Civic Intelligence

Kankakee Community College Foundation

990 • Fiscal year 2018 • EIN 26-2126437

Jul 01, 2017 to Jun 30, 2018 • Filed on Sep 26, 2018

Organization ProfileWWW.KCC.EDU/FOUNDATION
100 College DriveKankakee, IL 60901

(815) 802-8100

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

20th percentile

0.01x

Higher debt load relative to assets than 20% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

43rd percentile

0.12x

Higher debt load relative to revenue than 43% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

91st percentile

53%

Higher net margin than 91% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

73rd percentile

10%

Faster asset growth than 73% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

64th percentile

10%

Faster revenue growth than 64% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets20th percentile

Assets

Up

$7,530,447

Up $685,172 (+10%) from 2017

Net Assets

Up

$7,419,293

Up $701,645 (+10%) from 2017

Liabilities

Down

$111,154

Down $16,473 (-13%) from 2017

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin91st percentile

Revenue

Up

$909,374

Up $82,887 (+10%) from 2017

Expenses

Down

$430,995

Down $256,833 (-37%) from 2017

Net Income

Up

$478,379

Up $339,720 (+245%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth73rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2017: $6,845,275Liabilities 2017: $127,627Net Assets 2017: $6,717,6482017Assets 2018: $7,530,447Liabilities 2018: $111,154Net Assets 2018: $7,419,2932018Assets 2019: $9,159,024Liabilities 2019: $75,707Net Assets 2019: $9,083,3172019Assets 2020: $8,593,324Liabilities 2020: $55,930Net Assets 2020: $8,537,3942020Assets 2021: $10,799,723Liabilities 2021: $285,111Net Assets 2021: $10,514,6122021Assets 2022: $9,818,993Liabilities 2022: $291,637Net Assets 2022: $9,527,3562022Assets 2023: $10,080,573Liabilities 2023: $193,928Net Assets 2023: $9,886,6452023Assets 2024: $11,188,829Liabilities 2024: $142,420Net Assets 2024: $11,046,4092024Assets 2025: $12,029,695Liabilities 2025: $44,666Net Assets 2025: $11,985,0292025

Highlighted filing

2018

Assets$7,530,447
Liabilities$111,154
Net Assets$7,419,293
Open 2018 Filing

Operations Trend

Revenue Growth64th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $826,487Expenses 2017: $687,828Net Income 2017: $138,6592017Revenue 2018: $909,374Expenses 2018: $430,995Net Income 2018: $478,3792018Revenue 2019: $2,341,256Expenses 2019: $391,319Net Income 2019: $1,949,9372019Revenue 2020: $1,990,524Expenses 2020: $1,936,964Net Income 2020: $53,5602020Revenue 2021: $939,729Expenses 2021: $599,070Net Income 2021: $340,6592021Revenue 2022: $864,240Expenses 2022: $264,055Net Income 2022: $600,1852022Revenue 2023: $576,926Expenses 2023: $892,989Net Income 2023: -$316,0632023Revenue 2024: $1,636,785Expenses 2024: $777,203Net Income 2024: $859,5822024Revenue 2025: $957,750Expenses 2025: $582,641Net Income 2025: $375,1092025

Highlighted filing

2018

Revenue$909,374
Expenses$430,995
Net Income$478,379
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Sep 26, 2018
Return Version
2017v2.3
Gross Receipts
$2,210,122
Mission and Program Overview

Mission

Scholarships and financial assistance to promote educational opportunities at kankakee community college

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,039,612$4,191,716▲ $152,104
Investments Other Securities$1,903,829$2,325,249▲ $421,420
Savings and Temporary Cash Investments$871,205$992,355▲ $121,150
Pledges and Grants Receivable$12,719$16,703▲ $3,984
Prepaid Expenses and Deferred Charges$2,288$225▼ $2,063
Total Assets$6,845,275$7,530,447▲ $685,172
Other Assets Total$15,622$4,199▼ $11,423
Liabilities
Other Liabilities$122,148$96,920▼ $25,228
Accounts Payable and Accrued Expenses$5,479$14,234▲ $8,755
Total Liabilities$127,627$111,154▼ $16,473
Net Assets / Fund Balance
Permanently Rstr Net Assets$3,600,515$3,813,952▲ $213,437
Temporarily Rstr Net Assets$2,840,723$3,300,332▲ $459,609
Unrestricted Net Assets$276,410$305,009▲ $28,599
Total Net Assets Fund Balance$6,717,648$7,419,293▲ $701,645
Total Liabilities and Net Assets / Fund Balance$6,845,275$7,530,447▲ $685,172

Asset Categories

AssetBook ValueDepreciationBasis
Financial Derivatives$2,325,249--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$6,441,238$509,560▲ $428,493$265,008$7,114,283
2016$6,179,338$220,136▲ $483,967$442,203$6,441,238
2015$6,408,634$301,850▼ $177,784$353,362$6,179,338
2014$6,263,901$261,929▲ $97,114$214,310$6,408,634
2013$5,118,549$874,933▲ $586,310$315,891$6,263,901
Compensation and Service Providers
Top Officer Pay20th percentile

