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Nonprofiteer
← LAKE LAND COLLEGE FOUNDATION INC

Form 990 for tax year 2023

Filed by LAKE LAND COLLEGE FOUNDATION INC.

Totals

Total revenue
$1,673,676
Total expenses
$1,778,105
Contributions and grants received
$954,788
Grants paid
$687,282
Program service revenue
$0
Investment income
$541,883
Other revenue
$177,005
Total assets, end of year
$18,008,235
Total liabilities, end of year
$394,355
Net assets or fund balances, end of year
$17,613,880
Program services expenses (Part IX)
$1,309,354
Management and general expenses
$346,344
Fundraising expenses
$122,407
Program service expenses (Part III)
$1,309,354

Program services were 73.6% 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.

  • 1c · Fundraising events

    $60,260

  • 1f · All other contributions, gifts and grants

    $894,528

  • 1g · Noncash contributions included above

    $228,349

  • 3 · Investment income

    total $383,282 · excluded $383,282

  • 6a · Gross rents

    real property $43,660

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $43,660

  • 6d · Net rental income or loss

    total $43,660 · excluded $43,660

  • 7a · Gross sales of assets other than inventory

    securities $799,488

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

    securities $640,887

  • 7c · Gain or loss

    securities $158,601

  • 7d · Net gain or loss

    total $158,601 · excluded $158,601

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $60,260

  • 8b · Fundraising events: direct expenses

    $10,932

  • 8c · Net income from fundraising events

    total -$10,932 · excluded -$10,932

  • 11a · Other revenue: FARM INCOME

    total $144,277 · excluded $144,277

  • 11e · Other revenue, total

    $144,277

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $687,282 · program services $687,282

  • 7 · Other salaries and wages

    total $233,611 · program services $58,403 · management and general $116,805 · fundraising $58,403

  • 11c · Fees: accounting

    total $13,765 · management and general $13,765

  • 16 · Occupancy

    total $1,616 · management and general $1,616

  • 17 · Travel

    total $16,956 · management and general $16,956

  • 22 · Depreciation, depletion and amortization

    total $19,271 · management and general $19,271

  • 24a · Other expenses: DONATIONS TO LAKE LAND

    total $562,673 · program services $562,673

  • 24b · Other expenses: SUPPLIES

    total $97,404 · program services $817 · management and general $96,587

  • 24c · Other expenses: OTHER

    total $64,183 · program services $179 · fundraising $64,004

  • 24d · Other expenses: FARM EXPENSES

    total $63,720 · management and general $63,720

  • 24e · All other expenses

    total $17,624 · management and general $17,624

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $244,869 · end of year $210,887

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

    $3,364,658

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

    $323,997

  • 10c · Land, buildings and equipment, net

    beginning of year $3,059,932 · end of year $3,040,661

  • 11 · Investments: publicly traded securities

    beginning of year $14,037,448 · end of year $14,756,687

  • 25 · Other liabilities

    beginning of year $602,211 · end of year $394,355

  • 27 · Net assets without donor restrictions

    beginning of year $2,314,089 · end of year $2,277,880

  • 28 · Net assets with donor restrictions

    beginning of year $14,425,949 · end of year $15,336,000

Mission and programs · 2023

Mission

LAKE LAND COLLEGE FOUNDATION WAS ESTABLISHED TO ASSIST LAKE LAND COLLEGE IN DEVELOPING AND ENHANCING THE EDUCATION OPPORTUNITIES AND SERVICES TO ITS STUDENTS, ALUMNI, AND CITIZENS OF THE DISTRICT. THE MISSION OF THE FOUNDATION IS TO PROVIDE STUDENT SCHOLARSHIPS THROUGH FUNDS CONTRIBUTED BY INDIVIDUALS, AGENCIES, AND CORPORATIONS.

Activities or mission (Part I)

LAKE LAND COLLEGE FOUNDATION WAS ESTABLISHED TO ASSIST LAKE LAND COLLEGE IN DEVELOPING AND ENHANCING THE EDUCATIONAL OPPORTUNITIES AND SERVICES TO ITS STUDENTS, ALUMNI, AND CITIZENS OF THE DISTRICT. THE MISSION OF THE FOUNDATION IS TO PROVIDE STUDENT SCHOLARSHIPS THROUGH FUNDS CONTRIBUTED BY INDIVIDUALS, AGENCIES AND CORPORATIONS.

