Civic Intelligence

Illinois College

EIN 37-0661211 • 501(c)3 • Jacksonville, IL

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Profile

Illinois college is a co-educational institution of higher education learning providing a four-year educational program leading to the baccalaureate degree. Illinois college is a community committed to the highest standards of scholarship and integrity in the liberal arts.

1101 West College AvenueJacksonville, IL 62650-2299

www.ic.edu

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.20x

Higher debt load relative to assets than 42% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Liabilities / Revenue

66th percentile

0.74x

Higher debt load relative to revenue than 66% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Net Margin

11th percentile

-16%

Higher net margin than 11% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Top Officer Pay

53rd percentile

$449,758

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Asset Growth

24th percentile

-0.5%

Faster asset growth than 24% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2025

Revenue Growth

21st percentile

-4.5%

Faster revenue growth than 21% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2025

Balance Sheet
Liabilities / Assets42nd percentile

Assets

Down

$206,402,063

Down $9,400,893 (-4.4%) from 2024

Liabilities

Down

$41,584,043

Down $2,205,588 (-5.0%) from 2024

Net Assets

Down

$164,818,020

Down $7,195,305 (-4.2%) from 2024

Operations
Liabilities / Revenue66th percentileNet Margin11th percentile

Revenue

Down

$56,465,525

Down $2,642,203 (-4.5%) from 2024

Expenses

Up

$65,474,299

Up $677,205 (+1.0%) from 2024

Net Income

Down

-$9,008,774

Down $3,319,408 (-58%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth24th percentile

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

$300M$200M$100M$0Assets 2010: $187,432,114Liabilities 2010: $27,977,922Net Assets 2010: $159,454,1922010Assets 2011: $207,112,295Liabilities 2011: $32,220,453Net Assets 2011: $174,891,8422011Assets 2012: $207,970,234Liabilities 2012: $32,419,723Net Assets 2012: $175,550,5112012Assets 2013: $221,865,786Liabilities 2013: $30,603,274Net Assets 2013: $191,262,5122013Assets 2014: $226,239,523Liabilities 2014: $28,525,755Net Assets 2014: $197,713,7682014Assets 2015: $224,687,103Liabilities 2015: $27,821,893Net Assets 2015: $196,865,2102015Assets 2016: $207,880,656Liabilities 2016: $28,838,447Net Assets 2016: $179,042,2092016Assets 2017: $207,758,570Liabilities 2017: $26,263,169Net Assets 2017: $181,495,4012017Assets 2018: $207,132,347Liabilities 2018: $28,428,649Net Assets 2018: $178,703,6982018Assets 2019: $199,366,071Liabilities 2019: $29,011,688Net Assets 2019: $170,354,3832019Assets 2020: $192,079,972Liabilities 2020: $27,957,723Net Assets 2020: $164,122,2492020Assets 2021: $220,004,192Liabilities 2021: $27,019,708Net Assets 2021: $192,984,4842021Assets 2022: $209,663,245Liabilities 2022: $26,343,125Net Assets 2022: $183,320,1202022Assets 2023: $219,606,348Liabilities 2023: $45,453,161Net Assets 2023: $174,153,1872023Assets 2024: $215,802,956Liabilities 2024: $43,789,631Net Assets 2024: $172,013,3252024Assets 2025: $206,402,063Liabilities 2025: $41,584,043Net Assets 2025: $164,818,0202025

Highlighted filing

2025

Assets$206,402,063
Liabilities$41,584,043
Net Assets$164,818,020
Open 2025 Filing

Operations Trend

Revenue Growth21st percentile

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

$100M$50M$0-$50MExpenses 2010: $33,722,4072010Expenses 2011: $36,190,9612011Expenses 2012: $40,331,6432012Expenses 2013: $44,682,9132013Revenue 2014: $44,702,799Expenses 2014: $46,634,548Net Income 2014: -$1,931,7492014Revenue 2015: $47,554,054Expenses 2015: $48,606,178Net Income 2015: -$1,052,1242015Revenue 2016: $87,782,825Expenses 2016: $51,874,107Net Income 2016: $35,908,7182016Revenue 2017: $43,995,246Expenses 2017: $50,647,922Net Income 2017: -$6,652,6762017Revenue 2018: $45,137,415Expenses 2018: $51,879,592Net Income 2018: -$6,742,1772018Revenue 2019: $51,627,909Expenses 2019: $54,087,469Net Income 2019: -$2,459,5602019Revenue 2020: $53,219,755Expenses 2020: $57,465,570Net Income 2020: -$4,245,8152020Revenue 2021: $62,221,628Expenses 2021: $58,606,163Net Income 2021: $3,615,4652021Revenue 2022: $64,876,900Expenses 2022: $61,080,908Net Income 2022: $3,795,9922022Revenue 2023: $51,317,541Expenses 2023: $60,021,916Net Income 2023: -$8,704,3752023Revenue 2024: $59,107,728Expenses 2024: $64,797,094Net Income 2024: -$5,689,3662024Revenue 2025: $56,465,525Expenses 2025: $65,474,299Net Income 2025: -$9,008,7742025

