Civic Intelligence

Spoon River College Foundation

990 • Fiscal year 2019 • EIN 37-1068663

Jul 01, 2018 to Jun 30, 2019 • Filed on Feb 21, 2020

Organization ProfileWWW.SRC.EDU/FOUNDATION
23235 N County Highway 22Canton, IL 61520

(309) 649-6395

Siviq Scores

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

Liabilities / Assets

19th percentile

0.00x

Higher debt load relative to assets than 19% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

26th percentile

0.02x

Higher debt load relative to revenue than 26% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

94th percentile

62%

Higher net margin than 94% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

77th percentile

$124,913

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 34.5% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

61st percentile

7.0%

Faster asset growth than 61% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

15th percentile

-18%

Faster revenue growth than 15% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets19th percentile

Assets

Up

$4,176,969

Up $271,485 (+7.0%) from 2018

Net Assets

Up

$4,171,077

Up $280,279 (+7.2%) from 2018

Liabilities

Down

$5,892

Down $8,794 (-60%) from 2018

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin94th percentile

Revenue

Down

$362,080

Down $80,950 (-18%) from 2018

Expenses

Down

$138,483

Down $121,644 (-47%) from 2018

Net Income

Up

$223,597

Up $40,694 (+22%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2016: $3,316,361Liabilities 2016: $1,136Net Assets 2016: $3,315,2252016Assets 2017: $3,691,596Liabilities 2017: $18,658Net Assets 2017: $3,672,9382017Assets 2018: $3,905,484Liabilities 2018: $14,686Net Assets 2018: $3,890,7982018Assets 2019: $4,176,969Liabilities 2019: $5,892Net Assets 2019: $4,171,0772019Assets 2020: $4,473,448Liabilities 2020: $20,752Net Assets 2020: $4,452,6962020Assets 2021: $5,661,518Liabilities 2021: $28,145Net Assets 2021: $5,633,3732021Assets 2022: $5,657,516Liabilities 2022: $55,934Net Assets 2022: $5,601,5822022Assets 2023: $6,319,984Liabilities 2023: $177,670Net Assets 2023: $6,142,3142023Assets 2024: $7,353,979Liabilities 2024: $199,031Net Assets 2024: $7,154,9482024Assets 2025: $7,850,257Liabilities 2025: $90,182Net Assets 2025: $7,760,0752025

Highlighted filing

2019

Assets$4,176,969
Liabilities$5,892
Net Assets$4,171,077
Open 2019 Filing

Operations Trend

Revenue Growth15th percentile

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

$1.5M$1.0M$500K$0Revenue 2016: $312,084Expenses 2016: $129,349Net Income 2016: $182,7352016Revenue 2017: $458,714Expenses 2017: $178,133Net Income 2017: $280,5812017Revenue 2018: $443,030Expenses 2018: $260,127Net Income 2018: $182,9032018Revenue 2019: $362,080Expenses 2019: $138,483Net Income 2019: $223,5972019Revenue 2020: $498,674Expenses 2020: $238,089Net Income 2020: $260,5852020Revenue 2021: $879,929Expenses 2021: $297,648Net Income 2021: $582,2812021Revenue 2022: $1,123,754Expenses 2022: $345,921Net Income 2022: $777,8332022Revenue 2023: $778,957Expenses 2023: $380,249Net Income 2023: $398,7082023Revenue 2024: $1,152,161Expenses 2024: $455,099Net Income 2024: $697,0622024Revenue 2025: $613,570Expenses 2025: $442,625Net Income 2025: $170,9452025

Highlighted filing

2019

Revenue$362,080
Expenses$138,483
Net Income$223,597
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Feb 21, 2020
Return Version
2018v3.1
Gross Receipts
$419,691
Mission and Program Overview

Mission

Supporting the general welfare of spoon river college by solicitation and receipt of grants, endowments and other funds and the allocation of these funds to the college and its students for educational, service, capital and other institutional needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,372,879$2,804,118▲ $431,239
Cash and Non-Interest-Bearing Accounts$671,471$490,340▼ $181,131
Land, Buildings, and Equipment, Net$40,000$40,000→ $0
Accounts Receivable$12,632$18,299▲ $5,667
Total Assets$3,905,484$4,176,969▲ $271,485
Other Assets Total$808,502$824,212▲ $15,710
Liabilities
Accounts Payable and Accrued Expenses$14,686$5,892▼ $8,794
Total Liabilities$14,686$5,892▼ $8,794
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,557,834$2,608,546▲ $50,712
Temporarily Rstr Net Assets$1,202,565$1,420,163▲ $217,598
Unrestricted Net Assets$130,399$142,368▲ $11,969
Total Net Assets Fund Balance$3,890,798$4,171,077▲ $280,279
Total Liabilities and Net Assets / Fund Balance$3,905,484$4,176,969▲ $271,485