  • THE LAKE LAND COLLEGE FOUNDATION WAS ORGANIZED AND OPERATES EXCLUSIVELY FOR EDUCATION AND CHARITABLE PURPOSES DESIGNED TO PROMOTE THE WELFARE OF LAKE LAND COLLEGE, MATTOON, ILLINOIS, AND ITS STUDENTS. THE MAJOR THRUST OF THE FOUNDATION IS TO PROVIDE SCHOLARSHIPS TO LAKE LAND COLLEGE STUDENTS. DURING THE PAST YEAR, THROUGH THE GENEROUS DONATIONS OF AREA INDIVIDUALS, BUSINESSES, AND ORGANIZATIONS, THE FOUNDATION AWARDED $687,282 IN SCHOLARSHIPS TO ABOUT 1,000 DESERVING STUDENTS. THESE SCHOLARSHIPS VARY IN AMOUNTS AWARDED AND CRITERIA. FIRST ACCOMPLISHMENT FOR AWARDING IS BASED ON THE DONOR'S WISHES AND/OR GUIDELINES ESTABLISHED BY THE LAKE LAND COLLEGE FOUNDATION BOARD OF DIRECTORS. DONORS WHO REACH A SPECIFIED LEVEL OF LIFETIME GIVING ARE RECOGNIZED ON AN ANNUAL BASIS AND ALSO HAVE THE OPPORTUNITY TO MEET THEIR SCHOLARSHIP RECIPIENT(S) AT AN ANNUAL RECEPTION.DONORS REPRESENT A DIVERSE BACKGROUND FROM THE 4,000 SQUARE MILE DISTRICT. MANY DONORS HAVE BEEN DEDICATED TO HELPING STUDENTS FOR MORE THAN TWO DECADES. THEY BELIEVE IN THE COMMUNITY COLLEGE AND ARE COMMITTED TO ENSURING THAT THE REGION HAS A TRAINED WORKFORCE TO MEET THE NEEDS OF LOCAL BUSINESS AND INDUSTRY. DONORS ARE ALSO EXPANDING THEIR SUPPORT BY PROVIDING ADDITIONAL RESOURCES FOR THE UNMET FINANCIAL NEEDS OF THE COLLEGE DUE TO DECLINING STATE SUPPORT AND A SLUGGISH LOCAL PROPERTY TAX BASE.OTHER FOUNDATION ACTIVITIES INCLUDE AN ANNUAL GOLF OUTING WHICH RAISES MONIES THAT ARE USED FOR THE OPERATIONS OF THE FOUNDATION. VOLUNTEEERS AND GOLFERS FROM THROUGHOUT THE DISTRICT RETURN EACH YEAR TO HELP PLAN AND SUPPORT THE GOLF OUTING.

    Expenses $1,309,354 · Grants $687,282

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Amanda Martin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Angela Dyer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Austin Frank

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Blake Pierce

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Deacon Patient

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Debra Sandercock

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Denise Bence

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kathleen Anderson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kellie Eastham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Larry Blackerby

    DONOR RELATIONS COMM CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Linda Von Behren

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Meg Yargus Steward

    FINANCE & INVESTMENT CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Micah Dickens

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Renee Huckstead

    VICE PRES, BOARD DEV CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Richard Hartke

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Robert Payton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rudy Huber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thomas White

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Tyler Micenheimer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Christi Donsbach

    EXECUTIVE DIRECTOR

    Total calculated
    $130,751
    From this org
    $0
    From related orgs
    $102,562
    Other
    $28,189
    Hours/week
    40

  • Madge Shoot

    TREASURER

    Total calculated
    $119,067
    From this org
    $0
    From related orgs
    $107,477
    Other
    $11,590
    Hours/week
    2 + 38 related

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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • LAKE LAND COLLEGE

    GOVERNMENTAL UNIT · EDUCATION · IL

Provenance

Return type
form_990
Tax year
2023
Filed
29 October 2024
IRS schema version
2023v5.1
Source object
202413099349302521

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