American School Of Correspondence
- Assets
- $12.0m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 97
- Location
- Lansing, IL
- Founding
- 08/1927
- Data as of
- 06/2021
- EIN
- 36-2167722
Organization Overview
American School Of Correspondence is located in Lansing, IL. The organization was established in 1927. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 06/2021, American School Of Correspondence employed 97 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American School Of Correspondence 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 06/2021, American School Of Correspondence generated $5.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.6%) each year. All expenses for the organization totaled $5.8m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (8.6%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE A MIDDLE SCHOOL AND HIGH SCHOOL EDUCATION THROUGH THE HOME STUDY METHOD AT A REASONABLE COST TO STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SERVICES: PROVIDE QUALITY SECONDARY INSTRUCTION AT A REASONABLE COST TO STUDENTS SEEKING TO COMPLETE A HIGH SCHOOL EDUCATION THROUGH THE HOME STUDY METHOD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Valerie Riley President | Officer | 37.5 | $96,810 |
Gary Masterton Retired Pres Trustee | Trustee | 1 | $20,000 |
Carol Rogers CPA CFO | Officer | 24 | $13,828 |
Dr John Kemp Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $187,678 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $187,678 |
| Total Program Service Revenue | $4,511,529 |
| Investment income | $255,065 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $405,212 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,386,399 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $30,095 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $143,389 |
| Compensation of current officers, directors, key employees. | $40,702 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,082,937 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $524,536 |
| Payroll taxes | $145,111 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,682 |
| Fees for services: Accounting | $33,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,375 |
| Fees for services: Other | $181,403 |
| Advertising and promotion | $44,517 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,668 |
| Insurance | $69,252 |
| All other expenses | $285,494 |
| Total functional expenses | $5,781,832 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $123,319 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $991,002 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $581,505 |
| Prepaid expenses and deferred charges | $248,343 |
| Net Land, buildings, and equipment | $741,383 |
| Investments—publicly traded securities | $9,279,917 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,965,469 |
| Accounts payable and accrued expenses | $265,936 |
| Grants payable | $0 |
| Deferred revenue | $1,788,656 |
| 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 | $66,392 |
| Total liabilities | $2,120,984 |
| Net assets without donor restrictions | $8,544,485 |
| Net assets with donor restrictions | $1,300,000 |
| 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 | $11,965,469 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that American School Of Correspondence has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Justgive Inc Weston, CT PURPOSE: Pass-through Contribution | $10,000 |
Endowment Analysis
| Beg. Balance | $1,300,000 |
| Earnings | $239,621 |
| Other Expense | $239,621 |
| Ending Balance | $1,300,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nbi-Sems Inc Altoona, WI | $32,056,887 | $23,539,455 |
Eleven Fifty Academy Inc Indianapolis, IN | $2,885,301 | $14,569,317 |
Foundation Of The American College Of Healthcare Executives Chicago, IL | $93,480,001 | $29,930,754 |
Network Of Executive Women Inc Chicago, IL | $6,845,772 | $11,079,191 |
Accreditation Council For Continuing Medical Education Chicago, IL | $14,011,011 | $9,679,361 |
Council For Adult And Experiental Learning Indianapolis, IN | $4,495,606 | $4,303,081 |
American School Of Correspondence Lansing, IL | $11,965,469 | $5,386,399 |
Society For Academic Emergency Medicine Des Plaines, IL | $10,341,301 | $6,329,618 |
Helen Miller-Seiu Member Education And Training Center Chicago, IL | $1,177,324 | $3,731,145 |
Kelley Executive Education Foundation Inc Bloomington, IN | $1,125,624 | $3,371,150 |
Literacy Kansas City Kansas City, MO | $1,783,046 | $2,841,106 |
Peo Program For Continuing Education Des Moines, IA | $11,022,579 | $3,626,880 |