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Palestine Academic Foundation

Tax-deductible

Palestine, IL501(c)(3)Human ServicesEIN 37-1318472Revenue $30K in FY2024

On file with the IRSpalestinecusd3.net205 S Washington St, 62451-1060 · Palestine, ILTax-exempt since May 1994Publicly supported charity — 170(b)(1)(A)(vi)

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We are a non-profit organization that helps fund the 'over and above' education needs of Palestine District students. We strive to develop pride in the educational program at both Palestine Grade and High Schools among the people of the community. We also have a desire to provide unusual learning experiences, improve general academic resources, and establish a support system for those wanting to work on advanced academic projects. We strive to enhance communication between schools and community.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 8 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $139K a year · 85% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 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
32 mo
of spending, in cash
Looks good: 31.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $242
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
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$30K
+45% vs prior year
Spent
$22K
To programs
100%
Net assets
$623K
By yearFY2021–FY2024
Revenue
$30K
FY2024▲ +45%
Tap a bar for its year
Revenue by fiscal year
FY2021$577K
FY2022$23K
FY2023$21K
FY2024$30K
Expenses
$22K
FY2024▼ -34%
Tap a bar for its year
Expenses by fiscal year
FY2021$19K
FY2022$19K
FY2023$34K
FY2024$22K
Net assets
$623K
FY2024▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2021$623K
FY2022$627K
FY2023$614K
FY2024$623K

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

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1994.

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% · $22K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

15 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
$0Pt VII · Sec A
$0Pt VII · Sec A
Damien Tingley
Ex-Officio Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Palestine 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds extra educational needs and experiences for Palestine District students, fostering community pride.

Questions for Palestine Academic Foundation

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Provided by the organization

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2 programs · $18K · in their own filed words · FY2023
01

Administer Two Area Scholarships

funds distributed directly to the universities of the recipients. (Vincennes University $4,000, University of Illinois $2,000, Eastern Illinois University $4,000, Indiana State University $2,000)

$12Kprogram expense
02

District Teacher Requests

$6Kprogram 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 · FY2023
Amazonsmile FoundationFY2023$242
Total grants receivedfrom 1 funder$242
Grants paid · 4 grants · $35K · 2020–2023
Unitemized GrantFY2023$12,000
Unitemized GrantFY2022$6,000
Unitemized GrantFY2021$8,000
Unitemized GrantFY2020$9,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$30K
Ln 12
Investment incomeLn 3$17K
Other incomeLn 4–11$8K
Fees for servicesLn 2g$5K
Money outPt IX
$22K
Ln 25
Programscol B$22K
Owns and owesPt X
$623K
net assets · Ln 32
Cash and savingsLn 1–2$59K
Total assetsLn 16$623K
LiabilitiesLn 26$0
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$430
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$5K
Investment incomeLn 3$17K
Other incomeLn 4–11$8K
Total revenueLn 12$30K
Assets in detailPt X, end of year
SavingsLn 2$59K
Cash and savings togetherLn 1–2$59K
InvestmentsLn 11–13$561K
Total assetsLn 16$623K
LiabilitiesLn 26$0
Net assetsLn 32$623K
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderOctober
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$60K$59K
InvestmentsLn 11–13$550K$561K
Total assetsLn 16$614K$623K
LiabilitiesLn 26$0$0
Net assetsLn 32$614K$623K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$12K$12K
Investment management feesLn 11f$5K$5K$0$0
Office expensesLn 13$65$65$0$0
Other expenses (24a–d)Ln 24$6K$6K$0$0
Total functional expensesLn 25$22K$22K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $30K$22K$8K$623K 990 PDF
FY2023 $21K$34K−$13K$614K 990 PDF
FY2022 $23K$19K$4K$627K 990 PDF
FY2021 $577K$19K$558K$623K 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 $29,939 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,209$430
I-9 Program service revenuePrior year $4,075$5,163
I-10 Investment incomePrior year $12,419$16,611
I-11 Other revenuePrior year $3,000$7,735
I-12 Total revenuePrior year $20,703$29,939
I-13 Grants and similar amounts paidPrior year $17,000$12,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $17,102$10,347
I-18 Total expensesPrior year $34,102$22,347
I-19 Revenue less expensesPrior year −$13,399$7,592
Part VI · Governance 14 of 14 board members independent, 5 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $29,939 across 13 lines filed
Lines not itemized here account for $1,163 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$100
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$330
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$430
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,000 · Unrelated business $0 · Excluded from tax $0$4,000
VIII-3 Investment incomeRelated to mission $16,611 · Unrelated business $0 · Excluded from tax $0$16,611
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $7,735$7,735
VIII-12 Total revenueRelated to mission $21,774 · Unrelated business $0 · Excluded from tax $7,735$29,939
Part IX · Statement of functional expenses $22,347 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $12,000$12,000
IX-11f Investment management feesPrograms $4,594 · Management $0 · Fundraising $0$4,594
IX-13 Office expensesPrograms $65 · Management $0 · Fundraising $0$65
IX-24 Other expenses (24a–d)Programs $5,688 · Management $0 · Fundraising $0$5,688
IX-25 Total functional expensesPrograms $22,347 · Management $0 · Fundraising $0$22,347
Part X · Balance sheet $623,157 assets, 7 lines filed
X-2 Savings and temporary cash investmentsStart of year $60,467$59,101
X-3 Pledges and grants receivableStart of year $3,000$3,000
X-13 Program-related investmentsStart of year $550,098$561,056
X-16 Total assetsStart of year $613,565$623,157
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $613,565$623,157
X-33 Total liabilities and net assetsStart of year $613,565$623,157
Part XI · Reconciliation of net assets $623,157 net assets at year end
XI-1 Total revenue$29,939
XI-2 Total expenses$22,347
XI-3 Revenue less expenses$7,592
XI-4 Net assets at start of year$613,565
XI-5 Net unrealized gains (losses) on investments−$2,594
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$4,594
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$623,157

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

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