Rock Island-Milan Education Foundation
- Assets
- $3.7m
- Revenue
- $175.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Rock Island, IL
- Founding
- 03/1994
- Data as of
- 12/2022
- 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 12/2022, Rock Island-Milan Education Foundation generated $175.9k 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 (21.9%) each year. All expenses for the organization totaled $571.3k during the year ending 12/2022. 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 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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monta Ponsetto Executive Dir. | Trustee | 40 | $57,000 |
Bob Swanson Director | Trustee | 1 | $0 |
Dr Bryan Blew Secretary | OfficerTrustee | 1 | $0 |
Zach Edwards Director | Trustee | 1 | $0 |
Cindy Lukasik Director | Trustee | 1 | $0 |
Pryce T Boeye President | OfficerTrustee | 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 | $782,194 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $782,194 |
| Total Program Service Revenue | $0 |
| Investment income | -$606,335 |
| 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 | $175,859 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $306,412 |
| Grants and other assistance to domestic individuals. | $137,200 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $57,000 |
| Compensation of current officers, directors, key employees. | $17,100 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,361 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,641 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $304 |
| Advertising and promotion | $100 |
| Office expenses | $2,904 |
| Information technology | $1,320 |
| 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 | $2,919 |
| All other expenses | $355 |
| Total functional expenses | $571,322 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $307,231 |
| Savings and temporary cash investments | $178,806 |
| 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 | $3,200,967 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,072 |
| Total assets | $3,689,076 |
| 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 | $834,499 |
| Net assets with donor restrictions | $2,854,577 |
| 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 | $3,689,076 |