Boone County Community Foundation
- Assets
- $9.4m
- Revenue
- $563.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Belvidere, IL
- Founding
- 11/2007
- Data as of
- 12/2023
- EIN
- 20-4973846
Organization Overview
Boone County Community Foundation is located in Belvidere, IL. The organization was established in 2007. 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 12/2023, Boone County Community Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boone County 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, Boone County Community Foundation generated $563.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (17.7%) each year. All expenses for the organization totaled $451.5k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Boone County Community Foundation has awarded 27 individual grants totaling $859,859. 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
SOLICIT FUNDS FROM COMMUNITY MEMBERS WHO WISH TO PROVIDE FINANCIAL ASSISTANCE TO CHARITABLE ORGANIZATIONS AND ACTIVITIES IN THE BOONE COUNTY COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS WERE MADE TO VARIOUS LOCAL CHARITIES TO HELP IMPROVE AND PROMOTE THE BELVIDERE COMMUNITY
VARIOUS SCHOLARSHIPS WERE ISSUED TO QUALIFYING STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Erickson Executive Di | OfficerTrustee | $0 | |
Matt Branom Director | Trustee | $0 | |
Jeremy Doetch Chairman | OfficerTrustee | $0 | |
Dale Drake Director | Trustee | $0 | |
Jeff Ernest Director | Trustee | $0 | |
Dave Gallano President | OfficerTrustee | $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 | $179,902 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $179,902 |
| Total Program Service Revenue | $105,685 |
| Investment income | $207,166 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $70,389 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $563,142 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $142,393 |
| Grants and other assistance to domestic individuals. | $85,658 |
| 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 | $45,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,443 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,603 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $125,868 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,213 |
| Office expenses | $7,536 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,750 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,293 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,165 |
| All other expenses | $0 |
| Total functional expenses | $451,498 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $55,874 |
| 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 | $1,197 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,371,474 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,428,545 |
| Accounts payable and accrued expenses | $4,037 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,120,402 |
| 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 | $1,124,439 |
| Net assets without donor restrictions | $1,120,689 |
| Net assets with donor restrictions | $7,183,417 |
| 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 | $9,428,545 |
Grants Awarded
Over the last fiscal year, Boone County Community Foundation has awarded $132,393 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BOONE COUNTY HISTORICAL MUSEUM PURPOSE: AID IN THEIR PROGRAM | $7,500 |
BOONE COUNTY FAIR ASSOCIATION PURPOSE: AID IN THEIR PROGRAM | $8,000 |
ALL DONATIONS LESS THAN 5000 | | | $116,893 |