Civic Intelligence

Arcola Foundation

990 • Fiscal year 2017 • EIN 37-0999945

Jul 01, 2016 to Jun 30, 2017 • Filed on Mar 22, 2018

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

7th percentile

0.00x

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

7th percentile

0.00x

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

3rd percentile

-93%

Higher net margin than 3% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

18th percentile

-4.0%

Faster asset growth than 18% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

11th percentile

-21%

Faster revenue growth than 11% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Down

$6,384,675

Down $262,587 (-4.0%) from 2016

Net Assets

Down

$6,384,675

Down $262,587 (-4.0%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue

Down

$211,907

Down $56,003 (-21%) from 2016

Expenses

Up

$408,539

Up $63,744 (+18%) from 2016

Net Income

Down

-$196,632

Down $119,747 (-156%) from 2016

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

2017

Assets$6,384,675
Liabilities$0
Net Assets$6,384,675

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

2017

Revenue$211,907
Expenses$408,539
Net Income-$196,632
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Mar 22, 2018
Return Version
2016v3.0
Gross Receipts
$1,213,002
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$3,902,174$3,753,642▼ $148,532
Savings and Temporary Cash Investments$2,631,196$2,569,471▼ $61,725
Other Notes and Loans Receivable, Net$34,415$34,644▲ $229
Investments Other Securities$16,165$0▼ $16,165
Land, Buildings, and Equipment, Net$112$0▼ $112
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$6,647,262$6,384,675▼ $262,587
Other Assets Total$63,200$26,918▼ $36,282
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$3,895,907$3,801,081▼ $94,826
Temporarily Rstr Net Assets$2,751,355$2,583,594▼ $167,761
Total Net Assets Fund Balance$6,647,262$6,384,675▼ $262,587
Total Liabilities and Net Assets / Fund Balance$6,647,262$6,384,675▼ $262,587

Asset Categories

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

Board Members and Trustees

NameTitle
Mark SpainhourChairman
Dr Robert ArrolVice Chairman
Brian BlaggDirector
Eric HeadrickDirector
Jb HelmuthDirector
Linda RankinDirector
Melissa ConlinDirector
Dale BoyerTrustee
Lynn MillerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$67,421
Program Service Revenue
$29
Investment Income
$144,457
Other Revenue
$0
All Other Contributions
$67,421
Change in Net Assets
$-196,632

Audited Revenue Reconciliation

Revenue per Audited Statements
$211,907
Revenue Not Reported on Form 990
$-65,955
Total Revenue per Audited Statements
$145,952
Total Revenue per Form 990
$211,907
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$386,483
Other Expenses$22,056
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$361,630--$361,630
Grants to Domestic Individuals$24,853--$24,853
Insurance-$4,834-$4,834
Fees for Services Accounting-$4,665-$4,665
Fees for Services Legal-$1,272-$1,272
Advertising-$1,040-$1,040
Office Expenses-$803-$803
Other Expenses-$202-$202
Depreciation Depletion-$112-$112
Total Functional Expenses$386,483$22,056$0$408,539

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$408,539
Total Expenses per Audited Statements$408,539
Total Expenses per Form 990$408,539
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Arcola Community Unit SchoolArcola, IL-Computer Equipment$146,457
City of ArcolaArcola, IL-Raggedy Ann Sculpture$73,091
Arcola Community Unit School District 30Arcola, IL-New School Addition$62,000
Arcola Chamber of CommerceArcola, IL-Promote Tourism for Town$30,000
City of ArcolaArcola, IL-Support the Arcola Center/other$12,500
Arcola Fire Protection DistArcola, IL-New Fire Station$10,000
Eastern Illinois UniversityCharleston, IL-Television Segment About Arcola, Il$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
2018-03-22
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, 2017, 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/ProgSrvcAccomActy2Grp/RevenueAmt029
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IRS990/PYGrantsAndSimilarPaidAmt0331335
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IRS990/PYOtherExpensesAmt013460
IRS990/PYProgramServiceRevenueAmt049
IRS990/PYRevenuesLessExpensesAmt0-76885
IRS990/PYTotalExpensesAmt0344795
IRS990/PYTotalRevenueAmt0267910
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0832607
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IRS990ScheduleA/PublicSupportCY170Pct00.35640
IRS990ScheduleA/PublicSupportPY170Pct00.29380
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0101040
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0846189
IRS990ScheduleA/TotalSupportAmt01678796
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01121
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01121
IRS990ScheduleD/RevenueNotReportedAmt0-65955
IRS990ScheduleD/RevenueSubtotalAmt0211907
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, 2017, Arcola Foundation has no unrecognized tax benefits.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalRevenuePerForm990Amt0211907
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IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt50
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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/PurposeOfGrantTxt5RAGGEDY ANN SCULPTURE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6TELEVISION SEGMENT ABOUT ARCOLA, IL
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
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5CITY OF ARCOLA
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6EASTERN ILLINOIS UNIVERSITY
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0135 N OAK ST
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/AddressLine1Txt5114 N LOCUST ST
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt6600 LINCOLN AVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ARCOLA
IRS990ScheduleI/RecipientTable/USAddress/CityNm1ARCOLA

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