-01 to 2010-07-31
- Filed
- 2011-06-15
- IRS object ID
- 201101669349300800
- Schema version
- 2009v1.7
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-06-15T10:27:42-05:00 | Timestamp |
| Tax Period End Date | 2010-07-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM McGladrey Inc | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 570 Lake Cook Road Ste 300 | AddressLine1 |
| City | Deerfield | City |
| State | IL | State |
| ZIP Code | 60015 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2009-08-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 364480416 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Educational Advancement Fund inc | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | EDUC | NameControl |
| Phone | 3129248000 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 525 South State Street | AddressLine1 |
| City | Chicago | City |
| State | IL | State |
| ZIP Code | 60605 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | MIROSLAVA MEIJA KRUG | Name |
| Title | TREASURER | Title |
| Phone | 3129248000 | Phone |
| Date Signed | 2011-06-15 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | WAYNE HARDER | Name |
| Phone | 8479401300 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2009 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
Doing Business As DoingBusinessAs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | UNIVERSITY CENTER OF CHICAGO | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | ALICIA BERG | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 525 South State Street | AddressLine1 |
| City | Chicago | City |
| State | IL | State |
| ZIP Code | 60605 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 27333914 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | www.universitycenter.com | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2001 | YearFormation |
| State Legal Domicile | DE | StateLegalDomicile |
| Activity Or Mission Description | maintenance of a residential housing complex for the benefit of three Chicago-area institutions of higher learning AND PROVIDING HOUSING TO THE STUDENTS THEREOF. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 6 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 0 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Nbr Volunteers | 15 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 24517688 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 24187431 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 822699 | InvestmentIncomePriorYear |
| Investment Income Current Year | 666149 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 2705121 | OtherRevenuePriorYear |
| Other Revenue Current Year | 2480334 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 28045508 | TotalRevenuePriorYear |
| Total Revenue Current Year | 27333914 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 2000000 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 1500000 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Current Year | 0 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 26167241 | OtherExpensePriorYear |
| Other Expenses Current Year | 25432447 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 28167241 | TotalExpensesPriorYear |
| Total Expenses Current Year | 26932447 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -121733 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 401467 | RevenuesLessExpensesCY |
| Total Assets BOY | 144022965 | TotalAssetsBOY |
| Total Assets EOY | 142350843 | TotalAssetsEOY |
| Total Liabilities BOY | 153674285 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 151600696 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | -9651320 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | -9249853 | NetAssetsOrFundBalancesEOY |
| Mission Description | THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS THE MAINTENANCE OF A RESIDENTIAL HOUSING COMPLEX FOR THE BENEFIT OF THREE CHICAGO-AREA TAX-EXEMPT INSTITUTIONS OF HIGHER LEARNING AND PROVIDING HOUSING TO THE STUDENTS THEREOF. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 26814392 | Expense |
| Revenue | 25746963 | Revenue |
| Description | Educational Advancement Fund, Inc. is a not-for-profit, tax-exempt organization formed to acquire land and construct, operate, and maintain a college and university residential complex. The complex is located at State Street and Congress Parkway in Chicago, Illinois (the Project). The Corporation commenced construction of the Project in Spring 2002, and was substantially completed on July 31, 2004. The Project began Operations in August 2004. | Description |
