Sterling Schools Foundation
- Assets
- $7.8m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Sterling, IL
- Founding
- 02/1989
- Data as of
- 06/2023
- EIN
- 36-3575698
Organization Overview
Sterling Schools Foundation is located in Sterling, IL. The organization was established in 1989. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., 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. Sterling Schools 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 06/2023, Sterling Schools Foundation generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $943.4k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Sterling Schools Foundation has awarded 16 individual grants totaling $5,150,261. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST IN THE DEVELOPMENT AND EDUCATION PURPOSES OF STERLING UNIT #5 SCHOOL DISTRICT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AUDITORIUM OPERATIONS - CENTENNIAL AUDITORIUM IS LOCATED ON THE CAMPUS OF STERLING HIGH SCHOOL, WHICH IS PART OF THE STERLING PUBLIC SCHOOL SYSTEM. THE STERLING SCHOOLS FOUNDATION RAISED THE FUNDS TO BUILD THE AUDITORIUM IN 1998 AND CONTINUES TO FUND ALL OPERATIONAL EXPENSES AT THE FACILITY, INCLUDING UPKEEP, MAINTENANCE, UTILITIES, AND STAFF. THIS IS AN ONGOING PROGRAM AND SERVED 15,000 PEOPLE THIS YEAR.
SHS ATHLETIC BOOSTER CLUB PROVIDES AS NEEDED FINANCIAL ASSISTANCE TO STERLING HIGH SCHOOL ATHLETIC PROGRAMS AND ATHLETES. SERVED 453 STUDENTS.
GOLDEN WARRIOR TV PROGRAM PROVIDES LIFE VIDEO COVERAGE OF STERLING PUBLIC SCHOOLS SPORTING EVENTS, CONCERTS, CEREMONIES, ETC. REVENUE IS GENERATED FROM SUBSCRIPTION AND ADVERTISING SALES. NUMBER SERVED 1,000.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Wolber President | OfficerTrustee | 1 | $0 |
Peter W Dillon Vice President | OfficerTrustee | 1 | $0 |
Heather Sotelo Treasurer | OfficerTrustee | 1 | $0 |
Alice Reter Secretary | OfficerTrustee | 1 | $0 |
Ed Andersen Director | Trustee | 1 | $0 |
Pam Capes Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Csi Leasing Inc Ipads For Students For Middle School And | 6/29/20 | $310,285 |
Matthew's Carpentry Construction Of Alumni Center | 6/29/20 | $137,446 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $17,482 |
| Related organizations | $67,951 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $558,484 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $643,917 |
| Total Program Service Revenue | $4,605 |
| Investment income | $289,582 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,900 |
| Net Gain/Loss on Asset Sales | -$11,410 |
| Net Income from Fundraising Events | -$7,954 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $52,635 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,072,222 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $383,014 |
| Grants and other assistance to domestic individuals. | $78,230 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $44,704 |
| Compensation of current officers, directors, key employees. | $41,704 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,911 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,096 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,671 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $123,437 |
| Advertising and promotion | $0 |
| Office expenses | $29,698 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $107,174 |
| Travel | $25 |
| 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 | $44,099 |
| Insurance | $0 |
| All other expenses | $14,067 |
| Total functional expenses | $943,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $50 |
| Savings and temporary cash investments | $149,118 |
| 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 | $938,676 |
| Investments—publicly traded securities | $6,671,045 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,758,889 |
| 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 | $3,798,184 |
| Net assets with donor restrictions | $3,960,705 |
| 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 | $7,758,889 |
Grants Awarded
Over the last fiscal year, Sterling Schools Foundation has awarded $794,673 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
STERLING SCHOOLS CUSD NO 5 PURPOSE: TO ASSIST IN THE DEVELOPMENT AND EDUCATION PURPOSES OF STERLING UNIT #5 SCHOOL DISTRICT. | $720,262 |
STERLING SCHOOLS CUSD NO 5 PURPOSE: TO SUPPORT THE OPERATIONS OF THE CENTENNIAL AUDITORIUM LOCATED ON THE STERLING HIGH SCHOOL CAMPUS. | $74,411 |