Spoon River College Foundation
- Assets
- $7.4m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Canton, IL
- Founding
- 10/1979
- Data as of
- 06/2024
- 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 06/2024, Spoon River College Foundation generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.7% each year . All expenses for the organization totaled $455.1k during the year ending 06/2024. While expenses have increased by 17.0% per year over the past 8 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
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:
Part 3 - Line 4a
259 RECIPIENTS OF 509 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 |
|---|---|---|---|
Curt Oldfield Src President (non-Voting) | Trustee | 2 | $0 |
Lori Murphy Senior Office Assistant (non-Voting) (thru 05/24) | Trustee | 20 | $0 |
Nicholas Tinsman Ex-Officio, Immediate Past Chair (non-Voting) | Trustee | 2 | $0 |
Sarah Gray Fiscal Officer (non-Voting) | Trustee | 5 | $0 |
Amanda Ketcham Associate Fiscal Officer (non-Voting) | Trustee | 5 | $0 |
Bruce Beal Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $15,276 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $887,543 |
| Noncash contributions included in lines 1a–1f | $229,713 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $902,819 |
| Total Program Service Revenue | $0 |
| Investment income | $160,821 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $66,394 |
| Net Income from Fundraising Events | $22,127 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,152,161 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $130,340 |
| Grants and other assistance to domestic individuals. | $183,899 |
| 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 | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $58,796 |
| Fees for services: Investment Management | $26,689 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,161 |
| Office expenses | $25,238 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $20 |
| 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 | $1,932 |
| All other expenses | $10,024 |
| Total functional expenses | $455,099 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $327,129 |
| Savings and temporary cash investments | $2,101,127 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $296,186 |
| 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 | $3,676,739 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $912,798 |
| Total assets | $7,353,979 |
| Accounts payable and accrued expenses | $199,031 |
| 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 | $199,031 |
| Net assets without donor restrictions | $266,323 |
| Net assets with donor restrictions | $6,888,625 |
| 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 | $7,353,979 |