| Total Program Service Expense | 26814392 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Balance Sheet Amounts Reported | 1 | BalanceSheetAmountsReported |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 1 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 0 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 0 | NumberOfEmployees |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Nbr Voting Governing Body Members | 6 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 0 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 1 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 0 | ConflictOfInterestPolicy |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 0 | DocumentRetentionPolicy |
| Compensation Process CEO | 0 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JOHN D SIMON | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 3124567114 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 N MICHIGAN AVE SUITE 400 | AddressLine1 |
| City | CHICAGO | City |
| State | IL | State |
| ZIP Code | 60602 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (7 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| ALICIA BERG | ||||||
| PRESIDENT/DIRECTOR | 4.00 | X | X | 0 | 202854 | 26741 |
| MIROSLAVA MEIJA KRUG | ||||||
| TREASURER/DIRECTOR | 4.00 | X | X | 0 | 203447 | 25843 |
| DR CHARLES MIDDLETON | ||||||
| DIRECTOR | 1.00 | X | 0 | 455661 | 172142 | |
| DR WARRICK CARTER | ||||||
| DIRECTOR | 1.00 | X | 0 | 395971 | 260211 | |
| FR DENNIS HOLTSCHNEIDER | ||||||
| Director | 1.00 | X | 0 | 598361 | 48690 | |
| ROBERT KOZOMAN | ||||||
| DIRECTOR | 1.00 | X | 0 | 389720 | 69765 | |
| SHERRI SIDLER | ||||||
| SECRETARY | 8.00 | X | 0 | 133651 | 14637 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 2379665 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 618029 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| ARAMARK EDUCATIONAL SERVICES INC | |||||
| 1101 Market Street | Philadelphia | PA | 19107 | DINING SERVICES | 4336056 |
| US Equities Student Housing LLC | |||||
| 20 North Michigan Ave | Chicago | IL | 60602 | Management | 2608108 |
| MIDAMERICA ENERGY | |||||
| PO BOX 8020 | DAVENPORT | IA | 52808 | UTILITIES | 689853 |
| MIDWAY BUILDING SERVICES LTD | |||||
| 2425 East Devon Ave | Elk Grove Village | IL | 60007 | Maintenance | 681497 |
| PREMIER SECURITY CORP | |||||
| 35126 Eagle Way | Chicago | IL | 60678 | Security | 661474 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 19 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| Room and Board Svc | 531110 | 23713125 | 23713125 |
| resident life svc | 531110 | 474306 | 474306 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 24187431 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 666149 | TotalRevenueColumn |
| Exclusion | $666,149 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 920802 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 920802 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 920802 | TotalRevenueColumn |
| Exclusion | $920,802 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| Conference Housing Inc | 532000 | 1095482 | 1095482 |
| Conference Center Inco | 532000 | 304194 | 304194 |
| Miscellaneous Income | 900099 | 159856 | 159856 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 1559532 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 27333914 | TotalRevenueColumn |
| Related Or Exempt Function Income | 25746963 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $1,586,951 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1500000 | Total |
| Program Services | 1500000 | ProgramServices |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1061037 | Total |
| Program Services | 1061037 | ProgramServices |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 38944 | Total |
| Management And General | 38944 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 27275 | Total |
| Management And General | 27275 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 170770 | Total |
| Program Services | 170770 | ProgramServices |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 211853 | Total |
| Program Services | 211853 | ProgramServices |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7931752 | Total |
