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Wethersfield School Academic Foundation FY2024 filing

Tax-deductible

Kewanee, IL501(c)(3)EducationEIN 26-2801522Revenue $53K in FY2024

On file with the IRS439 Willard St, 61443-3717 · Kewanee, ILTax-exempt since Aug 2014Publicly supported charity — 170(b)(1)(A)(vi)

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The Foundation is designed to enhance the educational opportunities within Wethersfield community unit School district no 230.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $34K a year · 40% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
51 mo
of spending, in cash
Looks good: 51.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $13K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$53K
-54% vs prior year
Spent
$46K
To programs
100%
Net assets
$563K
By yearFY2021–FY2025
Revenue
$53K
FY2024▼ -54%
Tap a bar for its year
Revenue by fiscal year
FY2021$66K
FY2022$157K
FY2023$114K
FY2024$53K
FY2025$44K
Expenses
$46K
FY2024▲ +37%
Tap a bar for its year
Expenses by fiscal year
FY2021$81K
FY2022$68K
FY2023$34K
FY2024$46K
FY2025$34K
Net assets
$563K
FY2024▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2021$387K
FY2022$476K
FY2023$556K
FY2024$563K
FY2025$573K

From the FY2024 Form 990 (year ending June 2024) · see the original

990 PDF Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Exemption reinstated (2012-11-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Aug 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $46K Management & general 0% · $128

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Shane Kazubowski
Assist Vice
$0Pt VII · Sec A
Jon Looney
President
$0Pt VII · Sec A
Angie Ryan
Secretary
$0Pt VII · Sec A
Melissa Smith
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Wethersfield School Academic Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Enhances educational opportunities for students in Wethersfield Community Unit School District.

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Provided by the organization

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1 program · $46K · in their own filed words · FY2023
01

The primary purpose of the foundation is to issue grants and scholarships to and for the benefit of wethersfield community unit school district no 230.

$46Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Quad Cities Community FoundationFY2024$13K
Total grants receivedfrom 1 funder$13K
Grants paid · 5 grants · $258K · 2020–2024
Wethersfield Cusd 230FY2024$31,393
Wethersfield Cusd 230FY2023$46,000
Wethersfield Cusd 230FY2022$33,031
Wethersfield Cusd 230FY2021$67,500
Wethersfield Cusd 230FY2020$80,498

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$53K
Ln 12
Gifts and grantsLn 1h$40K
Investment incomeLn 3$13K
Money outPt IX
$46K
Ln 25
Programscol B$46K
Managementcol C$128
Owns and owesPt X
$563K
net assets · Ln 32
Cash and savingsLn 1–2$197K
Total assetsLn 16$563K
LiabilitiesLn 26$0
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$40K
Investment incomeLn 3$13K
Total revenueLn 12$53K
Assets in detailPt X, end of year
CashLn 1$1
SavingsLn 2$197K
Cash and savings togetherLn 1–2$197K
InvestmentsLn 11–13$366K
Total assetsLn 16$563K
LiabilitiesLn 26$0
Net assetsLn 32$563K
OperationsPt I, VI
EmployeesI 50
VolunteersI 616
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$189K$197K
InvestmentsLn 11–13$367K$366K
Total assetsLn 16$556K$563K
LiabilitiesLn 26$0$0
Net assetsLn 32$556K$563K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$46K$46K
Other expenses (24a–d)Ln 24$128$128
Total functional expensesLn 25$46K$46K$128$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $44K$34K$10K$573K 990 PDF
FY2024 Viewing $53K$46K$7K$563K 990 PDF
FY2023 $114K$34K$81K$556K 990 PDF
FY2022 $157K$68K$89K$476K 990 PDF
FY2021 $66K$81K−$15K$387K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $52,823 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $102,136$40,155
I-9 Program service revenue$0
I-10 Investment incomePrior year $12,131$12,668
I-11 Other revenue$0
I-12 Total revenuePrior year $114,267$52,823
I-13 Grants and similar amounts paidPrior year $33,031$46,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $603$128
I-18 Total expensesPrior year $33,634$46,128
I-19 Revenue less expensesPrior year $80,633$6,695
Part VI · Governance 6 of 6 board members independent, 2 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-12a Written conflict of interest policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $52,823 across 4 lines filed
VIII-1f All other contributions, gifts and grants$40,155
VIII-1h Total contributions, gifts and grants$40,155
VIII-3 Investment incomeExcluded from tax $12,668$12,668
VIII-12 Total revenueExcluded from tax $12,668$52,823
Part IX · Statement of functional expenses $46,128 across 2 lines filed
IX-1 Grants to domestic organizationsPrograms $46,000$46,000
IX-24 Other expenses (24a–d)Management $128$128
IX-25 Total functional expensesPrograms $46,000 · Management $128 · Fundraising $0$46,128
Part X · Balance sheet $562,955 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $1$1
X-2 Savings and temporary cash investmentsStart of year $188,970$197,369
X-11 Publicly traded securitiesStart of year $367,289$365,585
X-16 Total assetsStart of year $556,260$562,955
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $556,260$562,955
X-32 Total net assets or fund balancesStart of year $556,260$562,955
X-33 Total liabilities and net assetsStart of year $556,260$562,955
Part XI · Reconciliation of net assets $562,955 net assets at year end
XI-1 Total revenue$52,823
XI-2 Total expenses$46,128
XI-3 Revenue less expenses$6,695
XI-4 Net assets at start of year$556,260
XI-10 Net assets at end of year$562,955

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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