NOTE: The question numbers listed below relate to the question numbers on the Statement of Economic Interests form and provide "helpful hints" for completing those sections of the form. Please remember while completing your form, that all blanks must have an answer (i.e., you must put an "N/A" in the blank if the question does not apply to you).
"IF IN DOUBT, LIST IT"
Question #1: List the name and instrument of ownership in any entity doing business in the State of Illinois, in which the ownership interest held by the person at the date of filing is in excess of $5,000 fair market value or from which dividends in excess of $1,200 were derived during the preceding calendar year. (In the case of real estate, location thereof shall be listed by street address, or if none, then by legal description.) No time or demand deposit in a financial institution, nor any debt instrument need be listed.
What does "Business Entity" mean?
Single blocks of stock
Real Estate (other than personal residence)
Rental Property (address)
Farmland (brief description and County)
Mutual Funds (if not in a retirement account - you do not need to list individual funds, more the group you have invested with: i.e., Fidelity Investments, Merrill Lynch, etc.)
NO Savings Accounts, CD's, Tax Exempt Bonds, Bank Accounts, etc.
What is an "Instrument of Ownership"?
Joint-ownership by spouse or immediate family member
Spouse or immediate family member owns
Question #2: List the name, address and type of practice of any professional organization in which the person making the statement was an officer, director, associate, partner or proprietor or served in any advisory capacity, from which income in excess of $1,200 was derived during the preceding calendar year.
What types of professions need to be listed?
Question #3: List the nature of professional services rendered (other than to the State of Illinois) of each entity from which income exceeding $5,000 was received for professional services rendered during the preceding calendar year by the person making the statement.
What are some examples of professional services?
Question #4: List the identity (including the address or legal description of real estate) of any capital asset from which a capital gain of $5,000 or more was realized during the preceding calendar year.
What do you consider a capital asset?
Sale of land, house, etc.
Single blocks of stock
Only the name of stock and/or address of property need to be listed (NO dollar amounts)
The capital gain is before taxes or re-investment.
NOTE: CAPITAL LOSSES DO NOT NEED TO BE REPORTED
Question #5: List the identity of any compensated lobbyist with whom the person making the statement maintains a close economic association, including the name of the lobbyist and specifying the legislative matter or matters that are the object of the lobbying activity, and describing the general type of economic activity of the client or principal on whose behalf that person is lobbying.
If your spouse is a lobbyist, it must be indicated on the Statement
This question commonly has a "N/A" response
Question #6: List the name of any entity doing business in the State of Illinois from which income in excess of $1,200 was derived during the preceding calendar year other than for professional services and the title or description of any position held in that entity. (In the case of real estate, location thereof shall be listed by street address, or if none, then by legal description.)
Most of the time people can use the terms (same as number 1 or see number 1) to complete this section
Most business, rental property, etc., will gross a $1,200.00 per year income
No time or demand deposit in a financial institution nor any debt instrument need be listed.
Question #7: List the name of any unit of government that employed the person making the statement during the preceding calendar year other than the unit or units of government in relation to which the person is required to file.
What are examples of being employed by another "unit of government"?
If the individual making the statement teaches at another school part-time, or is on a Park Board, School Board, Zoning Board or County Board, etc.
If the individual making the statement previously held a position in another State Department
If the individual making the statement is a member of the Army Guard, Air Guard, etc.
If the individual making the statement has a consulting contract with other State agencies
Rule of thumb, "If controlling tax dollars or being paid from tax dollars, it should be listed"
Question #8: List the name of any entity from which a gift or gifts, or honorarium or honoraria, valued singly or in the aggregate in excess of $500, was received during the preceding calendar year.
List the name of the person from which a gift was received if the value exceeds $500. The actual amount is not necessary. Inheritance must be listed here. Examples: Inheritance from the Estate of John Doe. The amount of the inheritance is not required to be listed.