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Nonprofiteer
← GALESBURG COMMUNITY FOUNDATION

Form 990 for tax year 2024

Filed by GALESBURG COMMUNITY FOUNDATION.

Totals

Total revenue
$5,772,670
Total expenses
$5,197,599
Contributions and grants received
$3,605,425
Grants paid
$3,621,765
Program service revenue
$174,518
Investment income
$1,688,870
Other revenue
$303,857
Total assets, end of year
$50,345,572
Total liabilities, end of year
$5,422,010
Net assets or fund balances, end of year
$44,923,562
Program services expenses (Part IX)
$4,180,543
Management and general expenses
$796,321
Fundraising expenses
$220,735
Program service expenses (Part III)
$4,180,543

Program services were 80.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • JOSHUA GIBB

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $204,315
    From this org
    $177,970
    From related orgs
    $0
    Other
    $26,345
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,970
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $26,345
    Filer's total
    $204,315

  • SHAWN HEDDEN

    DIRECTOR OF FINANCE & OPERATIONS

    Total calculated
    $119,688
    From this org
    $105,008
    From related orgs
    $0
    Other
    $14,680
    Hours/week
    40

  • DR SUBBIA JAGANNATHAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CYNTHIA STOERZBACH

    BOARD MEMEBER

    Total calculated
    $0
    Hours/week
    1

  • DUSTIN COURSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JAMIE YEMM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHAD LONG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DR ADAM WELTY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CAROL SHAW

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • DR JOHN MCCLEAN

    PAST CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • DAVID ERICKSON

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • LISA GAVIN

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • DR BRIAN PLATTNER

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Approval by the board or compensation committee

Answered no

  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • SEE ATTACHMENT OF

    $1,987,576

    TO FINANCIALLY ASSIST ORGS IN COMMUNITY

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.

Provenance

Return type
form_990
Tax year
2024
Filed
5 May 2025
IRS schema version
2024v5.1
Source object
202521259349301757

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