American School Of Correspondence

Lansing, IL
Tax-exempt since Aug. 1927
EIN: 36-2167722

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Educational Institutions and Related Activities / Adult, Continuing Education (NTEE)

Donations to this organization are tax deductible.

Details

According to its June 2023 tax filing, this nonprofit:

Operated a school

Organization is a school. Details are reported on Schedule E.

Revenue

$4.47M (2023)

Expenses

$4.49M (2023)

Total Assets

$7.95M (2023)

Total Liabilities

$839k (2023)

Source: Form 990 tax filings from 2012 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending June
2023

Revenue

$4,468,830

Expenses

$4,488,357

Net Income

-$19,527

Net Assets

$7,112,611

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$724,193	16.2%
Program Services	$3,255,639	72.9%
Investment Income	$153,595	3.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$335,403	7.5%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$213,250	4.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,539,323	34.3%

Assets/Debt
Total Assets	$7,951,419
Total Liabilities	$838,808
Net Assets	$7,112,611

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Valerie Riley (President)	$98,263	$0	$13,238
Jeffrey Cox (Executive Vice President)	$89,250	$0	$12,499
Dr John Kemp (Trustee)	$0	$0	$0
Gary Masterton (Trustee)	$0	$0	$0

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990

Filed on April 30, 2024

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Fiscal Year Ending June
2022

Revenue

$3,637,844

Expenses

$4,900,733

Net Income

-$1,262,889

Net Assets

$7,052,748

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$3,236,097	89.0%
Investment Income	$222,131	6.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$179,616	4.9%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$197,143	4.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,669,705	34.1%

Assets/Debt
Total Assets	$8,928,787
Total Liabilities	$1,876,039
Net Assets	$7,052,748

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Valerie Riley (President)	$99,750	$0	$4,486
Jeffrey Cox (Executive Vice President)	$89,250	$0	$3,657
Dr John Kemp (Trustee)	$0	$0	$0
Gary Masterton Retired Pres (Trustee)	$0	$0	$0

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990

Filed on May 12, 2023

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Fiscal Year Ending June
2021

Revenue

$5,386,399

Expenses

$5,781,832

Net Income

-$395,433

Net Assets

$9,844,485

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$187,678	3.5%
Program Services	$4,511,529	83.8%
Investment Income	$255,065	4.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$405,212	7.5%
Net Inventory Sales	$0
Other Revenue	$26,915	0.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$143,389	2.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$2,082,937	36.0%

Assets/Debt
Total Assets	$11,965,469
Total Liabilities	$2,120,984
Net Assets	$9,844,485

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Valerie Riley (President)	$96,810	$0	$12,751
Gary Masterton Retired Pres (Trustee)	$20,000	$0	$0
Carol Rogers Cpa (Cfo)	$13,828	$0	$0
Dr John Kemp (Trustee)	$0	$0	$0

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990

Filed on May 12, 2022

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Fiscal Year Ending June
2020

Revenue

$6,209,724

Expenses

$6,256,900

Net Income

-$47,176

Net Assets

$9,138,544

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$433,009	7.0%
Program Services	$5,409,220	87.1%
Investment Income	$309,924	5.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$57,571	0.9%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$35,344	0.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$3,170,426	50.7%

Assets/Debt
Total Assets	$12,608,817
Total Liabilities	$3,470,273
Net Assets	$9,138,544

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Valerie Riley (President)	$95,000	$0	$2,280
Jeffrey Cox (Executive Vice President)	$82,708	$0	$0
Carol Rogers Cpa (Cfo)	$33,118	$0	$0
Gary Masterton (Trustee)	$20,000	$0	$0
Roberta R Allen (Trustee)	$15,344	$0	$0
Leslie Ballard (Former Trustee)	$0	$0	$0
Dr John Kemp (Trustee)	$0	$0	$0
Cher Tufly (Former Trustee)	$0	$0	$0

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990

Filed on Dec. 17, 2020

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Fiscal Year Ending June
2019

Revenue

$7,928,332

Expenses

$6,547,537

Net Income

$1,380,795

Net Assets

$9,004,969

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$5,994,375	75.6%
Investment Income	$261,138	3.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$1,672,819	21.1%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$247,896	3.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$2,392,508	36.5%

Assets/Debt
Total Assets	$13,781,679
Total Liabilities	$4,776,710
Net Assets	$9,004,969

