Civic Intelligence

Arcola Foundation

990 • Fiscal year 2016 • EIN 37-0999945

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 14, 2017

127 S Oak StreetArcola, IL 61910

(217) 268-4911

Siviq Scores

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

Liabilities / Assets

6th percentile

0.00x

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

6th percentile

0.00x

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

11th percentile

-29%

Higher net margin than 11% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Assets

$6,647,262

No earlier filing loaded for comparison.

Net Assets

$6,647,262

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue

$267,910

No earlier filing loaded for comparison.

Expenses

$344,795

No earlier filing loaded for comparison.

Net Income

-$76,885

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2016: $6,647,262Liabilities 2016: $0Net Assets 2016: $6,647,2622016Assets 2017: $6,384,675Liabilities 2017: $0Net Assets 2017: $6,384,6752017Assets 2018: $5,952,125Liabilities 2018: $0Net Assets 2018: $5,952,1252018Assets 2019: $6,116,332Liabilities 2019: $0Net Assets 2019: $6,116,3322019Assets 2020: $6,152,448Liabilities 2020: $0Net Assets 2020: $6,152,4482020Assets 2021: $6,200,402Liabilities 2021: $0Net Assets 2021: $6,200,4022021Assets 2022: $6,110,777Liabilities 2022: $0Net Assets 2022: $6,110,7772022Assets 2023: $6,147,002Liabilities 2023: $0Net Assets 2023: $6,147,0022023Assets 2024: $6,312,377Liabilities 2024: $0Net Assets 2024: $6,312,3772024

Highlighted filing

2016

Assets$6,647,262
Liabilities$0
Net Assets$6,647,262

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2016: $267,910Expenses 2016: $344,795Net Income 2016: -$76,8852016Revenue 2017: $211,907Expenses 2017: $408,539Net Income 2017: -$196,6322017Revenue 2018: $347,657Expenses 2018: $204,337Net Income 2018: $143,3202018Revenue 2019: $255,078Expenses 2019: $223,191Net Income 2019: $31,8872019Revenue 2020: $236,446Expenses 2020: $226,573Net Income 2020: $9,8732020Revenue 2021: $233,428Expenses 2021: $174,183Net Income 2021: $59,2452021Revenue 2022: $377,881Expenses 2022: $294,680Net Income 2022: $83,2012022Revenue 2023: $284,444Expenses 2023: $239,950Net Income 2023: $44,4942023Revenue 2024: $382,110Expenses 2024: $276,448Net Income 2024: $105,6622024

Highlighted filing

2016

Revenue$267,910
Expenses$344,795
Net Income-$76,885
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 14, 2017
Return Version
2015v3.0
Gross Receipts
$269,243
Mission and Program Overview

Mission

Provide scholarships and grant assistance to individuals and city or arcola organizations

Provide scholarships and grant assistance to individuals and city of arcola organizations

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,813,581$3,902,174▲ $88,593
Savings and Temporary Cash Investments$2,776,283$2,631,196▼ $145,087
Other Notes and Loans Receivable, Net$28,866$34,415▲ $5,549
Investments Other Securities$16,908$16,165▼ $743
Land, Buildings, and Equipment, Net$337$112▼ $225
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$6,635,975$6,647,262▲ $11,287
Other Assets Total-$63,200-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$3,845,647$3,895,907▲ $50,260
Temporarily Rstr Net Assets$2,790,328$2,751,355▼ $38,973
Total Net Assets Fund Balance$6,635,975$6,647,262▲ $11,287
Total Liabilities and Net Assets / Fund Balance$6,635,975$6,647,262▲ $11,287

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$112$1,009$1,121
Compensation and Service Providers

Board Members and Trustees

NameTitle
Aaron DamlerChairman
Eric HeadrickVice Chairman
Brian BlaggDirector
Dr Robert ArrolDirector
Jb HelmuthDirector
Linda RankinDirector
Mark SpainhourDirector
Dale BoyerTrustee
Lynn MillerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$97,023
Program Service Revenue
$49
Investment Income
$170,838
Other Revenue
$0
All Other Contributions
$97,023
Change in Net Assets
$-76,885

Audited Revenue Reconciliation

Revenue per Audited Statements
$267,910
Revenue Not Reported on Form 990
$88,172
Total Revenue per Audited Statements
$356,082
Total Revenue per Form 990
$267,910
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$331,335
Other Expenses$13,460
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$306,848--$306,848
Grants to Domestic Individuals$24,487--$24,487
Fees for Services Accounting-$4,500-$4,500
Insurance-$4,301-$4,301
Advertising-$901-$901
Office Expenses-$775-$775
Depreciation Depletion-$225-$225
Other Expenses-$42-$42
Total Functional Expenses$331,335$13,460$0$344,795

