Civic Intelligence

Sterling Schools Foundation

990 • Fiscal year 2016 • EIN 36-3575698

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 16, 2017

Organization Profilesterlingschoolsfound.org
PO Box 1046Sterling, IL 61081

(815) 626-0022

Siviq Scores

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

Liabilities / Assets

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

9th percentile

0.00x

Higher debt load relative to revenue than 9% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

90th percentile

44%

Higher net margin than 90% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

22nd percentile

$32,066

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Balance Sheet
Liabilities / Assets9th percentile

Assets

$7,262,479

No earlier filing loaded for comparison.

Net Assets

$7,256,328

No earlier filing loaded for comparison.

Liabilities

$6,151

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue9th percentileNet Margin90th percentile

Revenue

$1,382,328

No earlier filing loaded for comparison.

Expenses

$771,863

No earlier filing loaded for comparison.

Net Income

$610,465

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$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

2016

Assets$7,262,479
Liabilities$6,151
Net Assets$7,256,328
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this 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

2016

Revenue$1,382,328
Expenses$771,863
Net Income$610,465
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 16, 2017
Return Version
2015v3.0
Gross Receipts
$1,452,119
Mission and Program Overview

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.

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,283,866$6,534,952▲ $1,251,086
Savings and Temporary Cash Investments$1,405,447$727,477▼ $677,970
Cash and Non-Interest-Bearing Accounts$50$50→ $0
Total Assets$6,689,363$7,262,479▲ $573,116
Liabilities
Accounts Payable and Accrued Expenses$50$6,151▲ $6,101
Total Liabilities$50$6,151▲ $6,101
Net Assets / Fund Balance
Unrestricted Net Assets$3,011,696$3,729,016▲ $717,320
Temporarily Rstr Net Assets$3,400,701$3,327,312▼ $73,389
Permanently Rstr Net Assets$276,916$200,000▼ $76,916
Total Net Assets Fund Balance$6,689,313$7,256,328▲ $567,015
Total Liabilities and Net Assets / Fund Balance$6,689,363$7,262,479▲ $573,116

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$295,275-▲ $7,380$11,750$290,905
2014$3,909,114$3,659,281▲ $97,629$976,711$6,689,313
2013$3,728,569$704,020▲ $491,306$1,014,781$3,909,114
2012$3,822,069$653,908▲ $355,186$1,515,373$3,315,790
2011$3,302,297$689,170▲ $423,821$593,219$3,822,069
Compensation and Service Providers
Top Officer Pay22nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jim SpencerExecutive DirectorPT$32,066$32,066

Board Members and Trustees

NameTitle
Scott WolberPresident
Peter W DillonVice President
Ed AndersenDiRECTOR
GlorIA GRANTDirector
Jeff GeeDirector
Jim BrotheridgedIRECTOR
Julie YemmdIRECTOR
Kristie GeilDirector
MarILYN HENRYDirector
Russ SpitzerdIRECTOR
Tad EverettdirECTOR
Paul OsbornSecretary
Heather SoteloTreasuer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,089,633
Program Service Revenue
$7,615
Investment Income
$221,606
Other Revenue
$63,474
All Other Contributions
$1,082,608
Change in Net Assets
$610,465

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,382,328
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-14,741
Total Revenue per Audited Statements
$1,367,587
Total Revenue per Form 990
$1,382,328
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$693,645
Salaries, Compensation, and Employee Benefits$53,640
Other Expenses$24,578
Total Fundraising Expense$1,682
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$667,395--$667,395
Current Officers, Directors, Trustees, and Key Employees-$31,261-$31,261
Grants to Domestic Individuals$26,250--$26,250
Other Salaries and Wages-$14,878-$14,878
Fees for Services Accounting-$8,900-$8,900
Payroll Taxes-$7,501-$7,501
Advertising-$5,922-$5,922
Insurance-$1,502-$1,502
Other Expenses-$1,295$1,682$1,295
Information Technology-$283-$283
Total Functional Expenses$693,645$76,536$1,682$771,863

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$800,572
Expenses per Audited Statements$771,863
Total Expenses per Form 990$771,863
Expenses Not Reported on Form 990$28,709
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Sterling Schools Cusd No 5Sterling, IL170(c)1TO ASSIST IN THE DEVELOPMENT AND EDUCATION PURPOSES OF STERLING UNIT #5 SCHOOL DISTRICT.$396,301
Sterling Schools Cusd No 5Sterling, IL170(c)11-to-1 Computer Project Provides Funding for the School District to Purchase$138,203
Sterling Schools Cusd No 5Sterling, IL170(c)1To support the operations of the centennial auditorium located on the sterling high school campus.$132,891
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$40,970
Fundraising Direct Expenses$8,394
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
PE Shirt Sales$23,184$23,184-$23,184
Corn Boil$14,661$7,636$6,469$1,167
Total Events$47,995$40,970$10,380$30,590
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
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
Yes
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, Part VI, Section B, line 11

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

Form 990, Part VI, Section B, line 15

“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 nonprofit organization executive directors, education level, experience, and evidence of past performance. The hiring committee will then make a recommendation to the full board for final approval.”