Highlighted filing

2025

Revenue$56,465,525
Expenses$65,474,299
Net Income-$9,008,774
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$206,402,063
Liabilities
$41,584,043
Net assets
$164,818,020
Revenue
$56,465,525
Expenses
$65,474,299
Net income
-$9,008,774
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$206$41.6$165$56.5$65.5$9.01
2024Detailed filing. Detailed filing data is available for this year.$216$43.8$172$59.1$64.8$5.69
2023Detailed filing. Detailed filing data is available for this year.$220$45.5$174$51.3$60.0$8.70
2022Detailed filing. Detailed filing data is available for this year.$210$26.3$183$64.9$61.1$3.80
2021Detailed filing. Detailed filing data is available for this year.$220$27.0$193$62.2$58.6$3.62
2020Detailed filing. Detailed filing data is available for this year.$192$28.0$164$53.2$57.5$4.25
2019Detailed filing. Detailed filing data is available for this year.$199$29.0$170$51.6$54.1$2.46
2018Detailed filing. Detailed filing data is available for this year.$207$28.4$179$45.1$51.9$6.74
2017Detailed filing. Detailed filing data is available for this year.$208$26.3$181$44.0$50.6$6.65
2016Detailed filing. Detailed filing data is available for this year.$208$28.8$179$87.8$51.9$35.9
2015Detailed filing. Detailed filing data is available for this year.$225$27.8$197$47.6$48.6$1.05
2014Detailed filing. Detailed filing data is available for this year.$226$28.5$198$44.7$46.6$1.93
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$222$30.6$191$44.7
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$208$32.4$176$40.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$207$32.2$175$36.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$187$28.0$159$33.7
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jun 1, 2024 to May 31, 2025
Signed
Feb 17, 2026
Return Version
2024v5.5
Gross Receipts
$222,994,765
Mission and Program Overview

Mission

True to its founding vision in 1829, illinois college is a community committed to the highest standards of scholarship and integrity in the liberal arts. The college develops in its students qualities of mind and character needed for fulfilling lives of leadership and service.

Illinois college is a co-educational institution of higher learning in the liberal arts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$104,082,476$98,583,070▼ $5,499,406
Land, Buildings, and Equipment, Net$60,172,134$58,846,497▼ $1,325,637
Savings and Temporary Cash Investments$13,076,085$10,202,193▼ $2,873,892
Investments Other Securities$5,646,681$6,012,292▲ $365,611
Prepaid Expenses and Deferred Charges$732,740$836,141▲ $103,401
Accounts Receivable$1,230,103$818,962▼ $411,141
Inventories for Sale or Use$121,411$120,505▼ $906
Other Notes and Loans Receivable, Net$190,493$109,084▼ $81,409
Pledges and Grants Receivable$205,749$65,644▼ $140,105
Total Assets$215,802,956$206,402,063▼ $9,400,893
Other Assets Total$30,345,084$30,807,675▲ $462,591
Liabilities
Tax Exempt Bond Liabilities$26,070,376$24,247,322▼ $1,823,054
Accounts Payable and Accrued Expenses$7,805,798$7,308,828▼ $496,970
Mortgage Notes Payable Secured by Investment Property$6,660,156$6,860,156▲ $200,000
Deferred Revenue$2,582,371$2,458,490▼ $123,881
Other Liabilities$670,930$709,247▲ $38,317
Total Liabilities$43,789,631$41,584,043▼ $2,205,588
Net Assets / Fund Balance
Net Assets With Donor Restrictions$112,047,519$108,288,146▼ $3,759,373
Net Assets Without Donor Restrictions$59,965,806$56,529,874▼ $3,435,932
Total Net Assets Fund Balance$172,013,325$164,818,020▼ $7,195,305
Total Liabilities and Net Assets / Fund Balance$215,802,956$206,402,063▼ $9,400,893

