Embarc Inc
- Assets
- $6.3m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 38
- Location
- Chicago, IL
- Founding
- 01/2011
- Data as of
- 06/2023
- EIN
- 27-3453182
Organization Overview
Embarc Inc is located in Chicago, IL. The organization was established in 2011. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 06/2023, Embarc Inc employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Embarc Inc 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 06/2023, Embarc Inc generated $5.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 21.0% each year . All expenses for the organization totaled $4.1m during the year ending 06/2023. While expenses have increased by 18.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO INCREASE ACADEMIC SUCCESS FOR LOW INCOME HIGH SCHOOL STUDENTS BY IMMERSING THEM IN SOCIAL AND CULTURAL ENRICHMENT, CAREER DEVELOPMENT, LIFE SKILLS, AND ACADEMIC SUPPORTIVE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EMBARC IS A THREE-YEAR PROGRAM THAT PROVIDES COMMUNITY-DRIVEN, EXPERIENCED-BASED LEARNING OPPORTUNITIES TO LOW-INCOME HIGH SCHOOL STUDENTS TO INSPIRE AND PREPARE THEM FOR COLLEGE AND CAREER SUCCESS.
POST-SECONDARY INITIATIVE IS AIMED AT GUIDING SENIORS AND RECENT GRADUATES INTO AND THROUGH THEIR FIRST YEAR OF COLLEGE. THIS INCLUDES ADVISEMENT AROUND COLLEGE AND PATHWAY FIT, SUPPORT WITH THE POST-SECONDARY PROCESS, AND ESTABLISHING PARTNERSHIPS WITH KEY INSTITUTIONS AND PROGRAMS THAT TARGET AND ADVOCATE FOR LOW-INCOME, FIRST GENERATION STUDENTS. ONCE OUR SENIORS GRADUATE FROM HIGH SCHOOL, EMBARC CONTINUES TO OFFER A RANGE OF SERVICES SUCH AS: QUARTERLY ALUMNI EVENTS, MENTORING OPPORTUNITIES, ASSISTANCE WITH FAFSA AND OTHER COLLEGE/JOB RELATED APPLICATIONS, AS WELL AS MONETARY SUPPORT FOR TEXTBOOKS, COLLEGE FEES AND OTHER NEEDS TO ENSURE PERSISTENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynn Jerath Board Chair | OfficerTrustee | 2 | $0 |
David Allocco Board Member | Trustee | 2 | $0 |
Alan Anderson Board Member | Trustee | 2 | $0 |
Marlene Coulis Board Member | Trustee | 2 | $0 |
Tellef Lundevall Board Member | Trustee | 2 | $0 |
Nelly Pitocco Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $128,501 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,355,527 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,484,028 |
| Total Program Service Revenue | $468,930 |
| Investment income | $40,243 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$95,034 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,898,167 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $418,972 |
| Compensation of current officers, directors, key employees. | $53,795 |
| Compensation to disqualified persons | $1,942,343 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $59,456 |
| Other employee benefits | $195,815 |
| Payroll taxes | $163,945 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,579 |
| Fees for services: Accounting | $17,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,664 |
| Advertising and promotion | $7,543 |
| Office expenses | $62,590 |
| Information technology | $27,537 |
| Royalties | $0 |
| Occupancy | $84,546 |
| Travel | $39,528 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,206 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,596 |
| Insurance | $14,921 |
| All other expenses | $0 |
| Total functional expenses | $4,106,495 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $707,604 |
| Savings and temporary cash investments | $2,122,738 |
| Pledges and grants receivable | $3,179,957 |
| Accounts receivable, net | $172,500 |
| 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 | $31,249 |
| Net Land, buildings, and equipment | $14,750 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $76,574 |
| Total assets | $6,305,372 |
| Accounts payable and accrued expenses | $12,026 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $81,372 |
| Total liabilities | $93,398 |
| Net assets without donor restrictions | $2,077,432 |
| Net assets with donor restrictions | $4,134,542 |
| 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 | $6,305,372 |