Funding New Beginnings Community Foundation
- Assets
- $4.6m
- Revenue
- $217.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Prophetstown, IL
- Founding
- 02/2006
- Data as of
- 12/2023
- EIN
- 30-0290901
Organization Overview
Funding New Beginnings Community Foundation is located in Prophetstown, IL. The organization was established in 2006. According to its NTEE Classification (P99) the organization is classified as: Human Services N.E.C., under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Funding New Beginnings 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, Funding New Beginnings Community Foundation generated $217.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (17.8%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT OF COMMUNITY ACTIVITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO PROPHETSTOWN CUSD #3 SCHOOL DISTRICT (VARIOUS PROJECTS). APPROXIMATELY 1,000 STUDENTS SERVED. APPROXIMATELY 25 SEPARATE GRANTS WERE APPROVED.
SCHOLARSHIP AWARDS - AREA STUDENTS. APPROXIMATELY 30 GRANTS WERE APPROVED AND FUNDED.
DONATIONS TO AREA NON-PROFIT GROUPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Garett Plumley President | Trustee | 1 | $0 |
Megan Thompson Vice President | Trustee | 0.5 | $0 |
Janet Goodell Director | Trustee | 0.5 | $0 |
Michele Williams Director | Trustee | 0.5 | $0 |
Connie Johnson Secretary | Trustee | 0.5 | $0 |
Tom Green 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 | $14,351 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,351 |
| Total Program Service Revenue | $0 |
| Investment income | $202,752 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $217,103 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $127,985 |
| Grants and other assistance to domestic individuals. | $42,900 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,012 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $449 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | -$262,715 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $668,382 |
| Savings and temporary cash investments | $0 |
| 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 | $3,907,857 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,576,239 |
| 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 | $4,576,239 |
| Net assets with donor restrictions | $0 |
| 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 | $4,576,239 |
Grants Awarded
Over the last fiscal year, Funding New Beginnings Community Foundation has awarded $81,977 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
PROPHETSTOWN HIGH SCHOOL PURPOSE: GRANTS | $47,977 |
PROPHETSTOWN LYNDON FOOD PANTRY PURPOSE: FOOD | $14,000 |
PROPHETSTOWN HISTORICAL SOCIETY PURPOSE: REPAIRS | $20,000 |