Rock Valley College Foundation
- Assets
- $15.8m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Rockford, IL
- Founding
- 10/1979
- Data as of
- 06/2022
- EIN
- 36-3037232
Organization Overview
Rock Valley College Foundation is located in Rockford, IL. The organization was established in 1979. 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. Rock Valley 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, Rock Valley College Foundation generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $972.3k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Rock Valley College Foundation has awarded 23 individual grants totaling $5,214,990. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ROCK VALLEY COLLEGE FOUNDATION PROVIDES SUPPORT TO ROCK VALLEY COLLEGE AND ITS STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDATION SCHOLARSHIPS AND EMERGENCY RELIEF AWARDS GIVEN TO 192 STUDENTS ATTENDING ROCK VALLEY COLLEGE DURING THE YEAR ENDING JUNE 30, 2022 TOTALING $381,844.
ALL OTHER PROGRAMS
CONTRIBUTIONS TO ROCK VALLEY COLLEGE DURING THE YEAR ENDED JUNE 30, 2022. THE FOUNDATION PROVIDED CASH GRANTS AND ASSISTANCE TOTALING $159,994.
THE ROCK VALLEY COLLEGE FOUNDATION REACHED THE $1,000,000 GOAL TO SECURE FUNDS TO SUPPORT RVC SCHOLARSHIPS THAT WILL DIRECTLY SUPPORT STUDENT SUCCESS THROUGH THE RVC STRONG CAMPAIGN. THE MISSION OF THE RVC STRONG CAMPAIGN WAS TO EDUCATE AND ENGAGE THE COMMUNITY ON THE IMPORTANCE OF ACCESS AND INCLUSION THROUGH SCHOLARSHIP ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert W Stenstrom President | OfficerTrustee | 2 | $0 |
Lorayne Logan Vice President | OfficerTrustee | 2 | $0 |
Brent Bernardi Secretary | OfficerTrustee | 2 | $0 |
Brent Brodeski Member | Trustee | 2 | $0 |
Bridgett Coleman Member | Trustee | 2 | $0 |
Lesly Couper Member | Trustee | 2 | $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 | $1,784,543 |
| Noncash contributions included in lines 1a–1f | $82,690 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,784,543 |
| Total Program Service Revenue | $0 |
| Investment income | $420,621 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $22,214 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,227,378 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $159,994 |
| Grants and other assistance to domestic individuals. | $381,844 |
| 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 | $228,504 |
| 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 | $70,734 |
| Fees for services: Other | $8,620 |
| Advertising and promotion | $75 |
| Office expenses | $21,739 |
| Information technology | $25,053 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $373 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,306 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $70,042 |
| Total functional expenses | $972,284 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $708,255 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $349,130 |
| 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 | $14,774,964 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,832,349 |
| Accounts payable and accrued expenses | $62 |
| 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 | $198,546 |
| Total liabilities | $198,608 |
| Net assets without donor restrictions | $4,352,575 |
| Net assets with donor restrictions | $11,281,166 |
| 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 | $15,832,349 |
Grants Awarded
Over the last fiscal year, Rock Valley College Foundation has awarded $159,994 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ROCK VALLEY COLLEGE PURPOSE: TO SUPPORT THE RVC TECH BUS OPERATIONS | $87,464 |
ROCK VALLEY COLLEGE PURPOSE: TO SUPPORT AVIATION, DENTAL HYGIENE, CNC, ATHLETICS, AND OTHER DEPARTMENTS AT RVC. | $72,530 |