AISC EDUCATION FOUNDATION INC

EIN: 510243833 501(c)(3) Education

CHICAGO, IL

Total Revenue
$1,409,708
Total Expenses
$602,353
Total Assets
$6,021,407
Net Assets
$6,012,889
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1959
Legal Domicile
IL
Principal Officer
CHARLES J CARTER
Phone
3126702400
Tax Period
2024-01-01 to 2024-12-31

AISC EDUCATION FOUNDATION INC, founded in 1959, is a community nonprofit in the Education sector that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 143% from the prior year, signaling strong growth momentum. The organization ran a surplus of $807K, a strong 57% operating margin.

Mission

THE FOUNDATION SHALL OPERATE EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES WITHIN THE MEANING OF 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. IT SHALL HAVE, WITHOUT LIMITATION, THE FOLLOWING POWERS: SEE CONTINUED MISSION ON SCHEDULE OTO RECEIVE CONTRIBUTIONS, TO ACCEPT, HOLD, INVEST, REINVEST AND ADMINISTER ANY GIFTS, REQUESTS, DEVISES, BENEFITS OR TRUSTS, AND ANY PROPERTY OF ANY KIND WHATSOEVER, BOTH REAL AND PERSONAL, AND TO USE, DISBURSE, OR DISTRIBUTE THE INCOME OR PRINCIPAL THEREOF FOR EDUCATION SCHOLARSHIPS AND FELLOWSHIPS TO FURTHER COMPETENCE, CREATIVITY AND INTEREST IN THE FABRICATED STRUCTURAL STEEL AND ENGINEERING DESIGN INDUSTRIES AND FOR ALL OTHER CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES ALLOWED BY THE INTERNAL REVENUE CODE, AND THE ILLINOIS GENERAL NOT FOR PROFIT LAW.

Program Service Accomplishments

Program 1
Expenses: $420,044

THE FOUNDATION AWARDED SCHOLARSHIPS AND FELLOWSHIPS FROM THE FOLLOWING FUNDS:THE FRED R. HAVENS FUNDTHE SOUTHERN ASSOCIATION OF STEEL FABRICATORS FUNDTHE W&W/AFCO STEEL FUNDTHE ASSOCIATED STEEL...

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THE FOUNDATION AWARDED SCHOLARSHIPS AND FELLOWSHIPS FROM THE FOLLOWING FUNDS:THE FRED R. HAVENS FUNDTHE SOUTHERN ASSOCIATION OF STEEL FABRICATORS FUNDTHE W&W/AFCO STEEL FUNDTHE ASSOCIATED STEEL ERECTORS FUNDTHE AISC MEMORIAL SCHOLARSHIP FUNDTHE SSBC SCHOLARSHIP FUNDFUNDING THE FUTURE FUNDUNDERGRADUATE RESEARCH FELLOWSHIPS FUND

Program 2
Expenses: $159,500

THE FOUNDATION CONDUCTS A NATIONAL STUDENT BRIDGE COMPETITION FOR THE WINNERS OF REGIONAL COMPETITIONS HELD THROUGHOUT THE COUNTRY AWARDS ARE PRESENTED TO THE UNIVERSITIES/COLLEGES REPRESENTED BY THE...

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THE FOUNDATION CONDUCTS A NATIONAL STUDENT BRIDGE COMPETITION FOR THE WINNERS OF REGIONAL COMPETITIONS HELD THROUGHOUT THE COUNTRY AWARDS ARE PRESENTED TO THE UNIVERSITIES/COLLEGES REPRESENTED BY THE WINNING STUDENTS FOR THE BENEFIT TEN AWARDS FROM $500 TO $5,000 WERE PRESENTED IN 2024. A TOTAL OF $17,000. THE NATIONAL STUDENT STEEL BRIDGE COMPETITION WAS HELD AT LOUISIANA TECH UNIVERSITY.

Program 3
Expenses: $19,588

SPONSORING WELDING COMPETITIONS TO PROVIDE FUNDING FOR EDUCATION TO INCREASE THE POOL OF AVAILABLE WELDERS. THE TOP 3 TEAMS RECEIVE THEIR OWN WELDING MACHINES. ADDITIONALLY, TEAMS NOT IN THE TOP 3...

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SPONSORING WELDING COMPETITIONS TO PROVIDE FUNDING FOR EDUCATION TO INCREASE THE POOL OF AVAILABLE WELDERS. THE TOP 3 TEAMS RECEIVE THEIR OWN WELDING MACHINES. ADDITIONALLY, TEAMS NOT IN THE TOP 3 STILL RECEIVE DONATIONS FOR THEIR SCHOOLS' PROGRAMS. DONATIONS FUND EQUIPMENT, TOOLS, PPE, ETC. THE COMPETITION IS HELD AT THE MANCHESTER COMMUNITY COLLEGE. (MANCHESTER, CONNECTICUT).

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,245,565
Program Service Revenue $0
Investment Income $164,143
Other Revenue $0
TOTAL REVENUE $1,409,708

Expense Breakdown

Grants Paid $452,548
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $599,132
Other Expenses $149,805
TOTAL EXPENSES $602,353

Year-over-Year Comparison

2024 2023 Change
Revenue $1,409,708 $580,682 +1.4%
Expenses $602,353 $490,437 +0.2%
Net Income $807,355 $90,245 +7.9%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
16
Independent Members
16
Employees
N/A
Volunteers
16

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
5
$390,456
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
EMILY GUGLIELMO CHAIR 0.50
Officer Director
$0 $0 $0
BENJAMIN R BAER VICE CHAIR 0.50
Officer Director
$0 $0 $0
GLENN R TABOLT TREASURER 0.50
Officer Director
$0 $0 $0
EDWARD SEGLIAS SECRETARY 0.50
Officer Director
$0 $0 $0
CASEY A BROWN MEMBER OF COMMITTEE 0.50
Director
$0 $0 $0
PATRICIA CLAYTON MEMBER OF COMMITTEE 0.50
Director
$0 $0 $0
BABETTE FREUND MEMBER OF COMMITTEE 0.50
Director
$0 $0 $0
DAN KADRMAS MEMBER OF COMMITTEE 0.50
Director
$0 $0 $0
JON D MAGNUSSON MEMBER OF COMMITTEE 0.50
Director
$0 $0 $0
GREGORY MICHAELSON MEMBER OF COMMITTEE 0.50
Director
$0 $0 $0
ANGIE MITCHELL MEMBER OF COMMITTEE 0.50
Director
$0 $0 $0
MACHEL MORRISON MEMBER OF COMMITTEE 0.50
Director
$0 $0 $0
KIM RODDIS MEMBER OF COMMITTEE 0.50
Director
$0 $0 $0
JEFFREY SMILOW MEMBER OF COMMITTEE 0.50
Director
$0 $0 $0
ANDREA E SUROVEK MEMBER OF COMMITTEE 0.50
Director
$0 $0 $0
DAVID ZALESNE MEMBER OF COMMITTEE 0.50
Director
$0 $0 $0
CHARLES J CARTER PRESIDENT 2.00
Officer
$0 $44,843 $390,456
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
2024 $1,409,708 $602,353 $6,021,407 $807,355
2023 $580,682 $490,437 $5,042,631 $90,245
2022 $1,392,850 $331,828 $4,312,470 $1,061,022
2021 $378,187 $300,571 $3,619,891 $77,616
2020 $543,843 $313,405 $3,311,026 $230,438
2019 $455,479 $313,085 $2,820,136 $142,394
2018 $1,120,154 $219,280 $2,381,840 $900,874
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