Elgin Community College Foundation
- Assets
- $11.1m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Elgin, IL
- Founding
- 08/2014
- Data as of
- 06/2022
- EIN
- 36-3358690
Organization Overview
Elgin Community College Foundation is located in Elgin, IL. The organization was established in 2014. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Elgin Community 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, Elgin Community College Foundation generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $1.0m during the year ending 06/2022. While expenses have increased by 11.1% 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
MAXIMIZE ACCESS TO EXCEPTIONAL EDUCATION THAT WILL IMPROVE LIVES & STRENGTHEN COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION OVERSEES MORE THAN 250 INDIVIDUAL SCHOLARSHIPS. THESE FUNDS PRODUCED 291 AWARDS SUPPORTING THE EDUCATIONAL COMMITMENT OF 270 STUDENTS IN THE 2021-2022 ACADEMIC YEAR. 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, STUDENTS WHO HAVE OVERCOME PHYSICAL AND LIFE OBSTACLES, AND FINANCIAL NEED.
CONTRIBUTIONS TO ELGIN COMMUNITY COLLEGE INCLUDE FUNDING FOR INNOVATIVE FACULTY PROJECTS, EQUIPMENT FOR ACADEMIC PROGRAMS, AND STUDENT LEADERSHIP DEVELOPMENT. IN ADDITION TO ACADEMIC SUPPORT, RESOURCES HAVE ALSO BEEN EXTENDED TO SUPPORT THE SPARTAN FOOD PANTRY FOR STUDENTS STRUGGLING WITH FOOD INSECURITY WHILE TRYING TO BE SUCCESSFUL IN COLLEGE, THE STUDENT EMERGENCY FUND PROVIDING GAP FUNDING TO HELP STUDENTS STAY IN SCHOOL WHEN AN UNFORESEEN EMERGENCY OCCURS THAT MAY PREVENT ACADEMIC PERSISTENCE, AND THE CHILD CARE FUND ASSISTING SINGLE, LOW-INCOME PARENTS WHO ARE ENROLLED AT THE COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Larson Chair | OfficerTrustee | 3 | $0 |
Jenni Betancourt Vice Chair | OfficerTrustee | 2 | $0 |
Robin Seigle Secretary | OfficerTrustee | 2 | $0 |
Larry Jones Immediate Past Chair | OfficerTrustee | 2 | $0 |
Javier Placencia Treasurer | OfficerTrustee | 2 | $0 |
Kim Wagner Asst Treasurer (ex-Officio) | Officer | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $83,933 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,358,604 |
| Noncash contributions included in lines 1a–1f | $220,217 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,442,537 |
| Total Program Service Revenue | $0 |
| Investment income | $1,410 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$10,813 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,433,134 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $418,045 |
| Grants and other assistance to domestic individuals. | $368,227 |
| 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 | $36,293 |
| Fees for services: Other | $157,474 |
| Advertising and promotion | $0 |
| Office expenses | $30,550 |
| 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 | $14,074 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,504 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,038,167 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $839,730 |
| Savings and temporary cash investments | $470,856 |
| Pledges and grants receivable | $491,529 |
| 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 | $14,875 |
| Net Land, buildings, and equipment | $20,256 |
| Investments—publicly traded securities | $9,173,627 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $54,633 |
| Total assets | $11,065,506 |
| Accounts payable and accrued expenses | $28,733 |
| Grants payable | $0 |
| Deferred revenue | $34,700 |
| 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 | $248,969 |
| Total liabilities | $312,402 |
| Net assets without donor restrictions | $1,505,146 |
| Net assets with donor restrictions | $9,247,958 |
| 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 | $11,065,506 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Elgin Community College Foundation has recieved totaling $148,590.
| Awarding Organization | Amount |
|---|---|
Motorola Solutions Foundation Chicago, IL PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
Rotary Club Of Schaumburg-Hoffman Estates Charitable Foundation Inc Hoffman Estates, IL PURPOSE: SCHOLARSHIPS | $50,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | $40,000 |
Florence B & Cornelia A Palmer Foundation Elgin, IL PURPOSE: COLLEGE ARTS POETRY CONTEST | $6,000 |
Robert Gilliam Memorial Scholarship Foundation Elgin, IL PURPOSE: SCHOLARSHIP | $2,590 |
Endowment Analysis
| Beg. Balance | $8,905,044 |
| Earnings | -$1,116,766 |
| Admin Expense | $83,727 |
| Net Contributions | $1,161,445 |
| Other Expense | $256,636 |
| Ending Balance | $8,609,360 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ivy Tech Foundation Inc Indianapolis, IN | $133,152,328 | $30,082,278 |
Umkc Foundation Kansas City, MO | $70,681,044 | $43,162,989 |
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
Illinois State University Foundation Normal, IL | $269,993,016 | $34,747,700 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Southern Illinois University Foundation Carbondale, IL | $260,208,288 | $31,565,742 |
St Louis Charter Schools St Louis, MO | $19,224,709 | $16,300,473 |
Linda Hall Library Trust Kansas City, MO | $201,287,634 | $7,552,380 |
University Research Park Inc Madison, WI | $162,117,796 | $19,527,506 |
Private Education-Employers Trust St Louis, MO | $386,613 | $11,502,248 |
Northern Illinois University Foundation Dekalb, IL | $169,106,712 | $31,131,654 |
Grinnell College Medical Benefit Plan Trust Agreement Grinnell, IA | $11,174,588 | $9,791,771 |