Illinois Art Station Foundation
- Assets
- $2.5m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Normal, IL
- Founding
- 06/2019
- Data as of
- 12/2021
- EIN
- 83-3231559
Organization Overview
Illinois Art Station Foundation is located in Normal, IL. The organization was established in 2019. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Art Station 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 Art Station Foundation generated $1.7m in total revenue. All expenses for the organization totaled $49.9k during the year ending 12/2021. While expenses have increased by 77.2% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
2019 FIRST YEAR OF FORMATION. ORGANIZATION IN FORMATIVE STAGE OF DEVELOPMENT. THE BUILDING WAS UNDER CONSTRUCTION UNTIL SEPTEMBER 2021.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Lewis Director | 2 | $0 | |
Laura E Berk President | 2 | $0 | |
Steve Lancaster Secretary | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,654,296 |
| Interest on Savings | $227 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,423 |
| Total Revenue | $1,657,946 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $18,110 |
| Occupancy | $7,738 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $17,499 |
| Total operating and administrative expenses | $49,863 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $49,863 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,141 |
| 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 | $2,476,932 |
| Other assets | $0 |
| Total assets | $2,478,073 |
| Accounts payable and accrued expenses | $710 |
| Grants payable | $0 |
| Deferred revenue | $2,238 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,948 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oshkosh Area Community Foundation Corporation Oshkosh, WI | $140,509,815 | $17,534,681 |
Community Foundation Of Greater Dubuque Dubuque, IA | $145,486,240 | $37,640,315 |
Community Foundation Of Greater Fort Wayne Inc Fort Wayne, IN | $181,936,459 | $11,602,152 |
Community Foundation Of Northern Illinois Rockford, IL | $141,924,845 | $12,064,778 |
Community Foundation Of Northeast Iowa Cedar Falls, IA | $163,015,524 | $24,241,546 |
Community Foundation Of Southern Indiana Inc New Albany, IN | $128,848,099 | $8,060,969 |
South Central Iowa Community Foundation Chariton, IA | $15,877,246 | $5,307,597 |
Waukesha County Community Foundation Inc Waukesha, WI | $76,894,981 | $24,718,378 |
Community Foundation Alliance Inc Evansville, IN | $117,500,760 | $8,724,196 |
Hamilton County Community Foundation Inc Fishers, IN | $98,701,430 | $28,985,245 |
Community Foundation Of The Fox River Valley Aurora, IL | $129,427,234 | $19,610,188 |
Community Foundation Of Howard County Inc Kokomo, IN | $118,725,038 | $13,832,035 |