Civic Intelligence

Sterling Schools Foundation

EIN 36-3575698 • 501(c)3 • Sterling, IL

Pub. 78 Eligible

Profile

To promote excellence by finding creative and innovative projects for the staff and students of sterling's schools. Foundation monies allow the sterling school system to initiate, continue, or expand educational projects otherwise left without adequate money to proceed because of budgetary constraints or compelling priorities. The foundation is dedicated to the identification and funding of programs and projects that will raise the level of academic achievement of all sterling public school students. Our goal is to help provide the very best education for students as they prepare for challenges of life.

510 E Miller RdSterling, IL 61081

sterlingschoolsfoundation.org

Siviq Scores

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

Liabilities / Assets

12th percentile

0.00x

Higher debt load relative to assets than 12% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

14th percentile

0.01x

Higher debt load relative to revenue than 14% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

11th percentile

-25%

Higher net margin than 11% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

16th percentile

-6.5%

Faster asset growth than 16% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

8th percentile

-34%

Faster revenue growth than 8% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Up

$7,914,542

Up $223,717 (+2.9%) from 2024

Liabilities

Flat

$0

Flat from 2024

Net Assets

Up

$7,914,542

Up $223,717 (+2.9%) from 2024

Revenue

Up

$2,997,750

Up $1,438,164 (+92%) from 2024

Expenses

Up

$2,048,357

Up $212,035 (+12%) from 2024

Net Income

Up

$949,393

Up $1,226,129 (+443%) from 2024

Trend Graphs

Balance Sheet Trend

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

$10M$5.0M$0Assets 2016: $7,262,479Liabilities 2016: $6,151Net Assets 2016: $7,256,3282016Assets 2017: $7,341,303Liabilities 2017: $204Net Assets 2017: $7,341,0992017Assets 2018: $7,393,246Liabilities 2018: $1,502Net Assets 2018: $7,391,7442018Assets 2019: $7,264,510Liabilities 2019: $4,501Net Assets 2019: $7,260,0092019Assets 2020: $6,790,270Liabilities 2020: $5,573Net Assets 2020: $6,784,6972020Assets 2021: $8,230,186Liabilities 2021: $7,469Net Assets 2021: $8,222,7172021Assets 2022: $7,391,480Liabilities 2022: $5,412Net Assets 2022: $7,386,0682022Assets 2023: $7,758,889Liabilities 2023: $0Net Assets 2023: $7,758,8892023Assets 2024: $7,690,825Liabilities 2024: $0Net Assets 2024: $7,690,8252024Assets 2025: $7,914,542Liabilities 2025: $0Net Assets 2025: $7,914,5422025

Highlighted filing

2025

Assets$7,914,542
Liabilities$0
Net Assets$7,914,542

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2016: $1,382,328Expenses 2016: $771,863Net Income 2016: $610,4652016Revenue 2017: $973,187Expenses 2017: $1,224,449Net Income 2017: -$251,2622017Revenue 2018: $883,428Expenses 2018: $1,004,814Net Income 2018: -$121,3862018Revenue 2019: $1,282,208Expenses 2019: $1,083,495Net Income 2019: $198,7132019Revenue 2020: $840,660Expenses 2020: $1,050,389Net Income 2020: -$209,7292020Revenue 2021: $1,070,939Expenses 2021: $940,915Net Income 2021: $130,0242021Revenue 2022: $1,221,484Expenses 2022: $1,089,418Net Income 2022: $132,0662022Revenue 2023: $1,072,222Expenses 2023: $943,398Net Income 2023: $128,8242023Revenue 2024: $1,559,586Expenses 2024: $1,836,322Net Income 2024: -$276,7362024Revenue 2025: $2,997,750Expenses 2025: $2,048,357Net Income 2025: $949,3932025

Highlighted filing

2025

Revenue$2,997,750
Expenses$2,048,357
Net Income$949,393

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Mar 19, 2026
Return Version
2024v5.0
Gross Receipts
$3,120,600
Mission and Program Overview

Mission

The foundation's mission is to promote excellence by finding creative and innovative projects for the staff and students of sterling's schools. Foundation monies will allow the sterling school system to initiate, continue or expand educational projects otherwise left without adequate money to proceed because of budgetary constraints or compelling priorities. The foundation is dedicated to the identification and funding of programs and projects that will raise the level of academic achievement of all sterling public school students. Our goal is to help provide the very best education for students as they prepare for challenges of life.

