Carl Sandburg College Foundation
- Assets
- $22.8m
- Revenue
- $1.1m
- Investments
- $317.9k
- Employees
- 0
- Location
- Galesburg, IL
- Founding
- 11/1982
- Data as of
- 06/2023
- EIN
- 23-7098820
Organization Overview
Carl Sandburg College Foundation is located in Galesburg, IL. The organization was established in 1982. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carl Sandburg College Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Carl Sandburg College Foundation generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (12.0%) each year. All expenses for the organization totaled $730.7k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE AND RECEIVE CHARITABLE GIFTS, BE RESPONSIBLE STEWARDS OF DONORS' GIFTS, AND PROVIDE FINANCIAL SUPPORT TO STUDENTS AND PROGRAMS OF CARL SANDBURG COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS - TO PROVIDE FINANCIAL SUPPORT TO CARL SANDBURG COLLEGE (SANDBURG) STUDENTS. FOUNDATION SCHOLARSHIPS WERE AWARDED BASED ON GENERAL NEED AND/OR ACADEMIC REQUIREMENTS. SCHOLARSHIPS ARE APPLIED TO THE STUDENT ACCOUNTS AT SANDBURG. SCHOLARSHIP AWARDS ARE DIVIDED EQUALLY BETWEEN THE FALL AND SPRING SEMESTERS.
CONTRIBUTIONS TO COLLEGE PROGRAMS - TO HELP ENHANCE THE COLLEGE'S EFFORTS TO BENEFIT COMMUNITIES OF THE COLLEGE DISTRICT.
INNOVATION GRANTS - PREFERENCE IS GIVEN TO ONE-TIME PROJECTS AND EQUIPMENT REQUESTS THAT DIRECTLY IMPACT A LARGE NUMBER OF PERSONS, PARTICULARLY STUDENTS. NEED, MEASURABLE OUTCOMES, AND LIKELIHOOD OF SUCCESS ARE IMPORTANT FACTORS. ORGANIZED SANDBURG STUDENT GROUPS, FACULTY, STAFF AND INSTUCTIONAL DEPARTMENTS OF SANDBURG MAY SUBMIT APPLICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Long President | OfficerTrustee | 0.5 | $0 |
Edward Barry Past President | OfficerTrustee | 0.5 | $0 |
Carol Hagan Vice President | OfficerTrustee | 0.5 | $0 |
Michelle Kim Secretary | OfficerTrustee | 0.5 | $0 |
Candace D'agnolo Director | Trustee | 0.25 | $0 |
Tracey Moore-Baker Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $32,743 |
| All other contributions, gifts, grants, and similar amounts not included above | $276,830 |
| Noncash contributions included in lines 1a–1f | $9,823 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $309,573 |
| Total Program Service Revenue | $0 |
| Investment income | $656,741 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $111,858 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,078,172 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $421,916 |
| Grants and other assistance to domestic individuals. | $65,839 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25 |
| Fees for services: Accounting | $10,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $113,400 |
| Advertising and promotion | $0 |
| Office expenses | $18,972 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,375 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,419 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $36,698 |
| Total functional expenses | $730,694 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $115,037 |
| Pledges and grants receivable | $12,316 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $22,334,837 |
| Investments—other securities | $317,919 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,780,109 |
| Accounts payable and accrued expenses | $2,705 |
| Grants payable | $187,400 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $190,105 |
| Net assets without donor restrictions | $4,694,910 |
| Net assets with donor restrictions | $17,895,094 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $22,780,109 |