Civic Intelligence

William Rainey Harper College Educational Foundation

EIN 23-7348228 • 501(c)3 • Palatine, IL

Profile

The harper college educational foundation was established in 1973 as a non-profit (501 [c][3]) organization to provide funding and resources for the college not available through normal government and tax sources. Money and resources raised by the foundation are used to provide an edge of excellence to college programs and services.the purpose of the foundation is to:support the educational goals of the college.assist the college in providing broader educational opportunities for students, alumni, citizens and employees.acquire additional assets for the college and administer these assets for the good of the college.encourage corporations, foundation and individuals to bestow on the college gifts, grants or bequests of money or property to be used for special instruction, research, scholarships, enrichment and development programs.act in a fiduciary capacity to carry out any of the foregoing purposes.

1200 West Algonquin RoadPalatine, IL 60067

www.harpercollege.edu/FOUNDATION

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

5th percentile

0.00x

Higher debt load relative to assets than 5% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

7th percentile

0.01x

Higher debt load relative to revenue than 7% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

71st percentile

15%

Higher net margin than 71% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

23rd percentile

$213,861

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 4.9% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

53rd percentile

6.6%

Faster asset growth than 53% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

91st percentile

88%

Faster revenue growth than 91% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets5th percentile

Assets

Up

$51,628,253

Up $3,195,964 (+6.6%) from 2023

Liabilities

Down

$52,818

Down $353,681 (-87%) from 2023

Net Assets

Up

$51,575,435

Up $3,549,645 (+7.4%) from 2023

Operations
Liabilities / Revenue7th percentileNet Margin71st percentile

Revenue

Up

$4,332,266

Up $2,025,336 (+88%) from 2023

Expenses

Down

$3,666,572

Down $2,475,095 (-40%) from 2023

Net Income

Up

$665,694

Up $4,500,431 (+117%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth53rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2014: $14,488,709Liabilities 2014: $73,897Net Assets 2014: $14,414,8122014Assets 2015: $15,312,576Liabilities 2015: $53,927Net Assets 2015: $15,258,6492015Assets 2016: $17,290,503Liabilities 2016: $45,448Net Assets 2016: $17,245,0552016Assets 2017: $19,628,569Liabilities 2017: $726,889Net Assets 2017: $18,901,6802017Assets 2018: $22,715,069Liabilities 2018: $283,482Net Assets 2018: $22,431,5872018Assets 2019: $30,436,175Liabilities 2019: $146,184Net Assets 2019: $30,289,9912019Assets 2020: $31,854,265Liabilities 2020: $111,049Net Assets 2020: $31,743,2162020Assets 2021: $56,698,898Liabilities 2021: $119,946Net Assets 2021: $56,578,9522021Assets 2022: $50,154,930Liabilities 2022: $380,508Net Assets 2022: $49,774,4222022Assets 2023: $48,432,289Liabilities 2023: $406,499Net Assets 2023: $48,025,7902023Assets 2024: $51,628,253Liabilities 2024: $52,818Net Assets 2024: $51,575,4352024

Highlighted filing

2024

Assets$51,628,253
Liabilities$52,818
Net Assets$51,575,435
Open 2024 Filing

Operations Trend

Revenue Growth91st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MRevenue 2014: $7,066,403Expenses 2014: $554,077Net Income 2014: $6,512,3262014Revenue 2015: $1,708,109Expenses 2015: $920,160Net Income 2015: $787,9492015Revenue 2016: $2,818,201Expenses 2016: $795,321Net Income 2016: $2,022,8802016Revenue 2017: $1,687,384Expenses 2017: $987,164Net Income 2017: $700,2202017Revenue 2018: $3,929,438Expenses 2018: $1,153,457Net Income 2018: $2,775,9812018Revenue 2019: $8,261,041Expenses 2019: $1,408,908Net Income 2019: $6,852,1332019Revenue 2020: $3,502,263Expenses 2020: $2,482,611Net Income 2020: $1,019,6522020Revenue 2021: $21,902,919Expenses 2021: $2,905,985Net Income 2021: $18,996,9342021Revenue 2022: $4,699,112Expenses 2022: $8,180,651Net Income 2022: -$3,481,5392022Revenue 2023: $2,306,930Expenses 2023: $6,141,667Net Income 2023: -$3,834,7372023Revenue 2024: $4,332,266Expenses 2024: $3,666,572Net Income 2024: $665,6942024

