Civic Intelligence

Freeport Community Foundation

990 • Fiscal year 2019 • EIN 30-0080762

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 10, 2020

524 W Stephenson St Suite 102Freeport, IL 61032

(815) 801-3035

Siviq Scores

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

Liabilities / Assets

29th percentile

0.04x

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

78th percentile

0.73x

Higher debt load relative to revenue than 78% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

11th percentile

-24%

Higher net margin than 11% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

74th percentile

13%

Faster asset growth than 74% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

3rd percentile

-63%

Faster revenue growth than 3% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Up

$5,379,092

Up $629,643 (+13%) from 2018

Net Assets

Up

$5,180,621

Up $595,307 (+13%) from 2018

Liabilities

Up

$198,471

Up $34,336 (+21%) from 2018

Revenue

Down

$272,224

Down $463,486 (-63%) from 2018

Expenses

Up

$338,676

Up $26,745 (+8.6%) from 2018

Net Income

Down

-$66,452

Down $490,231 (-116%) from 2018

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $3,516,447Liabilities 2010: $9,006Net Assets 2010: $3,507,4412010Assets 2011: $3,304,872Liabilities 2011: $12,080Net Assets 2011: $3,292,7922011Assets 2012: $3,594,238Liabilities 2012: $39,448Net Assets 2012: $3,554,7902012Assets 2013: $4,079,042Liabilities 2013: $64,225Net Assets 2013: $4,014,8172013Assets 2014: $4,093,854Liabilities 2014: $82,267Net Assets 2014: $4,011,5872014Assets 2015: $3,865,003Liabilities 2015: $99,202Net Assets 2015: $3,765,8012015Assets 2016: $4,404,212Liabilities 2016: $125,486Net Assets 2016: $4,278,7262016Assets 2017: $4,943,816Liabilities 2017: $132,487Net Assets 2017: $4,811,3292017Assets 2018: $4,749,449Liabilities 2018: $164,135Net Assets 2018: $4,585,3142018Assets 2019: $5,379,092Liabilities 2019: $198,471Net Assets 2019: $5,180,6212019Assets 2020: $5,604,486Liabilities 2020: $222,112Net Assets 2020: $5,382,3742020Assets 2021: $6,123,484Liabilities 2021: $228,375Net Assets 2021: $5,895,1092021Assets 2022: $5,131,242Liabilities 2022: $205,943Net Assets 2022: $4,925,2992022Assets 2023: $5,520,488Liabilities 2023: $237,473Net Assets 2023: $5,283,0152023Assets 2024: $5,790,135Liabilities 2024: $53,489Net Assets 2024: $5,736,6462024

Highlighted filing

2019

Assets$5,379,092
Liabilities$198,471
Net Assets$5,180,621

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $135,8242010Expenses 2011: $183,5362011Expenses 2012: $187,5692012Revenue 2013: $404,915Expenses 2013: $205,844Net Income 2013: $199,0712013Revenue 2014: $199,986Expenses 2014: $188,965Net Income 2014: $11,0212014Revenue 2015: $128,174Expenses 2015: $181,937Net Income 2015: -$53,7632015Revenue 2016: $464,533Expenses 2016: $191,755Net Income 2016: $272,7782016Revenue 2017: $510,128Expenses 2017: $247,719Net Income 2017: $262,4092017Revenue 2018: $735,710Expenses 2018: $311,931Net Income 2018: $423,7792018Revenue 2019: $272,224Expenses 2019: $338,676Net Income 2019: -$66,4522019Revenue 2020: $649,371Expenses 2020: $617,534Net Income 2020: $31,8372020Revenue 2021: $1,390,452Expenses 2021: $376,257Net Income 2021: $1,014,1952021Revenue 2022: $297,028Expenses 2022: $437,486Net Income 2022: -$140,4582022Revenue 2023: $349,055Expenses 2023: $492,147Net Income 2023: -$143,0922023Revenue 2024: $591,681Expenses 2024: $467,244Net Income 2024: $124,4372024

Highlighted filing

2019

Revenue$272,224
Expenses$338,676
Net Income-$66,452
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 10, 2020
Return Version
2019v5.0
Gross Receipts
$742,723
Mission and Program Overview

Mission

To help provide for the well-being of the citizens of northwest illinois by accumulating assets in the form of permanent endowment funds & prudently distributing income from those funds to charitable organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,731,746$5,363,047▲ $631,301
Cash and Non-Interest-Bearing Accounts$13,670$14,212▲ $542
Prepaid Expenses and Deferred Charges$4,033$1,833▼ $2,200
Total Assets$4,749,449$5,379,092▲ $629,643
Liabilities
Escrow Account Liability$123,042$141,979▲ $18,937
Other Liabilities$41,093$56,492▲ $15,399
Total Liabilities$164,135$198,471▲ $34,336
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,244,114$4,773,854▲ $529,740
Net Assets With Donor Restrictions$341,200$406,767▲ $65,567
Total Net Assets Fund Balance$4,585,314$5,180,621▲ $595,307
Total Liabilities and Net Assets / Fund Balance$4,749,449$5,379,092▲ $629,643

