Civic Intelligence

Sterling Schools Foundation

990 • Fiscal year 2022 • EIN 36-3575698

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 25, 2023

Organization ProfileSTERLINGSCHOOLSFOUNDATION.ORG
510 E Miller RdSterling, IL 61081

(815) 626-0022

Siviq Scores

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

Liabilities / Assets

10th percentile

0.00x

Higher debt load relative to assets than 10% of similar nonprofits.

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

Liabilities / Revenue

11th percentile

0.00x

Higher debt load relative to revenue than 11% of similar nonprofits.

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

Net Margin

58th percentile

11%

Higher net margin than 58% of similar nonprofits.

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

Top Officer Pay

37th percentile

$94,352

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 7.7% of source-year revenue.

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

Asset Growth

19th percentile

-10%

Faster asset growth than 19% of similar nonprofits.

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

Revenue Growth

64th percentile

14%

Faster revenue growth than 64% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets10th percentile

Assets

Down

$7,391,480

Down $838,706 (-10%) from 2021

Net Assets

Down

$7,386,068

Down $836,649 (-10%) from 2021

Liabilities

Down

$5,412

Down $2,057 (-28%) from 2021

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin58th percentile

Revenue

Up

$1,221,484

Up $150,545 (+14%) from 2021

Expenses

Up

$1,089,418

Up $148,503 (+16%) from 2021

Net Income

Up

$132,066

Up $2,042 (+1.6%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

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

2022

Assets$7,391,480
Liabilities$5,412
Net Assets$7,386,068
Open 2022 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 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

2022

Revenue$1,221,484
Expenses$1,089,418
Net Income$132,066
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 25, 2023
Return Version
2021v4.2
Gross Receipts
$1,338,711
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$6,821,801$6,175,339▼ $646,462
Land, Buildings, and Equipment, Net$1,002,141$967,654▼ $34,487
Savings and Temporary Cash Investments$406,194$248,437▼ $157,757
Cash and Non-Interest-Bearing Accounts$50$50→ $0
Total Assets$8,230,186$7,391,480▼ $838,706
Liabilities
Accounts Payable and Accrued Expenses$7,469$5,412▼ $2,057
Total Liabilities$7,469$5,412▼ $2,057
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,366,954$3,741,213▼ $625,741
Net Assets With Donor Restrictions$3,855,763$3,644,855▼ $210,908
Total Net Assets Fund Balance$8,222,717$7,386,068▼ $836,649
Total Liabilities and Net Assets / Fund Balance$8,230,186$7,391,480▼ $838,706

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$694,675$20,209$714,884
Land$185,777-$185,777
Equipment$82,877$35,707$118,584
Other Land Buildings$4,325-$4,325

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$350,711-▼ $26,728$22,500$301,483
2020$297,293-▲ $76,668$23,250$350,711
2019$321,990-▼ $3,697$21,000$297,293
2018$313,760-▲ $17,230$9,000$321,990
2017$308,490-▲ $21,020$15,750$313,760
Compensation and Service Providers
Top Officer Pay37th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Jim C SpencerExecutive DirectorPT$94,352$94,352

Board Members and Trustees

NameTitle
Scott WolberPresident
Peter W DillonVice President
Ed AndersenDirector
Greg ZeiglerDirector
Maggie WikeDirector
Pam CapesDirector
Tad EverettDirector
Will LeeDirector
Alice ReterSecretary
Paul OsbornSecretary (thru Jan, 2022)
Heather SoteloTreasurer (thru Jan, 2022)
Revenue and Support

Revenue Composition

Contributions and Grants
$624,134
Program Service Revenue
$5,872
Investment Income
$405,858
Other Revenue
$185,620
All Other Contributions
$399,187
Change in Net Assets
$132,066

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,221,484
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-926,424
Total Revenue per Audited Statements
$295,060
Total Revenue per Form 990
$1,221,484
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$582,211
Other Expenses$436,383
Salaries, Compensation, and Employee Benefits$70,824
Total Fundraising Expense$7,125
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$510,515--$510,515
Fees for Services Other$103,094$13,199-$116,293
Grants to Domestic Individuals$71,696--$71,696
Occupancy$48,383$6,195-$54,578
Current Officers, Directors, Trustees, and Key Employees$48,012$6,147-$54,159
Depreciation Depletion-$41,227-$41,227
Fees for Services Accounting$7,846$10,700-$18,546
Office Expenses-$6,514$7,125$13,639
Other Salaries and Wages$11,768$1,507-$13,275
Other Employee Benefits$3,005$385-$3,390
All Other Expenses-$717-$717
Other Expenses$149,527$200-$200
Total Functional Expenses$953,846$128,447$7,125$1,089,418