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Valerie Riley (President)	$95,000	$0	$2,280
Jeffrey Cox (Executive Vice President)	$82,708	$0	$0
Carol Rogers Cpa (Cfo)	$33,118	$0	$0
Gary Masterton (Trustee)	$20,000	$0	$0
Roberta R Allen (Trustee)	$17,070	$0	$0
Leslie Ballard (Former Trustee)	$0	$0	$0
Dr John Kemp (Trustee)	$0	$0	$0
Cher Tufly (Former Trustee)	$0	$0	$0

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990

Filed on Jan. 8, 2020

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Fiscal Year Ending June
2018

Revenue

$7,214,620

Expenses

$7,656,814

Net Income

-$442,194

Net Assets

$8,795,868

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$6,946,630	96.3%
Investment Income	$267,990	3.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$321,084	4.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$2,607,883	34.1%

Assets/Debt
Total Assets	$14,817,917
Total Liabilities	$6,022,049
Net Assets	$8,795,868

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary Masterton (Trustee (Retired Pres.))	$91,405	$0	$0
Valerie Riley (President)	$88,084	$0	$1,678
Jeff Cox (Executive Vice President)	$76,596	$0	$0
Roberta R Allen (Trustee)	$18,969	$0	$0
Dr John Kemp (Trustee)	$12,000	$0	$0
Cher Tufly (Trustee)	$12,000	$0	$0
Leslie Ballard (Trustee)	$0	$0	$0

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990

Filed on Feb. 5, 2019

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Fiscal Year Ending June
2017

Revenue

$8,550,983

Expenses

$9,395,868

Net Income

-$844,885

Net Assets

$8,678,112

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$8,181,995	95.7%
Investment Income	$285,248	3.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$83,740	1.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$406,541	4.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$2,869,980	30.5%

Assets/Debt
Total Assets	$16,710,431
Total Liabilities	$8,032,319
Net Assets	$8,678,112

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary Masterton (Trustee (Retired Pres.))	$157,768	$0	$0
Judy Piscione (Comptroller)	$73,007	$0	$0
Valerie Riley (President)	$66,886	$0	$0
Jeff Cox (Exec, V P)	$61,881	$0	$0
Roberta R Allen (Trustee)	$20,000	$0	$0
Dr John Kemp (Trustee)	$12,000	$0	$0
Cher Tufly (Trustee)	$12,000	$0	$0
John Mc Culley (Trustee)	$3,000	$0	$0
Leslie Ballard (Trustee)	$0	$0	$0

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990

Filed on May 8, 2018

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Fiscal Year Ending June
2016

Revenue

$6,705,090

Expenses

$9,891,605

Net Income

-$3,186,515

Net Assets

$8,374,681

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$6,337,056	94.5%
Investment Income	$287,218	4.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$80,816	1.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$757,410	7.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$2,965,977	30.0%

Assets/Debt
Total Assets	$18,115,201
Total Liabilities	$9,740,520
Net Assets	$8,374,681

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary R Masterton (President/Trustee)	$150,227	$0	$0
Vincent J Immordino (Vp/Treasurer/Corp. Member)	$108,923	$0	$0
G Marie Limback (Vp/Corp. Member)	$83,162	$0	$0
Eve Tselepatiotis (Corp Member)	$52,528	$0	$0
Valerie Riley (Corp Member)	$51,855	$0	$0
Jeff Cox (Corp Member)	$49,061	$0	$0
Judy P Piscione (Asst Treasurer/Corp. Member)	$48,644	$0	$0
Thomas Mehrl (Corp Member)	$42,693	$0	$0
Paul Czapkowicz (Corp Member)	$41,038	$0	$0
Robin Fisher (Corp Member)	$39,933	$0	$0
Eileen Lingen (Corp Member)	$37,974	$0	$0
Sue Samuel (Corp Member)	$27,842	$0	$0
Roberta Allen (Trustee)	$20,000	$0	$0
Janet Howe (Corp Member (Former))	$13,742	$0	$0
Dr John Kemp (Trustee)	$12,000	$0	$0

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990

Filed on May 10, 2017

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Fiscal Year Ending June
2015

Revenue

$7,784,260

Expenses

$10,914,310

Net Income

-$3,130,050

Net Assets

$12,247,201

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$7,307,750	93.9%
Investment Income	$335,591	4.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$55,813	0.7%
Net Inventory Sales	$0
Other Revenue	$85,106	1.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$3,556,981	32.6%

Assets/Debt
Total Assets	$21,889,437
Total Liabilities	$9,642,236
Net Assets	$12,247,201