Form 990, Part VI, Section C, 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
PO BOX 1046, STERLING, IL 61081

Signing Officer

Name
Scott Wolber
Title
President
Phone
8156260022
Signed
2017-01-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Wolber
Formed
1989
Legal Domicile
Il
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
50

Preparer

Firm
Wipfli LLP
Address
403 East Third Street, Sterling, IL 61081
Preparer
Richard Wells
Phone
8156261277
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 2C

“The process has not changed since prior year.”

Financial Statement Notes

Part V, Line 4:

“The purpose of the endowment fund is to use the earnings to provide a scholarship to a sterling high school graduate(s) who is pursuing a degree in education.”

Part X, Line 2:

“As stated in footnote (A), the Foundation is organized as a non-profit corporation under Section 501(c)(3) of the Internal Revenue Code. The Foundation pays no income tax on its related function income as long as it stays within the guidelines of Section 501(c)(3). The Foundation is subject to income tax on its non-related function income. For the year ending June 30, 2015, the Foundation did not have any non-related function income. Accordingly, the Foundation had no taxable income for the year. Accounting principles generally accepted in the United States of America provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in an enterprises financial statements. Generally accepted accounting principles require an entity to recognize the financial statement impact of a tax position when it is more likely than not that the position will be sustained upon examination.”

Part XI, Line 2D - Other Adjustments:

“RECLASS OF DIRECT FUNDRAISING EXPenses 8,394. RECLASS OF CONCESSION EXPENSES 11,650.”

Part XII, Line 2D - Other Adjustments:

“RECLASS DIRECT FUNDRAISING EXPenses 8,394. RECLASS CONCESSION EXPENSES 11,650.”

PART XII & PART XIII, LINE 2D- OTHER ADJUSTMENTS:

“Expenses reclassified for 990 against income”