Highlighted filing

2024

Revenue$4,332,266
Expenses$3,666,572
Net Income$665,694
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$51,628,253
Liabilities
$52,818
Net assets
$51,575,435
Revenue
$4,332,266
Expenses
$3,666,572
Net income
$665,694
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$51.6$0.05$51.6$4.33$3.67$0.67
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$48.4$0.41$48.0$2.31$6.14$3.83
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$50.2$0.38$49.8$4.70$8.18$3.48
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$56.7$0.12$56.6$21.9$2.91$19.0
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$31.9$0.11$31.7$3.50$2.48$1.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.4$0.15$30.3$8.26$1.41$6.85
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.7$0.28$22.4$3.93$1.15$2.78
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.6$0.73$18.9$1.69$0.99$0.70
2016Detailed filing. Detailed filing data is available for this year.$17.3$0.05$17.2$2.82$0.80$2.02
2015Detailed filing. Detailed filing data is available for this year.$15.3$0.05$15.3$1.71$0.92$0.79
2014Detailed filing. Detailed filing data is available for this year.$14.5$0.07$14.4$7.07$0.55$6.51
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 12, 2025
Return Version
2023v6.0
Gross Receipts
$5,999,265
Mission and Program Overview

Mission

The harper college educational foundation was established in 1973 as a non-profit (501 [c][3]) organization to provide funding and resources for the college not available through normal government and tax sources. Money and resources raised by the foundation are used to provide an edge of excellence to college programs and services.the purpose of the foundation is to:support the educational goals of the college.assist the college in providing broader educational opportunities for students, alumni, citizens and employees.acquire additional assets for the college and administer these assets for the good of the college.encourage corporations, foundation and individuals to bestow on the college gifts, grants or bequests of money or property to be used for special instruction, research, scholarships, enrichment and development programs.act in a fiduciary capacity to carry out any of the foregoing purposes.

Provides scholarships and enhances the quality of the educational environment and programming.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$45,541,921$47,670,434▲ $2,128,513
Savings and Temporary Cash Investments$2,608,252$3,026,061▲ $417,809
Pledges and Grants Receivable$274,126$931,758▲ $657,632
Accounts Receivable$7,990$0▼ $7,990
Total Assets$48,432,289$51,628,253▲ $3,195,964
Liabilities
Accounts Payable and Accrued Expenses$406,499$52,818▼ $353,681
Total Liabilities$406,499$52,818▼ $353,681
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$34,725,234$35,673,870▲ $948,636
Net Assets With Donor Restrictions$13,300,556$15,901,565▲ $2,601,009
Total Net Assets Fund Balance$48,025,790$51,575,435▲ $3,549,645
Total Liabilities and Net Assets / Fund Balance$48,432,289$51,628,253▲ $3,195,964

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$39,719,126$1,086,066▲ $3,576,405$-16,805$41,961,991
2022$38,427,998$873,331▲ $2,456,342$-60,130$39,719,126
2021$33,092,450$9,910,394▼ $3,318,154$-747,850$38,427,998
2020$27,000,612$2,894,182▲ $4,913,758$-328,174$33,092,450
2019$25,382,278$2,318,468▲ $617,770$-25,539$27,000,612
Compensation and Service Providers
Top Officer Pay23rd percentile

Employees

NameTitleFull / Part TimeOtherTotal
Heather ZoldakAsso. Exec. Direc.foundatiFT$148,382$148,382

Board Members and Trustees

NameTitle
Richard P HoholPast President
Brenda KnoxPresident
Diane Hill(ex-officio) Trustee Liais
Anthony WayDirector
Brian BattleDirector
Deirdre MannaDirector
Eric HarrellDirector
Jake SadoffDirector
James PfeifferDirector
Jeffrey F SronkoskiDirector
Joe MartinDirector
John ChapmanDirector
Kathy GilmerDirector
Kim MaguireDirector
Lori LeberDirector
Marcela MelendezDirector
Melanie WittDirector
Nancy M CastleDirector
Patrick DominickDirector
Polly DavenportDirector
Raju DatlaDirector
Randy L GreenDirector
Robin S TurpinDirector
Sam OliverDirector
Scot PepperDirector
Steve JacksonDirector
Susan RogersDirector
Thomas G WischhusenDirector
Rafael MalpicaVP Board Membership
Dr Avis Proctor(ex-officio)
Laura J Brown(ex-officio) Chief Advance
Ella LibermanMember at Large
Patty MoyerSecretary
Georgeanna MehrTreasurer
W Bradley StetsonVP Development
Mark W ClearyVP Programs
Revenue and Support

