Oakton Community College Educational Foundation
- Assets
- $18.0m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Des Plaines, IL
- Founding
- 10/1977
- Data as of
- 06/2022
- EIN
- 36-2917302
Organization Overview
Oakton Community College Educational Foundation is located in Des Plaines, IL. The organization was established in 1977. According to its NTEE Classification (B41) the organization is classified as: Two-Year 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. Oakton Community College Educational 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, Oakton Community College Educational Foundation generated $4.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $1.7m during the year ending 06/2022. While expenses have increased by 3.7% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENABLE STUDENT SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION OVERSEES MORE THAN 140 ACTIVE SCHOLARSHIPS AND DISTRIBUTED 502 SCHOLARSHIP AWARDS TO OVER 467 INDIVIDUAL STUDENTS, REWARDING OUTSTANDING ACHIEVEMENT AND ASSISTING SCHOLARS WHO FACE BARRIERS TO ACADEMIC ACHIEVEMENT. SCHOLARSHIP AWARDS ARE MADE BASED ON CRITERIA ESTABLISHED BY DONORS, WHICH MAY INCLUDE BUT IS NOT LIMITED TO ACADEMIC EXCELLENCE, DEMONSTRATED LEADERSHIP STRENGTHS, SPECIFIC PROGRAMS OF STUDY, AND FINANCIAL NEED.
THE FOUNDATION EXTENDED 22 INDIVIDUAL PROJECT GRANTS TO FACULTY AND EMPLOYEES TO SEED INNOVATION AND FUEL STUDENT AND COMMUNITY ENGAGEMENT OPPORTUNITIES. SEVERAL OF THESE PROJECTS WERE INTERRUPTED DUE TO THE CONTINUING CHALLENGES OF THE COVID-19 CRISIS.
EMERGENCY FUNDS PROVIDED TO STUDENTS AND EMPLOYEES WHO FACE UNEXECTED HARDSHIP THAT MIGHT PREVENT THEM FROM CONTINUING THEIR EDUCATION AS WELL AS AWARDS FOR EMPLOYEE EXCELLENCE RELATED TO EXCEPTIONAL STUDENT SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carl Costanza President | OfficerTrustee | 0.3 | $0 |
Murray Sprung Vice President | OfficerTrustee | 0.3 | $0 |
Howard Singer Immed Past President | OfficerTrustee | 0.3 | $0 |
Jeff Coney Treasurer | OfficerTrustee | 0.3 | $0 |
Joianne Smith Dir - Ex Officio | Officer | 1 | $0 |
Katherine Sawyer Dir-Ex Officio, Chief Adv. | Officer | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $100,200 |
| Government grants | $220,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,063,966 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,384,166 |
| Total Program Service Revenue | $0 |
| Investment income | $409,916 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,482,040 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,276,971 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $816,445 |
| Grants and other assistance to domestic individuals. | $822,443 |
| 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 | $37,444 |
| Fees for services: Other | $40,214 |
| Advertising and promotion | $0 |
| Office expenses | $13,676 |
| Information technology | $4,120 |
| 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 | $1,747,935 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $360,325 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $244,601 |
| 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 | $17,340,380 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,448 |
| Total assets | $17,956,754 |
| Accounts payable and accrued expenses | $14,479 |
| 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 | $95,216 |
| Total liabilities | $109,695 |
| Net assets without donor restrictions | $9,360,115 |
| Net assets with donor restrictions | $8,486,944 |
| 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 | $17,956,754 |
Grants Awarded
Over the last fiscal year, Oakton Community College Educational Foundation has awarded $517,310 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
OAKTON COMMUNITY COLLEGE PURPOSE: See Part IV | $395,844 |
OAKTON COMMUNITY COLLEGE PURPOSE: General support | $121,466 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Oakton Community College Educational Foundation has recieved totaling $69,700.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $55,100 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,600 |
Seabury Foundation Chicago, IL PURPOSE: GENERAL OPERATING | $6,000 |
Circle Of Service Foundation Chicago, IL PURPOSE: MATCHING/DISCRETIONARY | $2,000 |
Endowment Analysis
| Beg. Balance | $6,668,864 |
| Earnings | -$694,537 |
| Net Contributions | $461,040 |
| Other Expense | $47,353 |
| Grants | $179,438 |
| Ending Balance | $6,208,576 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Augustine College Chicago, IL | $15,853,961 | $18,146,895 |
Ancilla Domini College Plymouth, IN | $0 | $14,414,276 |
Pierce Mortuary Colleges Inc Broadview, IL | $14,603,316 | $16,634,477 |
College Of The Menominee Nation Keshena, WI | $15,783,806 | $11,637,458 |
Lac Courte Oreilles Ojibwe College Hayward, WI | $16,000,980 | $10,229,989 |
The Metropolitan Community College Foundation Kansas City, MO | $16,663,239 | $3,405,477 |
Kirkwood Community College Foundation Cedar Rapids, IA | $43,540,342 | $11,748,704 |
Southeastern Community College Foundation West Burlington, IA | $16,375,654 | $3,936,639 |
Indian Hills Community College Foundation Ottumwa, IA | $33,459,627 | $8,575,991 |
Morrison Institute Of Technology Morrison, IL | $3,310,964 | $2,173,933 |
Oakton Community College Educational Foundation Des Plaines, IL | $17,956,754 | $4,276,971 |
Missouri Community College Association Jefferson City, MO | $590,069 | $1,604,920 |