Lake County Bar Foundation
- Assets
- $1.4m
- Revenue
- $139.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Waukegan, IL
- Founding
- 06/1972
- Data as of
- 06/2022
- EIN
- 23-7094399
Organization Overview
Lake County Bar Foundation is located in Waukegan, IL. The organization was established in 1972. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake County Bar Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Lake County Bar Foundation generated $139.5k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $108.2k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION WAS ESTABLISHED IN 1960 TO PROMOTE THE EDUCATION OF LAWYERS AND ADVANCE THE SCIENCE OF JURISPRUDENCE. THE PURPOSES OF THE FOUNDATION ARE: (A) PROMOTING THE CHARITABLE, EDUCATIONAL, SCIENTIFIC AND LITERARY MISSION OF THE LAKE COUNTY BAR ASSOCIATION; (B) IMPROVING AND FACILITATING THE ADMINISTRATION OF JUSTICE; (C) PROMOTING THE STUDY AND RESEARCH OF LAW, THE DIFFUSION OF LEGAL KNOWLEDGE AND THE CONTINUING EDUCATION OF LAWYERS; (D) PUBLISHING AND DISTRIBUTING ADDRESSES, REPORTS, TREASTISES AND OTHER LITERARY WORKS ON LEGAL SUBJECTS; (E) ACQUIRING, PRESERVING AND EXHIBITING RARE BOOKS AND DOCUMENTS, OBJECTS OF ART, AND ITEMS OF CULTURAL OR HISTORICAL INTEREST TO THE LAKE COUNTY COMMUNITY AND/OR HAVING LEGAL SIGNIFICANCE OR BEARING ON THE ADMINISTRATION OF JUSTICE; (F) PROVIDING FINANCIAL ASSISTANCE TO LAKE COUNTY BAR ASSOCIATION ("THE ASSOCIATION") ATTORNEY MEMBERS IN NEED AS DETERMINED SOLELY AT THE DISCRETION OF THE TRUSTEES OF THE FOUNDATION (THE "TRUSTEES"); (G) PURCHAS
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND DONATIONS TO THIRD PARTIES
DIRECT BENEFITS TO MEMBERS OF LAKE COUNTY BAR FOUNDATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Dorando President | OfficerTrustee | 1 | $0 |
Carey Schiever Vice President | OfficerTrustee | 1 | $0 |
Perry Smith Jr Treasurer | OfficerTrustee | 1 | $0 |
Joann Fratianni Secretary | OfficerTrustee | 1 | $0 |
Nicholas Riewer Past President | OfficerTrustee | 1 | $0 |
Jennifer Ashley Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $69,780 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $69,780 |
| Total Program Service Revenue | $0 |
| Investment income | $1,139 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $59,201 |
| Net Gain/Loss on Asset Sales | $1,621 |
| Net Income from Fundraising Events | $7,786 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $139,527 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,490 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,360 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $72 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,771 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,084 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,818 |
| Insurance | $1,200 |
| All other expenses | -$878 |
| Total functional expenses | $108,238 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $280,801 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $27,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,036,836 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,008 |
| Total assets | $1,365,645 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $144,033 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $255,801 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $399,834 |
| Net assets without donor restrictions | $965,811 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,365,645 |