Midland States Bank Foundation
- Assets
- $904.0k
- Revenue
- $622.7k
- Investments
- $832.3k
- Employees
- 0
- Location
- Rockford, IL
- Founding
- 05/2012
- Data as of
- 12/2022
- EIN
- 45-6608679
Organization Overview
Midland States Bank Foundation is located in Rockford, IL. The organization was established in 2012. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midland States Bank 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 12/2022, Midland States Bank Foundation generated $622.7k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.2% each year . All expenses for the organization totaled $514.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Midland States Bank Foundation has awarded 161 individual grants totaling $2,114,636. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTS CHARITABLE ORGANIZATIONS WITHIN ITS AREA AS DEFINED BY CODE SECTION 501(C)(3)AND THE STATE OF ILLINOIS
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $600,000 |
| Interest on Savings | $837 |
| Dividends & Interest | $17,661 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,163 |
| Capital Gain Net Income | $12,044 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $622,661 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $604 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15 |
| Total operating and administrative expenses | $1,539 |
| Contributions, gifts, grants paid | $512,579 |
| Total expenses and disbursements | $514,118 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $71,711 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $903,988 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Midland States Bank Foundation has awarded $512,579 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
MIDLAND INSTITUTE FOR ENTREPRENEURSHIP PURPOSE: PROVIDE FUNDS FOR OPERATIONS. MIDLAND INSTITUTE FOR ENTREPRENEURSHIP IS DEDICATED TO PROVIDING ENTREPRENEURIAL LEADERSHIP IN COMMUNITIES ACROSS THE COUNTRY AND ASSISTS IN ESTABLISHING CEO PROGRAMS. | $150,000 |
SOUTHEASTERN ILLINOIS COMMUNITY-EFFINGHAM SPORTSBACKERS PURPOSE: PROVIDE FUNDS FOR TURF PROJECT | $50,000 |
BUCKEYE FRIEND SCHOOL FUND PURPOSE: PROVIDE FUNDS FOR SCHOOL FUND | $1,995 |
CEFS ECONOMIC OPPORTUNITY PURPOSE: PROVIDE FUNDS FOR OPERATIONS | $30,000 |
CRISIS NURSERY OF EFFINGHAM COUNTY PURPOSE: PROVIDE FUNDS FOR OPERATIONS | $20,000 |
EFFINGHAM COUNTY CULTURAL CENTER AND MUSEUM PURPOSE: PROVIDE FUNDS FOR OPERATIONS | $10,000 |