William Rainey Harper College Educational Foundation
- Assets
- $50.2m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Palatine, IL
- Founding
- 01/1974
- Data as of
- 06/2022
- EIN
- 23-7348228
Organization Overview
William Rainey Harper College Educational Foundation is located in Palatine, IL. The organization was established in 1974. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. William Rainey Harper College Educational 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 06/2022, William Rainey Harper College Educational Foundation generated $4.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $8.2m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES SCHOLARSHIPS AND ENHANCES THE QUALITY OF THE EDUCATIONAL ENVIRONMENT AND PROGRAMMING.
Describe the Organization's Program Activity:
SCHOLARSHIPS: THE FOUNDATION OVERSEES MORE THAN 225 SCHOLARSHIPS AND AWARDS TO OVER 2,053 INDIVIDUALS ANNUALLY. THESE SCHOLARSHIPS PROVIDE ASSISTANCE AND SUPPORT TO STUDENT SCHOLARS AND STUDENTS FACING BARRIERS TO ACADEMIC ACHIEVEMENT. PROGRAM GRANTS: THE FOUNDATION PROVIDES SEED MONEY FOR EXCELLENCE IN TEACHING AND LEARNING THROUGH THE RESOURCES FOR EXCELLENCE GRANT PROCESS. SOME PAST GRANT RECIPIENTS INCLUDE PROGRAMS THAT SERVE WOMEN, MINORITY STUDENTS AND STUDENTS WITH DISABILITIES, AS WELL AS DEGREE PROGRAMS IN THE FIELDS OF HEALTHCARE, MANUFACTURING AND SCIENCE. ART: THE FOUNDATION COLLECTS AND MAINTAINS A BODY OF WORKS OF ART FOR THE BENEFIT OF HARPER COLLEGE. THE COLLECTION CONTAINS NEARLY 400 PIECES AND IS VALUED AT APPROXIMATELY $2.8 MILLION. THIS EXTENSIVE COLLECTION IS PREEMINENT IN THE NORTHWEST SUBURBS FOR THE PURPOSE OF ARTISTIC STUDY AND COMMUNITY-WIDE AESTHETIC APPRECIATION. ART COLLECTION TRANSFERRED OWNERSHIP TO HARPER COLLEGE IN FY22 JAN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard P Hohol President | OfficerTrustee | 1 | $0 |
Georgeanna Mehr Immediate Past President | OfficerTrustee | 1 | $0 |
Susan Rogers VP Programs | OfficerTrustee | 1 | $0 |
Rafael Malpica VP Board Membership | OfficerTrustee | 1 | $0 |
Patty Moyer VP Development | OfficerTrustee | 1 | $0 |
Brenda Knox Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $128,756 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,465,638 |
| Noncash contributions included in lines 1a–1f | $244,577 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,594,394 |
| Total Program Service Revenue | $0 |
| Investment income | $130,914 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,002 |
| Net Income from Fundraising Events | -$25,194 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,699,112 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,066,542 |
| Grants and other assistance to domestic individuals. | $5,843,633 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $62,079 |
| Fees for services: Other | $174,948 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $784 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,279 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,060 |
| All other expenses | $0 |
| Total functional expenses | $8,180,651 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,886,854 |
| Pledges and grants receivable | $127,451 |
| 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 | $46,140,625 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $50,154,930 |
| Accounts payable and accrued expenses | $380,508 |
| Grants payable | $0 |
| 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 | $380,508 |
| Net assets without donor restrictions | $36,999,209 |
| Net assets with donor restrictions | $12,775,213 |
| 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 | $50,154,930 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that William Rainey Harper College Educational Foundation has recieved totaling $45,832.
| Awarding Organization | Amount |
|---|---|
Hpa Hope Foundation Frisco, TX PURPOSE: CONTINUING EDUCATION IN NURSING | $45,832 |
Endowment Analysis
| Beg. Balance | $33,092,450 |
| Earnings | -$3,318,154 |
| Net Contributions | $9,910,394 |
| Other Expense | -$747,850 |
| Grants | $2,004,542 |
| Ending Balance | $38,427,998 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ivy Tech Foundation Inc Indianapolis, IN | $133,152,328 | $30,082,278 |
Umkc Foundation Kansas City, MO | $70,681,044 | $43,162,989 |
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
Illinois State University Foundation Normal, IL | $269,993,016 | $34,747,700 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Southern Illinois University Foundation Carbondale, IL | $260,208,288 | $31,565,742 |
St Louis Charter Schools St Louis, MO | $19,224,709 | $16,300,473 |
Linda Hall Library Trust Kansas City, MO | $201,287,634 | $7,552,380 |
University Research Park Inc Madison, WI | $162,117,796 | $19,527,506 |
Private Education-Employers Trust St Louis, MO | $386,613 | $11,502,248 |
Northern Illinois University Foundation Dekalb, IL | $169,106,712 | $31,131,654 |
Grinnell College Medical Benefit Plan Trust Agreement Grinnell, IA | $11,174,588 | $9,791,771 |