Spoon River College Foundation
- Assets
- $5.7m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Canton, IL
- Founding
- 10/1979
- Data as of
- 06/2022
- EIN
- 37-1068663
Organization Overview
Spoon River College Foundation is located in Canton, IL. The organization was established in 1979. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, 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. Spoon River College 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 06/2022, Spoon River College Foundation generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.1% each year . All expenses for the organization totaled $345.9k during the year ending 06/2022. While expenses have increased by 15.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION IS THE KEY TO A SUCCESSFUL FUTURE. THE SPOON RIVER COLLEGE FOUNDATION ACTIVELY SEEKS RESOURCES TO PROVIDE EXCELLENT EDUCATIONAL OPPORTUNITIES AT SPOON RIVER COLLEGE.
Describe the Organization's Program Activity:
215 RECIPIENTS OF 426 SCHOLARSHIPS AWARDED
INSTITUTIONAL SUPPORT REPRESENTS EXPENDITURES FOR EQUIPMENT AND EXPENSES TO HELP MEET THE INSTITUTIONAL NEEDS OF SPOON RIVER COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Staci Mayall Treasurer | OfficerTrustee | 2 | $0 |
Nicholas Tinsman Vice Chair | OfficerTrustee | 2 | $0 |
Denise Kirgan Chair | OfficerTrustee | 2 | $0 |
J Colin Davis Foundation Director | Officer | 2 | $0 |
Sarah Gray Fiscal Officer | Officer | 5 | $0 |
Mitchell Coonradt Ex-Officio, Immediate Past Chair | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $11,019 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $870,835 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $881,854 |
| Total Program Service Revenue | $0 |
| Investment income | $54,962 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $197,957 |
| Net Income from Fundraising Events | -$11,019 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,123,754 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $141,764 |
| Grants and other assistance to domestic individuals. | $119,753 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,120 |
| Advertising and promotion | $52,284 |
| Office expenses | $0 |
| 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 | $345,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $873,413 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,509 |
| 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 | $40,000 |
| Investments—publicly traded securities | $3,910,643 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $821,951 |
| Total assets | $5,657,516 |
| Accounts payable and accrued expenses | $55,934 |
| 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 | $55,934 |
| Net assets without donor restrictions | $239,203 |
| Net assets with donor restrictions | $5,362,379 |
| 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 | $5,657,516 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Spoon River College Foundation has recieved totaling $14,278.
| Awarding Organization | Amount |
|---|---|
Gene And Marie Long Memorial Tua Las Vegas, NV PURPOSE: GENERAL OPERATING | $14,140 |
Otto Baum Company Inc Foundation Morton, IL PURPOSE: CHARITABLE | $100 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $38 |
Endowment Analysis
| Beg. Balance | $3,837,413 |
| Earnings | -$424,157 |
| Net Contributions | $619,863 |
| Other Expense | $74,851 |
| Ending Balance | $3,958,268 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Millikin University Decatur, IL | $270,927,180 | $97,576,221 |
Wartburg College Waverly, IA | $247,960,217 | $101,117,542 |
College Of The Ozarks Point Lookout, MO | $787,489,229 | $134,988,466 |
Coe College Cedar Rapids, IA | $182,564,776 | $91,175,984 |
Beloit College Beloit, WI | $210,386,491 | $86,166,985 |
Knox College Galesburg, IL | $294,322,347 | $90,404,751 |
Wabash College Crawfordsville, IN | $537,122,152 | $89,745,763 |
Earlham College Richmond, IN | $378,034,692 | $128,405,386 |
Drury University Springfield, MO | $197,297,672 | $75,721,067 |
Hanover College Trustees Hanover, IN | $246,034,374 | $66,713,330 |
University Of Saint Francis Of Fort Wayne Indiana Inc Fort Wayne, IN | $133,868,306 | $78,578,588 |
Central College Pella, IA | $182,044,293 | $65,374,610 |