Palestine Academic Foundation
- Assets
- $613.6k
- Revenue
- $20.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Palestine, IL
- Founding
- 05/1994
- Data as of
- 10/2023
- EIN
- 37-1318472
Organization Overview
Palestine Academic Foundation is located in Palestine, IL. The organization was established in 1994. According to its NTEE Classification (P58) the organization is classified as: Gift Distribution, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palestine Academic 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 10/2023, Palestine Academic Foundation generated $20.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (67.0%) each year. All expenses for the organization totaled $34.1k during the year ending 10/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE A NON-PROFIT ORGANIZATION THAT HELPS FUND THE 'OVER AND ABOVE' EDUCATION NEEDS OF PALESTINE DISTRICT STUDENTS. WE STRIVE TO DEVELOP PRIDE IN THE EDUCATIONAL PROGRAM AT BOTH PALESTINE GRADE AND HIGH SCHOOLS AMONG THE PEOPLE OF THE COMMUNITY. WE ALSO HAVE A DESIRE TO PROVIDE UNUSUAL LEARNING EXPERIENCES, IMPROVE GENERAL ACADEMIC RESOURCES, AND ESTABLISH A SUPPORT SYSTEM FOR THOSE WANTING TO WORK ON ADVANCED ACADEMIC PROJECTS. WE STRIVE TO ENHANCE COMMUNICATION BETWEEN SCHOOLS AND THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRICT TEACHER REQUESTS
ADMINISTER TWO AREA SCHOLARSHIPS: FUNDS DISTRIBUTED DIRECTLY TO UNIVERSITIES OF RECIPIENTS. (VINCENNES UNIVERSITY $5,000, BELLARMINE UNIVERSITY $2,000, EASTERN ILLINOIS UNIVERSITY $6,000, MISSOURI BAPTIST UNIVERSITY $2,000, LINCOLN TRAIL COLLEGE $2,000)
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsay Beabout Member | Trustee | 0.5 | $0 |
Dawn Biggs Member | Trustee | 1 | $0 |
Janice Fuller Secretary | OfficerTrustee | 2 | $0 |
Canda Pethtel President | OfficerTrustee | 2 | $0 |
Stacie Ogle Treasurer | OfficerTrustee | 2 | $0 |
Aprille Musgrave Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $150 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,059 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,209 |
| Total Program Service Revenue | $4,075 |
| Investment income | $12,419 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,703 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $17,000 |
| 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 | $4,312 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $57 |
| 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 | $12,733 |
| Total functional expenses | $34,102 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $60,467 |
| Pledges and grants receivable | $3,000 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $550,098 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $613,565 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $63,467 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $550,098 |
| Total liabilities and net assets/fund balances | $613,565 |