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$52,107,622$63,618,851$115,726,473
Equipment$3,734,443$24,091,830$27,826,273
Leasehold Improvements$2,347,081$7,078,405$9,425,486
Land$465,933-$465,933
Other Land Buildings$191,418-$191,418
Other Assets Org$1,076,927--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$139,556,008$1,164,361▲ $10,026,560$17,727,762$133,019,167
2023$139,414,288$1,111,060▲ $17,040,000$18,009,340$139,556,008
2022$146,550,216$2,686,392▲ $2,919,035$12,741,355$139,414,288
2021$155,486,965$957,322▼ $569,307$9,324,764$146,550,216
2020$126,104,821$796,041▲ $35,405,191$6,819,088$155,486,965
Compensation and Service Providers
Top Officer Pay53rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Barbara FarleyPresidentFT$356,436$93,322$449,758
CATHARINE O'CONNELLProvost/dean of CollegeFT$194,382$64,534$258,916
Stephanie ChipmanVP of External RelationsFT$174,405$35,108$209,513
Kent SiltmanVP of Business/CFOFT$152,708$52,246$204,954
Melissa DysonAssociate VP of Finance &FT$114,171$32,120$146,291
Lauren HaysDirector of Human ResourceFT$102,021$39,645$141,666
Evan WilsonAssociate VP of EnrollmentFT$105,705$31,618$137,323
Elizabeth ZettlerProfessor of PsychologyFT$100,864$26,658$127,522
Angela BentleyDirector of Nursing/associFT$120,378$6,060$126,438

Board Members and Trustees

NameTitle
Steven R MillsBoard Member & Chair
Susan L PrattBoard Member & Vice Chair
Ellen F Rammelkamp MillerBoard Member
George a ZelcsBoard Member
Gerry L BeardBoard Member
Greg C MayBoard Member
Henry a SchmittBoard Member
James W SpradlinBoard Member
Jean C StatlerBoard Member
Joanna MarkerBoard Member
Joel C HarmonBoard Member
Joseph T CalmeseBoard Member
Julie B MacartneyBoard Member
Luiz E GuimaraesBoard Member
Michael D BauersachsBoard Member
Michael a FletcherBoard Member
Patrick B MathisBoard Member
Ryan T BarkeBoard Member
Scott BostonBoard Member
Stephen D OetgenBoard Member
Susan J AllenBoard Member
Toni L BlankmannBoard Member
Winston Rogers IiiBoard Member
Joan M DeboerBoard Member & Secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
ChartwellsFood Service91337 COLLECTIONS DRIVE, Chicago, IL 60693-1337$2,602,361
Ruffalo Noel Levitz LLCOnline Program Services5249 N PARK PL NE 1061, Cedar Rapids, IA 52402-6210$1,489,934
Hymes Construction IncorporatedConstruction108 EDLEN LANE, Jacksonville, IL 62650$1,149,290
Weber Electric INCConstruction136 GREENWOOD AVENUE, Bloomington, IL 61704$745,222
A Book Company LLCTextbook Service28312 NETWORK PLACE, Chicago, IL 60673-1283$648,117
Revenue and Support

Revenue Composition

Contributions and Grants
$7,475,713
Program Service Revenue
$39,699,246
Investment Income
$8,289,441
Other Revenue
$1,001,125
All Other Contributions
$3,567,930
Change in Net Assets
$-9,008,774

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded15$607,810Fair Market Value (FMV)
Other Non Cash Contri Table33$10,725Cost
Total Noncash Contributions48$618,535-

Audited Revenue Reconciliation

Revenue per Audited Statements
$35,682,665
Revenue Not Reported on Financial Statements
$20,782,860
Revenue Not Reported on Form 990
$1,813,584
Other Revenue Adjustments
$20,409,524
Total Revenue per Audited Statements
$37,496,249
Total Revenue per Form 990
$56,465,525
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$22,863,989
Other Expenses$22,538,714
Grants and Similar Amounts Paid$19,963,296
Total Fundraising Expense$2,097,607
Professional Fundraising Fees$108,300

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$19,963,296--$19,963,296
Other Salaries and Wages$14,292,070$1,354,348$769,927$16,416,345
Depreciation Depletion$3,877,288$367,421$208,873$4,453,582
Other Employee Benefits$2,932,250$277,867$157,963$3,368,080
Occupancy$2,887,689$322,973$106,233$3,316,895
Fees for Services Other$2,313,711$219,252$124,642$2,657,605
Office Expenses$1,394,857$132,180$75,142$1,602,179
Payroll Taxes$1,064,993$100,922$57,371$1,223,286
Travel$1,043,734$98,907$56,227$1,198,868
Interest$998,662$148,434-$1,147,096
Current Officers, Directors, Trustees, and Key Employees$308,057$617,886$213,872$1,139,815
All Other Expenses$718,916$36,105$7,270$762,291
Pension Plan Contributions$623,753$59,108$33,602$716,463
Advertising$554,930$52,586$29,895$637,411
Insurance$543,436$51,498$29,275$624,209
Information Technology$378,111$35,830$20,369$434,310
Other Expenses$340,277$35,385$15,191$390,853
Fees for Service Investment Mgmnt Fees-$373,336-$373,336
Fees for Services Professional Fundraising--$108,300$108,300
Fees for Services Accounting-$71,470-$71,470
Fees for Services Legal-$46,330-$46,330
Total Functional Expenses$58,828,051$4,548,641$2,097,607$65,474,299

