2025-01-21T12:20:43-06:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 301 SW ADAMS STREET SUITE 1000 PEORIA IL 61602 990 2023-07-01 371207827 ILLINOIS CENTRAL COLLEGE FOUNDATION ILLI 3096945337 ONE COLLEGE DRIVE EAST PEORIA IL 61635 BRUCE BUDDE CHIEF FINANCIAL OFFICER 3096945337 2025-01-13 1 1 SAMUEL A CIGELNIK P00324762 3096714500 2025-01-13 2023 2024-10-15 13:58:12Z ICC EDUCATIONAL FOUNDATION STEPHANIE HOLMES ONE COLLEGE DRIVE EAST PEORIA IL 61635 6884877 0 X WWW.ICC.EDU X 1988 IL RAISE FUNDS TO SUPPORT THE EDUCATIONAL, CHARITABLE AND BENEVOLENT PURPOSE OF ILLINOIS CENTRAL COLLEGE DISTRICT #514. 18 18 0 50 0 0 1045761 1004576 1917815 1999899 782890 1454605 -32084 495280 3714382 4954360 736914 760612 0 0 0 0 0 0 0 3252002 3600067 3988916 4360679 -274534 593681 38398159 41793754 14641582 14330849 23756577 27462905 X 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. 0 0 2557650 2415080 PROVIDE FINANCIAL ASSISTANCE IN ORDER TO PROVIDE STUDENT HOUSING FOR 330 STUDENTS ON CAMPUS FOR ILLINOIS CENTRAL COLLEGE. 760612 760612 AWARDED STUDENT SCHOLARSHIPS TO 532 QUALIFYING ILLINOIS CENTRAL COLLEGE STUDENTS. 1042417 MISCELLANEOUS SUPPORT PROVIDED TO ILLINOIS CENTRAL COLLEGE FOR CHILD CARE PROGRAMS, ATHLETIC DEPARTMENT EXPENSES, INTERNATIONAL STUDIES PROGRAM, TECHNICAL TRADES AND INSTRUCTIONAL SUPPLIES. 4360679 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 X X BRUCE BUDDE 3096945477 ONE COLLEGE DRIVE EAST PEORIA IL 61635 BRUCE BUDDE CHIEF FINANCIAL OFFICER 4.00 40.00 X X 0 242335 25522 TINA WALTON BOARD MEMBER 1.00 X 0 0 0 NICK LAVIN TREASURER 1.00 X X 0 0 0 JULIA M ISSA-GHANTOUS SECRETARY 1.00 X X 0 0 0 JOHN SUTHERLAND BOARD MEMBER 1.00 X 0 0 0 GEORGE GHAREEB BOARD MEMBER 1.00 X 0 0 0 DON JACKSON BOARD MEMBER 1.00 X 0 0 0 DAVID ZERN BOARD MEMBER 1.00 X 0 0 0 CRAIG HABEGER BOARD MEMBER 1.00 X 0 0 0 BRIAN SLATER BOARD MEMBER 1.00 X 0 0 0 BRIAN JOHNSON BOARD MEMBER 1.00 X 0 0 0 ANGIE OSTASZEWSKI BOARD MEMBER 1.00 X 0 0 0 AARON KILGORE VICE PRESIDENT 1.00 X X 0 0 0 CARISSA ISBELL BOARD MEMBER 1.00 X 0 0 0 GALE THETFORD BOARD MEMBER 1.00 X 0 0 0 CEDRIC VOLKMER BOARD MEMBER 1.00 X 0 0 0 KATHY MA PRESIDENT 1.00 X X 0 0 0 MATTHEW KURTH BOARD MEMBER 1.00 X 0 0 0 DIANE LAMB BOARD MEMBER 1.00 X 0 0 0 DR SHEILA QUIRK-BAILEY PRESIDENT - ICC 2.00 40.00 X 0 307182 34907 STEPHANIE HOLMES EXECUTIVE DIRECTOR FNDN 40.00 0.00 X 0 93312 17943 KIM ARMSTRONG VP OF MARKETING 2.00 40.00 X 0 165002 18807 0 807831 97179 0 0 1 0 0 88806 915770 108419 1004576 STUDENT HOUSING 611710 1999899 1999899 1999899 672825 672825 2705997 1924217 781780 781780 781780 86399 88806 6300 80099 80099 INSURANCE RECOVERY PROCEEDS 524298 415181 415181 415181 4954360 2415080 0 1534704 760612 760612 296 296 91531 91531 379639 379639 176596 176596 3558 3558 21784 21784 668993 668993 460840 460840 483336 483336 STUDENT HOUSING CONTRAC 564398 564398 STUDENT HOUSING UTILITI 271919 271919 STUDENT HOUSING MAINTEN 243307 243307 STUDENT HOUSING OPERATI 233870 233870 4360679 4360679 0 0 195627 332992 1494492 621398 421223 80000 613716 339858 7726 36578 14188767 9372595 4596717 4816172 31068658 35484837 0 81919 38398159 41793754 272629 563957 