To assist in the development and education purposes of sterling unit 5 school district.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,526,384$6,692,006▲ $165,622
Land, Buildings, and Equipment, Net$893,197$847,719▼ $45,478
Cash and Non-Interest-Bearing Accounts$271,244$374,817▲ $103,573
Total Assets$7,690,825$7,914,542▲ $223,717
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,835,729$4,244,561▲ $408,832
Net Assets Without Donor Restrictions$3,855,096$3,669,981▼ $185,115
Total Net Assets Fund Balance$7,690,825$7,914,542▲ $223,717
Total Liabilities and Net Assets / Fund Balance$7,690,825$7,914,542▲ $223,717

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$641,059$73,825$714,884
Land$185,777-$185,777
Equipment$20,883$117,147$138,030

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$294,380-▲ $32,436$30,678$296,138
2023$298,170-▲ $27,450$31,240$294,380
2022$301,483-▲ $23,871$27,184$298,170
2021$350,711-▼ $26,728$22,500$301,483
2020$297,293-▲ $76,668$23,250$350,711
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Jim C SpencerExecutive DiPT$89,674$89,674

Board Members and Trustees

NameTitle
Scott WolberPresident
Ed AndersenDirector
Greg ZieglerDirector
Pam CapesDirector
Tad EverettDirector
Terry McguireDirector
William LeeDirector
Alice ReterSecretary
Heather SoteloTreasurer
Peter W DillonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,267,417
Program Service Revenue
$5,285
Investment Income
$1,497,611
Other Revenue
$227,437
All Other Contributions
$621,943
Change in Net Assets
$949,393

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,997,750
Revenue Not Reported on Form 990
$-602,826
Total Revenue per Audited Statements
$2,394,924
Total Revenue per Form 990
$2,997,750
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,315,682
Grants and Similar Amounts Paid$619,852
Salaries, Compensation, and Employee Benefits$112,823
Total Fundraising Expense$4,697
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$510,502--$510,502
Fees for Services Other$166,701--$166,701
Grants to Domestic Individuals$109,350--$109,350
All Other Expenses$58,630$9,379$4,697$72,706
Occupancy$60,201$8,855-$69,056
Current Officers, Directors, Trustees, and Key Employees-$66,939-$66,939
Depreciation Depletion-$45,478-$45,478
Other Salaries and Wages$26,960$7,651-$34,611
Fees for Services Accounting-$31,977-$31,977
Office Expenses$21,146$6,060-$27,206
Other Expenses$26,891$24,291-$24,291
Payroll Taxes$11,273--$11,273
Insurance$3,773$6,465-$10,238
Total Functional Expenses$1,835,646$208,014$4,697$2,048,357

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,171,207
Expenses per Audited Statements$2,048,357
Total Expenses per Form 990$2,048,357
Expenses Not Reported on Form 990$122,850
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Sterling Schools Cusd No 5Sterling, IL170c1Auditorium Operation$510,502
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$31,922
Fundraising Direct Expenses$20,951
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Block Party$30,422$30,422$3,345$27,077
Total Events$30,422$30,422$15,515$14,907
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
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

The executive director and finance committee review the form 990 before it is filed.

Form 990, Page 6, Part VI, Line 15A

When determining employee compensation and benefits, the board president shall form a hiring committee to analyze pertinent information. This information may include: comparisons to compensation packages for other local non-profit organization executive directors, education level, experience, and evidence of past performance. The hiring committee will then make a recommendation to teh full board for final approval.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents available to the public upon request during normal operating hours.

