Civic Intelligence

Sterling-Rock Falls Community Trust

990 • Fiscal year 2020 • EIN 36-6217952

Jan 01, 2020 to Dec 31, 2020 • Filed on Jul 01, 2021

Organization ProfileWWW.SRFCT.ORG
302 First AvenueSterling, IL 61081

(815) 622-1329

Siviq Scores

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

Liabilities / Assets

15th percentile

0.00x

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

15th percentile

0.00x

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

16th percentile

-20%

Higher net margin than 16% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

51st percentile

6.4%

Faster asset growth than 51% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

32nd percentile

-11%

Faster revenue growth than 32% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets15th percentile

Assets

Up

$3,559,229

Up $213,626 (+6.4%) from 2019

Net Assets

Up

$3,559,229

Up $213,626 (+6.4%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin16th percentile

Revenue

Down

$329,575

Down $38,720 (-11%) from 2019

Expenses

Up

$394,147

Up $70,578 (+22%) from 2019

Net Income

Down

-$64,572

Down $109,298 (-244%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth51st percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2018: $2,950,854Liabilities 2018: $0Net Assets 2018: $2,950,8542018Assets 2019: $3,345,603Liabilities 2019: $0Net Assets 2019: $3,345,6032019Assets 2020: $3,559,229Liabilities 2020: $0Net Assets 2020: $3,559,2292020Assets 2021: $3,829,479Liabilities 2021: $0Net Assets 2021: $3,829,4792021Assets 2022: $3,188,201Liabilities 2022: $0Net Assets 2022: $3,188,2012022Assets 2023: $3,415,157Liabilities 2023: $0Net Assets 2023: $3,415,1572023Assets 2024: $3,583,210Liabilities 2024: $0Net Assets 2024: $3,583,2102024

Highlighted filing

2020

Assets$3,559,229
Liabilities$0
Net Assets$3,559,229
Open 2020 Filing

Operations Trend

Revenue Growth32nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2018: $496,827Expenses 2018: $353,320Net Income 2018: $143,5072018Revenue 2019: $368,295Expenses 2019: $323,569Net Income 2019: $44,7262019Revenue 2020: $329,575Expenses 2020: $394,147Net Income 2020: -$64,5722020Revenue 2021: $951,811Expenses 2021: $325,835Net Income 2021: $625,9762021Revenue 2022: $202,274Expenses 2022: $381,934Net Income 2022: -$179,6602022Revenue 2023: $357,593Expenses 2023: $420,182Net Income 2023: -$62,5892023Revenue 2024: $535,633Expenses 2024: $535,957Net Income 2024: -$3242024

Highlighted filing

2020

Revenue$329,575
Expenses$394,147
Net Income-$64,572
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jul 1, 2021
Return Version
2020v4.0
Gross Receipts
$1,635,522
Mission and Program Overview

Mission

To create an opportunity for donors to participate in scholarships and projects that improve the quality of life within our local communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,108,215$3,325,066▲ $216,851
Cash and Non-Interest-Bearing Accounts$237,388$234,163▼ $3,225
Total Assets$3,345,603$3,559,229▲ $213,626
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,748,773$2,923,633▲ $174,860
Net Assets Without Donor Restrictions$596,830$635,596▲ $38,766
Total Net Assets Fund Balance$3,345,603$3,559,229▲ $213,626
Total Liabilities and Net Assets / Fund Balance$3,345,603$3,559,229▲ $213,626

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$3,345,603$229,084▲ $386,664$29$3,559,229
2019$2,950,854$219,825▲ $505,743$468$3,345,603
2018$3,257,195$219,419▼ $161,468$430$2,950,854
2017$3,059,489$211,552▲ $355,957$656$3,257,195
2016$2,954,197$217,348▲ $166,071$2,631$3,059,489
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Mary Ellen WilkinsonChairperson
Peter DillonVice Chair
Elizabeth KlahnTrustee
John MccormickTrustee
Sheila MartinezTrustee
Suzy PerinoTrustee
Rock GentrySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$221,109
Program Service Revenue
$0
Investment Income
$108,466
Other Revenue
$0
All Other Contributions
$221,109
Change in Net Assets
$-64,572

