Sterling Schools Foundation
- Assets
- $6.8m
- Revenue
- $840.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Sterling, IL
- Founding
- 02/1989
- Data as of
- 06/2020
- 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 06/2020, Sterling Schools Foundation generated $840.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.0%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Sterling Schools Foundation has awarded 18 individual grants totaling $6,006,229. 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
2020
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.
TOOLS & TECHNOLOGY IS A PROGRAM CREATED TO FUND PURCHASES OF EDUCATIONAL-BASED TECHNOLOGY (HARDWARE, SOFTWARE, AND RELATED SUPPLIES) FOR ALL STUDENTS IN THE STERLING PUBLIC SCHOOL SYSTEM.
THE ACADEMIC BOOSTER CLUB SUPPORTS STERLING HIGH SCHOOL AND CHALLAND MIDDLE SCHOOL, WHICH ARE PART OF THE STERLING PUBLIC SCHOOL SYSTEM. AS A STERLING SCHOOLS FOUNDATION COMMITTEE, THE ORGANIZATION PROVIDES FUNDING TO ENSURE THE HIGH SCHOOL AND MIDDLE SCHOOL CAN OFFER CO-CURRICULAR PROGRAMS LIKE STUDENT COUNCIL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Wolber President | OfficerTrustee | 1 | $0 |
Heather Sotelo Treasurer | OfficerTrustee | 1 | $0 |
Peter W Dillon Vice President | OfficerTrustee | 1 | $0 |
Paul Osborn Secretary | OfficerTrustee | 1 | $0 |
Jim C Spencer Executive Director | Officer | 30 | $0 |
Tad Everett 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 |
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 | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $603,161 |
| Investment income | $192,551 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,683 |
| Net Gain/Loss on Asset Sales | $752 |
| Net Income from Fundraising Events | $18,338 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $9,733 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $840,660 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $107,886 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $41,450 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,289 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,620 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,820 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,560 |
| Office expenses | $751 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,050,389 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $50 |
| Savings and temporary cash investments | $470,300 |
| 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 |
| Investments—publicly traded securities | $5,807,947 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,790,270 |
| Accounts payable and accrued expenses | $5,573 |
| 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 | $5,573 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $6,784,697 |
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 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Sterling Schools Foundation has recieved totaling $1,030.
| Awarding Organization | Amount |
|---|---|
Wheelock Family Foundation Tarpon Springs, FL PURPOSE: CHARITABLE | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $30 |
Endowment Analysis
| Beg. Balance | $297,293 |
| Earnings | $76,668 |
| Other Expense | $23,250 |
| Ending Balance | $350,711 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lycee Francais De Chicago Inc Chicago, IL | $48,724,560 | $20,322,112 |
Strada Collaborative Inc Indianapolis, IN | $87,757,237 | $36,146,755 |
Sertoma Centre Inc Alsip, IL | $22,208,490 | $17,472,414 |
Connected Nation Inc Bowling Green, KY | $5,021,239 | $16,572,653 |
National Association Of State Procurement Officials Lexington, KY | $137,920,901 | $31,374,950 |
Cross Trails Medical Center Cape Girardeau, MO | $16,622,925 | $13,747,968 |
Institute For Quality Education Inc Indianapolis, IN | $12,107,092 | $12,010,135 |
Lac Courte Oreilles Ojibwe School Hayward, WI | $14,755,136 | $9,679,407 |
School Smart Kc Inc Kansas City, MO | $7,202,506 | $7,640,451 |
Illinois Cpa Society Chicago, IL | $13,009,574 | $9,942,006 |
Bowling Green Warren County Primary Care Center Inc Bowling Green, KY | $15,935,520 | $7,530,325 |
Chicago Bar Foundation Chicago, IL | $2,729,689 | $8,402,012 |