| Program Services | 7931752 | ProgramServices |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3460997 | Total |
| Program Services | 3460997 | ProgramServices |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 259856 | Total |
| Program Services | 259856 | ProgramServices |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices |
|---|---|---|
| food service expense | 4733550 | 4733550 |
| CONTRACT SERVICES | 3169512 | 3169512 |
| UTILITIES | 1165619 | 1165619 |
| AMORTIZATION OF DEFERRE | 627987 | 627987 |
| conference housing expe | 400335 | 400335 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2172960 | Total |
| Program Services | 2121124 | ProgramServices |
| Management And General | 51836 | ManagementAndGeneral |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 26932447 | Total |
| Program Services | 26814392 | ProgramServices |
| Management And General | 118055 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2821620 | BOY |
| EOY | 3619935 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1220000 | BOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 359200 | BOY |
| EOY | 331171 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 253827 | BOY |
| EOY | 163360 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 133603161 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 20625238 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 115625758 | BOY |
| EOY | 112977923 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23742560 | BOY |
| EOY | 25258454 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 144022965 | BOY |
| EOY | 142350843 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3714268 | BOY |
| EOY | 3539614 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 149387478 | BOY |
| EOY | 147552859 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 572539 | BOY |
| EOY | 508223 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 153674285 | BOY |
| EOY | 151600696 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -9651320 | BOY |
| EOY | -9249853 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -9651320 | BOY |
| EOY | -9249853 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 144022965 | BOY |
| EOY | 142350843 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | X | SupportingOrganization509a3 |
| Supporting Org509a3 Type1 | X | SupportingOrg509a3Type1 |
| Contrib By Controlling Individual | 0 | ContribByControllingIndividual |
| Contribution By Related Party | 0 | ContributionByRelatedParty |
| Contrib By35 Controlled Entity | 0 | ContribBy35ControlledEntity |
Supported Org Information SupportedOrgInformation (3 entries)
| EINEIN | Type Of OrganizationTypeOfOrganization | Listed In Governing DocListedInGoverningDoc | Supported Organization NotifiedSupportedOrganizationNotified | Organized In USOrganizedInUS | AmountAmount |
|---|---|---|---|---|---|
| Columbia College Chicago | |||||
| 366112087 | 02 | 1 | 1 | 1 | $13,972,620 |
| DePaul university | |||||
| 362167048 | 02 | 1 | 1 | 1 | $3,885,965 |
| roosevelt university | |||||
| 362167854 | 02 | 1 | 1 | 1 | $6,195,103 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of Supported Orgs | 3 | TotalNumberOfSupportedOrgs |
| Sum Of Amounts | 24053688 | SumOfAmounts |
Schedule D IRS990ScheduleD
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 131772639 | InvestmentCostOrOtherBasis |
| Depreciation | 19850738 | Depreciation |
| Book Value | 111921901 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 902836 | InvestmentCostOrOtherBasis |
| Depreciation | 62448 | Depreciation |
| Book Value | 840388 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 927686 | InvestmentCostOrOtherBasis |
| Depreciation | 712052 | Depreciation |
| Book Value | 215634 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 112977923 | TotalOfBookValueLandBuildings |
Other Assets OtherAssets (10 entries)
| DescriptionDescription | Book ValueBookValue |
|---|---|
| Interest Receivable | 54520 |
| deferred financing costs, net | 552022 |
| deferred leasing commissions, net | 198744 |
| debt service reserve fund | 11414423 |
| capital maintenance reserve fund | 8461811 |
| pledged revenue fund | 2595073 |
| series 2006b interest fund | 938532 |
| series 2006a interest fund | 564927 |
| series 2006b principal fund | 464233 |
