Nonprofit · EIN 36-4298732
AMERICAN QUALITY SCHOOLS CORPORATION
Tax-exempt · DOWNERS GROVE, IL 60515
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $2,945,741 | $2,973,456 | -$27,715 | $527,822 | $683,707 | -$155,885 |
| June 30, 2024 | 990 | $2,931,252 | $2,995,952 | -$64,700 | $894,372 | $1,052,542 | -$158,170 |
| June 30, 2023 | 990 | $3,004,232 | $2,808,723 | $195,509 | $1,287,951 | $1,411,421 | -$123,470 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $2,926,643
- of which government grants
- $2,926,643
- Program service revenue
- $15,299
- Investment income
- $0
- Other revenue
- $3,799
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $1,283,272
- Salaries, compensation and benefits (total)
- $1,525,255
- Professional fundraising fees
- $0
- Legal fees
- $1,800
- Accounting fees
- $94,350
- Occupancy
- $250,477
- Program services (functional)
- $2,192,963
- Management and general (functional)
- $780,493
Balance sheet and other
- Total assets, start of year
- $894,372
- Total assets, end of year
- $527,822
- Total liabilities, end of year
- $683,707
- Net assets, end of year
- -$155,885
- Land, buildings and equipment
- $94,099
- Net assets without donor restrictions
- -$155,885
- Gross receipts
- $2,945,741
- Employees
- 40
- Year formed
- 1999
- State of legal domicile
- IL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| YOLANDA M BANKS | principal | 40 | $113,000 |
| PATRICIA YADGIR | Vice President Trustee or director, Officer | 40 | $0 |
| MICHAEL BAKALIS | President Trustee or director, Officer | 1 | $0 |
| TOM PEKRAS | BOARD MEMBER Trustee or director | 1 | $0 |
| PAM PAUL | BOARD MEMBER Trustee or director | 1 | $0 |
| MARLENE GOLEMBO | Secretary Trustee or director, Officer | 1 | $0 |
| GEORGE NASSOS | BOARD MEMBER Trustee or director | 1 | $0 |
| TERRI VANDERJACK | BOARD MEMBER Trustee or director | 1 | $0 |
| LAURA DAVIDSON | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| YOLANDA M BANKS | principal | 40 | $113,000 |
| PATRICIA YADGIR | Vice President Trustee or director, Officer | 40 | $97,501 |
| MICHAEL BAKALIS | President Trustee or director, Officer | 1 | $0 |
| TOM PEKRAS | BOARD MEMBER Trustee or director | 1 | $0 |
| PAM PAUL | BOARD MEMBER Trustee or director | 1 | $0 |
| MARLENE GOLEMBO | Secretary Trustee or director, Officer | 1 | $0 |
| GEORGE NASSOS | BOARD MEMBER Trustee or director | 1 | $0 |
| TERRI VANDERJACK | BOARD MEMBER Trustee or director | 1 | $0 |
| LAURA DAVIDSON | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended June 30, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PATRICIA YADGIR | Vice President Trustee or director, Officer | 40 | $115,000 |
| YOLANDA M BANKS | principal | 40 | $112,000 |
| MICHAEL BAKALIS | President Trustee or director, Officer | 1 | $0 |
| TOM PEKRAS | BOARD MEMBER Trustee or director | 1 | $0 |
| PAM PAUL | BOARD MEMBER Trustee or director | 1 | $0 |
| MARLENE GOLEMBO | Secretary Trustee or director, Officer | 1 | $0 |
| GEORGE NASSOS | BOARD MEMBER Trustee or director | 1 | $0 |
| TERRI VANDERJACK | BOARD MEMBER Trustee or director | 1 | $0 |
| LAURA DAVIDSON | BOARD MEMBER Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1323 BUTTERFIELD RD STE 114, DOWNERS GROVE, IL 60515-5620
- In care of
- % VITO C BIANCO
- Principal officer (990 for 2024)
- MICHAEL BAKALIS, 1323 BUTTERFIELD RD 114, DOWNERS GROVE, IL 60515
- Signed the 990
- MICHAEL BAKALIS, President
- Phone
- (630) 297-3391
- Website
- www.aqs.org
- Return prepared by
- Costabile & Steffens PC
Mission
organization, management and operation of charter school.
Program accomplishments
- organization, management and operation of charter school in Chicago, IL.Expenses $2,192,963
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 36-4298732
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2008
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B20)
- Assets (IRS master file)
- $527,822
- Income (IRS master file)
- $2,945,741
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $2,945,741 | $2,973,456 | $527,822 | IRS |
| 990 | June 2024 | $2,931,252 | $2,995,952 | $894,372 | IRS |
| 990 | June 2023 | $3,004,232 | $2,808,723 | $1,287,951 | XML |
| 990 | June 2022 | $2,980,673 | $3,095,354 | $802,710 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 36-4298732).
Questions about AMERICAN QUALITY SCHOOLS CORPORATION
- What is the EIN of AMERICAN QUALITY SCHOOLS CORPORATION?
- The employer identification number (EIN) of AMERICAN QUALITY SCHOOLS CORPORATION is 36-4298732.
- Is AMERICAN QUALITY SCHOOLS CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2008.
- Are donations to AMERICAN QUALITY SCHOOLS CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does AMERICAN QUALITY SCHOOLS CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of AMERICAN QUALITY SCHOOLS CORPORATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did AMERICAN QUALITY SCHOOLS CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of AMERICAN QUALITY SCHOOLS CORPORATION?
- The 990 for the year ended June 30, 2025 names MICHAEL BAKALIS.
- Who are the officers and directors of AMERICAN QUALITY SCHOOLS CORPORATION?
- The 990 for the year ended June 30, 2025 lists 9 people; 1 received compensation from the organization, the highest $113,000 (YOLANDA M BANKS, principal).
- How much revenue does AMERICAN QUALITY SCHOOLS CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $2,945,741, expenses of $2,973,456 and total assets of $527,822 at year end.
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