Olney Central College Foundation
- Assets
- $3.7m
- Revenue
- $252.5k
- Investments
- $284.9k
- Employees
- 0
- Location
- Olney, IL
- Founding
- 10/1971
- Data as of
- 06/2023
- 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 06/2023, Olney Central College Foundation generated $252.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $224.1k during the year ending 06/2023. 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
2023
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 |
|---|---|---|---|
Sherry Brauer Director | Trustee | 0.5 | $0 |
Brenda Glover Director | Trustee | 0.5 | $0 |
Bernie Rusk Director | Trustee | 0.5 | $0 |
Tara Lemke Director | Trustee | 0.5 | $0 |
Chris Doll Director | Trustee | 0.5 | $0 |
Rick Runyon 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 | $138,507 |
| Noncash contributions included in lines 1a–1f | $32,021 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $138,507 |
| Total Program Service Revenue | $0 |
| Investment income | $139,275 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,085 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$26,359 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $252,508 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $154,569 |
| Grants and other assistance to domestic individuals. | $54,534 |
| 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 | $1,923 |
| 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 | $2,071 |
| All other expenses | $729 |
| Total functional expenses | $224,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $118,150 |
| Savings and temporary cash investments | $31,006 |
| 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 | $3,267,737 |
| Investments—other securities | $284,850 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,701,743 |
| 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 | $918,282 |
| Net assets with donor restrictions | $2,783,461 |
| 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 | $3,701,743 |