Elgin Community College Foundation

Organization Overview

Elgin Community College Foundation is located in Elgin, IL. The organization was established in 2014. 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. Elgin Community 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 06/2022, Elgin Community College Foundation generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $1.0m during the year ending 06/2022. While expenses have increased by 11.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

MAXIMIZE ACCESS TO EXCEPTIONAL EDUCATION THAT WILL IMPROVE LIVES & STRENGTHEN COMMUNITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION OVERSEES MORE THAN 250 INDIVIDUAL SCHOLARSHIPS. THESE FUNDS PRODUCED 291 AWARDS SUPPORTING THE EDUCATIONAL COMMITMENT OF 270 STUDENTS IN THE 2021-2022 ACADEMIC YEAR. SCHOLARSHIP AWARDS ARE MADE BASED ON CRITERIA ESTABLISHED BY DONORS, WHICH MAY INCLUDE BUT IS NOT LIMITED TO ACADEMIC EXCELLENCE, DEMONSTRATED LEADERSHIP STRENGTHS, SPECIFIC PROGRAMS OF STUDY, STUDENTS WHO HAVE OVERCOME PHYSICAL AND LIFE OBSTACLES, AND FINANCIAL NEED.


CONTRIBUTIONS TO ELGIN COMMUNITY COLLEGE INCLUDE FUNDING FOR INNOVATIVE FACULTY PROJECTS, EQUIPMENT FOR ACADEMIC PROGRAMS, AND STUDENT LEADERSHIP DEVELOPMENT. IN ADDITION TO ACADEMIC SUPPORT, RESOURCES HAVE ALSO BEEN EXTENDED TO SUPPORT THE SPARTAN FOOD PANTRY FOR STUDENTS STRUGGLING WITH FOOD INSECURITY WHILE TRYING TO BE SUCCESSFUL IN COLLEGE, THE STUDENT EMERGENCY FUND PROVIDING GAP FUNDING TO HELP STUDENTS STAY IN SCHOOL WHEN AN UNFORESEEN EMERGENCY OCCURS THAT MAY PREVENT ACADEMIC PERSISTENCE, AND THE CHILD CARE FUND ASSISTING SINGLE, LOW-INCOME PARENTS WHO ARE ENROLLED AT THE COLLEGE.


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Board, Officers & Key Employees

Name (title)Compensation
Eric Larson
Chair
$0
Jenni Betancourt
Vice Chair
$0
Javier Placencia
Treasurer
$0
Robin Seigle
Secretary
$0
Larry Jones
Immediate Past Chair
$0
Kim Wagner
Asst Treasurer (ex-Officio)
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$83,933
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$1,358,604
Noncash contributions included in lines 1a–1f $220,217
Total Revenue from Contributions, Gifts, Grants & Similar$1,442,537
Total Program Service Revenue$0
Investment income $1,410
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events -$10,813
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,433,134

Grants Recieved

Over the last fiscal year, we have identified 5 grants that Elgin Community College Foundation has recieved totaling $148,590.

Awarding OrganizationAmount
Motorola Solutions Foundation

Chicago, IL

PURPOSE: GENERAL OPERATING SUPPORT

$50,000
$50,000
Jp Morgan Chase Foundation

New York, NY

PURPOSE: IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS

$40,000
Florence B & Cornelia A Palmer Foundation

Elgin, IL

PURPOSE: COLLEGE ARTS POETRY CONTEST

$6,000
$2,590
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$8,905,044
Earnings-$1,116,766
Admin Expense$83,727
Net Contributions$1,161,445
Other Expense$256,636
Ending Balance$8,609,360

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