Nonprofit · EIN 81-3313812
548 FOUNDATION
Tax-exempt (reinstated) · CHICAGO, IL 60601
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $5,307,183 | $3,174,863 | $2,132,320 | $2,776,244 | $50,902 | $2,725,342 |
| December 31, 2023 | 990-PF | $1,110,655 | $830,067 | $280,588 | $688,985 | $95,963 | $593,022 |
| December 31, 2022 | 990-PF (amended) | $400,000 | $130,293 | $269,707 | $312,434 | $0 | $312,434 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $5,290,638
- Interest
- $16,545
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $68,350
- Salaries, compensation and benefits (total)
- $769,783
- Disbursements for charitable purposes
- $3,158,318
Balance sheet and other
- Total assets, start of year
- $688,985
- Total assets, end of year
- $2,776,244
- Total liabilities, end of year
- $50,902
- Net assets, end of year
- $2,725,342
- Fair market value of assets
- $2,776,244
- Qualifying distributions
- $3,158,318
- Net investment income
- $16,545
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-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KYNNEE WALLACE 111 E WACKER DR SUITE 440, CHICAGO, IL 60601 | PROGRAM DIRECTOR Highest-paid employee | 40 | $91,932 | $7,743 |
| ROBERT A PATTON 111 E WACKER DR SUITE 440, CHICAGO, IL 60601 | PRESIDENT/CEO | 40 | $63,735 | $4,615 |
| STEVE GERSON 111 E WACKER DR SUITE 440, CHICAGO, IL 60601 | CHIEF FINANCIAL OFFI Highest-paid employee | 40 | $58,229 | $9,230 |
| MERCEDESBENZ PAXTON 111 E WACKER DR SUITE 440, CHICAGO, IL 60601 | CHIEF OPERATING OFFI Highest-paid employee | 40 | $55,912 | $4,615 |
| JAMES LUSTER 111 E WACKER DR SUITE 440, CHICAGO, IL 60601 | SECRETARY | 1 | $0 | $0 |
| LUCAS HUMPHREY 111 E WACKER DR SUITE 440, CHICAGO, IL 60601 | DIRECTOR | 1 | $0 | $0 |
| GENE CRUME 111 E WACKER DR SUITE 440, CHICAGO, IL 60601 | DIRECTOR | 1 | $0 | $0 |
| WINSTON BLAKE 111 E WACKER DR SUITE 440, CHICAGO, IL 60601 | DIRECTOR | 1 | $0 | $0 |
| CORY CROFT 111 E WACKER DR SUITE 440, CHICAGO, IL 60601 | DIRECTOR | 1 | $0 | $0 |
| ANNA BARSKY 111 E WACKER DR SUITE 440, CHICAGO, IL 60601 | DIRECTOR | 1 | $0 | $0 |
| JEFFREY ALLEN 111 E WACKER DR SUITE 440, CHICAGO, IL 60601 | DIRECTOR | 1 | $0 | $0 |
990-PF for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROBERT A PATTON 2514 N MARSHFIELD, CHICAGO, IL 60614 | PRESIDENT | 1 | $0 |
| JAMES LUSTER 2514 N MARSHFIELD, CHICAGO, IL 60614 | DIRECTOR | 1 | $0 |
| LUCAS HUMPHREY 2514 N MARSHFIELD, CHICAGO, IL 60614 | DIRECTOR | 1 | $0 |
990-PF for the year ended December 31, 2022: 1 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROBERT A PATTON 2514 N MARSHFIELD, CHICAGO, IL 60614 | PRESIDENT | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 111 E WACKER DR STE 440, CHICAGO, IL 60601-4224
- In care of
- % ROBERT A PATTON
- Signed the 990-PF
- ROBERT A PATTON, PRESIDENT
- Phone
- (812) 841-3139
- Return prepared by
- BAKER TILLY ADVISORY GROUP LP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 81-3313812
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 2021
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Crime and legal-related (I12)
- Assets (IRS master file)
- $2,776,244
- Income (IRS master file)
- $5,307,183
Revocation and reinstatement
- Exemption revoked
- May 15, 2019
- Posted by the IRS
- August 12, 2019
- Reinstated
- Effective May 15, 2019
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $5,307,183 | $3,174,863 | $2,776,244 | XML |
| 990-PF | December 2023 | $1,110,655 | $830,067 | $688,985 | XML |
| 990-PF | December 2022 | $400,000 | $130,293 | $312,434 | XML |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | 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 81-3313812).
Questions about 548 FOUNDATION
- What is the EIN of 548 FOUNDATION?
- The employer identification number (EIN) of 548 FOUNDATION is 81-3313812.
- Is 548 FOUNDATION tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2019 and reinstated it effective May 15, 2019.
- Are donations to 548 FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does 548 FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of 548 FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did 548 FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of 548 FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 11 people; 4 received compensation from the organization, the highest $91,932 (KYNNEE WALLACE, PROGRAM DIRECTOR).
- How much revenue does 548 FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $5,307,183, expenses of $3,174,863 and total assets of $2,776,244 at year end.
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