Civic Intelligence

Kankakee Community College Foundation

990 • Fiscal year 2022 • EIN 26-2126437

Jul 01, 2021 to Jun 30, 2022 • Filed on Dec 05, 2022

Organization ProfileFOUNDATION.KCC.EDU
100 College DrKankakee, IL 60901

(815) 802-8100

Siviq Scores

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

Liabilities / Assets

29th percentile

0.03x

Higher debt load relative to assets than 29% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

67th percentile

0.34x

Higher debt load relative to revenue than 67% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

94th percentile

69%

Higher net margin than 94% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

21st percentile

-9.1%

Faster asset growth than 21% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

29th percentile

-8.0%

Faster revenue growth than 29% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets29th percentile

Assets

Down

$9,818,993

Down $980,730 (-9.1%) from 2021

Net Assets

Down

$9,527,356

Down $987,256 (-9.4%) from 2021

Liabilities

Up

$291,637

Up $6,526 (+2.3%) from 2021

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin94th percentile

Revenue

Down

$864,240

Down $75,489 (-8.0%) from 2021

Expenses

Down

$264,055

Down $335,015 (-56%) from 2021

Net Income

Up

$600,185

Up $259,526 (+76%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth21st 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

2022

Assets$9,818,993
Liabilities$291,637
Net Assets$9,527,356
Open 2022 Filing

Operations Trend

Revenue Growth29th 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

2022

Revenue$864,240
Expenses$264,055
Net Income$600,185
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Dec 5, 2022
Return Version
2021v4.2
Gross Receipts
$1,003,543
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$9,509,473$8,425,857▼ $1,083,616
Savings and Temporary Cash Investments$669,814$800,669▲ $130,855
Investments Other Securities$380,376$396,707▲ $16,331
Pledges and Grants Receivable$236,162$192,970▼ $43,192
Prepaid Expenses and Deferred Charges$1,707$1,707→ $0
Total Assets$10,799,723$9,818,993▼ $980,730
Other Assets Total$2,191$1,083▼ $1,108
Liabilities
Other Liabilities$278,512$290,861▲ $12,349
Accounts Payable and Accrued Expenses$6,599$776▼ $5,823
Total Liabilities$285,111$291,637▲ $6,526
Net Assets / Fund Balance
Net Assets With Donor Restrictions$9,097,788$7,642,260▼ $1,455,528
Net Assets Without Donor Restrictions$1,416,824$1,885,096▲ $468,272
Total Net Assets Fund Balance$10,514,612$9,527,356▼ $987,256
Total Liabilities and Net Assets / Fund Balance$10,799,723$9,818,993▼ $980,730

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$9,097,788$251,532▼ $1,168,190$538,870$7,642,260
2020$7,152,102$674,376▲ $1,781,675$510,365$9,097,788
2019$8,599,719$386,845▼ $275,749$1,558,713$7,152,102
2018$7,114,283$1,634,111▲ $58,015$206,690$8,599,719
2017$6,441,238$509,560▲ $428,493$265,008$7,114,283
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Steve SmithChairman
Dr Michael BoydPresident of College
Maggie FroggeVice Chairwoman
Brad HoveCollege Board Liason
Andrew WheelerDirector
Colette GernonDirector
David BaronDirector
Dr Kay GreenDirector
Jeff HammesDirector
Jimmy JoinesDirector
John KeigherDirector
Lisa DuganDirector
Maureen PowellDirector
Michael MaloneyDirector
Patt ViltDirector
Robert De OliveiraDirector
Rod BurkettDirector
Walter Hasselbring IiiDirector
Michael LynchSecretary
Mark SmithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$328,175
Program Service Revenue
$0
Investment Income
$536,065
Other Revenue
$0
All Other Contributions
$328,175
Change in Net Assets
$600,185

Audited Revenue Reconciliation

Revenue per Audited Statements
$864,240
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-1,429,620
Total Revenue per Audited Statements
$-565,380
Total Revenue per Form 990
$864,240
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$214,190
Other Expenses$49,865
Total Fundraising Expense$7,399
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$191,974--$191,974
Grants to Domestic Orgs$22,216--$22,216
Fees for Services Accounting-$7,515-$7,515
All Other Expenses--$7,399$7,399
Other Expenses-$4,224-$4,224
Office Expenses-$2,262-$2,262
Insurance-$1,739-$1,739
Total Functional Expenses$214,190$42,466$7,399$264,055

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$421,876
Expenses per Audited Statements$264,055
Total Expenses per Form 990$264,055
Expenses Not Reported on Form 990$157,821
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Special ProjectsKankakee, IL-Program & Camp Imp$22,216
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$290,861
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Organization's process to review form 990 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, Part VI, Section B, Line 12C

“Enforcement of conflicts policy board members are requested to complete a conflict of interest statement”

Form 990, Part VI, Section C, Line 19

“Governing documents disclosure explanation 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 DR, KANKAKEE, IL 60901

Signing Officer

Name
Maggie Frogge
Title
Vice Chairwoman
Phone
8158028100
Signed
2022-12-05
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
39

Preparer

Firm
Wipfli Llp
Address
403 EAST THIRD STREET, STERLING, IL 61081
Preparer
Michelle L Heller
Phone
8156261277
Supplemental Narrative

Financial Statement Notes

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. The foundation files forms 990 (return of organization exempt from inocme tax) annually. When these returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would ultimately be sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, managmenet believes that it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions are not offset or aggregated with other positions. Tax positions that meet the "more likely than not" recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely to be realized on settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying statements of financial position along wiht any associated interest and penalties that would be payable to the taxing authorities upon examination. Forms 990 filed by the foundation are subject to examination by the internal revenue service (irs) for up to three years from the extended due date of each return. Forms 990 filed by the foundation are no longer subject to examination for tax years before june 30, 2017.”

Raw XML AppendixShowing 400 of 560 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/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1COLLEGE BOARD LIASON
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4PRESIDENT OF COLLEGE
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt17997
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0800669
IRS990ScheduleA/CollegeOrganizationInd0X
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,818,993
Liabilities
$291,637
Net assets
$9,527,356
Revenue
$864,240
Expenses
$264,055
Net income
$600,185
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
2022Detailed filing. Detailed filing data is available for this year.$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
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$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