Sterling Today Inc
- Assets
- $7.6m
- Revenue
- $304.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Sterling, IL
- Founding
- 09/1991
- Data as of
- 12/2022
- EIN
- 36-3736451
Organization Overview
Sterling Today Inc is located in Sterling, IL. The organization was established in 1991. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sterling Today Inc 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, Sterling Today Inc generated $304.4k 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 (15.8%) each year. All expenses for the organization totaled $671.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Sterling Today Inc has awarded 18 individual grants totaling $1,349,078. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE AND GENERATE DEVELOPMENT IN THE GREATER STERLING, ILLINOIS AREA TO IMPROVE THE ECONOMIC CONDITIONS AND EMPLOYMENT OPPORTUNITIES IN THE AREA. THIS IS ACCOMPLISHED THROUGH ACQUISITION AND DEVELOPMENT OF COMMERCIAL PROPERTIES AND PROVIDING GRANTS FOR PROJECTS CONSISTENT WITH OUR EXEMPT FUNCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Benson President | 1 | $0 | |
Bryce Mead Vice President | 1 | $0 | |
Elizabeth Klahn Secretary | 1 | $0 | |
Jessica Macklin Treasurer | 1 | $0 | |
Andy Beswick Director | 1 | $0 | |
Dan Hawkins Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $14,714 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$55,328 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $344,976 |
| Total Revenue | $304,362 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $118,444 |
| Depreciation | $126,480 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $148,201 |
| Total operating and administrative expenses | $474,438 |
| Contributions, gifts, grants paid | $196,536 |
| Total expenses and disbursements | $670,974 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,594,692 |
| Net Accounts receivable | $28,186 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $20,873 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $3,911,631 |
| Other assets | $0 |
| Total assets | $7,555,382 |
| Accounts payable and accrued expenses | $121,478 |
| Grants payable | $0 |
| Deferred revenue | $14,011 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $1,750 |
| Total liabilities | $137,239 |
Grants Awarded
Over the last fiscal year, Sterling Today Inc has awarded $196,536 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF STERLING PURPOSE: LANDSCAPING, CHRISTMAS DECOR, AND MARKETPLACE GRANT | $55,434 |
MAIN STREET OF STERLING INC PURPOSE: HISTORICAL PRESERVATION AND FACADE IMPROVEMENTS. | $141,102 |