| series 2006a principal fund | 14169 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | 25258454 | TotalBookValueOtherAssets |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| security deposits | $150,675 |
| deferred contract commitment | $357,548 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 508223 | TotalOfAmounts |
| Total Revenue | 27333914 | TotalRevenue |
| Total Expenses | 26932447 | TotalExpenses |
| Excess Or Deficit For Year | 401467 | ExcessOrDeficitForYear |
| Total Adjustments | 0 | TotalAdjustments |
| Excess Or Deficit Per FS | 401467 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 27333914 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 27333914 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 27333914 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 25432447 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 25432447 | ExpensesSubtotal |
| Other Expenses Not Included | 1500000 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 1500000 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 26932447 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Part X: | Description of Uncertain Tax Positions Under FIN 48: | The Corporation follows the accounting standard on accounting for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the Corporation may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the Corporation, and various positions related to the potential sources of unrelated business taxable income (UBIT). There were no unrecognized tax benefits identified or recorded as liabilities for the years ended July 31, 2010 and 2009. |
| Part XIII, Line 4b - Other Adjustments: | MEMBER SCHOOL DISTRIBUTIONS: 1500000. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Recipient Table RecipientTable (3 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EIN Of RecipientEINOfRecipient | IRC SectionIRCSection | Amount Of Cash GrantAmountOfCashGrant | Purpose Of GrantPurposeOfGrant |
|---|---|---|---|---|---|---|---|
| COLUMBIA COLLEGE CHICAGO | |||||||
| 600 S MICHIGAN AVENUE | CHICAGO | IL | 60605 | 366112087 | 170(B)(1)(A)(II) | 674118 | SUPPORTING EDUCATIONAL PROGRAMS AND ACTIVITIES |
| DEPAUL UNIVERSITY | |||||||
| 1 EAST JACKSON BLVD | CHICAGO | IL | 60604 | 362167048 | 170(B)(1)(A)(II) | 518178 | SUPPORTING EDUCATIONAL PROGRAMS AND ACTIVITIES |
| ROOSEVELT UNIVERSITY | |||||||
| 430 S MICHIGAN AVENUE | CHICAGO | IL | 60605 | 362167854 | 170(B)(1)(A)(II) | 307704 | SUPPORTING EDUCATIONAL PROGRAMS AND ACTIVITIES |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of501 C3 And Govt Grants | 3 | TotalNbrOf501C3AndGovtGrants |
| Total Nbr Of Other Organizations | 0 | TotalNbrOfOtherOrganizations |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Procedure for Monitoring Grants in the U.S.: | Identifier |
| Return Reference | Part I, Line 2: | ReturnReference |
| Explanation | Schedule I, Part I, Line 2: EDUCATIONAL ADVANCEMENT FUND OPERATES FOR THE SOLE BENEFIT OF DEPAUL UNIVERSITY, COLUMBIA COLLEGE CHICAGO, AND ROOSEVELT UNIVERSITY. ASSISTANCE IS PROVIDED TO THESE INSTITUTIONS AND NO GRANTS ARE MADE. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (6 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ALICIA BERG | |||||||||||||
| 0 | 202314 | 0 | 0 | 0 | 540 | 0 | 9104 | 0 | 17637 | 0 | 229595 | 0 | 0 |
| MIROSLAVA MEIJA KRUG | |||||||||||||
| 0 | 190727 | 0 | 0 | 0 | 12720 | 0 | 8664 | 0 | 17179 | 0 | 229290 | 0 | 0 |
| DR CHARLES MIDDLETON | |||||||||||||
| 0 | 392887 | 0 | 0 | 0 | 62774 | 0 | 163500 | 0 | 8642 | 0 | 627803 | 0 | 0 |
| DR WARRICK CARTER | |||||||||||||
| 0 | 335000 | 0 | 45000 | 0 | 15971 | 0 | 166374 | 0 | 93837 | 0 | 656182 | 0 | 0 |
| FR DENNIS HOLTSCHNEIDER | |||||||||||||
| 0 | 598361 | 0 | 0 | 0 | 0 | 0 | 19600 | 0 | 29090 | 0 | 647051 | 0 | 0 |
| ROBERT KOZOMAN | |||||||||||||
| 0 | 389720 | 0 | 0 | 0 | 0 | 0 | 19600 | 0 | 50165 | 0 | 459485 | 0 | 0 |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI (2 entries)
| Issuer EINIssuerEIN | CUSIP NumberCUSIPNumber | Date IssuedDateIssued | Issue PriceIssuePrice | Description Of PurposeDescriptionOfPurpose | DefeasedDefeased | On Behalf Of IssuerOnBehalfOfIssuer |
|---|---|---|---|---|---|---|
| ILLINOIS FINANCE AUTHORITY | ||||||
| 861091967 | 45202QBE2 | 2006-10-20 | 123570960 | STUDENT HOUSING REVENUE REFUNDING BONDS | 0 | 0 |
| ILLINOIS FINANCE AUTHORITY | ||||||
| 861091967 | 45202QAR4 | 2007-02-01 | 42337296 | STUDENT HOUSING REVENUE REFUNDING BONDS | 0 | 0 |
