Civic Intelligence

Sterling Schools Foundation

990 • Fiscal year 2024 • EIN 36-3575698

Jul 01, 2023 to Jun 30, 2024 • Filed on May 05, 2025

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

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

14th percentile

-18%

Higher net margin than 14% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

34th percentile

$89,674

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 5.7% of source-year revenue.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

30th percentile

-0.9%

Faster asset growth than 30% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

82nd percentile

45%

Faster revenue growth than 82% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets8th percentile

Assets

Down

$7,690,825

Down $68,064 (-0.9%) from 2023

Net Assets

Down

$7,690,825

Down $68,064 (-0.9%) from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin14th percentile

Revenue

Up

$1,559,586

Up $487,364 (+45%) from 2023

Expenses

Up

$1,836,322

Up $892,924 (+95%) from 2023

Net Income

Down

-$276,736

Down $405,560 (-315%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth30th 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

2024

Assets$7,690,825
Liabilities$0
Net Assets$7,690,825
Open 2024 Filing

Operations Trend

Revenue Growth82nd 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

2024

Revenue$1,559,586
Expenses$1,836,322
Net Income-$276,736
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 5, 2025
Return Version
2023v6.0
Gross Receipts
$1,653,010
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$6,671,045$6,526,384▼ $144,661
Land, Buildings, and Equipment, Net$938,676$893,197▼ $45,479
Cash and Non-Interest-Bearing Accounts$50$271,244▲ $271,194
Savings and Temporary Cash Investments$149,118--
Total Assets$7,758,889$7,690,825▼ $68,064
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,798,184$3,855,096▲ $56,912
Net Assets With Donor Restrictions$3,960,705$3,835,729▼ $124,976
Total Net Assets Fund Balance$7,758,889$7,690,825▼ $68,064
Total Liabilities and Net Assets / Fund Balance$7,758,889$7,690,825▼ $68,064

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$658,931$55,953$714,884
Land$185,777-$185,777
Equipment$48,489$89,541$138,030

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
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
2019$321,990-▼ $3,697$21,000$297,293
Compensation and Service Providers
Top Officer Pay34th percentile

Employees

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

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$919,735
Program Service Revenue
$4,675
Investment Income
$416,408
Other Revenue
$218,768
All Other Contributions
$743,150
Change in Net Assets
$-276,736

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,559,586
Revenue Not Reported on Form 990
$302,096
Total Revenue per Audited Statements
$1,861,682
Total Revenue per Form 990
$1,559,586
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$953,764
Other Expenses$809,571
Salaries, Compensation, and Employee Benefits$72,987
Total Fundraising Expense$3,280
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$874,514--$874,514
Fees for Services Other$146,179--$146,179
Occupancy$104,347$7,293-$111,640
Grants to Domestic Individuals$79,250--$79,250
Current Officers, Directors, Trustees, and Key Employees-$57,127-$57,127
All Other Expenses$36,908$6,302$3,280$46,490
Depreciation Depletion-$45,479-$45,479
Fees for Services Accounting-$27,539-$27,539
Office Expenses$12,660$5,841-$18,501
Other Salaries and Wages$14,907$953-$15,860
Other Expenses$12,075$3,622-$15,697
Insurance-$3,937-$3,937
Total Functional Expenses$1,625,302$207,740$3,280$1,836,322

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,929,746
Expenses per Audited Statements$1,836,322
Total Expenses per Form 990$1,836,322
Expenses Not Reported on Form 990$93,424
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Sterling Schools Cusd No 5Sterling, IL170c1Auditorium Operation$874,514
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$38,219
Fundraising Direct Expenses$16,172
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Block Party$34,260$34,260$2,461$31,799
Total Events$34,260$34,260$12,923$21,337
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
2025-05-05
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 Pllc
Address
1753 S WEST AVE, FREEPORT, IL 61032-6709
Preparer
Daniel Rowe
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 77,252 fundraising event expenses 16,172 cost of good sold -77,252 fundraising event expenses -16,172”

Financial Statement Notes

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

“Cost of goods sold 77,252 fundraising event expenses 16,172”

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

“Cost of good sold 77,252 fundraising event expenses 16,172”

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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/Desc0OTHER GRANT EXPENSE
IRS990/OtherExpensesGrp/Desc1GWTV EXPENSE
IRS990/OtherExpensesGrp/Desc2EQUIPMENT & CAPITAL IMPRO
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12855
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IRS990/OtherExpensesGrp/TotalAmt244906
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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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IRS990/RentalIncomeOrLossGrp/RealAmt08239
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0658931
IRS990ScheduleD/BuildingsGrp/DepreciationAmt055953
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt023871
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt027184
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IRS990ScheduleD/RevenueSubtotalAmt01559586
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0COST OF GOODS SOLD 77,252 FUNDRAISING EVENT EXPENSES 16,172
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1COST OF GOOD SOLD 77,252 FUNDRAISING EVENT EXPENSES 16,172
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS AWARDED
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Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,690,825
Liabilities
$0
Net assets
$7,690,825
Revenue
$1,559,586
Expenses
$1,836,322
Net income
-$276,736
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