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Nonprofiteer
← ILLINOIS FOOD RETAILERS EDUCATION FOUNDATION

Form 990 for tax year 2024

Filed by ILLINOIS FOOD RETAILERS EDUCATION FOUNDATION.

Totals

Total revenue
$47,132
Total expenses
$74,963
Contributions and grants received
$35,783
Grants paid
$47,880
Program service revenue
$0
Investment income
$11,349
Other revenue
$0
Total assets, end of year
$514,270
Total liabilities, end of year
$894
Net assets or fund balances, end of year
$513,376
Program services expenses (Part IX)
$48,504
Management and general expenses
$26,459
Fundraising expenses
$0
Program service expenses (Part III)
$48,504

Program services were 64.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $35,783

  • 3 · Investment income

    total $13,690 · excluded $13,690

  • 7a · Gross sales of assets other than inventory

    securities $160,097

  • 7b · Less cost or other basis and sales expenses

    securities $162,438

  • 7c · Gain or loss

    securities -$2,341

  • 7d · Net gain or loss

    total -$2,341 · excluded -$2,341

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $47,880 · program services $47,880

  • 11c · Fees: accounting

    total $2,000 · management and general $2,000

  • 11f · Fees: investment management

    total $3,834 · management and general $3,834

  • 11g · Fees: other

    total $20,625 · management and general $20,625

  • 13 · Office expenses

    total $624 · program services $624

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,153 · end of year $26,108

  • 4 · Accounts receivable

    beginning of year $6,573 · end of year $2,898

  • 9 · Prepaid expenses and deferred charges

    beginning of year $540 · end of year $540

  • 11 · Investments: publicly traded securities

    beginning of year $495,091 · end of year $405,349

  • 15 · Other assets

    beginning of year $0 · end of year $79,375

  • 17 · Accounts payable and accrued expenses

    beginning of year $946 · end of year $894

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $503,411 · end of year $513,376

Mission and programs · 2024

Mission

THE ORGANIZATION SERVES AND SUPPORTS THE RETENTION AND EXPANSION OF THE ILLINOIS RETAILERS BY ENCOURAGING A DEEPER UNDERSTANDING OF THE ILLINOIS RETAIL SECTOR AND ITS IMPORTANCE TO THE ILLINOIS ECONOMY. THE FOCUS WILL INCLUDE BUT NOT BE LIMITED TO RESEARCH, WORKFORCE DEVELOPMENT, SCHOLARSHIPS AND RESOURCES FOR EXISTING AND PROSPECTIVE ILLINOIS RETAILERS.

  • THE ORGANIZATION PROVIDES SCHOLARSHIPS TO THE SONS AND DAUGHTERS OF EMPLOYEES OF FIRMS WHO ARE MEMBERS OF THE ILLINOIS FOOD RETAILERS ASSOCIATION.MEMBER COMPANIES CAN SPONSOR THEIR OWN SCHOLARSHIP PROGRAMS UTILIZING THE APPLICATION PROCEDURES AND ADMINISTRATION OF THE FOUNDATION.IN 2024, THE ORGANIZATION AWARDED SCHOLARSHIPS TO 26 INDIVIDUALS TOTALING $47,880.

    Expenses $48,504 · Grants $47,880

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Sarah Shupenus

    CHAIR

    Total calculated
    $93,750
    From this org
    $0
    From related orgs
    $93,750
    Other
    $0
    Hours/week
    1

  • Robert Karr

    TREASURER

    Total calculated
    $479,817
    From this org
    $0
    From related orgs
    $436,679
    Other
    $43,138
    Hours/week
    0.25

    Schedule J breakdown matched by us

    Base
    $0 + $391,838 related
    Bonus
    $0 + $44,841 related
    Other
    $0
    Deferred
    $0 + $42,105 related
    Nontaxable benefits
    $0 + $1,033 related
    Filer's total
    $0 + $479,817 related

  • Bob Jones III

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.25

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • IRMA RETAIL SERVICE CORPORATION

    C · COUPON PROCESSING SERVICES FOR FOOD RETAILERS · IL · 100% owned

    Directly controlled by ILLINOIS RETAIL MERCHANTS ASSOCIATION

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202523219349303032

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