Asset Categories

AssetBook ValueDepreciationBasis
Land$40,000-$40,000
Other Assets Org$824,212--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$2,566,746$116,445▲ $148,138$77,479$2,753,850
2017$2,364,293$140,069▲ $129,536$67,152$2,566,746
2016$2,126,780$109,500▲ $190,998$62,985$2,364,293
2015$2,045,166$120,544▲ $10,189$49,119$2,126,780
2014$1,424,496$84,677--$1,509,173
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleOtherTotal
Curt OldfieldSrc President$124,913$124,913

Board Members and Trustees

NameTitle
Mitchell CoonradtChair
Steve HopperVice Chair
Alan AchesonDirector
Brendan BaumanDirector
Bruce BealDirector
Dan VoorhisDirector
Nicholas TinsmanDirector
Randy BellDirector
Renold BleemDirector
Sara PhippsDirector
Staci MayallDirector
Zachary MaherDirector
Phillip MurphyTrustee Representative
Denise KirganSecretary
Daryle ColemanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$283,486
Program Service Revenue
$0
Investment Income
$89,782
Other Revenue
$-11,188
All Other Contributions
$267,590
Change in Net Assets
$223,597

Audited Revenue Reconciliation

Revenue per Audited Statements
$419,691
Revenue Not Reported on Financial Statements
$-57,611
Revenue Not Reported on Form 990
$134,852
Other Revenue Adjustments
$-57,611
Total Revenue per Audited Statements
$554,543
Total Revenue per Form 990
$362,080
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$96,329
Other Expenses$42,154
Total Fundraising Expense$12,950
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$96,329--$96,329
Other Expenses$13,239$1,486$12,950$14,436
Total Functional Expenses$109,568$15,965$12,950$138,483

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$274,264
Expenses per Audited Statements$196,094
Total Expenses per Form 990$138,483
Expenses Not Reported on Form 990$78,170
Expenses Not Reported on Financial Statements$-57,611
Other Expense Adjustments$-57,611
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$57,611
Fundraising Gross Income$46,423
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$23,615$7,719$1,044$6,675
Total Events$62,319$46,423$57,611$-11,188
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 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 B, Line 11B

“Management reviewed the form 990 along with spoon river college finance staff. All board members will receive a final copy of the 990.”

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

“Every year board members complete the conflict of interest questionnaire. Any conflicts of interest noted at that time are discussed with the executive director and if material, the executive committee. Appropriate action will be taken based on the materiality and extent of conflict.”

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Spoon River College Foundation
EIN
37-1068663
Phone
3096496395
Address
23235 N COUNTY HIGHWAY 22, CANTON, IL 61520

Signing Officer

Name
J Colin Davis
Title
Foundation Director
Phone
3096496395
Signed
2020-02-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
J Colin Davis
Formed
1979
Legal Domicile
Il
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
0

Preparer

Firm
Wipfli Llp
Address
403 EAST THIRD STREET, STERLING, IL 61081
Preparer
Michelle L Heller
Phone
8156261277
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“No change from prior year”

Financial Statement Notes

PART V, LINE 4:

“TO PROVIDE SCHOLARSHIPS”

PART X, LINE 2:

“The foundation is a not-for-profit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code. The foundation files forms 990 (return of organization exempt from income tax) annually. When these returns are filled, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would ultimately be sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes that it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions are not offset or aggregated with other positions. Tax positions that meet the "more likely than not" recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely to be realized on settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying statements of financial position along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Forms 990 filed by the foundation are subject to examination by the internal revenue services (irs) up to three years from the extended due date of each return. Forms 990 filed by the foundation are no longer subject to examination for tax years before june 30, 2016.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“FUNDRAISING EXPENSES”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“FUNDRAISING EXPENSES”

Schedule D Part XI Line 4B

“Direct fundraising expenses”

