Civic Intelligence

Warren Billy Cherry Scholarship Fund

EIN 36-3855673 • 501(c)3 • Evanston, IL

Pub. 78 Eligible

Profile

The Warren Billy Cherry scholarship fund was established in memory of Warren Cherry, a much loved and respected educator from Evanston, Illinois. The Organizations mission is to perpetuate his total acceptance of all people, his commitment to the highest standards of educational excellence and his energetic dedication to enriching children and institutions of Evanston.

PO 0944Evanston, IL 60204

www.cherryscholarship.org

Siviq Scores

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

Liabilities / Assets

34th percentile

0.01x

Higher debt load relative to assets than 34% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

55th percentile

0.11x

Higher debt load relative to revenue than 55% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

90th percentile

53%

Higher net margin than 90% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

82nd percentile

25%

Faster asset growth than 82% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

71st percentile

22%

Faster revenue growth than 71% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets34th percentile

Assets

Up

$3,132,494

Up $549,969 (+21%) from 2023

Liabilities

Up

$43,357

Up $883 (+2.1%) from 2023

Net Assets

Up

$3,089,137

Up $549,086 (+22%) from 2023

Operations
Liabilities / Revenue55th percentileNet Margin90th percentile

Revenue

Down

$400,995

Down $96,984 (-19%) from 2023

Expenses

Down

$188,141

Down $14,513 (-7.2%) from 2023

Net Income

Down

$212,854

Down $82,471 (-28%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth82nd percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2019: $1,672,323Liabilities 2019: $16,322Net Assets 2019: $1,656,0012019Assets 2020: $1,924,429Liabilities 2020: $18,484Net Assets 2020: $1,905,9452020Assets 2021: $2,270,862Liabilities 2021: $25,986Net Assets 2021: $2,244,8762021Assets 2022: $2,008,192Liabilities 2022: $35,850Net Assets 2022: $1,972,3422022Assets 2023: $2,582,525Liabilities 2023: $42,474Net Assets 2023: $2,540,0512023Assets 2024: $3,132,494Liabilities 2024: $43,357Net Assets 2024: $3,089,1372024

Highlighted filing

2024

Assets$3,132,494
Liabilities$43,357
Net Assets$3,089,137
Open 2024 Filing

Operations Trend

Revenue Growth71st percentile

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

$600K$400K$200K$0Revenue 2019: $396,809Expenses 2019: $134,403Net Income 2019: $262,4062019Revenue 2020: $228,803Expenses 2020: $110,266Net Income 2020: $118,5372020Revenue 2021: $216,108Expenses 2021: $106,213Net Income 2021: $109,8952021Revenue 2022: $268,470Expenses 2022: $128,539Net Income 2022: $139,9312022Revenue 2023: $497,979Expenses 2023: $202,654Net Income 2023: $295,3252023Revenue 2024: $400,995Expenses 2024: $188,141Net Income 2024: $212,8542024

Highlighted filing

2024

Revenue$400,995
Expenses$188,141
Net Income$212,854
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$3,132,494
Liabilities
$43,357
Net assets
$3,089,137
Revenue
$400,995
Expenses
$188,141
Net income
$212,854
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.13$0.04$3.09$0.40$0.19$0.21
2023Detailed filing. Detailed filing data is available for this year.$2.58$0.04$2.54$0.50$0.20$0.30
2022Detailed filing. Detailed filing data is available for this year.$2.01$0.04$1.97$0.27$0.13$0.14
2021Detailed filing. Detailed filing data is available for this year.$2.27$0.03$2.24$0.22$0.11$0.11
2020Detailed filing. Detailed filing data is available for this year.$1.92$0.02$1.91$0.23$0.11$0.12
2019Detailed filing. Detailed filing data is available for this year.$1.67$0.02$1.66$0.40$0.13$0.26
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 30, 2025
Return Version
2024v5.2
Gross Receipts
$823,529
Mission and Program Overview

Mission

The Warren Billy Cherry scholarship fund was established in memory of Warren Cherry, a much loved and respected educator from Evanston, Illinois. The Organizations mission is to perpetuate his total acceptance of all people, his commitment to the highest standards of educational excellence and his energetic dedication to enriching children and institutions of Evanston.

