Galesburg Public Schools Foundation

Organization Overview

Galesburg Public Schools Foundation is located in Galesburg, IL. The organization was established in 1988. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Galesburg Public 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 12/2022, Galesburg Public Schools Foundation generated $52.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.9%) each year. All expenses for the organization totaled $59.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE RECEIPT OF FUNDS TO BE USED SOLELY TO SUPPLEMENT EDUCATIONAL, EXTRA-CURRICULAR, AND INTERSCHOLASTIC PROGRAMS OPERATED BY THE BOARD OF EDUCATION OF GALESBURG, COMMUNITY UNIT SCHOOL DISTRICT 205, COUNTIES OF KNOX AND WARREN, ILLINOIS, AND STRENGTHEN THE RELATIONSHIP BETWEEN THE PUBLIC SHCOOLS AND THE GALESBURG COMMUNITY. ALSO TO OVERSEE VARIOUS RESOURCES RECEIVED FROM DONORS TO BE INVESTED AND USED IN ACCORDANCE WITH TERMS SPECIFIED BY THE DONOR FOR SCHOLARSHIPS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO RAISE FUNDS FOR GALESBURG COMMUNITY SCHOOL DISTRICT 205 ACADEMIC PROJECTS AND THE PURCHASE OF VARIOUS EDUCATIONAL ITEMS FOR THE DISTRICT.


TO MAINTAIN AND SERVE A FIDUCIARY RELATIONSHIP FOR SCHOLARSHIP AND MEMORIAL FUNDS RESTRICTED BY DONORS TO BE USED TO SUPPLEMENT DISTRICT 205 PROJECTS.


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Board, Officers & Key Employees

Name (title)Compensation
Lynn Armstrong
Secretary
$0
Ben Bredemeier
Director
$0
Jenny Bredemeier
Director
$0
Mary Esp
Director
$0
Denise Foote
Director
$0
Karen Hawkinson
Treasurer
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$47,151
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$47,151
Total Program Service Revenue$0
Investment income $17,566
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$12,110
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $52,612

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