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Nonprofiteer
← FREEPORT COMMUNITY FOUNDATION

Form 990 for tax year 2023

Filed by FREEPORT COMMUNITY FOUNDATION.

Totals

Total revenue
$349,055
Total expenses
$492,147
Contributions and grants received
$200,365
Grants paid
$235,792
Program service revenue
$0
Investment income
$138,073
Other revenue
$10,617
Total assets, end of year
$5,520,488
Total liabilities, end of year
$237,473
Net assets or fund balances, end of year
$5,283,015
Program services expenses (Part IX)
$244,092
Management and general expenses
$244,943
Fundraising expenses
$3,112
Program service expenses (Part III)
$244,092

Program services were 49.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $200,365

  • 3 · Investment income

    total $164,850 · excluded $164,850

  • 7b · Less cost or other basis and sales expenses

    securities $26,777

  • 7c · Gain or loss

    securities -$26,777

  • 7d · Net gain or loss

    total -$26,777 · related or exempt -$26,777

  • 11a · Other revenue: MISC INCOME

    total $10,617 · related or exempt $10,617

  • 11e · Other revenue, total

    $10,617

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $235,792 · program services $235,792

  • 7 · Other salaries and wages

    total $124,540 · management and general $124,540

  • 10 · Payroll taxes

    total $10,358 · management and general $10,358

  • 11b · Fees: legal

    total $148 · management and general $148

  • 11c · Fees: accounting

    total $18,906 · management and general $18,906

  • 11f · Fees: investment management

    total $25,836 · management and general $25,836

  • 13 · Office expenses

    total $17,805 · management and general $17,805

  • 16 · Occupancy

    total $8,500 · management and general $8,500

  • 17 · Travel

    total $3,279 · management and general $3,279

  • 19 · Conferences, conventions and meetings

    total $3,772 · management and general $3,772

  • 23 · Insurance

    total $2,231 · management and general $2,231

  • 24a · Other expenses: MARKETING

    total $20,873 · management and general $20,873

  • 24b · Other expenses: ANNUITY PAYMENTS

    total $8,300 · program services $8,300

  • 24c · Other expenses: SUPPLIES

    total $4,327 · management and general $4,327

  • 24d · Other expenses: FUNDRAISING EXPENSE

    total $3,112 · fundraising $3,112

  • 24e · All other expenses

    total $4,368 · management and general $4,368

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $71,923 · end of year $225,949

  • 10a · Land, buildings and equipment: cost or other basis

    $9,256

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,256

  • 11 · Investments: publicly traded securities

    beginning of year $5,059,319 · end of year $5,294,539

  • 21 · Escrow or custodial account liability

    beginning of year $152,454 · end of year $183,984

  • 25 · Other liabilities

    beginning of year $42,915 · end of year $53,489

  • 27 · Net assets without donor restrictions

    beginning of year $4,487,786 · end of year $4,801,732

  • 28 · Net assets with donor restrictions

    beginning of year $448,087 · end of year $481,283

Mission and programs · 2023

Mission

TO HELP PROVIDE FOR THE WELL-BEING OF THE CITIZENS OF NORTHWEST ILLINOIS BY ACCUMULATING ASSETS IN THE FORM OF PERMANENT ENDOWMENT FUNDS & PRUDENTLY DISTRIBUTING INCOME FROM THOSE FUNDS TO CHARITABLE ORGANIZATIONS.

  • GRANTS TO LOCAL CHARITABLE ORGANIZATIONS TO HELP PROVIDE FOR THE WELL-BEING OF THE CITIZENS OF NORTHWEST ILLINOIS.

    Expenses $244,092 · Grants $235,792

As filed on the 2023 return.

Listed in Part VII

  • Michelle Dehaven Quast

    CEO

    Total calculated
    $0

  • Kim Rampenthal

    PRESIDENT

    Total calculated
    $0

  • Matt Moyer

    VICE PRESIDE

    Total calculated
    $0

  • Andrea Schultz Winter

    PAST PRESIDE

    Total calculated
    $0

  • Jenny Blocker

    TREASURER

    Total calculated
    $0

  • Bradley Stewart

    MEMBER

    Total calculated
    $0

  • Cindy Foley

    MEMBER

    Total calculated
    $0

  • Nick Grindey

    MEMBER

    Total calculated
    $0

  • Samantha Schaible

    MEMBER

    Total calculated
    $0

  • Yvette Sellers

    MEMBER

    Total calculated
    $0

  • Andrew Stewart

    MEMBER

    Total calculated
    $0

  • Judd Thruman

    MEMBER

    Total calculated
    $0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • MISC DISCRETIONARY ALLOCATIONS

    $235,792

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.0
Source object
202443279349301319

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