Raw XML AppendixShowing 400 of 540 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/MissionDesc0SUPPORTING THE GENERAL WELFARE OF SPOON RIVER COLLEGE BY SOLICITATION AND RECEIPT OF GRANTS, ENDOWMENTS AND OTHER FUNDS AND THE ALLOCATION OF THESE FUNDS TO THE COLLEGE AND ITS STUDENTS FOR EDUCATIONAL, SERVICE, CAPITAL AND OTHER INSTITUTIONAL NEEDS.
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IRS990/PrincipalOfficerNm0J COLIN DAVIS
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IRS990/ProgSrvcAccomActy2Grp/Desc0INSTITUTIONAL SUPPORT REPRESENTS EXPENDITURES FOR EQUIPMENT AND EXPENSES TO HELP MEET THE INSTITUTIONAL NEEDS OF SPOON RIVER COLLEGE.
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt040000
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0BENEFICIAL INTEREST IN PERPETUAL TRUSTS
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IRS990ScheduleD/RevenueNotReportedAmt0134852
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-57611
IRS990ScheduleD/RevenueSubtotalAmt0419691
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE SCHOLARSHIPS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION FILES FORMS 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY. WHEN THESE RETURNS ARE FILLED, IT IS HIGHLY CERTAIN THAT SOME POSITIONS TAKEN WOULD BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHERS ARE SUBJECT TO UNCERTAINTY ABOUT THE MERITS OF THE POSITION TAKEN OR THE AMOUNT OF THE POSITION THAT WOULD ULTIMATELY BE SUSTAINED. THE BENEFIT OF A TAX POSITION IS RECOGNIZED IN THE FINANCIAL STATEMENTS IN THE PERIOD DURING WHICH, BASED ON ALL AVAILABLE EVIDENCE, MANAGEMENT BELIEVES THAT IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING THE RESOLUTION OF APPEALS OR LITIGATION PROCESSES, IF ANY. TAX POSITIONS ARE NOT OFFSET OR AGGREGATED WITH OTHER POSITIONS. TAX POSITIONS THAT MEET THE "MORE LIKELY THAN NOT" RECOGNITION THRESHOLD ARE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50% LIKELY TO BE REALIZED ON SETTLEMENT WITH THE APPLICABLE TAXING AUTHORITY. THE PORTION OF THE BENEFITS ASSOCIATED WITH TAX POSITIONS TAKEN THAT EXCEEDS THE AMOUNT MEASURED AS DESCRIBED ABOVE IS REFLECTED AS A LIABILITY FOR UNRECOGNIZED TAX BENEFITS IN THE ACCOMPANYING STATEMENTS OF FINANCIAL POSITION ALONG WITH ANY ASSOCIATED INTEREST AND PENALTIES THAT WOULD BE PAYABLE TO THE TAXING AUTHORITIES UPON EXAMINATION. FORMS 990 FILED BY THE FOUNDATION ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICES (IRS) UP TO THREE YEARS FROM THE EXTENDED DUE DATE OF EACH RETURN. FORMS 990 FILED BY THE FOUNDATION ARE NO LONGER SUBJECT TO EXAMINATION FOR TAX YEARS BEFORE JUNE 30, 2016.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3FUNDRAISING EXPENSES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4DIRECT FUNDRAISING EXPENSES
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4SCHEDULE D PART XI LINE 4B
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IRS990ScheduleI/GrantRecordsMaintainedInd00

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,176,969
Liabilities
$5,892
Net assets
$4,171,077
Revenue
$362,080
Expenses
$138,483
Net income
$223,597
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.85$0.09$7.76$0.61$0.44$0.17
2024Detailed filing. Detailed filing data is available for this year.$7.35$0.20$7.15$1.15$0.46$0.70
2023Detailed filing. Detailed filing data is available for this year.$6.32$0.18$6.14$0.78$0.38$0.40
2022Detailed filing. Detailed filing data is available for this year.$5.66$0.06$5.60$1.12$0.35$0.78
2021Detailed filing. Detailed filing data is available for this year.$5.66$0.03$5.63$0.88$0.30$0.58
2020Detailed filing. Detailed filing data is available for this year.$4.47$0.02$4.45$0.50$0.24$0.26
2019Detailed filing. Detailed filing data is available for this year.$4.18$0.01$4.17$0.36$0.14$0.22
2018Detailed filing. Detailed filing data is available for this year.$3.91$0.01$3.89$0.44$0.26$0.18
2017Detailed filing. Detailed filing data is available for this year.$3.69$0.02$3.67$0.46$0.18$0.28
2016Detailed filing. Detailed filing data is available for this year.$3.32$0.00$3.32$0.31$0.13$0.18