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$65,474,299
Expenses per Audited Statements$44,691,554
Total Expenses per Audited Statements$44,691,554
Expenses Not Reported on Financial Statements$20,782,745
Other Expense Adjustments$20,409,409
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
22
Spending
$11,203,602

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments000$11,084,017
Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas,Program ServicesRecruiting, Research08$67,341
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumProgram ServicesStudent Breakaway, Research011$38,222
South AmericaProgram ServicesResearch01$11,872
East Asia and the Pacific - Australia, Brunei, Burma, Cambodia,Program ServicesConference01$1,263
North AmericaProgram ServicesConference01$887
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$108,300
Fundraising Gross Income$20,199
Fundraising Direct Expenses$13,887

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$20,199$20,199$1,249$18,950
Total Events$20,199$20,199$13,887$6,312
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Finance Lease$534,509
Advance From US Govt Perkins Loan Program$174,738

Bond Issues

BondIssuerIssuedIssue PricePurpose
CIllinois Financing Authority2022-08-31$20,000,000BUILDING RENOVATION
AIllinois Financing Authority2005-01-13$15,000,000Construction of new residence hall
BPnc Bank2010-12-23$3,900,000ENERGY PROJECT

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$20,000,000-$710,000$219,005
A$15,000,000-$810,000$228,875
B$3,900,000-$327,927$71,343

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
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
Yes
Other officer compensation reviewed
Yes
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 B, Line 11B

“The board of trustees have directed the audit working group of the finance and audit committee to review the annual 990. The audit working group has the accounting expertise to understand and evaluate the 990. After the audit working group reviews and approves the 990, the board of trustees are provided an electronic form and a paper copy upon request for review. After the forms are made available to the board of trustees, the form 990 is filed with the irs.”

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

“Annually members of the board of trustees complete a disclosure form. The president's office collects the forms. These forms are provided to the board chairperson and reviewed for any conflicts of interest. The college has a handbook that includes the conflict of interest policy. This is provided to all faculty, staff, board of trustees and students. Management monitors and enforces this policy by observation.”

Form 990, Part VI, Section B, Line 15

“The college uses several factors to determine compensation for officers and key emloyees. The college uses an independent search firm for the selection of president of the college, along with a search committee selected by the board of trustees. The officers of the college consist of the president and vice president cabinet members. The trustees of the college determine the president's salary. The president of the college determines the salary of all vice presidents. The college uses salary surveys, comparable data from our peer institutions, and years of experience when determining compensation ranges.”

Form 990, Part VI, Section C, Line 18

“The organization makes its form 1023 and 990 available upon request.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Illinois College
EIN
37-0661211
Phone
2172453003
Address
1101 WEST COLLEGE AVENUE, JACKSONVILLE, IL 62650-2299

Signing Officer

Name
Kent Siltman
Title
VP of Business Affairs & CFO
Phone
2172453003
Signed
2026-02-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kent Siltman
Formed
1835
Legal Domicile
Il
Voting Board Members
24
Independent Board Members
24
Employees
773
Volunteers
15

Preparer

Firm
Sikich LLC
Address
3051 HOLLIS DRIVE 3RD FLOOR, SPRINGFIELD, IL 62704
Preparer
Kurt N Walcutt
Phone
2177933363
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Change in value split interest trusts -115.”

Financial Statement Notes

PART V, LINE 4:

“The college has the following donor restricted endowment funds: general institutional support, scholarship support, educational program support, academic award support, building and maintenance support and loan fund support.”

PART X, LINE 2:

“The college has a tax determination letter from the internal revenue service (irs) stating it qualifies under the provisions of section 501(c)(3) of the internal revenue code and is exempt from federal income taxes. The college is not classified as a private foundation. As such, the college is subject to federal income taxes only on any net unrelated business income under the provisions of section 511 of the internal revenue code. The college files various federal or state non-profit tax returns. The college is no longer subject to u.s. Federal or state examinations by tax authorities for tax years prior to 2021.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Scholarships 19,963,296. Change in value split interest agreements 115. Fundraising expenses -13,887. Retirement program 460,000.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Scholarships 19,963,296. Fundraising expenses -13,887. Retirement program 460,000.”

Raw XML AppendixShowing 400 of 1,083 raw XML fields

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/TitleTxt28ASSOCIATE VP OF FINANCE &
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