Arcola Foundation
- Assets
- $6.1m
- Revenue
- $284.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Arcola, IL
- Founding
- 12/1975
- Data as of
- 06/2023
- EIN
- 37-0999945
Organization Overview
Arcola Foundation is located in Arcola, IL. The organization was established in 1975. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arcola 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, Arcola Foundation generated $284.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $240.0k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Arcola Foundation has awarded 36 individual grants totaling $1,095,784. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SCHOLARSHIPS AND GRANT ASSISTANCE TO INDIVIDUALS AND CITY OF ARCOLA ORGANIZATIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO ARCOLA ORGANIZATIONS
DOUGLAS COUNTY CEO PROGRAM - HIGH SCHOOL PROGRAM ENTREPRENEURSHIP PROGRAM
SCHOLARSHIPS TO ARCOLA AREA STUDENTS FOR HIGHER EDUCATION EXPENSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Robert Biggs Member | Trustee | 1.5 | $0 |
Mark Spainhour Chairman | OfficerTrustee | 1.5 | $0 |
Lisa Edwards Member | Trustee | 1.5 | $0 |
Melissa Conlin Vice-Chairman | OfficerTrustee | 1.5 | $0 |
Robert Kosic Member | Trustee | 1.5 | $0 |
Linda Rankin Member | Trustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $159,492 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $159,492 |
| Total Program Service Revenue | $12,342 |
| Investment income | $126,381 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$13,771 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $284,444 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $131,444 |
| Grants and other assistance to domestic individuals. | $28,032 |
| 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 | $13,545 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,522 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,511 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,708 |
| All other expenses | $0 |
| Total functional expenses | $239,950 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $327,268 |
| Savings and temporary cash investments | $2,326,185 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $49,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,406,294 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $37,755 |
| Total assets | $6,147,002 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $3,813,841 |
| Net assets with donor restrictions | $2,333,161 |
| 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 | $6,147,002 |
Grants Awarded
Over the last fiscal year, Arcola Foundation has awarded $82,834 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ARCOLA CHAMBER OF COMMERCE PURPOSE: GENERAL OPERATIONS | $25,395 |
CITY OF ARCOLA PURPOSE: PAVILION/FIREWORKS | $23,485 |
ARCOLA HIGH SCHOOL PURPOSE: DONATION | $5,454 |
ST JOHNS CATHOLIC CHURCH PURPOSE: DONATION | $15,000 |
AVA MARIA CHURCH PURPOSE: DONATION | $8,000 |
ARCOLA FOOD PANTRY PURPOSE: DONATION | $5,500 |