Freeport Community Foundation EIN 30-0080762

Freeport Community Foundation

Not yet claimed Claim this org →

Builds endowments and distributes income to support Northwest Illinois charities. For fiscal year 2024 it reported $592K in revenue, $467K in expenses, and $5.7M in net assets.Pt I

Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Freeport, IL
Website
www.freeportcf.org
Filings
5 on file (2020–2024)
Revenue
$592KFY2024
Expenses
$467K
Net assets
$5.7M
People
11
Filings
5
Updates
0
More identity details & actions ⌄
EIN  30-0080762 Public foundation / grantmaker Freeport, IL
Form 990 (PDF)
Compare with another nonprofit →
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until Freeport Community Foundation claims this page.

Know this organization? Claim it to add your story

Size
$100K–1M
What they do
Builds endowments and distributes income to support Northwest Illinois charities.
Leadership
Money in and out
$592K revenue, $467K expenses
Bottom line
41% program efficiency
Grants paid & assets · FY2024
Total revenue
$592K
Pt VIII · Ln 12
Total expenses
$467K
Pt IX · Ln 25
Net assets
$5.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $124K
Where spending went · Part IX cols B–D
Program services $0.41 Management & general $0.59
Program efficiency
41%
of spending reaches programs▼ -17% vs prior filing year
Operating runway
148.7mo
months of highly liquid reserves at operating expense rate▲ +10% vs prior filing year
Surplus margin
+21%
revenue over expenses, this year▲ +151% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$592K
FY2024▲ +70%
Expenses
$467K
FY2024▼ -5%
Total assets
$5.8M
FY2024▲ +5%
Total liabilities
$53K
FY2024▼ -77%
Total revenue
$592K
Pt VIII · Ln 12
Total expenses
$467K
Pt IX · Ln 25
Net assets
$5.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$124K
Total assetsPt X · Ln 16$5.8M
Program-expense ratioPt IX · col B41%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410
Mission & Programs · Part III

Where the work happens

1 program service account for $192K of program spending, described in the organization's own filed words · FY2024.
01

Grants to local charitable organizations to help provide for the well-being of the citizens of northwest illinois.

$192Kprogram expense

Run this program? Claim this org to tell your story

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFreeport Community Foundation
EINHdr · item D30-0080762
Principal addressHdr · item CFreeport, IL
WebsiteHdr · item Jwww.freeportcf.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T30)
Ruling yearIRS BMFAug 2014

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Past Preside
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Freeport Community Foundation executive salaries →

Are you one of these people? Claim this org to confirm your role

Statement of Revenue

Part VIII
Contributions & grants$423K · 71%
Investment income$168K · 28%
Contributions & grants71%$423K
Investment income28%$168K
Other revenue$1K
Total revenueLn 12$592K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.41 Management & general $0.59
Program services41%$192K
Management & general59%$275K
Total functional expensesLn 25$467K

Balance Sheet

Part X · end of year
CashLn 1$647K
Total assetsLn 16$5.8M
Total liabilitiesLn 26$53K
Total net assetsLn 32$5.7M
Months of cash on handcomputed16.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $5.8M · Operating expenses/yr $467K
148.7 months
Where the money goes
Program services
Program services $192K · Total expenses $467K
41%
Management & General
Management & general $275K · Total expenses $467K
59%
Fundraising
Fundraising $0 · Total expenses $467K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $1K · Solicited contributions (3-yr avg) $245K
$0.00 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $423K · Total revenue $592K
71%
Government reliance
Government grants — · Total revenue $592K
Earned-income share
Program service revenue $0 · Total revenue $592K
0%
Investment reliance
Investment income $168K · Total revenue $592K
+28%
Program self-sufficiency
Program service revenue $0 · Total expenses $467K
0%
Growth & trend
Revenue growth (YoY)
This year $592K · Prior year $349K
+70%
Revenue CAGR
FY2020 $649K · FY2024 $592K
-2%
Net-asset trend (YoY)
End of year $5.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $592K · Expenses $467K
+21%
Liabilities-to-Assets
Total liabilities — · Total assets $5.8M
Net-asset ratio
Net assets $5.7M · Total assets $5.8M
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $5.1M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $5.8M
89%
People & payroll
Highest Reported Total Compensation
Individual Michelle Dehaven Quast · Reported title CEO · Highest reported compensation $0 · Total expenses $467K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $170K · Total expenses $467K
36%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 41%
Overhead ratio 59%
Fundraising cost ratio 0%
Revenue growth 70%
Investment management fee ratio 0.5%
Accounting fee ratio 4%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Grants paid · 44 grants · $1.6M · 2020–2024
Misc Discretionary AllocationsFY2024$183,748
Misc Discretionary AllocationsFY2023$235,792
Misc Discretionary AllocationsFY2022$252,747
Misc Discretionary AllocationsFY2022$252,747
Northern Illinois Food BankIL · FY2021$37,500
River Bend Food ReservoirIA · FY2021$25,000
Timber Lake PlayhouseIL · FY2021$18,500
Farmworker & Landscaper AdvocacyFY2021$15,000
Freeport Art MuseumFY2021$13,800
Senior Resource CenterFY2021$11,900
United Way of Northwest IlFY2021$10,800
Madonna RenewalFY2021$8,500
Voices of Stephenson CountyIL · FY2021$7,800
Northwest Home StartFY2021$7,500
Jdlf GivesFY2021$7,000
Malcolm Eaton EnterprisesIL · FY2021$6,890
RampFY2021$6,280
See all 44 grants →

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$592K revenue · viewing · ⤓ 990 PDF
FY2023$349K revenue · ⤓ 990 PDF
FY2022$297K revenue · ⤓ 990 PDF
FY2021$1.4M revenue · ⤓ 990 PDF
FY2020$649K revenue · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.