IRIS FOUNDATION

EIN: 474623746 501(c)(3) Science & Technology

CHICAGO, IL

Total Revenue
$88,000
Total Expenses
$80,312
Total Assets
$8,160
Net Assets
$6,160
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2015
Legal Domicile
IL
Phone
3128587424
Tax Period
2020-01-01 to 2020-12-31

IRIS FOUNDATION, founded in 2015, is a micro nonprofit in the Science & Technology sector that reported $88K in total revenue in fiscal year 2020. Expenses of $80K left a modest 9% surplus.

Mission

THE IRIS FOUNDATION (THE "FOUNDATION") EXISTS TO SUPPORT THE APPLICATION, ENGAGEMENT AND DISSEMINATION OF "FIRST PRINCIPLES THINKING" IN SCIENCE, EDUCATION, COMMUNITY, DEVELOPMENT AND CIVIC ENGAGEMENT.THE FOUNDATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, INCLUDING THE ADVANCEMENT OF EDUCATION, SCIENCE AND SOCIAL SCIENCE BY CONDUCTING LABS, CASE STUDIES, DISCUSSION GROUPS, FORUMS, PANELS, LECTURS, AND SIMILAR PROGRAMS.THE FOUNDATION WILL OFFER ITS FACILITIES AND RESOURCES TO INDIVIDUALS AND ORGANIZATIONS, INCLUDING STUDENTS, PROFESSORS, AND UNIVERSITIES, INITIALLY WITH A FOCUS ON THOSE STUDENTS, PROFESSORS, AND UNIVERSITIES LOCATED WITHIN ILLINOIS INCLUDING, WITHOUT LIMITAITON, THE UNIVERSITY OF ILLINOIS AT CHAMPAIGN-URBANA, TO SUPPORT LABS AND CASE STUDIES TO TEST CONCEPTS AND GENERATE DATA TO EFFECTUATE SOCIAL AND COMMUNITY BENEFITS. THE RESULTS OF THESE LABS WILL BE AVAILABLE

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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 (2020)

Revenue Breakdown

Contributions & Grants $88,000
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $88,000

Expense Breakdown

Grants Paid $0
Salaries & Benefits $79,000
Fundraising Expenses $0
Program Expenses $72,341
Other Expenses $1,312
TOTAL EXPENSES $80,312

Year-over-Year Comparison

2020 2019 Change
Revenue $88,000 $84,462 +0.0%
Expenses $80,312 $84,869 -0.1%
Net Income $7,688 $-407 -19.9%
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

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
8

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
3
$79,000
Total Directors
3
$79,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PERICLES TOSCAS Executive Dir. 20.00
Officer Director
$79,000 $0 $79,000
THANANUAN CHARIYA Vice President 0.50
Officer Director
$0 $0 $0
OLIVER DERZA Secretary 0.50
Officer Director
$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
2020 $88,000 $80,312 $8,160 $7,688
2019 $84,462 $84,869 $472 $-407
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