Nonprofit · EIN 36-3575698
STERLING SCHOOLS FOUNDATION
Tax-exempt · STERLING, IL 61081
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $2,997,750 | $2,048,357 | $949,393 | $7,914,542 | $0 | $7,914,542 |
| June 30, 2024 | 990 | $1,559,586 | $1,836,322 | -$276,736 | $7,690,825 | $0 | $7,690,825 |
| June 30, 2023 | 990 | $1,072,222 | $943,398 | $128,824 | $7,758,889 | $0 | $7,758,889 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $1,267,417
- Program service revenue
- $5,285
- Investment income
- $1,497,611
- Net rental income
- $17,270
- Net gain from sales of assets
- $1,202,277
- Net income from fundraising events
- $10,971
- Net income from sales of inventory
- $35,237
- Other revenue
- $227,437
Expenses
- Grants and similar amounts paid
- $619,852
- Compensation of officers, directors and key employees
- $66,939
- Other salaries and wages
- $34,611
- Salaries, compensation and benefits (total)
- $112,823
- Professional fundraising fees
- $0
- Accounting fees
- $31,977
- Occupancy
- $69,056
- Depreciation
- $45,478
- Program services (functional)
- $1,835,646
- Management and general (functional)
- $208,014
- Fundraising (functional)
- $4,697
Balance sheet and other
- Total assets, start of year
- $7,690,825
- Total assets, end of year
- $7,914,542
- Total liabilities, end of year
- $0
- Net assets, end of year
- $7,914,542
- Land, buildings and equipment
- $847,719
- Publicly traded securities
- $6,692,006
- Net assets without donor restrictions
- $3,669,981
- Net assets with donor restrictions
- $4,244,561
- Gross receipts
- $3,120,600
- Employees
- 0
- Volunteers
- 150
- Year formed
- 1989
- State of legal domicile
- IL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| JIM C SPENCER | EXECUTIVE DI Officer | 30 | $0 | $89,674 |
| ED ANDERSEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAM CAPES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PETER W DILLON | VICE PRESIDE Trustee or director, Officer | 1 | $0 | $0 |
| TAD EVERETT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WILLIAM LEE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TERRY MCGUIRE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ALICE RETER | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| HEATHER SOTELO | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| SCOTT WOLBER | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| GREG ZIEGLER | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2024: 11 people
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| JIM C SPENCER | EXECUTIVE DI Officer | 30 | $0 | $89,674 |
| ED ANDERSEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAM CAPES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PETER W DILLON | VICE PRESIDE Trustee or director, Officer | 1 | $0 | $0 |
| TAD EVERETT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WILLIAM LEE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TERRY MCGUIRE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ALICE RETER | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| HEATHER SOTELO | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| SCOTT WOLBER | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| GREG ZEIGLER | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 12 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JIM C SPENCER | EXECUTIVE DIRECTOR Officer | 30 | $0 | $89,431 | $16,039 |
| SCOTT WOLBER | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| PETER W DILLON | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| HEATHER SOTELO | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ALICE RETER | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ED ANDERSEN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| PAM CAPES | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| TAD EVERETT | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| WILL LEE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| TERRY MCGUIRE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MAGGIE WIKE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| GREG ZEIGLER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 510 E MILLER RD, STERLING, IL 61081-1348
- Principal officer (990 for 2024)
- JIM C SPENCER, 510 E MILLER RD, STERLING, IL 61081
- Signed the 990
- JIM C SPENCER, EXECUTIVE DIRECTOR
- Phone
- (815) 626-0022
- Return prepared by
- LUCAS GROUP CPAS ADVISORS LLC
Mission
TO PROMOTE EXCELLENCE BY FINDING CREATIVE AND INNOVATIVE PROJECTS FOR THE STAFF AND STUDENTS OF STERLING'S SCHOOLS. FOUNDATION MONIES ALLOW THE STERLING SCHOOL SYSTEM TO INITIATE, CONTINUE, OR EXPAND EDUCATIONAL PROJECTS OTHERWISE LEFT WITHOUT ADEQUATE MONEY TO PROCEED BECAUSE OF BUDGETARY CONSTRAINTS OR COMPELLING PRIORITIES. THE FOUNDATION IS DEDICATED TO THE IDENTIFICATION AND FUNDING OF PROGRAMS AND PROJECTS THAT WILL RAISE THE LEVEL OF ACADEMIC ACHIEVEMENT OF ALL STERLING PUBLIC SCHOOL STUDENTS. OUR GOAL IS TO HELP PROVIDE THE VERY BEST EDUCATION FOR STUDENTS AS THEY PREPARE FOR CHALLENGES OF LIFE.
