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Nonprofiteer
← LADDER UP

Form 990 for tax year 2022

Filed by LADDER UP.

Totals

Total revenue
$2,870,525
Total expenses
$2,363,936
Contributions and grants received
$2,621,118
Grants paid
$0
Program service revenue
$0
Investment income
$71,246
Other revenue
$178,161
Total assets, end of year
$4,661,807
Total liabilities, end of year
$120,751
Net assets or fund balances, end of year
$4,541,056
Program services expenses (Part IX)
$1,880,700
Management and general expenses
$280,088
Fundraising expenses
$203,148
Program service expenses (Part III)
$1,880,700

Program services were 79.6% 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.

  • 1c · Fundraising events

    $24,537

  • 1e · Government grants (contributions)

    $1,798,277

  • 1f · All other contributions, gifts and grants

    $798,304

  • 1g · Noncash contributions included above

    $21,480

  • 3 · Investment income

    total $65,574 · excluded $65,574

  • 7a · Gross sales of assets other than inventory

    securities $20,416

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

    securities $14,744

  • 7c · Gain or loss

    securities $5,672

  • 7d · Net gain or loss

    total $5,672 · excluded $5,672

  • 8a · Fundraising events: gross income

    $212,798

  • 8a · Fundraising events: contributions included on line 1c

    $24,537

  • 8b · Fundraising events: direct expenses

    $50,741

  • 8c · Net income from fundraising events

    total $162,057 · excluded $162,057

  • 11a · Other revenue: OTHER REVENUE

    total $16,104 · excluded $16,104

  • 11e · Other revenue, total

    $16,104

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $313,478 · program services $171,851 · management and general $98,383 · fundraising $43,244

  • 7 · Other salaries and wages

    total $1,040,616 · program services $903,072 · management and general $50,059 · fundraising $87,485

  • 8 · Pension plan contributions

    total $31,161 · program services $28,349 · management and general $412 · fundraising $2,400

  • 9 · Other employee benefits

    total $130,311 · program services $104,246 · management and general $13,626 · fundraising $12,439

  • 10 · Payroll taxes

    total $86,482 · program services $68,904 · management and general $9,271 · fundraising $8,307

  • 11f · Fees: investment management

    total $20,416 · management and general $20,416

  • 11g · Fees: other

    total $323,937 · program services $255,993 · management and general $59,405 · fundraising $8,539

  • 13 · Office expenses

    total $219,759 · program services $186,683 · management and general $5,861 · fundraising $27,215

  • 16 · Occupancy

    total $61,546 · program services $51,973 · management and general $4,699 · fundraising $4,874

  • 17 · Travel

    total $15,468 · program services $13,871 · management and general $722 · fundraising $875

  • 22 · Depreciation, depletion and amortization

    total $102,719 · program services $93,679 · management and general $4,520 · fundraising $4,520

  • 24a · Other expenses: FEES AND MISCELLANEOUS

    total $18,043 · program services $2,079 · management and general $12,714 · fundraising $3,250

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $190,859 · end of year $301,546

  • 3 · Pledges and grants receivable

    beginning of year $680,627 · end of year $346,711

  • 9 · Prepaid expenses and deferred charges

    beginning of year $23,080 · end of year $24,990

  • 10a · Land, buildings and equipment: cost or other basis

    $1,476,888

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,201,818

  • 10c · Land, buildings and equipment, net

    beginning of year $291,807 · end of year $275,070

  • 11 · Investments: publicly traded securities

    beginning of year $2,628,310 · end of year $3,695,275

  • 15 · Other assets

    beginning of year $0 · end of year $18,215

  • 17 · Accounts payable and accrued expenses

    beginning of year $104,232 · end of year $94,045

  • 23 · Secured mortgages and notes payable

    beginning of year $19,019 · end of year $8,151

  • 25 · Other liabilities

    beginning of year $0 · end of year $18,555

  • 27 · Net assets without donor restrictions

    beginning of year $3,661,432 · end of year $4,476,056

  • 28 · Net assets with donor restrictions

    beginning of year $30,000 · end of year $65,000

Mission and programs · 2022

Mission

THE ORGANIZATION HELPS LOW-INCOME FAMILIES AND INDIVIDUALS ACCESS THE FINANCIAL RESOURCES THEY NEED TO CLIMB UP THE ECONOMIC LADDER. THE ORGANIZATION OFFERS FREE TAX PREPARATION, FINANCIAL AID AND FINANCIAL EDUCATION SERVICES.

