Rock Valley College Foundation
- Assets
- $16.7m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Rockford, IL
- Founding
- 10/1979
- Data as of
- 06/2021
- EIN
- 36-3037232
Organization Overview
Rock Valley College Foundation is located in Rockford, IL. The organization was established in 1979. 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. Rock Valley 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 06/2021, Rock Valley College Foundation generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $1.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Rock Valley College Foundation has awarded 23 individual grants totaling $5,628,070. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ROCK VALLEY COLLEGE FOUNDATION PROVIDES SUPPORT TO ROCK VALLEY COLLEGE AND ITS STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDATION SCHOLARSHIPS AND EMERGENCY RELIEF AWARDS GIVEN TO STUDENTS ATTENDING ROCK VALLEY COLLEGE DURING THE YEAR ENDING JUNE 30, 2021 TOTALING $312,576.
CONTRIBUTIONS TO ROCK VALLEY COLLEGE DURING THE YEAR ENDED JUNE 30, 2021. THE FOUNDATION PROVIDED CASH GRANTS TOTALING $204,303. THIS INCLUDED $97,500 FOR THE STARLIGHT THEATRE SOUND SYSTEM, AND $106,803 FOR THE RVC TECHNOLOGY BUS.
CONTRIBUTIONS TO ROCK VALLEY COLLEGE DURING THE YEAR ENDED JUNE 30, 2021. THE FOUNDATION PROVIDED NON CASH ASSISTANCE OF $14,670.
ALL OTHER PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert W Stenstrom President | OfficerTrustee | 2 | $0 |
Brent Bernardi Secretary | OfficerTrustee | 2 | $0 |
Patrick W Morrow Secretary (ending 12/15/20) | OfficerTrustee | 2 | $0 |
Lorayne Logan Vice President | OfficerTrustee | 2 | $0 |
Brittany Freiberg Chief Development Officer | Officer | 40 | $0 |
Ellen Olson Treasurer (start 5/4/21) | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $560,937 |
| Investment income | $760,571 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $629,826 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,951,334 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $312,576 |
| 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 to disqualified persons | $0 |
| Other salaries and wages | $237,359 |
| 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 | $62,335 |
| Fees for services: Other | $8,367 |
| Advertising and promotion | $0 |
| Office expenses | $14,193 |
| Information technology | $18,235 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $171 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $537 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,023,508 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $606,718 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $36,256 |
| 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 |
| Investments—publicly traded securities | $16,063,990 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,706,964 |
| Accounts payable and accrued expenses | $8,932 |
| 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 | $253,789 |
| Total liabilities | $262,721 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $16,444,243 |
Grants Awarded
Over the last fiscal year, Rock Valley College Foundation has awarded $339,940 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ROCK VALLEY COLLEGE PURPOSE: STARLIGHT SOUND SYSTEM & RVC TECHNOLOGY BUS & CAPITAL CAMPAIGN | $325,270 |
ROCK VALLEY COLLEGE PURPOSE: TO SUPPORT PC REPAIR, WHIZ KIDS, AVIATION MAINTENANCE, DENTAL HYGIENE, AND AUTOMOTIVE CLASSES AND PROGRAMS AT RVC. | $14,670 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rock Valley College Foundation has recieved totaling $5,250.
| Awarding Organization | Amount |
|---|---|
Nancy Nichols Olson Foundtion Belvidere, IL PURPOSE: CIVIC | $5,250 |
Endowment Analysis
| Beg. Balance | $6,706,345 |
| Earnings | $2,039,826 |
| Net Contributions | $50,589 |
| Grants | $283,971 |
| Ending Balance | $8,512,789 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Blackburn University Carlinville, IL | $69,417,787 | $20,572,819 |
Caney Creek Community Center Pippa Passes, KY | $136,427,755 | $30,649,937 |
Eureka College Eureka, IL | $56,922,231 | $15,083,076 |
Calumet College Whiting, IN | $23,910,768 | $16,116,296 |
Bellin College Inc Green Bay, WI | $39,042,736 | $15,163,582 |
Cox College Springfield, MO | $0 | $12,064,783 |
East-West University Inc Chicago, IL | $90,912,569 | $10,650,646 |
Faith Baptist Bible College Ankeny, IA | $19,003,759 | $8,759,376 |
Emmaus Bible College Dubuque, IA | $12,932,939 | $8,386,656 |
Central Christian College Of The Bible Moberly, MO | $12,273,355 | $9,994,557 |
Olivet Nazarene University Foundation Bourbonnais, IL | $189,458,744 | $9,125,280 |
Missouri Southern Foundation Joplin, MO | $43,351,164 | $5,846,272 |