Program accomplishments
- AUDITORIUM OPERATIONS - CENTENNIAL AUDITORIUM IS LOCATED ON THE CAMPUS OF STERLING HIGH SCHOOL, WHICH IS PART OF THE STERLING PUBLIC SCHOOL SYSTEM. THE STERLING SCHOOLS FOUNDATION RAISED THE FUNDS TO BUILD THE AUDITORIUM IN 1998 AND CONTINUES TO FUND ALL OPERATIONAL EXPENSES AT THE FACILITY, INCLUDING UPKEEP, MAINTENANCE, UTILITIES, AND STAFF. THIS IS AN ONGOING PROGRAM AND SERVED 15,000 PEOPLE THIS YEAR.Expenses $797,390 · grants $619,852
- SHS ATHELETIC BOOSTER CLUB PROVIDES AS NEEDED FINANCIAL ASSISTANCE TO STERLING HIGH SCHOOL ATHLETIC PROGRAMS AND ATHLETES. SERVED 453 STUDENTS.Expenses $152,431
- GOLDEN WARRIOR TV PROGRAM PROVIDES LIVE VIDEO COVERAGE OF STERLING PUBLIC SCHOOLS SPORTING EVENTS, CONCERTS, CEREMONIES, ETC. REVENUE IS GENERATED FROM SUBSCRIPTION AND ADVERTISING SALES. NUMBER SERVED 1,000.Expenses $59 · revenue $5,285
- ADDITIONAL PROGRAMS INCLUDE GW BASEBALL CLUB, A+ INITIATIVE, ACADEMIC BOOSTER CLUB, BLUE & GOLD PROGRAM, TOOLS & TECHNOLOGY PROGRAM, & OTHERS. THESE PROGRAMS SERVE STUDENTS & ALUMNI OF THE STERLING SCHOOL SYSTEM.Expenses $885,766
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 36-3575698
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1989
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $7,914,542
- Income (IRS master file)
- $3,120,600
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $2,997,750 | $2,048,357 | $7,914,542 | XML |
| 990 | June 2024 | $1,559,586 | $1,836,322 | $7,690,825 | IRS |
| 990 | June 2023 | $1,072,222 | $943,398 | $7,758,889 | XML |
| 990 | June 2022 | $1,221,484 | $1,089,418 | $7,391,480 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 36-3575698).
Questions about STERLING SCHOOLS FOUNDATION
- What is the EIN of STERLING SCHOOLS FOUNDATION?
- The employer identification number (EIN) of STERLING SCHOOLS FOUNDATION is 36-3575698.
- Is STERLING SCHOOLS FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1989.
- Are donations to STERLING SCHOOLS FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does STERLING SCHOOLS FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of STERLING SCHOOLS FOUNDATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did STERLING SCHOOLS FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of STERLING SCHOOLS FOUNDATION?
- The 990 for the year ended June 30, 2025 names JIM C SPENCER.
- Who are the officers and directors of STERLING SCHOOLS FOUNDATION?
- The 990 for the year ended June 30, 2025 lists 11 people; 0 received compensation from the organization.
- How much revenue does STERLING SCHOOLS FOUNDATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $2,997,750, expenses of $2,048,357 and total assets of $7,914,542 at year end.
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