Latin School Of Chicago
- Assets
- $148.4m
- Revenue
- $51.7m
- Investments
- $47.8m
- Employees
- 698
- Location
- Chicago, IL
- Founding
- 10/1954
- Data as of
- 06/2022
- EIN
- 36-2258525
Organization Overview
Latin School Of Chicago is located in Chicago, IL. The organization was established in 1954. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Latin School Of Chicago employed 698 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Latin School Of Chicago 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, Latin School Of Chicago generated $51.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $54.2m during the year ending 06/2022. While expenses have increased by 2.9% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
AN INDEPENDENT CO-ED JUNIOR KINDERGARTEN-12TH GRADE DAY SCHOOL.
Describe the Organization's Program Activity:
INSTRUCTION AND STUDENT SUPPORT ACTIVITIES-FOUNDED IN 1888, THE LATIN SCHOOL OF CHICAGO IS AN INDEPENDENT COEDUCATIONAL DAY SCHOOL FOR GRADES JUNIOR KINDERGARTEN-12. THE STUDENTS: A DIVERSE COMMUNITY OF 1,190 STUDENTS IN JUNIOR KINDERGARTEN-12 FROM CHICAGO AND THE SURROUNDING SUBURBS.THE FACULTY: CARING, EXPERIENCED PROFESSIONALS, OVER 86% OF WHOM HAVE EARNED A MASTER'S DEGREE OR HIGHER. THE STUDENT FACULTY RATIO IS 9:1.ACADEMICS: LATIN OFFERS A RIGOROUS COLLEGE PREPARATORY CURRICULUM THAT ENCOURAGES INDEPENDENCE, CREATIVITY AND CURIOSITY WITH AN EMPHASIS ON INTERDISCIPLINARY LEARNING.FINANCIAL AID: THE SCHOOL ASSISTS STUDENTS WHO OTHERWISE MAY NOT BE FINANCIALLY ABLE TO ATTEND SCHOOL. APPROXIMATELY 12.7% OF THE STUDENT BODY RECEIVES FINANCIAL AID.
SUMMER AND STUDENT SUPPORT SERVICES: THESE PROGRAMS INCLUDE SUMMER AT LATIN AND THE EXTENDED DAY PROGRAM. SUMMER AT LATIN PROVIDES A HIGH QUALITY EDUCATIONAL AND RECREATIONAL OPPORTUNITY FOR CHILDREN OF ALL AGES. THE SUMMER STAFF IS COMMITTED TO OFFERING A SAFE, NURTURING COMMUNITY THAT ALIGNS WITH THE VALUES OF THE SCHOOL WHERE PURSUIT OF KNOWLEDGE COMPLEMENTS INDIVIDUAL GROWTH. THE EXTENDED DAY PROGRAM SUPPORTS LATIN FAMILIES BY OFFERING A SAFE FUN PROGRAM BEFORE AND AFTER THE SCHOOL DAY FOR STUDENTS ENROLLED IN JUNIOR KINDERGARTEN THROUGH 4TH GRADE. THE PROGRAM PROVIDES A BALANCE OF ORGANIZED ACTIVITY AND FREE TIME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David J Koo Chairman | OfficerTrustee | 10 | $0 |
Edward Benford Treasurer | OfficerTrustee | 10 | $0 |
Dara Milner Vice Chair | OfficerTrustee | 10 | $0 |
Diane Saltoun Secretary | OfficerTrustee | 10 | $0 |
David B H Williams Trustee | Trustee | 2 | $0 |
Elizabeth Betten Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Holland And Knight Legal | 6/29/22 | $785,104 |
Handcut Food Food Service | 6/29/22 | $2,578,170 |
Ideal Transportation Buses | 6/29/22 | $314,016 |
Beeline Custodial Service | 6/29/22 | $196,713 |
Storbeck Search Search Firm | 6/29/22 | $204,307 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,227,395 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,707,238 |
| Noncash contributions included in lines 1a–1f | $277,512 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,934,633 |
| Total Program Service Revenue | $47,123,201 |
| Investment income | $577,110 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,988 |
| Net Gain/Loss on Asset Sales | -$203,765 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $23,369 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,650,150 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $586,365 |
| Grants and other assistance to domestic individuals. | $4,402,484 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,638,496 |
| Compensation of current officers, directors, key employees. | $1,471,538 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,561,147 |
| Pension plan accruals and contributions | $1,523,590 |
| Other employee benefits | $6,381,349 |
| Payroll taxes | $1,730,873 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,572,948 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,250 |
| Fees for services: Other | $877,935 |
| Advertising and promotion | $92,401 |
| Office expenses | $362,001 |
| Information technology | $485,661 |
| Royalties | $0 |
| Occupancy | $2,232,770 |
| Travel | $355,850 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51,561 |
| Interest | $911,698 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,344,642 |
| Insurance | $251,514 |
| All other expenses | $205,649 |
| Total functional expenses | $54,190,280 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,126,272 |
| Savings and temporary cash investments | $1,683,322 |
| Pledges and grants receivable | $935,679 |
| Accounts receivable, net | $620,206 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $36,574 |
| Prepaid expenses and deferred charges | $437,079 |
| Net Land, buildings, and equipment | $71,404,044 |
| Investments—publicly traded securities | $16,608,621 |
| Investments—other securities | $47,794,356 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,734,649 |
| Total assets | $148,380,802 |
| Accounts payable and accrued expenses | $4,984,585 |
| Grants payable | $0 |
| Deferred revenue | $1,559,568 |
| Tax-exempt bond liabilities | $11,106,855 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $22,200,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,284,086 |
| Total liabilities | $42,135,094 |
| Net assets without donor restrictions | $51,822,599 |
| Net assets with donor restrictions | $54,423,109 |
| 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 | $148,380,802 |