Illinois Central College Foundation

Nonprofit profile at a glance

EIN
371207827
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
East Peoria, IL, USA
Phone
3096945337
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$6,133,173
Expenses
$4,603,286
Assets
$45,269,321
Liabilities
$13,838,340

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

24 people listed

Executive titles in this filing

  • BRIAN JOHNSON (VICE PRESIDENT)
  • AARON KILGORE (PRESIDENT)
  • KATHY MA (PAST PRESIDENT)
  • DR SHEILA QUIRK-BAILEY (PRESIDENT - ICC)
  • STEPHANIE HOLMES (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DR SHEILA QUIRK-BAILEY (PRESIDENT - ICC): $355,099 total reported compensation
  • BRUCE BUDDE (CHIEF FINANCIAL OFFICER): $283,972 total reported compensation
  • MIKE UNES (VP OF INSTITUTIONAL ADVANCEMENT): $146,063 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The foundation is organized and operated exclusively for educational and charitable purposes and not for financial gain. It's primary goal is to obtain and administer funds for Illinois central college, district #514, east peoria, Illinois with the purpose of developing and augmenting its facilities and carrying out its educational functions.

What it reported doing in 2024

Miscellaneous support provided to Illinois central college for child care programs, athletic department expenses, international studies program, technical trades and instructional supplies.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 76% for direct work, 18% for grants, and 6% for affiliated organizations.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 71
  • Accountability: 86
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.8%; rating input score 92
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: 24.9%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 9.83; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 2%; rating input score 75; 75th percentile among comparable filings

Growth

  • Program expense growth: 2.4% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: 3.1% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 91.8% of revenue deployed · 100% of spending went to programs
  • Governance: 18 of 18 board members independent · 6 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $4.6M in reported program spending
  • Leadership: top reported pay $355K · 24 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 11 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • 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.

Key Signals

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

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.