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary R Masterton (President/Trustee)	$135,825	$0	$0
Vincent J Immordino (Exec. V P/Treasurer/Corp.)	$99,047	$0	$0
G Marie Limback (Exec. V P/Corp.Member)	$75,624	$0	$0
Rene S Villalva (Principal/Corp. Member)	$47,971	$0	$0
Roberta R Allen (Trustee)	$20,000	$0	$0
William H Hunding (Former Trustee (Deceased 9/2014))	$14,026	$0	$0
Dr John Kemp (Trustee)	$12,000	$0	$0
Cher Tufly (Trustee)	$7,250	$0	$0
John Mcculley (Trustee)	$3,000	$0	$0
Mary Mckeown (Trustee)	$0	$0	$0

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990

Filed on May 16, 2016

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Fiscal Year Ending June
2014

Revenue

$9,684,480

Expenses

$11,279,211

Net Income

-$1,594,731

Net Assets

$17,265,169

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$8,152,591	84.2%
Investment Income	$438,311	4.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$1,051,364	10.9%
Net Inventory Sales	$0
Other Revenue	$42,214	0.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$287,335	2.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$3,672,546	32.6%

Assets/Debt
Total Assets	$24,325,582
Total Liabilities	$7,060,413
Net Assets	$17,265,169

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Gary R Masterton (President/Trustee)	$130,829	$0	$0
Vincent J Immordino (Exec. V P/Treasurer/Corp.)	$94,988	$0	$0
G Marie Limback (Exec. V P/Corp.Member)	$73,099	$0	$0
Rene S Villalva (Principal/Corp. Member)	$64,070	$0	$0
Roberta R Allen (Trustee)	$20,000	$0	$0
William H Hunding (Former Trustee)	$14,773	$0	$0
Dr John Kemp (Trustee)	$12,000	$0	$0
John Mcculley (Trustee)	$3,000	$0	$0
Mary Mckeown (Trustee)	$0	$0	$0

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990

Filed on May 7, 2015

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Fiscal Year Ending June
2013

Revenue

$9,759,534

Expenses

$10,620,798

Net Income

-$861,264

Net Assets

$18,189,299

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$8,712,265	89.3%
Investment Income	$495,368	5.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$504,886	5.2%
Net Inventory Sales	$0
Other Revenue	$47,015	0.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$907,844	8.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$2,921,659	27.5%

Assets/Debt
Total Assets	$25,209,919
Total Liabilities	$7,020,620
Net Assets	$18,189,299

990

Filed on May 1, 2014

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Fiscal Year Ending June
2012

Revenue

$8,374,301

Expenses

$10,871,781

Net Income

-$2,497,480

Net Assets

$18,425,415

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$7,988,797	95.4%
Investment Income	$356,083	4.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$1,910
Net Inventory Sales	$0
Other Revenue	$31,331	0.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$804,309	7.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$3,163,435	29.1%

Assets/Debt
Total Assets	$25,926,877
Total Liabilities	$7,501,462
Net Assets	$18,425,415

990

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

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Updated November 21, 2024

American School Of Correspondence

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $4.47M (2023)

Expenses $4.49M (2023)

Total Assets $7.95M (2023)

Total Liabilities $839k (2023)

Tax Filings by Year

Fiscal Year Ending June 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

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Fiscal Year Ending June 2022

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Fiscal Year Ending June 2021

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Fiscal Year Ending June 2020

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Fiscal Year Ending June 2019

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Fiscal Year Ending June 2018

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Fiscal Year Ending June 2017

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Fiscal Year Ending June 2016

Extracted Financial Data

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Compensation

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Fiscal Year Ending June 2015

Extracted Financial Data

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Compensation

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Fiscal Year Ending June 2014

Extracted Financial Data

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Other

Compensation

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990

Revenue

$4.47M (2023)

Expenses

$4.49M (2023)

Total Assets

$7.95M (2023)

Total Liabilities

$839k (2023)

Fiscal Year Ending June
2023

Fiscal Year Ending June
2022

Fiscal Year Ending June
2021

Fiscal Year Ending June
2020

Fiscal Year Ending June
2019

Fiscal Year Ending June
2018

Fiscal Year Ending June
2017

Fiscal Year Ending June
2016

Fiscal Year Ending June
2015

Fiscal Year Ending June
2014

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2013

Fiscal Year Ending June
2012

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2011

Fiscal Year Ending June
2010

Fiscal Year Ending June
2009

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2008

Fiscal Year Ending June
2007

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2006

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2005

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2004

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2003

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2002

Fiscal Year Ending June
2001