Activities or mission (Part I)

THE ORGANIZATION OFFERS FREE TAX PREPARATION, FINANCIAL AID AND FINANCIAL EDUCATION SERVICES.

  • TAX ASSISTANCE PROGRAM:LADDER UP OPERATES ONE OF THE LARGEST AND OLDEST STATE-WIDE VOLUNTEER INCOME TAX ASSISTANCE PROGRAMS OF ITS KIND, OFFERING BOTH IN-PERSON AND DIGITAL SERVICES TO OVER 13,000 INDIVIDUALS ACROSS ILLINOIS. LADDER UP PROVIDES FAMILIES WITH FREE, HIGH-QUALITY TAX PREPARATION AND AN ALTERNATIVE TO PAID TAX PREPARERS. LADDER UP OFFERS MULTIPLE TYPES OF SERVICES AS WELL AS MULTIPLE SAFETY PROTOCOLS TO ENSURE THE SAFETY OF ITS CLIENTS AND VOLUNTEERS. IN THE 2023 TAX SEASON, LADDER UP CLIENTS QUALIFIED FOR AN AVERAGE REFUND OF $1,941, AND OVER 76% QUALIFIED FOR A FEDERAL TAX REFUND.

    Expenses $1,602,556

  • LOW-INCOME TAX CLINIC:LADDER UP PROVIDES FREE, HIGH QUALITY PROFESSIONAL REPRESSENTATION TO LOW-INCOME TAX PAYERS FACING AN IRS OR IDOR CONTROVERSY. THROUGH ITS OFFICES, LADDER UP OFFERS EDUCATIONAL OUTREACH ON THE EARNED INCOME TAX CREDIT, STIMULUS PAYMENTS, ADVANCE CHILD TAX CREDITS, TAXPAYER RIGHTS, RESPONSIBILITIES AND COLLECTION ALTERNATIVES. THE TAX CLINIC DELIVERS NEARLY HALF A MILLION DOLLARS IN DECREASED LIABILITIES TO OUR CLIENTS EACH YEAR.

    Expenses $217,287

  • FINANCIAL CAPABILITY PROGRAM:LADDER UP PROVIDES YEAR-ROUND WORKSHOPS, COORDINATES SAVINGS CAMPAIGNS, AND OFFERS FINANCIAL COACHING TO HELP CLIENTS SET FINANCIAL GOALS AND MANAGE MAJOR LIFE FINANCIAL EVENTS. IN ADDITION TO THIS, LADDER UP HIGHLY VALUES AND SUPPORTS ITS FREE APPLICATION TRAINING FOR FEDERAL STUDENT AID (FAFSA) AND COMPLETION WORKSHOPS AT HIGH SCHOOLS FOR SCHOOLS AND COMMUNITY PARTNERS.

    Expenses $60,857

As filed on the 2022 return.

Listed in Part VII

  • Robert M Burke

    BOARD CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • John Chandler

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mark Sneider

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sr Mary Paul McCaughey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mercedes Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Phyllis Cavallone

    EXECUTIVE DIRECTOR

    Total calculated
    $192,344
    From this org
    $185,000
    From related orgs
    $0
    Other
    $7,344
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $185,000
    Bonus
    $0
    Other
    $0
    Deferred
    $6,637
    Nontaxable benefits
    $707
    Filer's total
    $192,344

  • Katrina McDermott

    DIRECTOR OF FINANCE & ADMINISTRATION

    Total calculated
    $113,340
    From this org
    $108,609
    From related orgs
    $0
    Other
    $4,731
    Hours/week
    40 + 1 related

  • Hedi Belkaoui

    COO (THRU 09/16/22)

    Total calculated
    $116,381
    From this org
    $111,840
    From related orgs
    $0
    Other
    $4,541
    Hours/week
    40 + 1 related

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

None.

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2022
Filed
29 April 2024
IRS schema version
2022v5.0
Source object
202431289349301973

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