Illinois Community College System Foundation
- Assets
- $8.6m
- Revenue
- $917.8k
- Investments
- $0.0
- Employees
- 5
- Location
- Springfield, IL
- Founding
- 08/1996
- Data as of
- 12/2021
- EIN
- 37-1293039
Organization Overview
Illinois Community College System Foundation is located in Springfield, IL. The organization was established in 1996. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Illinois Community College System Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Community College System 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, Illinois Community College System Foundation generated $917.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $563.9k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT ACTIVITIES OF BENEFIT TO ALL COMMUNITY COLLEGES, INCLUDING SCHOLARSHIPS.
Describe the Organization's Program Activity:
ENHANCING THE IMAGE AND RESOURCES OF THE COMMUNITY COLLEGE SYSTEM BY DEVELOPING FRIENDS AND FAVORABLE PUBLICITY TO SUPPORT ACTIVITIES OF BENEFIT TO ALL COMMUNITY COLLEGES IN ILLINOIS.
PROVIDING FINANCIAL ASSISTANCE THROUGH SCHOLARSHIPS AVAILABLE TO COMMUNITY COLLEGE STUDENTS THROUGHOUT THE STATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Kanosky President | OfficerTrustee | 20 | $31,167 |
Terri Winfree Co-President | OfficerTrustee | 10 | $11,458 |
Barry Hancock Co-President | OfficerTrustee | 10 | $11,458 |
John Goetz Chair | OfficerTrustee | 2 | $0 |
Cristobal Valdez Director | Trustee | 1 | $0 |
Bola Delano 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 | $41,721 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,721 |
| Total Program Service Revenue | $613,231 |
| Investment income | $78,712 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $41,928 |
| Net Gain/Loss on Asset Sales | $142,096 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $917,776 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $88,450 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $54,084 |
| Compensation of current officers, directors, key employees. | $32,450 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $50,764 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,985 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,531 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $85,357 |
| Travel | $9,770 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $65,808 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $97,463 |
| Insurance | $13,298 |
| All other expenses | $3,031 |
| Total functional expenses | $563,875 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $760,644 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,955 |
| 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 | $3,776,142 |
| Investments—publicly traded securities | $4,034,059 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,621,800 |
| Accounts payable and accrued expenses | $25,997 |
| Grants payable | $0 |
| Deferred revenue | $13,927 |
| Tax-exempt bond liabilities | $1,329,907 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $564,596 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,934,427 |
| Net assets without donor restrictions | $3,489,042 |
| Net assets with donor restrictions | $3,198,331 |
| 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 | $8,621,800 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Illinois Community College System Foundation has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
At&t Foundation Dallas, TX PURPOSE: EDUCATION | $25,000 |
Endowment Analysis
| Beg. Balance | $2,975,808 |
| Earnings | $252,194 |
| Net Contributions | $27,971 |
| Other Expense | $11,108 |
| Grants | $70,850 |
| Ending Balance | $3,174,015 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Milwaukee Foundation Inc Milwaukee, WI | $1,114,706,959 | $151,763,598 |
Thrivent Charitable Impact & Investing Appleton, WI | $809,708,853 | $138,812,775 |
Community Fdn Of Greater Des Moines Des Moines, IA | $756,930,676 | $144,988,273 |
Central Indiana Community Foundation Inc Indianapolis, IN | $548,109,976 | $56,175,018 |
Greater Green Bay Community Foundation Inc Green Bay, WI | $158,723,657 | $42,186,646 |
The Community Foundation Of Louisville Inc Louisville, KY | $675,486,716 | $70,628,491 |
Community Foundation For The Fox Valley Region Inc Appleton, WI | $500,269,949 | $60,999,391 |
Madison Community Foundation Madison, WI | $285,628,719 | $40,248,600 |
Elks National Foundation Inc Chicago, IL | $936,472,552 | $62,047,958 |
Community Foundation Of The Ozarks Inc Springfield, MO | $393,798,423 | $57,110,719 |
Community Foundation Of Elkhart County Inc Elkhart, IN | $418,149,768 | $41,619,440 |
Blue Grass Community Foundation Inc Lexington, KY | $132,271,880 | $24,051,212 |