Rock Island-Milan Education Foundation
- Assets
- $4.1m
- Revenue
- $853.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Rock Island, IL
- Founding
- 03/1994
- Data as of
- 12/2021
- EIN
- 36-3504459
Organization Overview
Rock Island-Milan Education Foundation is located in Rock Island, IL. The organization was established in 1994. 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. Rock Island-Milan Education 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 12/2021, Rock Island-Milan Education Foundation generated $853.5k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $371.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SOLICIT FUNDS FROM THE GENERAL PUBLIC TO PROVIDE SUPPORT FOR ROCK ISLAND - MILAN SCHOOL DISTRICT GRADUATING STUDENTS THROUGH SCHOLARSHIPS AND PROVIDE SUPPORT TO ROCK ISLAND-MILAN SCHOOL DISTRICT TEACHERS WITH TEACHER ASSISTANCE GRANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SOLICIT FUNDS FROM THE GENERAL PUBLIC TO PROVIDE SUPPORT FOR ROCK ISLAND - MILAN SCHOOL DISTRICT GRADUATING STUDENTS THROUGH SCHOLARSHIPS AND PROVIDE SUPPORT TO ROCK ISLAND-MILAN SCHOOL DISTRICT TEACHERS WITH TEACHER ASSISTANCE GRANTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monta Ponsetto Executive Dir. | Trustee | 40 | $50,000 |
Pryce T Boeye Vice President | OfficerTrustee | 1 | $0 |
Cindy Lukasik President | OfficerTrustee | 1 | $0 |
Shelle Showalter Treasurer | OfficerTrustee | 2 | $0 |
Steve Andich Director | Trustee | 1 | $0 |
Dr Reginald Lawrence Director | Trustee | 1 | $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 | $442,149 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $442,149 |
| Total Program Service Revenue | $0 |
| Investment income | $411,350 |
| 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 | $853,499 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $145,214 |
| Grants and other assistance to domestic individuals. | $110,604 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $50,000 |
| Compensation of current officers, directors, key employees. | $15,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,825 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,085 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $284 |
| Advertising and promotion | $114 |
| Office expenses | $1,780 |
| Information technology | $1,100 |
| 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 | $4,024 |
| All other expenses | $847 |
| Total functional expenses | $370,971 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,608 |
| Savings and temporary cash investments | $406,822 |
| 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 | $3,561,660 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,465 |
| Total assets | $4,085,555 |
| Accounts payable and accrued expenses | $1,016 |
| 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 | $1,016 |
| Net assets without donor restrictions | $1,456,333 |
| Net assets with donor restrictions | $2,628,206 |
| 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 | $4,085,555 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rock Island-Milan Education Foundation has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Shockley Foundtion Ormond Beach, FL PURPOSE: GENERAL OPERATING EXPENSES | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Iu Medical Group Foundation Inc Indianapolis, IN | $256,189,183 | $45,380,536 |
Missouri State University Foundation Springfield, MO | $193,009,225 | $33,993,322 |
Wku Student Life Foundation Inc Bowling Green, KY | $178,491,745 | $30,600,200 |
Ball State University Foundation Muncie, IN | $262,845,495 | $25,627,270 |
Ics Support Organization Inc Franklin, WI | $552,959,577 | $28,861,342 |
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 |