Monmouth-Independence Community Foundation
- Assets
- $2.8m
- Revenue
- $473.0k
- Investments
- $111.7k
- Employees
- 0
- Location
- Monmouth, OR
- Founding
- 08/2000
- Data as of
- 12/2023
- EIN
- 93-1290054
Organization Overview
Monmouth-Independence Community Foundation is located in Monmouth, OR. The organization was established in 2000. 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. Monmouth-Independence Community 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 12/2023, Monmouth-Independence Community Foundation generated $473.0k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 24.5% each year . All expenses for the organization totaled $88.9k during the year ending 12/2023. While expenses have increased by 11.4% per year over the past 9 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.
Since 2017, Monmouth-Independence Community Foundation has awarded 21 individual grants totaling $282,559. 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
THE FOUNDATION PROVIDES FINANCIAL SUPPORT FOR EDUCATIONAL, CIVIC, RECREATIONAL AND CULTURAL ACTIVITIES, PROGRAMS, INSTITUTIONS, FACILITIES AND ORGANIZATIONS FOR THE BENEFIT OF THE GREATER MONMOUTH-INDEPENDENCE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS FOR CLASSROOM ENRICHMENT.
SCHOLARSHIPS TO ASSIST ELEVEN HIGH SCHOOL SENIORS WITH COLLEGE COSTS.
GRANTS FOR THE VERNA DUNCAN AMBASSADORS OF EXCELLENCE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Scheck President | OfficerTrustee | 6 | $0 |
Susan Graham 1st Vice President | OfficerTrustee | 1 | $0 |
Sabra Jewell 2nd Vice President | OfficerTrustee | 1 | $0 |
Marilyn Morton Treasurer | OfficerTrustee | 6 | $0 |
Vernon Wells Past President | OfficerTrustee | 4 | $0 |
Ben Meyer Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $378,256 |
| Noncash contributions included in lines 1a–1f | $52,522 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $385,656 |
| Total Program Service Revenue | $0 |
| Investment income | $50,485 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $36,837 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $472,978 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $55,511 |
| Grants and other assistance to domestic individuals. | $13,500 |
| 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 | $9,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,222 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,013 |
| 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 | $1,170 |
| All other expenses | $402 |
| Total functional expenses | $88,868 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,498 |
| Savings and temporary cash investments | $291,420 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,326,917 |
| Investments—other securities | $111,686 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,785,521 |
| 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 | $167,700 |
| Net assets with donor restrictions | $2,617,821 |
| 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 | $2,785,521 |
Grants Awarded
Over the last fiscal year, Monmouth-Independence Community Foundation has awarded $55,511 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CENTRAL SCHOOL DISTRICT 13J PURPOSE: VERNA DUNCAN AMBSSADORS OF EXCELLENCE. | $8,448 |
CENTRAL SCHOOL DISTRICT 13J PURPOSE: CLASSROOM ENRICHMENT | $47,063 |