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IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0IL
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt049747
IRS990/LessRentalExpensesGrp/RealAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt06689313
IRS990/NetAssetsOrFundBalancesEOYAmt07256328
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0253
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0253
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt032576
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt032576
IRS990/NetIncomeOrLossGrp/ExclusionAmt011225
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt011225
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt019673
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt019673
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-43450
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0MISC FEES & CHARGES
IRS990/OtherExpensesGrp/Desc1COMMUNITY RELATIONS
IRS990/OtherExpensesGrp/FundraisingAmt01682
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt04994
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11295
IRS990/OtherExpensesGrp/TotalAmt06676
IRS990/OtherExpensesGrp/TotalAmt11295
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt014878
IRS990/OtherSalariesAndWagesGrp/TotalAmt014878
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07501
IRS990/PayrollTaxesGrp/TotalAmt07501
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0276916
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0200000
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Scott Wolber
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0Admissions/Ticket Sale
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt07615
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt07615
IRS990/ProgSrvcAccomActy2Grp/Desc01-TO-1 COMPUTER PROJECT PROVIDES FUNDING FOR THE SCHOOL DISTRICT TO PURCHASE LAPTOP COMPUTERS AND IPADS FOR STUDENT USE. THIS IS AN ONGOING PROGRAM THAT SERVED 1,750 STUDENTS THIS YEAR.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0138203
IRS990/ProgSrvcAccomActy2Grp/GrantAmt0138203
IRS990/ProgSrvcAccomActy3Grp/Desc0TO HELP STERLING SCHOOLS TO CONTINUE OR EXPAND EDUCATIONAL PROJECTS OTHERWISE LEFT WITHOUT ADEQUATE MONEY TO PROCEED BECAUSE OF BUDGETARY CONSTRAINTS OR COMPELLING PRIORITIES. OUR GOAL IS TO HELP PROVIDE THE VERY BEST EDUCATION FOR STUDENTS AS THEY PREPARE FOR CHALLENGES OF LIFE.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0422551
IRS990/ProgSrvcAccomActy3Grp/GrantAmt0422551
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt03548833
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0815627
IRS990/PYInvestmentIncomeAmt0117137
IRS990/PYOtherExpensesAmt034911
IRS990/PYOtherRevenueAmt047635
IRS990/PYProgramServiceRevenueAmt021363
IRS990/PYRevenuesLessExpensesAmt02799377
IRS990/PYSalariesCompEmpBnftPaidAmt085053
IRS990/PYTotalExpensesAmt0935591
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03734968
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0610465
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt019673
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt07615
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01405447
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0727477
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01089633
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0548833
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0620873
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0548253
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0609936
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03417528
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0226304
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0131995
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0113905
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0103485
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt092590
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0668279
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0372487
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt02181
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt015
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0125
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt070
IRS990ScheduleA/OtherIncome170Grp/TotalAmt02391
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.62180
IRS990ScheduleA/PublicSupportPY170Pct00.52720
IRS990ScheduleA/PublicSupportTotal170Amt02541895
IRS990ScheduleA/SubstantialContributorsTotAmt0875633
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01089633
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0548833
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0620873
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0548253
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0609936
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03417528
IRS990ScheduleA/TotalSupportAmt04088198
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.00000
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0295275
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0290905
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt07380
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt011750
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt03909114
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt03659281
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt06689313
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt097629
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt0976711
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt03728569
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0704020
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt03909114
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0491306
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt01014781
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt03822069
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0653908
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt03315790
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0355186
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt01515373
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt03302297
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0689170
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt03822069
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0423821
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt0593219
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt08665
IRS990ScheduleD/DonatedServicesUseFcltsAmt08665
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt028709
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0771863
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-43450
IRS990ScheduleD/OtherExpensesIncludedAmt020044
IRS990ScheduleD/OtherRevenueAmt020044
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.69000
IRS990ScheduleD/RevenueNotReportedAmt0-14741
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01382328
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE PURPOSE OF THE ENDOWMENT FUND IS TO USE THE EARNINGS TO PROVIDE A SCHOLARSHIP TO A STERLING HIGH SCHOOL GRADUATE(S) WHO IS PURSUING A DEGREE IN EDUCATION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1As stated in footnote (A), the Foundation is organized as a non-profit corporation under Section 501(c)(3) of the Internal Revenue Code. The Foundation pays no income tax on its related function income as long as it stays within the guidelines of Section 501(c)(3). The Foundation is subject to income tax on its non-related function income. For the year ending June 30, 2015, the Foundation did not have any non-related function income. Accordingly, the Foundation had no taxable income for the year. Accounting principles generally accepted in the United States of America provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in an enterprises financial statements. Generally accepted accounting principles require an entity to recognize the financial statement impact of a tax position when it is more likely than not that the position will be sustained upon examination.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RECLASS OF DIRECT FUNDRAISING EXPenses 8,394. RECLASS OF CONCESSION EXPENSES 11,650.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3RECLASS DIRECT FUNDRAISING EXPenses 8,394. RECLASS CONCESSION EXPENSES 11,650.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4EXPENSES RECLASSIFIED FOR 990 AGAINST INCOME
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XII & PART XIII, LINE 2D- OTHER ADJUSTMENTS:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.31000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0771863
IRS990ScheduleD/TotalRevenuePerForm990Amt01382328
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01367587
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0800572
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt07025
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt07025
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt010380
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Corn Boil

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,262,479
Liabilities
$6,151
Net assets
$7,256,328
Revenue
$1,382,328
Expenses
$771,863
Net income
$610,465
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.91$0.00$7.91$3.00$2.05$0.95
2024Detailed filing. Detailed filing data is available for this year.$7.69$0.00$7.69$1.56$1.84$0.28
2023Detailed filing. Detailed filing data is available for this year.$7.76$0.00$7.76$1.07$0.94$0.13
2022Detailed filing. Detailed filing data is available for this year.$7.39$0.01$7.39$1.22$1.09$0.13
2021Detailed filing. Detailed filing data is available for this year.$8.23$0.01$8.22$1.07$0.94$0.13
2020Detailed filing. Detailed filing data is available for this year.$6.79$0.01$6.78$0.84$1.05$0.21
2019Detailed filing. Detailed filing data is available for this year.$7.26$0.00$7.26$1.28$1.08$0.20
2018Detailed filing. Detailed filing data is available for this year.$7.39$0.00$7.39$0.88$1.00$0.12
2017Detailed filing. Detailed filing data is available for this year.$7.34$0.00$7.34$0.97$1.22$0.25
2016Detailed filing. Detailed filing data is available for this year.$7.26$0.01$7.26$1.38$0.77$0.61