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements-$5,338$5,338
Equipment-$3,294$3,294
Other Land Buildings-$624$624

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$149,465$230,113▼ $28,425-$341,200
2017$98,601$42,421▲ $13,243-$149,465
2016$58,840$16,370▲ $5,900-$98,601
2015$58,661$4,805▼ $2,926-$58,840
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$100,586
Program Service Revenue
$0
Investment Income
$171,638
Other Revenue
$0
All Other Contributions
$97,670
Change in Net Assets
$-66,452

Audited Revenue Reconciliation

Revenue per Audited Statements
$272,224
Revenue Not Reported on Form 990
$685,458
Total Revenue per Audited Statements
$957,682
Total Revenue per Form 990
$272,224
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$188,818
Other Expenses$77,011
Salaries, Compensation, and Employee Benefits$72,847
Total Fundraising Expense$477
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$188,818--$188,818
Other Salaries and Wages-$68,113-$68,113
Fees for Service Investment Mgmnt Fees-$25,728-$25,728
Fees for Services Accounting-$11,095-$11,095
Fees for Services Legal-$5,989-$5,989
Payroll Taxes-$4,734-$4,734
Office Expenses-$4,114$477$4,591
Travel-$3,429-$3,429
Occupancy-$2,400-$2,400
Insurance-$2,014-$2,014
Other Expenses-$263-$263
Total Functional Expenses$188,818$149,381$477$338,676

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$362,375
Expenses per Audited Statements$338,676
Total Expenses per Form 990$338,676
Expenses Not Reported on Form 990$23,699
International Activity
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
Annuity Payable$56,492
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 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, Page 6, Part VI, Line 11B

Form 990 was presented to the board of directors during a regularly scheduled meeting. Directors reviewed form 990 and approved a motion to accept the form 990 as presented.

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

Each board member signs a conflict of interest statement (they are also given a copy of it) indicating any potential conflicts. All committee members sign a conflict of interest statement as well. The executive director reviews the statements prior to the grant award cycle and scholarship approval process. During the grant award cycles and the scholarship approval process, the executive director ask members to recuse themselves from voting if they have a conflict.

Form 990, Page 6, Part VI, Line 19

The foundation follows the rules and regulations of the irs regarding public availability of form 990 as well as any other required documents. The form 990 is available upon request either by downloading from the foundation's website or having it mailed or examining it in the foundation's office. The foundation also has available upon request financial information such as performance history, list of investment managers, audit fees, and the body responsible for investment and oversight.

Filing and Contact Details

Filer

Filer Name
Freeport Community Foundation
EIN
30-0080762
Address
524 W STEPHENSON ST SUITE 102, FREEPORT, IL 61032

Signing Officer

Name
Michelle Dehaven
Title
Executive Director
Phone
8158013035
Signed
2020-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michelle Dehaven
Formed
2002
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
11
Employees
4

Preparer

Firm
Benning Group LLC
Address
50 W DOUGLAS ST STE 801, FREEPORT, IL 61032-4141
Preparer
Jenny L Blocker
Phone
8152353157
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Change in value of annuity -23,699

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 1B

The foundation acts as an agent for 4 funds in which distributions benefit the donor organization. These funds are recorded as liabilities. All contributions received, investment income and fees, realized and unrealized gains are losses are netted together and reported as additions to the liability account. Distributions are recorded as reductions of the liability.

Schedule D, Page 2, Part IV, Line 2B

The foundation acts as an agent for 4 funds in which distributions benefit the donor organization. These funds are recorded as liabilities. All contributions recieved, investment income and fees, realized and unrealized gains are losses are netted together and reported as additions to the liability account. Distributions are recorded as reductions of the liability.

Schedule D, Page 2, Part V, Line 4

The endowment funds are to provide grants and/or scholarships from the earnings on the endowment funds.

