Olney Central College Foundation
- Assets
- $3.4m
- Revenue
- $226.1k
- Investments
- $300.7k
- Employees
- 0
- Location
- Olney, IL
- Founding
- 10/1971
- Data as of
- 06/2022
- EIN
- 23-7117220
Organization Overview
Olney Central College Foundation is located in Olney, IL. The organization was established in 1971. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Olney Central College 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 06/2022, Olney Central College Foundation generated $226.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $237.2k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S PURPOSE IS TO ASSIST OLNEY CENTRAL COLLEGE, A MEMBER OF THE ILLINOIS EASTERN COMMUNITY COLLEGES, IN ITS EDUCATIONAL GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS FOR STUDENTS, BENEFITING A WIDE RANGE OF STUDENTS. AWARDED BASED ON ACADEMICS OR NEED, BASED ON A SET OF ESTABLISHED NON-DISCRIMINATORY CRITERIA.
CLASSROOM SUPPLIES MONIES ARE DISTRIBUTED ON A REQUESTED BASIS TO HELP FUND EQUIPMENT PURCHASES AS WELL AS OTHER EXPENSES FOR VARIOUS DEPARTMENTS.
STUDENT ACTIVITY MONIES ARE DISTRIBUTED ON A REQUESTED BASIS TO HELP FUND STUDENT RECRUITMENT ACTIVITIES AS WELL AS VARIOUS OTHER ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Peters Vice President | Officer | 0.5 | $0 |
Bart Zuber President | Officer | 0.5 | $0 |
Jason Doris Secretary/treasurer | Officer | 0.5 | $0 |
Sherry Brauer Director | Trustee | 0.5 | $0 |
Andy Hires Director | Trustee | 0.5 | $0 |
Brenda Glover Director | Trustee | 0.5 | $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 | $32,805 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,805 |
| Total Program Service Revenue | $0 |
| Investment income | $208,579 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $695 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$20,677 |
| Net Income from Fundraising Events | $4,683 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $226,085 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $118,363 |
| Grants and other assistance to domestic individuals. | $106,110 |
| 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 | $10,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $270 |
| 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 | $2,120 |
| All other expenses | $28 |
| Total functional expenses | $237,191 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,174 |
| Savings and temporary cash investments | $531 |
| 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 | $189,496 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,856,892 |
| Investments—other securities | $300,675 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,376,768 |
| 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 | $819,484 |
| Net assets with donor restrictions | $2,557,284 |
| 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 | $3,376,768 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Olney Central College Foundation has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Illinois Manufacturers Association Education Foundation Springfield, IL PURPOSE: IAAC Sub-award | $7,500 |
Endowment Analysis
| Beg. Balance | $3,048,318 |
| Earnings | -$342,475 |
| Net Contributions | $10,350 |
| Other Expense | $65,599 |
| Grants | $103,310 |
| Ending Balance | $2,547,284 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Millikin University Decatur, IL | $270,927,180 | $97,576,221 |
Wartburg College Waverly, IA | $247,960,217 | $101,117,542 |
College Of The Ozarks Point Lookout, MO | $787,489,229 | $134,988,466 |
Coe College Cedar Rapids, IA | $182,564,776 | $91,175,984 |
Beloit College Beloit, WI | $210,386,491 | $86,166,985 |
Knox College Galesburg, IL | $294,322,347 | $90,404,751 |
Wabash College Crawfordsville, IN | $537,122,152 | $89,745,763 |
Earlham College Richmond, IN | $378,034,692 | $128,405,386 |
Drury University Springfield, MO | $197,297,672 | $75,721,067 |
Hanover College Trustees Hanover, IN | $246,034,374 | $66,713,330 |
University Of Saint Francis Of Fort Wayne Indiana Inc Fort Wayne, IN | $133,868,306 | $78,578,588 |
Central College Pella, IA | $182,044,293 | $65,374,610 |