Illinois College
- Assets
- $209.7m
- Revenue
- $64.9m
- Investments
- $5.1m
- Employees
- 1,101
- Location
- Jacksonville, IL
- Founding
- 03/1941
- Data as of
- 05/2022
- EIN
- 37-0661211
Organization Overview
Illinois College is located in Jacksonville, IL. The organization was established in 1941. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Illinois College employed 1,101 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois College 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 05/2022, Illinois College generated $64.9m 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 (4.2%) each year. All expenses for the organization totaled $61.1m during the year ending 05/2022. 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
ILLINOIS COLLEGE IS A CO-EDUCATIONAL INSTITUTION OF HIGHER LEARNING IN THE LIBERAL ARTS.
Describe the Organization's Program Activity:
PROVISION OF POST-SECONDARY EDUCATION TO APPROXIMATELY 1100 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Farley President | Officer | 50 | $379,614 |
Catharine O'connell Provost/dean Of College | Officer | 50 | $202,343 |
Stephanie Chipman VP Of External Relations | Officer | 50 | $170,065 |
Kent Siltman VP Of Business/cfo | Officer | 50 | $153,368 |
Monica Bucek Asst VP Major Gifts | 50 | $109,451 | |
Steven R Mills Board Member & Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
A Book Company Llc Textbook Service | 5/30/22 | $894,618 |
O'shea Harold Construction | 5/30/22 | $450,268 |
Chartwells Food Service | 5/30/22 | $2,256,117 |
Bldd Architects Inc Construction | 5/30/22 | $588,801 |
The Board Of Trustees Of The University Covid Testing Services | 5/30/22 | $520,825 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,965,186 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,557,424 |
| Noncash contributions included in lines 1a–1f | $461,702 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,522,610 |
| Total Program Service Revenue | $42,932,656 |
| Investment income | $5,042,970 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,116,209 |
| Net Income from Fundraising Events | $9,100 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $64,876,900 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $21,688,847 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,077,173 |
| Compensation of current officers, directors, key employees. | $474,793 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,714,179 |
| Pension plan accruals and contributions | $673,055 |
| Other employee benefits | $2,031,810 |
| Payroll taxes | $1,077,925 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,403 |
| Fees for services: Accounting | $71,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $424,854 |
| Fees for services: Other | $1,985,747 |
| Advertising and promotion | $138,184 |
| Office expenses | $1,686,145 |
| Information technology | $426,077 |
| Royalties | $0 |
| Occupancy | $2,897,786 |
| Travel | $935,465 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $156,138 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,778,638 |
| Insurance | $537,586 |
| All other expenses | $1,023,204 |
| Total functional expenses | $61,080,908 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,448,899 |
| Pledges and grants receivable | $369,039 |
| Accounts receivable, net | $618,815 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $839,248 |
| Inventories for sale or use | $75,800 |
| Prepaid expenses and deferred charges | $464,879 |
| Net Land, buildings, and equipment | $51,775,641 |
| Investments—publicly traded securities | $111,658,713 |
| Investments—other securities | $5,090,932 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,321,279 |
| Total assets | $209,663,245 |
| Accounts payable and accrued expenses | $7,788,996 |
| Grants payable | $0 |
| Deferred revenue | $1,612,072 |
| Tax-exempt bond liabilities | $9,161,248 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,910,856 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,869,953 |
| Total liabilities | $26,343,125 |
| Net assets without donor restrictions | $67,922,947 |
| Net assets with donor restrictions | $115,397,173 |
| 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 | $209,663,245 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Illinois College has recieved totaling $9,695.
| Awarding Organization | Amount |
|---|---|
Bentson Foundation Wayzata, MN PURPOSE: GENEARL | $5,000 |
Foster And Maralee Overcash Scholarship Trust Canton, IL PURPOSE: SCHOLARSHIP FOR CANTON HIGH | $3,000 |
George & Hazel Barber Scholarship Tr Quincy, IL PURPOSE: COLLEGE SCHOLARSHIP | $1,695 |
Endowment Analysis
| Beg. Balance | $155,486,965 |
| Earnings | -$569,307 |
| Net Contributions | $957,322 |
| Other Expense | $9,324,764 |
| Ending Balance | $146,550,216 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Luther College Decorah, IA | $330,055,480 | $125,968,312 |
Centre College Of Kentucky Danville, KY | $677,636,297 | $215,283,093 |
Lawrence University Of Wisconsin Appleton, WI | $632,228,886 | $124,103,689 |
Lake Forest College Lake Forest, IL | $251,265,144 | $111,531,265 |
Trine University Inc Angola, IN | $221,741,150 | $121,889,140 |
Saint Marys College Notre Dame, IN | $523,384,557 | $143,002,673 |
St Norbert College Inc De Pere, WI | $336,117,917 | $103,405,590 |
Taylor University Upland, IN | $297,240,119 | $122,251,609 |
Millikin University Decatur, IL | $270,927,180 | $97,576,221 |
Wartburg College Waverly, IA | $247,960,217 | $101,117,542 |
College Of The Ozarks Point Lookout, MO | $787,489,229 | $134,988,466 |