15524 6528 14353429 13760364 14641582 14330849 X -6796225 -4606290 30552802 32069195 23756577 27462905 38398159 41793754 593681 3112647 0 X X 0 1 X 1 0 X 983853 2019197 1195293 1045761 1004576 6248680 291246 309056 264050 249441 446954 1560747 1275099 2328253 1459343 1295202 1451530 7809427 2029536 5779891 416516 716521 1125867 567099 672825 3498828 415181 415181 11723436 8551528 0.49300 0.56840 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25598701 1027754 3632158 -760612 -731044 28766957 28247326 1036158 -2346620 736914 601249 25598701 31750147 1151435 -3977345 554480 122431 28247326 24956802 2003753 5378631 580549 8490 31750147 23906541 969080 925898 693824 150893 24956802 0.08000 0.92000 0 0 12665380 8289787 4375593 580436 251958 328478 942951 830850 112101 4816172 PUBLIC TRADED SECURITIES 35484837 C 35484837 X 8428730 3112647 446954 6300 3565901 4862829 91531 91531 4954360 4722402 446954 6300 453254 4269148 91531 91531 4360679 PART V, LINE 4: THE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR EDUCATION AND CHARITABLE PURPOSES AND NOT FOR FINANCIAL GAIN. ITS PRIMARY GOAL IS TO OBTAIN AND ADMINISTER FUNDS FOR ILLINOIS CENTRAL COLLEGE, DISTRICT NO 514, EAST PEORIA, ILLINOIS, FOR THE PURPOSE OF DEVELOPING AND AUGMENTING ITS FACILITIES AND CARRYING OUT ITS EDUCATIONAL FUNCTIONS. PART X, LINE 2: THE FOUNDATION HAS A TAX DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE STATING THEY QUALIFY UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS EXEMPT FROM FEDERAL INCOME TAXES. AS SUCH, THE FOUNDATION IS SUBJECT TO FEDERAL INCOME TAXES ONLY ON ANY NET UNRELATED BUSINESS INCOME UNDER THE PROVISION OF SECTION 511 OF THE CODE. THE FOUNDATION FILES A FORM 990 ANNUALLY. WHEN THESE RETURNS ARE FILED, IT IS HIGHLY CERTAIN THAT SOME POSITIONS TAKEN WOULD BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHERS ARE SUBJECT TO UNCERTAINTY ABOUT THE MERITS OF THE TAX POSITION TAKEN OR THE AMOUNT OF THE POSITION THAT WOULD ULTIMATELY BE SUSTAINED. EXAMPLES OF TAX POSITIONS COMMON TO ORGANIZATIONS LIKE THE FOUNDATION INCLUDE SUCH MATTERS AS THE FOLLOWING: THE TAX EXEMPT STATUS OF EACH ENTITY AND VARIOUS POSITIONS RELATIVE TO POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBIT). UBIT IS REPORTED ON FORM 990-T, AS APPROPRIATE. THE BENEFIT OF A TAX POSITION IS RECOGNIZED IN THE FINANCIAL STATEMENTS IN THE PERIOD DURING WHICH, BASED ON ALL AVAILABLE EVIDENCE, MANAGEMENT BELIEVES THAT IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING THE RESOLUTION OF APPEALS OR LITIGATION PROCESSES, IF ANY. TAX POSITIONS ARE NOT OFFSET OR AGGREGATED WITH OTHER POSITIONS. TAX POSITIONS THAT MEET THE "MORE LIKELY THAN NOT" RECOGNITION THRESHOLD ARE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50% LIKELY TO BE REALIZED ON SETTLEMENT WITH THE APPLICABLE TAXING AUTHORITY. THE PORTION OF THE BENEFITS ASSOCIATED WITH TAX POSITIONS TAKEN THAT EXCEEDS THE AMOUNT MEASURED AS DESCRIBED ABOVE IS REFLECTED AS A LIABILITY FOR UNCERTAIN TAX BENEFITS IN THE ACCOMPANYING STATEMENTS OF FINANCIAL POSITION ALONG WITH ANY ASSOCIATED INTEREST AND PENALTIES THAT WOULD BE PAYABLE TO THE TAXING AUTHORITIES UPON EXAMINATION. AS OF JUNE 30, 2024 AND 2023, THERE WERE NO UNCERTAIN TAX BENEFITS IDENTIFIED AND RECORDED AS A LIABILITY. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 6,300. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 6,300. SIMPLY DIVINE 90611 63428 27183 4920 COMMUNITY CELEBRATION 84594 25378 59216 1380 175205 88806 86399 6300 6300 80099 1 SCHOLARSHIPS 532 760612 PART I, LINE 2: ALL FUNDS ARE GIVEN TO ILLINOIS CENTRAL COLLEGE. ILLINOIS CENTRAL COLLEGE IS A LOCAL UNIT OF GOVERNMENT. THE SAME ACCOUNTING AND STAFF ARE USED TO REVIEW AND COMPILE ALL FINANCIAL INFORMATION. 0 0 0 0 0 0 0 0 0 DR SHEILA QUIRK-BAILEY PRESIDENT - ICC 0 302826 0 0 0 4356 0 15000 0 19907 0 342089 0 0 BRUCE BUDDE CHIEF FINANCIAL OFFICER 0 239563 0 0 0 2772 0 6000 0 19522 0 267857 0 0 KIM ARMSTRONG VP OF MARKETING 0 160826 0 0 0 4176 0 0 0 18807 0 183809 0 0 A CITY OF EAST PEORIA 376002143 27441PAR5 2007-03-26 18224608 SEE DETAILED DESCRIPTION ON PART VI. 0 1 0 A 4300000 19090194 1494493 418953 810421 1 0 1 1 A 0 0 0 0 1 0 1 A 0 0 0 1 0 0 0 0 1 A 0 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CITY OF EAST PEORIA DATE THE REBATE COMPUTATION WAS PERFORMED: 05/13/2013 SCHEDULE K, PART I, (F) DESCIPTION OF PURPOSE: REFINANCE NOTE PAYABLE ON CONSTRUCTION DEBT USED TO CONSTRUCT AND EQUIP A 128-UNIT, 330-BED STUDENT RESIDENCE FACILITY ON THE COLLEGE'S CAMPUS IN EAST PEORIA, ILLINOIS. SCHEDULE K, PART II, LINE 3: ADDITIONAL CLOSING PROCEEDS AND PREMIUM MAKE UP THE DIFFERENT BETWEEN THE ISSUE PRICE LISTED IN PART I AND TOTAL PROCEEDS LISTED ON LINE 3 OF PART II. NICK LAVIN TREASURER OF THE BOARD OF TRUSTEES 11551 PAYMENTS TO CONNOR & CO., FOR PLUMBING, HVAC SERVICES RENDERED FOR DIRKSEN BUILDING IMPROVEMENTS, AIT BUILDING IMPROVEMENTS, AND THE NEW BUILD OF THE WORKFORCE SUSTAINABILITY BUILDING 0 JOHN SUTHERLAND PJ HOERR BOARD MEMBER 3370969 PAYMENTS FOR CONTRACTOR SERVICES RENDERED FOR THE NEW WORKFORCE SUSTAINABILITY BUILDING, EDA BUILDING IN PEKIN, AND THE POND RESTORATION, 0 DAVID ZERN BOARD MEMBER 1132177 PAYMENTS TO HUB INTERNATIONAL MIDWEST LIMITED, FOR INSURANCE SERVICES RENDERED. 0 X 2703 FMV X 6 74860 FMV X 3 10025 FMV X 35 10215 FMV X AUTOMATIC TRANSMISSIONS & ENGINES 4 9716 FMV X GIFT CARDS 9 900 FMV 0 0 0 PART I, COLUMN (B): NUMBER OF CONTRIBUTIONS REPRESENT THE NUMBER OF ITEMS RECEIVED. FORM 990, PART VI, SECTION B, LINE 11B INFORMATION FOR THE FORM 990 IS GATHERED BY THE FOUNDATION DATABASE AND FINANCE SPECIALIST, CONTROLLER, STAFF ACCOUNTANT, ACCOUNTING SPECIALIST, FOUNDATION DIRECTOR, ADMINISTRATIVE ASSISTANT TO THE TREASURER AND FOUNDATION DEVELOPER. THE FINAL FORM 990 IS REVIEWED BY THE TREASURER AND EXECUTIVE DIRECTOR OF THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 12C EACH BOARD MEMBER IS REQUIRED ANNUALLY TO FILL OUT A CONFLICT OF INTEREST STATEMENT AND CONFLICTS ARE ANNOUNCED AND DISCUSSED AT A BOARD MEETING. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE LISTED ON OUR WEBSITE AND THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS FOR SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM PRIOR YEARS. 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