Revenue Composition

Contributions and Grants
$3,080,482
Program Service Revenue
$0
Investment Income
$1,287,294
Other Revenue
$-35,510
All Other Contributions
$2,734,041
Change in Net Assets
$665,694

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Cars and Other Vehicles1$242,000Fair Market Value (FMV)
Securities Publicly Traded7$97,353Stock Quotes
Other Non Cash Contri Table1$12,524Fair Market Value (FMV)
Other Non Cash Contri Table1$5,000Fair Market Value (FMV)
Other Non Cash Contri Table1$2,564Fair Market Value (FMV)
Total Noncash Contributions11$359,441-

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,190,829
Revenue Not Reported on Financial Statements
$141,437
Revenue Not Reported on Form 990
$3,608,430
Total Revenue per Audited Statements
$7,799,259
Total Revenue per Form 990
$4,332,266
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,366,055
Other Expenses$300,517
Total Fundraising Expense$72,942
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$2,871,857--$2,871,857
Grants to Domestic Orgs$494,198--$494,198
Fees for Service Investment Mgmnt Fees-$141,437-$141,437
Fees for Services Other$13,344$39,470$72,942$125,756
Conferences and Meetings$7,996--$7,996
Insurance-$6,738-$6,738
Travel-$963-$963
Other Expenses$11,479$109-$109
Total Functional Expenses$3,398,874$194,756$72,942$3,666,572

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,249,614
Total Expenses per Form 990$3,666,572
Expenses per Audited Statements$3,525,135
Expenses Not Reported on Form 990$724,479
Expenses Not Reported on Financial Statements$141,437
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
William Rainey Harper CollegePalatine, IL501(c)(1)Program Grants, Resource for Excellence$494,198
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$93,255
Fundraising Gross Income$57,745
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$168,571$55,438$5,460$49,978
Top Golf$2,930$2,307-$2,307
Total Events$194,961$57,745$57,745$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Form 990 is given to the foundations senior director finance and operations and audit committee where it is reviewed before filing.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy is emailed to all foundation board members to be signed and returned at their annual one on one meeting with the foundation chief advancement officer. Policy requires that all potential conflicts of interest shall be presented in writing to the foundation president and the foundation chief advancement officer for purposes of review and possible remedial action. Such action may include holding information on file, informing the board of the appearance of conflict of interest, or requiring the chief advancement officer to either cease and desist activity or to relinquish foundation directorship.”

Form 990, Part VI, Section B, Line 15

“All compensation is paid by a related party william rainey harper college. The foundation relied on a harper college's compensation procedures to establish top management official's compensation. Harper college had a salary survey done in the educational advancement for the midwest region from case and indicate that top management positions are compensated competitively based on organizational size, responsibility and experience.”

Form 990, Part VI, Section C, Line 19

“The governing documents, 990, audited financial statements and conflict of interest policy is available to the public upon written request. All request will be submitted to, fulfilled and logged by the foundation senior director finance and operations.”

Filing and Contact Details

Filer

Filer Name
William Rainey Harper College
EIN
23-7348228
Phone
8479256490
Address
1200 WEST ALGONQUIN ROAD, PALATINE, IL 60067

Signing Officer

Name
Heather Zoldak
Title
Chief Advancement Officer
Phone
8479256490
Signed
2025-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Heather Zoldak
Formed
1973
Legal Domicile
Il
Voting Board Members
32
Independent Board Members
32
Employees
0
Volunteers
185

Preparer

Firm
Sikich LLC
Address
1415 W DIEHL RD SUITE 400, NAPERVILLE, IL 60563-2349
Preparer
Heather Bonifas CPA
Phone
6305668400
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

“The intended use of the endowment funds is for scholarships and other activities that support the college.”

PART X, LINE 2:

“The foundation is a not-for-profit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code as other than a private foundation. The foundation evaluates its uncertain tax positions on an annual basis, and there have been no recorded uncertain tax positions recorded in 2024, 2023 or 2022. Therefore, no provision or liability for income taxes has been included in the financial statements. The foundation files various federal or state non-profit tax returns. The foundation is no longer subject to u.s. Federal or state examinations by tax authorities for tax years prior to 2021, respectively.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Special event expense 93,255.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Special event expense 93,255.”

