Galesburg Public Schools Foundation
- Assets
- $792.1k
- Revenue
- $160.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Galesburg, IL
- Founding
- 05/1988
- Data as of
- 12/2021
- EIN
- 37-1221752
Organization Overview
Galesburg Public Schools Foundation is located in Galesburg, IL. The organization was established in 1988. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Galesburg Public Schools 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 12/2021, Galesburg Public Schools Foundation generated $160.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $72.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE RECEIPT OF FUNDS TO BE USED SOLELY TO SUPPLEMENT EDUCATIONAL, EXTRA-CURRICULAR, AND INTERSCHOLASTIC PROGRAMS OPERATED BY THE BOARD OF EDUCATION OF GALESBURG, COMMUNITY UNIT SCHOOL DISTRICT 205, COUNTIES OF KNOX AND WARREN, ILLINOIS, AND STRENGTHEN THE RELATIONSHIP BETWEEN THE PUBLIC SHCOOLS AND THE GALESBURG COMMUNITY. ALSO TO OVERSEE VARIOUS RESOURCES RECEIVED FROM DONORS TO BE INVESTED AND USED IN ACCORDANCE WITH TERMS SPECIFIED BY THE DONOR FOR SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO RAISE FUNDS FOR GALESBURG COMMUNITY SCHOOL DISTRICT 205 ACADEMIC PROJECTS AND THE PURCHASE OF VARIOUS EDUCATIONAL ITEMS FOR THE DISTRICT.
TO MAINTAIN AND SERVE A FIDUCIARY RELATIONSHIP FOR SCHOLARSHIP AND MEMORIAL FUNDS RESTRICTED BY DONORS TO BE USED TO SUPPLEMENT DISTRICT 205 PROJECTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynn Armstrong Secretary | OfficerTrustee | 1 | $0 |
Karen Hawkinson Treasurer | OfficerTrustee | 1 | $0 |
Mark Wilson Vice Preside | OfficerTrustee | 1 | $0 |
Kristi Mustain President | OfficerTrustee | 1 | $0 |
Nancy Berry Director | Trustee | 1 | $0 |
Bradley Hix Director | Trustee | 1 | $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 | $40,256 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,256 |
| Total Program Service Revenue | $0 |
| Investment income | $43,470 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $76,227 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $160,530 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $35,219 |
| Grants and other assistance to domestic individuals. | $16,103 |
| 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 | $2,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,510 |
| All other expenses | $1,282 |
| Total functional expenses | $72,450 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $231,673 |
| Savings and temporary cash investments | $557,474 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,941 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $792,088 |
| Accounts payable and accrued expenses | $198 |
| 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 | $198 |
| Net assets without donor restrictions | $686,864 |
| Net assets with donor restrictions | $105,026 |
| 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 | $792,088 |
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|---|---|---|
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Holy Family Ministries Chicago, IL | $16,241,007 | $8,503,495 |
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Drexel Funds Milwaukee, WI | $18,531,220 | $8,522,964 |
Indianapolis Public Schools Education Foundation Inc Indianapolis, IN | $8,991,095 | $5,839,882 |
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