Schedule D, Page 4, Part XII, Line 2D

Change in value of annuity 23,699

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ANNUITY PAYABLE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION ACTS AS AN AGENT FOR 4 FUNDS IN WHICH DISTRIBUTIONS BENEFIT THE DONOR ORGANIZATION. THESE FUNDS ARE RECORDED AS LIABILITIES. ALL CONTRIBUTIONS RECEIVED, INVESTMENT INCOME AND FEES, REALIZED AND UNREALIZED GAINS ARE LOSSES ARE NETTED TOGETHER AND REPORTED AS ADDITIONS TO THE LIABILITY ACCOUNT. DISTRIBUTIONS ARE RECORDED AS REDUCTIONS OF THE LIABILITY.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION ACTS AS AN AGENT FOR 4 FUNDS IN WHICH DISTRIBUTIONS BENEFIT THE DONOR ORGANIZATION. THESE FUNDS ARE RECORDED AS LIABILITIES. ALL CONTRIBUTIONS RECIEVED, INVESTMENT INCOME AND FEES, REALIZED AND UNREALIZED GAINS ARE LOSSES ARE NETTED TOGETHER AND REPORTED AS ADDITIONS TO THE LIABILITY ACCOUNT. DISTRIBUTIONS ARE RECORDED AS REDUCTIONS OF THE LIABILITY.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2THE ENDOWMENT FUNDS ARE TO PROVIDE GRANTS AND/OR SCHOLARSHIPS FROM THE EARNINGS ON THE ENDOWMENT FUNDS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3CHANGE IN VALUE OF ANNUITY 23,699
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 1B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0BOYS & GIRLS CLUB OF FREEPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1FHN FAMILY COUNSELING CENTER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2FREEPORT AREA CHURCH COOPERATIVE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3FREEPORT ART MUSEUM
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4FREEPORT DREAM CENTER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5GREATER FREEPORT PARTNERSHIP
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6JO DAVIESS CONSERVATION FDN
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7NORTHERN ILLINOIS FOOD BANK
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8NORTHWEST IL F-4 JET MEMORIAL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt9THE SALVATION ARMY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt10TIMBER LAKE PLAYHOUSE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt11VOICES OF STEPHENSON COUNTY
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 WAS PRESENTED TO THE BOARD OF DIRECTORS DURING A REGULARLY SCHEDULED MEETING. DIRECTORS REVIEWED FORM 990 AND APPROVED A MOTION TO ACCEPT THE FORM 990 AS PRESENTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH BOARD MEMBER SIGNS A CONFLICT OF INTEREST STATEMENT (THEY ARE ALSO GIVEN A COPY OF IT) INDICATING ANY POTENTIAL CONFLICTS. ALL COMMITTEE MEMBERS SIGN A CONFLICT OF INTEREST STATEMENT AS WELL. THE EXECUTIVE DIRECTOR REVIEWS THE STATEMENTS PRIOR TO THE GRANT AWARD CYCLE AND SCHOLARSHIP APPROVAL PROCESS. DURING THE GRANT AWARD CYCLES AND THE SCHOLARSHIP APPROVAL PROCESS, THE EXECUTIVE DIRECTOR ASK MEMBERS TO RECUSE THEMSELVES FROM VOTING IF THEY HAVE A CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FOUNDATION FOLLOWS THE RULES AND REGULATIONS OF THE IRS REGARDING PUBLIC AVAILABILITY OF FORM 990 AS WELL AS ANY OTHER REQUIRED DOCUMENTS. THE FORM 990 IS AVAILABLE UPON REQUEST EITHER BY DOWNLOADING FROM THE FOUNDATION'S WEBSITE OR HAVING IT MAILED OR EXAMINING IT IN THE FOUNDATION'S OFFICE. THE FOUNDATION ALSO HAS AVAILABLE UPON REQUEST FINANCIAL INFORMATION SUCH AS PERFORMANCE HISTORY, LIST OF INVESTMENT MANAGERS, AUDIT FEES, AND THE BODY RESPONSIBLE FOR INVESTMENT AND OVERSIGHT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CHANGE IN VALUE OF ANNUITY -23,699
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.79$0.05$5.74$0.59$0.47$0.12
2023Detailed filing. Detailed filing data is available for this year.$5.52$0.24$5.28$0.35$0.49$0.14
2022Detailed filing. Detailed filing data is available for this year.$5.13$0.21$4.93$0.30$0.44$0.14
2021Detailed filing. Detailed filing data is available for this year.$6.12$0.23$5.90$1.39$0.38$1.01
2020Detailed filing. Detailed filing data is available for this year.$5.60$0.22$5.38$0.65$0.62$0.03
2019Detailed filing. Detailed filing data is available for this year.$5.38$0.20$5.18$0.27$0.34$0.07
2018Detailed filing. Detailed filing data is available for this year.$4.75$0.16$4.59$0.74$0.31$0.42
2017Detailed filing. Detailed filing data is available for this year.$4.94$0.13$4.81$0.51$0.25$0.26
2016Detailed filing. Detailed filing data is available for this year.$4.40$0.13$4.28$0.46$0.19$0.27
2015Detailed filing. Detailed filing data is available for this year.$3.87$0.10$3.77$0.13$0.18$0.05
2014Detailed filing. Detailed filing data is available for this year.$4.09$0.08$4.01$0.20$0.19$0.01
2013Detailed filing. Detailed filing data is available for this year.$4.08$0.06$4.01$0.40$0.21$0.20
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.59$0.04$3.55$0.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.30$0.01$3.29$0.18
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.52$0.01$3.51$0.14