Mac Cormac College Inc
- Assets
- $4.3m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 70
- Location
- Chicago, IL
- Founding
- 06/1967
- Data as of
- 06/2021
- EIN
- 36-2581098
Organization Overview
Mac Cormac College Inc is located in Chicago, IL. The organization was established in 1967. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Mac Cormac College Inc employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mac Cormac College 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 06/2021, Mac Cormac College Inc generated $4.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $4.1m during the year ending 06/2021. 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
TO PROVIDE EDUCATIONAL TRAINING THAT PREPARES STUDENTS TO LIVE AND WORK SUCCESSFULLY IN A DIVERSE AND TECHNOLOGICALLY COMPLEX SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL, ACADEMIC SUPPORT, AND STUDENT SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Drmarnelle Alexis Chancellor | Officer | 40 | $230,000 |
Mateusz Gawenda Interim President/dean Of Finance | Officer | 40 | $111,699 |
Bernard J Toussaint Secretary | OfficerTrustee | 2 | $0 |
Mike Golebiowski Board Chairman | OfficerTrustee | 2 | $0 |
Rhonda Jensen Vice Chairman | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $936,665 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,925 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $957,590 |
| Total Program Service Revenue | $3,463,603 |
| Investment income | $98 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,421,944 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $713,874 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $391,903 |
| Compensation of current officers, directors, key employees. | $217,810 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,272,253 |
| Pension plan accruals and contributions | $39,443 |
| Other employee benefits | $13,527 |
| Payroll taxes | $304,580 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $42,000 |
| Fees for services: Accounting | $37,097 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $41,500 |
| Advertising and promotion | $255,528 |
| Office expenses | $138,316 |
| Information technology | $56,361 |
| Royalties | $0 |
| Occupancy | $374,900 |
| Travel | $72 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $660 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50,200 |
| Insurance | $35,714 |
| All other expenses | $0 |
| Total functional expenses | $4,083,064 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $931,727 |
| Savings and temporary cash investments | $1,507,296 |
| Pledges and grants receivable | $1,168,425 |
| Accounts receivable, net | $526,254 |
| 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 | $34,386 |
| Net Land, buildings, and equipment | $86,886 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,254,974 |
| Accounts payable and accrued expenses | $157,853 |
| Grants payable | $0 |
| Deferred revenue | $479,264 |
| 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 | $828,400 |
| Other liabilities | $10,000 |
| Total liabilities | $1,475,517 |
| Net assets without donor restrictions | $2,779,457 |
| 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 | $4,254,974 |
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