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$344,795
Total Expenses per Audited Statements$344,795
Total Expenses per Form 990$344,795
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Arcola Community Unit SchoolArcola, ILLocal GovtComputer Equipment$150,401
Arcola Community Unit School District 30Arcola, ILLocal GovtNew School Addition$67,000
City of ArcolaArcola, ILLocal GovtSupport the Arcola Center/other$33,000
Arcola Chamber of CommerceArcola, IL501(c)6Promote Tourism for Town$30,000
Arcola Fire Protection DistArcola, ILLocal GovtNew Fire Station$10,000
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
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
No
Backup withholding compliance
Yes
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, Line 11B: Form 990 Review Process

A copy of form 990 provided to full board for review prior to filing.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Organization has no formal policy for disclosure of governing documents, policies, and financial statements. The board would review requests made by public and approve disclosure on a case by case basis.

Filing and Contact Details

Filer

Filer Name
Arcola Foundation
EIN
37-0999945
Phone
2172684911
Address
127 S OAK STREET, ARCOLA, IL 61910

Signing Officer

Name
Mark Spainhour
Title
Chairman
Signed
2017-02-14
Discuss with paid preparer
Yes

Organization Details

Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
8

Preparer

Firm
Gilbert Metzger & Madigan LLP
Address
6029 Park Drive Ste A, Charleston, IL 61920
Preparer
Joyce A Madigan
Phone
2173452128
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

Arcola Foundation accounts for uncertainty in income taxes in accordance with FASB ASC 740-10. FASB ASC 740-10 provides detailed guidance for the financial statement recognition, measurement, and disclosure of uncertain tax positions. Arcola Foundation files informational returns in the U.S. federal and State of Illinois jurisdictions. The organization's federal and state informational tax returns are subject to possible examination. In general, these returns have a three year statutes of limitations. Arcola Foundation is not currently subject to an examination of the organization's returns by any of these tax authorities. As of June 30, 2016, Arcola Foundation has no unrecognized tax benefits.

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IRS990/ProgSrvcAccomActy2Grp/Desc0SCHOLARSHIPS TO ARCOLA AREA STUDENTS FOR HIGHER EDUCATION EXPENSES
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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt02631196
IRS990ScheduleA/CommunityTrustInd0X
IRS990ScheduleA/FactsAndCircumstancesTestTxt0Prior Year Facts and Circumstances: As a community foundation, the organization receives gifts from a large donor base. In addition, if the amount of large gifts had been included the public support percentage would have been 66.70%.
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt097023
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0342420
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0101040
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IRS990ScheduleA/PublicSupportCY170Pct00.29380
IRS990ScheduleA/PublicSupportPY170Pct00.27060
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IRS990ScheduleA/SubstantialContributorsTotAmt0936116
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01673352
IRS990ScheduleA/TotalSupportAmt02508926
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IRS990ScheduleD/RevenueSubtotalAmt0267910
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Arcola Foundation accounts for uncertainty in income taxes in accordance with FASB ASC 740-10. FASB ASC 740-10 provides detailed guidance for the financial statement recognition, measurement, and disclosure of uncertain tax positions. Arcola Foundation files informational returns in the U.S. federal and State of Illinois jurisdictions. The organization's federal and state informational tax returns are subject to possible examination. In general, these returns have a three year statutes of limitations. Arcola Foundation is not currently subject to an examination of the organization's returns by any of these tax authorities. As of June 30, 2016, Arcola Foundation has no unrecognized tax benefits.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
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IRS990ScheduleI/RecipientTable/CashGrantAmt433000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)6
IRS990ScheduleI/RecipientTable/IRCSectionDesc1LOCAL GOVT
IRS990ScheduleI/RecipientTable/IRCSectionDesc2LOCAL GOVT
IRS990ScheduleI/RecipientTable/IRCSectionDesc3LOCAL GOVT
IRS990ScheduleI/RecipientTable/IRCSectionDesc4LOCAL GOVT
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IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt40
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0PROMOTE TOURISM FOR TOWN
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1COMPUTER EQUIPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2NEW SCHOOL ADDITION
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3NEW FIRE STATION
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4SUPPORT THE ARCOLA CENTER/OTHER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ARCOLA CHAMBER OF COMMERCE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1ARCOLA COMMUNITY UNIT SCHOOL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2ARCOLA COMMUNITY UNIT SCHOOL DISTRICT 30
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3ARCOLA FIRE PROTECTION DIST
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4CITY OF ARCOLA
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1351 W WASHINGTON
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2351 W WASHINGTON
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3117 W MAIN STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4114 N LOCUST ST
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ARCOLA
IRS990ScheduleI/RecipientTable/USAddress/CityNm1ARCOLA
IRS990ScheduleI/RecipientTable/USAddress/CityNm2ARCOLA

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