Board Members and Trustees

NameTitle
Steve SmithChairman
Maggie FroggeVice-chairwo
Barb DeckerDirector
Brad HoveDirector
David JaffeDirector
Dennis HessDirector
Donald WagnerDirector
Jeff BennettDirector
Jeff HammesDirector
Jimmy JoinesDirector
Joda CrabtreeDirector
John FultonDirector
Maureen PowellDirector
Michael KickDirector
Michael LynchDirector
Patt ViltDirector
Rod BurkettDirector
Scott FrancoDirector
Mark SmithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$558,672
Program Service Revenue
$0
Investment Income
$350,246
Other Revenue
$456
All Other Contributions
$558,672
Change in Net Assets
$478,379

Audited Revenue Reconciliation

Revenue per Audited Statements
$848,834
Revenue Not Reported on Financial Statements
$60,540
Revenue Not Reported on Form 990
$354,885
Total Revenue per Audited Statements
$1,203,719
Total Revenue per Form 990
$909,374
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$311,612
Other Expenses$119,383
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$170,204--$170,204
Grants to Domestic Individuals$141,408--$141,408
Fees for Service Investment Mgmnt Fees$60,540--$60,540
Office Expenses-$18,494-$18,494
Fees for Services Accounting-$6,915-$6,915
Insurance-$2,320-$2,320
Other Expenses$692--$692
Total Functional Expenses$403,266$27,729$0$430,995

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$502,074
Total Expenses per Form 990$430,995
Expenses per Audited Statements$370,455
Expenses Not Reported on Form 990$131,619
Expenses Not Reported on Financial Statements$60,540
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Kankakee Community CollegeKankakee, IL-Program & Campus Imp$170,204
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Kcc$96,920
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed by the foundation's executive director and the finance department of kankakee community college before submission to the officers of the foundation. The officers then review and sign the return.”

Form 990, Page 6, Part VI, Line 12C

“Board members are requested to complete a conflict of interest statement annually.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon request at the offices of kankakee community college district 520.”

Filing and Contact Details

Filer

Filer Name
Kankakee Comm Coll Foundation Inc
EIN
26-2126437
Phone
8158028100
Address
100 COLLEGE DRIVE, KANKAKEE, IL 60901

Signing Officer

Name
Maggie Frogge
Title
Vice-chairwoman
Phone
8158028100
Signed
2018-09-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Smith
Formed
2008
Legal Domicile
Il
Voting Board Members
20
Independent Board Members
20
Employees
0
Volunteers
14

Preparer

Firm
Groskreutz Abraham Eshleman Gerretse LLC
Address
1949 W COURT ST, KANKAKEE, IL 60901
Preparer
Dale L Gerretse
Phone
8159337781
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Topic 740 of the financial accounting standards board ("fasb") accounting standards codification (asc 740) provides guidance for accounting for uncertainty in income taxes. Asc 740 requires that an entity recognize in the financial statements the impact of the tax position if that position will more likely than not be sustained on audit based on the technical merits of the position. During the year ended june 30, 2018, the foundation performed an evaluation of uncertain tax positions and did not note any matters that would require recognition in the statement of activities or that may have an effect on its tax-exempt status.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TOPIC 740 OF THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ACCOUNTING STANDARDS CODIFICATION (ASC 740) PROVIDES GUIDANCE FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. ASC 740 REQUIRES THAT AN ENTITY RECOGNIZE IN THE FINANCIAL STATEMENTS THE IMPACT OF THE TAX POSITION IF THAT POSITION WILL MORE LIKELY THAN NOT BE SUSTAINED ON AUDIT BASED ON THE TECHNICAL MERITS OF THE POSITION. DURING THE YEAR ENDED JUNE 30, 2018, THE FOUNDATION PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS AND DID NOT NOTE ANY MATTERS THAT WOULD REQUIRE RECOGNITION IN THE STATEMENT OF ACTIVITIES OR THAT MAY HAVE AN EFFECT ON ITS TAX-EXEMPT STATUS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,530,447
Liabilities
$111,154
Net assets
$7,419,293
Revenue
$909,374
Expenses
$430,995
Net income
$478,379
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.0$0.04$12.0$0.96$0.58$0.38
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.2$0.14$11.0$1.64$0.78$0.86
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.1$0.19$9.89$0.58$0.89$0.32
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.82$0.29$9.53$0.86$0.26$0.60
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$0.29$10.5$0.94$0.60$0.34
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.59$0.06$8.54$1.99$1.94$0.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.16$0.08$9.08$2.34$0.39$1.95
2018Detailed filing. Detailed filing data is available for this year.$7.53$0.11$7.42$0.91$0.43$0.48
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.85$0.13$6.72$0.83$0.69$0.14