Filing and Contact Details

Filer

Filer Name
Sterling Schools Foundation
EIN
36-3575698
Phone
8156260022
Address
510 E MILLER RD, STERLING, IL 61081

Signing Officer

Name
Jim C Spencer
Title
Executive Director
Phone
8156260022
Signed
2026-03-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jim C Spencer
Formed
1989
Legal Domicile
Il
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
150

Preparer

Firm
Lucas Group Cpas Advisors LLC
Address
1617 TEMPLE LANE, ROCKFORD, IL 61112
Preparer
Ashlee Burnett
Phone
8152359610
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To promote excellence by finding creative and innovative projects for the staff and students of sterling's schools. Foundation monies allow the sterling school system to initiate, continue, or expand educational projects otherwise left without adequate money to proceed because of budgetary constraints or compelling priorities. The foundation is dedicated to the identification and funding of programs and projects that will raise the level of academic achievement of all sterling public school students. Our goal is to help provide the very best education for students as they prepare for challenges of life.

Form 990, Page 2, Part III, Line 4D

Additional programs include gw baseball club, a+ initiative, academic booster club, blue & gold program, tools & technology program, & others. These programs serve students & alumni of the sterling school system.

Form 990, Part XI, Line 9

Cost of goods sold 101,899 fundraising event expenses 20,951 cost of good sold -101,899 fundraising event expenses -20,951

Financial Statement Notes

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

Cost of goods sold 101,899 fundraising event expenses 20,951

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

Cost of good sold 101,899 fundraising event expenses 20,951

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IRS990/MissionDesc0TO PROMOTE EXCELLENCE BY FINDING CREATIVE AND INNOVATIVE PROJECTS FOR THE STAFF AND STUDENTS OF STERLING'S SCHOOLS. FOUNDATION MONIES ALLOW THE STERLING SCHOOL SYSTEM TO INITIATE, CONTINUE, OR EXPAND EDUCATIONAL PROJECTS OTHERWISE LEFT WITHOUT ADEQUATE MONEY TO PROCEED BECAUSE OF BUDGETARY CONSTRAINTS OR COMPELLING PRIORITIES. THE FOUNDATION IS DEDICATED TO THE IDENTIFICATION AND FUNDING OF PROGRAMS AND PROJECTS THAT WILL RAISE THE LEVEL OF ACADEMIC ACHIEVEMENT OF ALL STERLING PUBLIC SCHOOL STUDENTS. OUR GOAL IS TO HELP PROVIDE THE VERY BEST EDUCATION FOR STUDENTS AS THEY PREPARE FOR CHALLENGES OF LIFE.
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IRS990/OtherExpensesGrp/Desc1EQUIPMENT & CAPITAL IMPRO
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IRS990/ProgSrvcAccomActy2Grp/Desc0SHS ATHELETIC BOOSTER CLUB PROVIDES AS NEEDED FINANCIAL ASSISTANCE TO STERLING HIGH SCHOOL ATHLETIC PROGRAMS AND ATHLETES. SERVED 453 STUDENTS.
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IRS990/ProgSrvcAccomActy3Grp/Desc0GOLDEN WARRIOR TV PROGRAM PROVIDES LIVE VIDEO COVERAGE OF STERLING PUBLIC SCHOOLS SPORTING EVENTS, CONCERTS, CEREMONIES, ETC. REVENUE IS GENERATED FROM SUBSCRIPTION AND ADVERTISING SALES. NUMBER SERVED 1,000.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0ADDITIONAL PROGRAMS INCLUDE GW BASEBALL CLUB, A+ INITIATIVE, ACADEMIC BOOSTER CLUB, BLUE & GOLD PROGRAM, TOOLS & TECHNOLOGY PROGRAM, & OTHERS. THESE PROGRAMS SERVE STUDENTS & ALUMNI OF THE STERLING SCHOOL SYSTEM.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME 308,628
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0COST OF GOODS SOLD 101,899 FUNDRAISING EVENT EXPENSES 20,951
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1COST OF GOOD SOLD 101,899 FUNDRAISING EVENT EXPENSES 20,951
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
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