INDEPENDENT SCHOOLS ASSOCIATION OF THE CENTRAL STATES INC

EIN: 362715311 501(c)(3)

CHICAGO, IL

Total Revenue
$2,988,341
Total Expenses
$2,941,881
Total Assets
$4,143,570
Net Assets
$3,522,333
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1908
Legal Domicile
IL
Principal Officer
MARY MENACHO
Phone
3127501190
Tax Period
2024-07-01 to 2025-06-30

INDEPENDENT SCHOOLS ASSOCIATION OF THE CENTRAL STATES INC, founded in 1908, is a community nonprofit that reported $3.0M in total revenue in fiscal year 2024.

Mission

THE PURPOSE OF ISACS IS TO PROMOTE THE DEVELOPMENT OF STRONG LEARNING COMMUNITIES CHARACTERIZED BY HIGH ACHIEVEMENTS, SOCIAL RESPONSIBILITY, AND INDEPENDENCE OF GOVERNANCE, PROGRAMS AND POLICIES. THE GOAL IS ACHIEVED THROUGH RIGOROUS ACCREDITATION PROCESS, TARGETED PROFESSIONAL DEVELOPMENT PROGRAMS, AND FOCUSED SUPPORT SERVICES.

Program Service Accomplishments

Program 1
Expenses: $2,134,885 Revenue: $112,008

EVALUATION OF MEMBER ORGANIZATION HEADMASTERS, TEACHERS AND ADMINISTRATORS OF MEMBERS, EVALUATION OF MEMBER ORGANIZATIONS.

Program 2
Expenses: $686,162 Revenue: $1,024,513

CONFERENCES AND WORKSHOPS FOR HEADMASTERS, TEACHERS, AND ADMINISTRATORS OF MEMBER ORGANIZATIONS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,641,777
Program Service Revenue $1,136,521
Investment Income $206,978
Other Revenue $3,065
TOTAL REVENUE $2,988,341

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,585,635
Fundraising Expenses $0
Program Expenses $2,821,047
Other Expenses $1,356,246
TOTAL EXPENSES $2,941,881

Year-over-Year Comparison

2024 2023 Change
Revenue $2,988,341 $2,827,732 +0.1%
Expenses $2,941,881 $2,544,485 +0.2%
Net Income $46,460 $283,247 -0.8%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
24
Independent Members
24
Employees
10
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
21
$0
Key Employees
1
$358,848
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARY MENACHO EXECUTIVE DI 40.00
Key Emp
$320,771 $38,077 $358,848
ANDY ABBOT VICE CHAIR 1.50
Officer Director
$0 $0 $0
FRAN BISSELLE NEW TRUSTEE 1.50
Director
$0 $0 $0
KATIE BONOMO TRUSTEE 1.50
Director
$0 $0 $0
MARK BROOKS NEW TRUSTEE 1.50
Director
$0 $0 $0
TOM FLEMMA TRUSTEE 1.50
Director
$0 $0 $0
JAMES GREENWOOD TRUSTEE 1.50
Director
$0 $0 $0
BRIAN GROSS TRUSTEE 1.50
Director
$0 $0 $0
LESLIE HOSEY NEW TRUSTEE 1.50
Director
$0 $0 $0
CLAIRE LEHENY NEW TRUSTEE 1.50
Director
$0 $0 $0
BEN OTTENWELLER TRUSTEE 1.50
Director
$0 $0 $0
ABBY REED TRUSTEE 1.50
Director
$0 $0 $0
LISA RIKER TRUSTEE 1.50
Director
$0 $0 $0
JOE RIVES NEW TRUSTEE 1.50
Director
$0 $0 $0
MIKE ROSIELLO TRUSTEE 1.50
Director
$0 $0 $0
MICHAEL RUBIN TRUSTEE 1.50
Director
$0 $0 $0
DON SCHAWANG TRUSTEE 1.50
Director
$0 $0 $0
NATALIE SIMMS TRUSTEE 1.50
Director
$0 $0 $0
ANNE STAVNEY TRUSTEE 1.50
Director
$0 $0 $0
JEFF SUZIK NEW TRUSTEE 1.50
Director
$0 $0 $0
KASEY TAYLOR TRUSTEE 1.50
Director
$0 $0 $0
ALEXIS WRIGHT CHAIR 1.50
Director
$0 $0 $0
LUKE FELKER SECRETARY 1.50
Officer
$0 $0 $0
AUDREY PERROTT PAST CHAIR 1.50
Officer
$0 $0 $0
MELISSA SODERBERG TREASURER 1.50
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $2,988,341 $2,941,881 $4,143,570 $46,460
2024 $2,827,732 $2,544,485 $4,132,046 $283,247
2023 $2,674,154 $2,481,416 $3,934,199 $192,738
2022 $2,054,478 $1,963,408 $3,600,940 $91,070
2021 $1,996,434 $1,713,170 $3,627,381 $283,264
2020 $2,335,039 $2,106,706 $3,241,783 $228,333
2019 $2,313,457 $2,246,024 $2,836,717 $67,433
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