| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING | 4,880 | 0 | 0 | 4,880 |
| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|---|---|---|---|---|---|---|---|---|
| BUILDING - 18 W. FOURTH STREET | 2015-01-01 | 710,000 | SL | 30.000000000000 | 23,667 | 0 | 0 | ||
| STORAGE RACKS | 2015-07-01 | 2,079 | SL | 10.000000000000 | 104 | 0 | 0 | ||
| STORAGE RACKS | 2015-12-01 | 3,690 | SL | 10.000000000000 | 30 | 0 | 0 |
| Identifier | Return Reference | Explanation |
|---|---|---|
| EXCEPTION TO SELF-DEALING | FORM 990-PF, PART VII-B, LINE 1A(4) AND 1B | THE ORGANIZATION HAS DETERMINED THAT IT IS NOT SUBJECT TO THE EXCISE TAX FOR SELF-DEALING FOR COMPENSATION TO A DISQUALIFIED PERSON. THE INDUSTRIAL ARCHIVES & LIBRARY COMPENSATED THE PRESIDENT AND THE DAY-TO-DAY OPERATIONS MANAGER FOR SERVICES PERFORMED IN STARTING-UP AND MANAGING THE ORGANIZATION AND FULFILLING ITS CHARITABLE PURPOSE. STEPHEN DONCHES WAS PAID AS AN INDEPENDENT CONSULTANT FROM JANUARY 1 THROUGH JULY 31, 2015, WHEN HE WORKED ON ESTABLISHING THE ORGANIZATION. THE BOARD OF TRUSTEES THEN DECIDED THAT IT WOULD HIRE MR. DONCHES AS PRESIDENT AND CEO OF THE ORGANIZATION BEGINNING ON AUGUST 1, 2015. BASED UPON A COMPARATIVE STUDY, IT ESTABLISHED A COMPENSATION LEVEL COMMENSURATE WITH THE RESPONSIBILITIES OF THE POSTIION THAT WAS DEEMED TO BE REASONABLE AND NECESSARY TO CARRY OUT THE FOUNDATION'S EXEMPT PURPOSE. FURTHERMORE, THE COMBINED COMPENSATION AS BOTH CONSULTANT AND THEN AS PRESIDENT AND CEO WAS LESS THAN $100,000. |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| MUTUAL FUNDS | FMV | 7,792,632 | 7,792,632 |
| FIXED INCOME | FMV | 2,777,029 | 2,777,029 |
| HEDGE FUNDS | FMV | 573,021 | 573,021 |
| REAL ESTATE SECURITIES | FMV | 1,234,400 | 1,234,400 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| BUILDING - 18 W. FOURTH STREET | 710,000 | 23,667 | 686,333 | |
| STORAGE RACKS | 2,079 | 104 | 1,975 | |
| STORAGE RACKS | 3,690 | 30 | 3,660 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL | 15,892 | 0 | 0 | 15,892 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| DIVIDENDS RECEIVABLE | 12,194 | 12,194 |
| Description | Amount |
|---|---|
| UNREALIZED LOSS ON INVESTMENTS | 744,060 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT FEES | 28,237 | 25,662 | 25,662 | 2,575 |
| REGISTRATION FEES | 50 | 0 | 0 | 50 |
| OFFICE EQUIPMENT - NON-CAPITAL | 11,918 | 0 | 0 | 11,918 |
| EQUIPMENT RENTAL | 3,983 | 0 | 0 | 3,983 |
| OFFICE EXPENSE | 4,478 | 0 | 0 | 4,478 |
| BOOKS, SUBSCRIPTIONS, REFERENCE MATERIALS | 428 | 0 | 0 | 428 |
| POSTAGE | 117 | 0 | 0 | 117 |
| SUPPLIES | 2,438 | 0 | 0 | 2,438 |
| MEMBERSHIPS | 150 | 0 | 0 | 150 |
| INSURANCE | 3,798 | 0 | 0 | 3,798 |
| PAYROLL FEES | 282 | 0 | 0 | 282 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| ACCRUED INVESTMENT INCOME TAX | 0 | 47,000 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| IT SERVICES | 362 | 0 | 0 | 362 |
| CONTRACTOR FEES | 56,875 | 0 | 0 | 56,875 |
| Name | Address |
|---|---|
| S H CUMMINGS |
231 S LASALLE STREET CHICAGO,IL60697 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| REAL ESTATE TAXES | 6,254 | 0 | 0 | 6,254 |
| INVESTMENT INCOME TAX | 47,000 | 0 | 0 | 0 |
| FOREIGN TAX EXPENSE | 3,343 | 3,343 | 3,343 | 0 |