Raw XML AppendixShowing 400 of 796 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0PROVIDES SCHOLARSHIPS AND ENHANCES THE QUALITY OF THE EDUCATIONAL ENVIRONMENT AND PROGRAMMING.
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IRS990/Desc0SCHOLARSHIPS: THE FOUNDATION OVERSEES MORE THAN 239 SCHOLARSHIPS AND AWARDS TO OVER 1219 INDIVIDUALS ANNUALLY. THESE SCHOLARSHIPS PROVIDE ASSISTANCE AND SUPPORT TO STUDENT SCHOLARS AND STUDENTS FACING BARRIERS TO ACADEMIC ACHIEVEMENT. PROGRAM GRANTS: THE FOUNDATION PROVIDES SEED MONEY FOR EXCELLENCE IN TEACHING AND LEARNING THROUGH THE RESOURCES FOR EXCELLENCE GRANT PROCESS. SOME PAST GRANT RECIPIENTS INCLUDE PROGRAMS THAT SERVE WOMEN, MINORITY STUDENTS AND STUDENTS WITH DISABILITIES, AS WELL AS DEGREE PROGRAMS IN THE FIELDS OF HEALTHCARE, MANUFACTURING AND SCIENCE.
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IRS990/Form990PartVIISectionAGrp/PersonNm5W BRADLEY STETSON
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IRS990/Form990PartVIISectionAGrp/PersonNm21JOE MARTIN
IRS990/Form990PartVIISectionAGrp/PersonNm22MARCELA MELENDEZ
IRS990/Form990PartVIISectionAGrp/PersonNm23SAM OLIVER
IRS990/Form990PartVIISectionAGrp/PersonNm24SCOT PEPPER
IRS990/Form990PartVIISectionAGrp/PersonNm25JAMES PFEIFFER
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IRS990/Form990PartVIISectionAGrp/PersonNm28JEFFREY F SRONKOSKI
IRS990/Form990PartVIISectionAGrp/PersonNm29ROBIN S TURPIN
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IRS990/Form990PartVIISectionAGrp/PersonNm31THOMAS G WISCHHUSEN
IRS990/Form990PartVIISectionAGrp/PersonNm32MELANIE WITT
IRS990/Form990PartVIISectionAGrp/PersonNm33LAURA J BROWN
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IRS990/Form990PartVIISectionAGrp/PersonNm35DR AVIS PROCTOR
IRS990/Form990PartVIISectionAGrp/PersonNm36DIANE HILL
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1PAST PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4VP BOARD MEMBERSHIP
IRS990/Form990PartVIISectionAGrp/TitleTxt5VP DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6VP PROGRAMS
IRS990/Form990PartVIISectionAGrp/TitleTxt7MEMBER AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt32DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt33(EX-OFFICIO) CHIEF ADVANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt34ASSO. EXEC. DIREC.FOUNDATI
IRS990/Form990PartVIISectionAGrp/TitleTxt35(EX-OFFICIO)
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IRS990/MissionDesc0THE HARPER COLLEGE EDUCATIONAL FOUNDATION WAS ESTABLISHED IN 1973 AS A NON-PROFIT (501 (C)(3)) ORGANIZATION TO PROVIDE FUNDING AND RESOURCES FOR THE COLLEGE NOT AVAILABLE THROUGH NORMAL GOVERNMENT AND TAX SOURCES.VISION THE HARPER COLLEGE EDUCATIONAL FOUNDATION STRIVES TO PROVIDE ALL HARPER COLLEGE STUDENTS WITH OPPORTUNITIES TO TRANSFORM THEIR LIVES AND ENRICH THE COMMUNITY THROUGH EDUCATION WITHOUT FINANCIAL BARRIERS. MISSION THE HARPER COLLEGE EDUCATIONAL FOUNDATION CONNECTS THE COLLEGE TO THE GREATER COMMUNITY, ALUMNI, BUSINESSES AND LEADERS BY INSPIRING AND ALIGNING DONOR PASSION AND GENEROSITY THROUGH PHILANTHROPIC SUPPORT FOR STUDENTS AND PROGRAM ENRICHMENTS.
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