GALESBURG PUBLIC SCHOOL FOUNDATION

EIN: 371221752 501(c)(3)

GALESBURG, IL

Total Revenue
$67,422
Total Expenses
$64,890
Total Assets
$766,480
Net Assets
$766,209
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1987
Legal Domicile
IL
Principal Officer
KRISTI MUSTAIN
Phone
3093429229
Tax Period
2024-01-01 to 2024-12-31

GALESBURG PUBLIC SCHOOL FOUNDATION, founded in 1987, is a micro nonprofit that reported $67K in total revenue in fiscal year 2024. Revenue fell 55% from the prior year — a significant decline worth monitoring. Expenses of $65K left a modest 4% surplus.

Mission

THE RECEIPT OF FUNDS TO BE USED SOLELY TO SUPPLEMENT EDUCATIONAL, EXTRA-CURRICULAR, AND INTERSCHOLASTIC PROGRAMS OPERATED BY THE BOARD OF EDUCATION OF GALESBURG, COMMUNITY UNIT SCHOOL DISTRICT 205, COUNTIES OF KNOX AND WARREN, ILLINOIS, AND STRENGTHEN THE RELATIONSHIP BETWEEN THE PUBLIC SHCOOLS AND THE GALESBURG COMMUNITY. ALSO TO OVERSEE VARIOUS RESOURCES RECEIVED FROM DONORS TO BE INVESTED AND USED IN ACCORDANCE WITH TERMS SPECIFIED BY THE DONOR FOR SCHOLARSHIPS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $58,442
Program Service Revenue $0
Investment Income $8,980
Other Revenue $0
TOTAL REVENUE $67,422

Expense Breakdown

Grants Paid $25,404
Salaries & Benefits $0
Fundraising Expenses $6,046
Program Expenses $25,404
Other Expenses $39,486
TOTAL EXPENSES $64,890

Year-over-Year Comparison

2024 2023 Change
Revenue $67,422 $149,062 -0.5%
Expenses $64,890 $80,981 -0.2%
Net Income $2,532 $68,081 -1.0%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
12
Independent Members
12
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LYNN ARMSTRONG DIRECTOR 0.50
Director
$0 $0 $0
NANCY BERRY DIRECTOR 0.50
Director
$0 $0 $0
BEN BREDEMEIER DIRECTOR 0.50
Director
$0 $0 $0
JENNY BREDEMEIER DIRECTOR 0.50
Director
$0 $0 $0
MARY ESP DIRECTOR 0.50
Director
$0 $0 $0
DENISE FOOTE SECRETARY 0.50
Officer Director
$0 $0 $0
KAREN HAWKINSON TREASURER 0.50
Officer Director
$0 $0 $0
MOLLY KLEINE DIRECTOR 0.50
Director
$0 $0 $0
ZACH MAHER DIRECTOR 0.50
Director
$0 $0 $0
KRISTI MUSTAIN PRESIDENT 1.00
Officer Director
$0 $0 $0
CONNIE WESSELS DIRECTOR 0.50
Director
$0 $0 $0
MARK WILSON VICE PRESIDE 0.50
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $67,422 $64,890 $766,480 $2,532
2023 $149,062 $80,981 $714,672 $68,081
2022 $52,612 $59,767 $689,406 $-7,155
2021 $160,530 $72,450 $792,088 $88,080
2020 $115,257 $66,081 $797,698 $49,176
2019 $106,698 $86,031 $737,559 $20,667
2018 $109,831 $89,132 $716,294 $20,699
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