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,131,709
Expenses per Audited Statements$1,089,418
Total Expenses per Form 990$1,089,418
Expenses Not Reported on Form 990$42,291
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Sterling Schools Cusd No 5Sterling, IL170(c)1TO SUPPORT THE OPERATIONS OF THE CENTENNIAL AUDITORIUM LOCATED ON THE STERLING HIGH SCHOOL CAMPUS AND TO ASSIST IN THE DEVELOPMENT AND EDUCATION PURPOSES OF STERLING UNIT #5 SCHOOL DISTRICT.$510,515
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$23,799
Fundraising Direct Expenses$22,327
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Corn Boil$9,193$9,193$370$8,823
Golf Outing$8,385$8,385$166$8,219
Total Events$23,799$23,799$22,327$1,472
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 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
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 11B

“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
510 E MILLER RD, STERLING, IL 61081

Signing Officer

Name
Jim C Spencer
Title
Executive Director
Phone
8156260022
Signed
2023-04-25
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
100

Preparer

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

Additional Explanations

Form 990, Part IX, Line 11G

“Contractual services: program service expenses 103,094. Management and general expenses 13,199. Fundraising expenses 0. Total expenses 116,293.”

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:

“The foundation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code, except on net income derived from unrelated business activities. For the year ending june 30, 2022, the foundation did not have any income derived from unrelated business activities. Accordingly, the foundation had no taxable income for the year ended june 30, 2022.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Direct fundraising expenses 22,327. Cost of goods sold 19,964.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Direct fundraising expenses 22,327. Cost of goods sold 19,964.”

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

“Expenses reclassified for 990 against income”

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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/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10SECRETARY (THRU JAN, 2022)
IRS990/Form990PartVIISectionAGrp/TitleTxt11EXECUTIVE DIRECTOR
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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.
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IRS990/ProgSrvcAccomActy2Grp/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/ProgSrvcAccomActy2Grp/GrantAmt099578
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt05872
IRS990/ProgSrvcAccomActy3Grp/Desc0THE ACADEMIC BOOSTER CLUB SUPPORTS STERLING HIGH SCHOOL AND CHALLAND MIDDLE SCHOOL, WHICH ARE PART OF THE STERLING PUBLIC SCHOOL SYSTEM. AS A STERLING SCHOOLS FOUNDATION COMMITTEE, THE ORGANIZATION PROVIDES FUNDING TO ENSURE THE HIGH SCHOOL AND MIDDLE SCHOOL CAN OFFER CO-CURRICULAR PROGRAMS LIKE STUDENT COUNCIL.
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IRS990/ProgSrvcAccomActy3Grp/GrantAmt0110425
IRS990/ProgSrvcAccomActyOtherGrp/Desc0BLUE & GOLD PROGRAM FUNDS IMPORTANT ALUMNI RELATIONS EFFORTS INCLUDING PUBLICATION OF ANNUAL ALUMNI MAGAZINE, MONTHLY EMAIL NEWSLETTER AND OUR ORGANIZATION'S WEBSITE. SEASONAL STAFF IS HIRED TO RESEARCH AND COMPLETE INFORMATION INCLUDED IN COMMUNICATION PEICES. MAIL 12,000 ANNUAL ALUMNI MAGAZINES AND EMAIL 6,500 MONTHLY.
IRS990/ProgSrvcAccomActyOtherGrp/Desc1MINI GRANT PROGRAM PROVIDES GRANTS TO CLASSROOM TEACHERS TO SUPPLEMENT EDUCATIONAL MATERIALS AND PROGRAMS PROVIDED BY THE SCHOOL DISTRICT.
IRS990/ProgSrvcAccomActyOtherGrp/Desc2TOOLS & TECHNOLOGY IS A PROGRAM CREATED TO FUND PURCHASES OF EDUCATIONAL-BASED TECHNOLOGY (HARDWARE, SOFTWARE, AND RELATED SUPPLIES) FOR ALL STUDENTS IN THE STERLING PUBLIC SCHOOLS.
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IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt185775
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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
$7,391,480
Liabilities
$5,412
Net assets
$7,386,068
Revenue
$1,221,484
Expenses
$1,089,418
Net income
$132,066
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