The Warren Billy Cherry scholarship fund was established in memory of Warren Cherry, a much loved and respected educator from Evanston, Illinois. The Organizations mission is to perpetuate his total acceptance of all people, his commitment to the highest standards of educational excellence and his energetic dedication to enriching children and institutions of Evanston. The Organization awards scholarships to individuals allowing them to pursue their dreams of higher education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,168,700$2,781,817▲ $613,117
Cash and Non-Interest-Bearing Accounts$231,714$139,681▼ $92,033
Savings and Temporary Cash Investments$14,828$52,217▲ $37,389
Pledges and Grants Receivable$82,000$45,500▼ $36,500
Accounts Receivable$9,990$30,000▲ $20,010
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,582,525$3,132,494▲ $549,969
Other Assets Total$75,293$83,279▲ $7,986
Liabilities
Accounts Payable and Accrued Expenses$42,474$43,357▲ $883
Total Liabilities$42,474$43,357▲ $883
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,540,051$3,089,137▲ $549,086
Total Net Assets Fund Balance$2,540,051$3,089,137▲ $549,086
Total Liabilities and Net Assets / Fund Balance$2,582,525$3,132,494▲ $549,969
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Patty Cherry ReeceChairman
Robert ReecePresident
Mimi SpivackVice President
William SpethVice President
Bethany MullinsDirector
Courney WolleyDirector
David LevineDirector
Denny CummingsDirector
Elijah BrewerDirector
Gerri SizemoreDirector
Joan DucayetDirector
Joe KeitelDirector
Michael LevineDirector
Nathan NormanDirector
Oliver RuffDirector
Pamela Akins-schanetteDirector
Rose JohnsonDirector
Scott LorenzDirector
Timon JandoraDirector
William BridgesDirector
Abby TruebloodMember at Large
Collin SalleeMember at Large
Sandy VitantonioSecretary
Lynn HammellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$142,928
Program Service Revenue
$0
Investment Income
$164,492
Other Revenue
$93,575
All Other Contributions
$142,928
Change in Net Assets
$212,854

Audited Revenue Reconciliation

Revenue per Audited Statements
$400,995
Revenue Not Reported on Form 990
$366,099
Total Revenue per Audited Statements
$767,094
Total Revenue per Form 990
$400,995
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$188,141
Total Fundraising Expense$5,814
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses-$4,803$3,150$7,953
Fees for Services Accounting-$5,000-$5,000
Other Expenses$143,439$1,837$2,664$4,501
Fees for Services Other-$3,770-$3,770
Office Expenses-$1,245-$1,245
Insurance-$780-$780
Total Functional Expenses$143,439$38,888$5,814$188,141

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$218,008
Expenses per Audited Statements$188,141
Total Expenses per Form 990$188,141
Expenses Not Reported on Form 990$29,867
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$123,442
Fundraising Direct Expenses$29,867
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$107,589$107,589$3,640$103,949
Awards Dinner$15,853$15,853$4,988$10,865
Total Events$123,442$123,442$29,867$93,575
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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, Part VI, Section A, Line 2

“Patty Cherry Reece (Chariman), Robert Reece (president), Lynn Hammell (Director), and Courtney Hammell (Director) have family relationships.”

Form 990, Part VI, Section B, Line 11B

“A copy of form 990 is provided to the organization”

Form 990, Part VI, Section B, Line 12C

“The Organization is current and compliant with its conflict of interest policy. Annually, each member of the governing body is required to disclose in writing any known conflicts of interest.”

Form 990, Part VI, Section C, Line 19

“All documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Warren Billy Cherry Scholarship Fund
EIN
36-3855673
Phone
8474241065
Address
PO 0944, EVANSTON, IL 60204

Signing Officer

Name
Robert Reece
Title
President
Signed
2025-09-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Reece
Formed
1992
Legal Domicile
Il
Voting Board Members
24
Independent Board Members
26
Employees
0
Volunteers
50

Preparer

Firm
Anna Nalls CPA Pc
Address
3415 CHURCH STREET, EVANSTON, IL 60203
Preparer
Anna Nalls
Phone
7738351696
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The finance committee reviews interim financial statements; reviews investment policy and investment results; discusses investment policies with current financial advisor.”

Financial Statement Notes

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Expenses - special events $29867”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Expenses - special events $29867”

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IRS990/MissionDesc0The Warren Billy Cherry scholarship fund was established in memory of Warren Cherry, a much loved and respected educator from Evanston, Illinois. The Organizations mission is to perpetuate his total acceptance of all people, his commitment to the highest standards of educational excellence and his energetic dedication to enriching children and institutions of Evanston.
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