Form990 Schedule K Part II Form990ScheduleKPartII (2 entries)
| Total ProceedsTotalProceeds | Amount DefeasedAmountDefeased | Issuance Costs From ProceedsIssuanceCostsFromProceeds | Current RefundingCurrentRefunding | Advance RefundingAdvanceRefunding | Final Allocation MadeFinalAllocationMade | Adequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind |
|---|---|---|---|---|---|---|
| 123570960 | 121510012 | 2060948 | 0 | 1 | 1 | 1 |
| 42337296 | 41492344 | 844952 | 0 | 1 | 1 | 1 |
Form990 Schedule K Part III Form990ScheduleKPartIII (2 entries)
| Owning Bond Financed PropertyOwningBondFinancedProperty | Any Lease ArrangementsAnyLeaseArrangements | Mngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprty | Any Research AgreementsAnyResearchAgreements | Bond Counsel Routinely EngagedBondCounselRoutinelyEngaged | Prcntge Prvt Business Use By OthersPrcntgePrvtBusinessUseByOthers | Percentage Of Prvt Business Re UBIPercentageOfPrvtBusinessReUBI | Total Private Business UseTotalPrivateBusinessUse | Post Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs |
|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0.04000 | 0.00000 | 0.04000 | 1 |
| 0 | 0 | 0 | 0 | 0 | 0.04000 | 0.00000 | 0.04000 | 1 |
Form990 Schedule K Part IV Form990ScheduleKPartIV (2 entries)
| Form8038 T FiledForm8038TFiled | Variable Rate IssueVariableRateIssue | Hedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecds | Gross Proceeds Invested In GICGrossProceedsInvestedInGIC | Gross Proceeds InvestedGrossProceedsInvested | Exception To RebateExceptionToRebate |
|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| Form 990, Part VI, Section A, line 3 | Day-to-day management of University Center (UCC) has been delegated to U.S. Equities Student Housing LLC (USESH), pursuant to the terms of a Facility Management Agreement. |
| Form 990, Part VI, Section A, line 6 | THE ORGANIZATION HAS MEMBERS. |
| Form 990, Part VI, Section B, line 11 | The organization'S tax advisor prepares the Form 990 based on information provided by financial management. The returns are reviewed by the tax advisor and financial management before being electronically provided to the board of directors and subsequently filed. |
| FORM 990, PART VI, SECTION B, LINE 15: NO COMPENSATION IS PAID TO DIRECTORS AND OFFICERS. | |
| Form 990, Part VI, Section C, line 19 | THE ORGANIZATION DOES NOT MAKE SUCH DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC. |
| FORM 990, PART VII, SECTION A | IN ADDITION TO THE TIME DEVOTED TO EDUCATIONAL ADVANCEMENT FUND, INC., EACH MEMBER OF THE GOVERNING BODY ALSO CONTRIBUTES TIME TO ONE OF THREE CHICAGO AREA TAX-EXEMPT INSTITUTIONS THAT ARE SUPPORTED BY EDUCATIONAL ADVANCEMENT FUND, INC. ALICIA BERG, COLUMBIA COLLEGE CHICAGO, AVG. 40 HOURS PER WEEK MIROSLAVA MEIJA KRUG, ROOSEVELT UNIVERSITY, AVG. 40 HOURS PER WEEK DR. WARRICK CARTER, COLUMBIA COLLEGE CHICAGO, AVG. 40 HOURS PER WEEK DR. CHARLES MIDDLETON, ROOSEVELT UNIVERSITY, AVG. 40 HOURS PER WEEK FR. DENNIS HOLTSCHNEIDER, DEPAUL UNIVERSITY, AVG. 40 HOURS PER WEEK ROBERT KOZOMAN, DEPAUL UNIVERSITY, AVG. 40 HOURS PER WEEK SHERRI SIDLER, DEPAUL UNIVERSITY, AVG. 40 HOURS PER WEEK |
| FORM 990, PART XI, LINE 2(C) | THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII (3 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Exempt Code SectionExemptCodeSection | Public Charity StatusPublicCharityStatus | Direct Controlling Entity NADirectControllingEntityNA |
|---|---|---|---|---|---|---|---|---|---|
| COLUMBIA COLLEGE CHICAGO | |||||||||
| 600 S MICHIGAN AVENUE | CHICAGO | IL | 60605 | 366112087 | EDUCATION | IL | 170(B)(1)(A)(II) | 02 | N/A |
| DEPAUL UNIVERSITY | |||||||||
| 1 EAST JACKSON BLVD | CHICAGO | IL | 60604 | 362167048 | EDUCATION | IL | 170(B)(1)(A)(II) | 02 | N/A |
| ROOSEVELT UNIVERSITY | |||||||||
| 430 S MICHIGAN AVENUE | CHICAGO | IL | 60605 | 362167854 | EDUCATION | IL | 170(B)(1)(A)(II) | 02 | N/A |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 1 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 1 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (6 entries)
| Transaction TypeTransactionType | Amount InvolvedAmountInvolved |
|---|---|
| COLUMBIA COLLEGE CHICAGO | |
| K | 13298502 |
| DEPAUL UNIVERSITY | |
| K | 3367787 |
| ROOSEVELT UNIVERSITY | |
| K | 5887399 |
| COLUMBIA COLLEGE CHICAGO | |
| Q | 674118 |
| DEPAUL UNIVERSITY | |
| Q | 518178 |
| ROOSEVELT UNIVERSITY | |
| Q | 307704 |