Galesburg Community Foundation

Nonprofit profile at a glance

EIN
371159944
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Galesburg, IL, USA
Phone
3093448898
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Philanthropy, Voluntarism, and Grantmaking Foundations N.E.C.

Official website

Reported finances

Revenue
$7,540,349
Expenses
$4,610,366
Assets
$58,883,728
Liabilities
$8,288,597

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

12 people listed

Highest reported compensation

  • JOSHUA GIBB (CHIEF EXEC O): $246,071 total reported compensation
  • SHAWN HEDDEN (DIRECTOR OF): $126,794 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The galesburg community foundation works to improve the quality and health of our communities. We believe that connectiing people to the causes they care abour is a key ingredient to effective philanthropy.

What it reported doing in 2025

Provide competitive grant making to nonprofits whose programs engage and better the community they serve.

Operating model

Revenue model
Donor-supported. 78% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 80% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and some related-organization disclosures are missing.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 72
  • Accountability: 95
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.2%; rating input score 59
  • Program expense ratio: 77%; rating input score 77
  • Fundraising efficiency: $21.53 raised per $1 spent on fundraising; rating input score 61; 61st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 14th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.1%; rating input score 98; 40th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 38.9%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 12.77; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 8.1%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 13.1% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 12.1% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 10.7% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 59.2% of revenue deployed · 77% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.6M in reported program spending
  • Leadership: top reported pay $246K · 12 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 32 of 33 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 97 filed money-flow records
  • Related organizations: 95 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 59/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.