Audited Revenue Reconciliation

Revenue per Audited Statements
$329,575
Revenue Not Reported on Form 990
$286,173
Total Revenue per Audited Statements
$615,748
Total Revenue per Form 990
$329,575
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$355,521
Other Expenses$38,626
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$274,493--$274,493
Grants to Domestic Orgs$81,028--$81,028
Fees for Service Investment Mgmnt Fees-$31,697-$31,697
Fees for Services Accounting-$6,900-$6,900
Other Expenses-$29-$29
Total Functional Expenses$355,521$38,626$0$394,147

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$402,122
Expenses per Audited Statements$394,147
Total Expenses per Form 990$394,147
Expenses Not Reported on Form 990$7,975
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Sterling Rock Falls Family YmcaSterling, IL501c3Programming$27,500
United Way of Whiteside CountySterling, IL501c3Programming$12,000
Sterling-rf Historical SocietySterling, IL501c3Programming$7,986
City of Sterling Public LibrarySterling, IL501c3Programming$7,500
Woodlawn Arts AcademySterling, IL501c3Programming$7,437
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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
Annual disclosure for covered persons
Yes
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
Yes
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

“Form 990 is provided to the board for review prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Conflicts of interest are determined and reviewed at the board level.”

Form 990, Page 6, Part VI, Line 19

“The governing documents, conflict of interest policy, and financial statements are made available upon request. The summarized annual financial report is posted on the community trust's website.”

Filing and Contact Details

Filer

Filer Name
Sterling Rock Falls Community Trust
EIN
36-6217952
Phone
8156221329
Address
302 FIRST AVENUE, STERLING, IL 61081

Signing Officer

Name
Mary Ellen Wilkinson
Title
Chairperson
Phone
8156264321
Signed
2021-07-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Ellen Wilkinson
Formed
1968
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Lucas Group Cpas Advisors LLC
Address
524 W STEPHENSON ST STE 200, FREEPORT, IL 61032
Preparer
Aspen Tipp
Phone
8152359610
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“In june 2006, the financial standards board issued interpretation no. 48, accounting for uncertainty in income taxes, an interpretation of fasb statement no. 109 (fin 48), to create a single model to address accounting for uncertainty in tax positions. Fin 48 clarifies the accounting for income taxes by prescribing the minimum recognition threshold a tax position must meet before being recognized in the financial statements. Fin 48 also provides guidance on de-recognition, measurement, classification, interest and penalties, disclosure and transition. The sterling-rock falls community trust has determined the effect of the adoption of fin 48 is immaterial on the coummunity trust's financial position and result of operations.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IN JUNE 2006, THE FINANCIAL STANDARDS BOARD ISSUED INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, AN INTERPRETATION OF FASB STATEMENT NO. 109 (FIN 48), TO CREATE A SINGLE MODEL TO ADDRESS ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS. FIN 48 CLARIFIES THE ACCOUNTING FOR INCOME TAXES BY PRESCRIBING THE MINIMUM RECOGNITION THRESHOLD A TAX POSITION MUST MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. FIN 48 ALSO PROVIDES GUIDANCE ON DE-RECOGNITION, MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE AND TRANSITION. THE STERLING-ROCK FALLS COMMUNITY TRUST HAS DETERMINED THE EFFECT OF THE ADOPTION OF FIN 48 IS IMMATERIAL ON THE COUMMUNITY TRUST'S FINANCIAL POSITION AND RESULT OF OPERATIONS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONFLICTS OF INTEREST ARE DETERMINED AND REVIEWED AT THE BOARD LEVEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. THE SUMMARIZED ANNUAL FINANCIAL REPORT IS POSTED ON THE COMMUNITY TRUST'S WEBSITE.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,559,229
Liabilities
$0
Net assets
$3,559,229
Revenue
$329,575
Expenses
$394,147
Net income
-$64,572
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.58$0.00$3.58$0.54$0.54$0.00
2023Detailed filing. Detailed filing data is available for this year.$3.42$0.00$3.42$0.36$0.42$0.06
2022Detailed filing. Detailed filing data is available for this year.$3.19$0.00$3.19$0.20$0.38$0.18
2021Detailed filing. Detailed filing data is available for this year.$3.83$0.00$3.83$0.95$0.33$0.63
2020Detailed filing. Detailed filing data is available for this year.$3.56$0.00$3.56$0.33$0.39$0.06
2019Detailed filing. Detailed filing data is available for this year.$3.35$0.00$3.35$0.37$0.32$0.04
2018Detailed filing. Detailed filing data is available for this year.$2.95$0.00$2.95$0.50$0.35$0.14