Sterling Schools Foundation

Analysis

Sterling Schools Foundation is a registered charity in United States, based in Sterling, IL. It received its IRS tax-exemption ruling in February 1989, 37 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Sterling Schools Foundation reported income of $1.1m and spending of $943k, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.3m to $1.1m (-16%), an average of -4.4% a year. The sharpest change came in the year to June 2020, when income dropped by 34%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Sterling Schools Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within IL. Charities of a similar size with the same main cause include Clinco Sheltered Industries Inc ($1.1m), Texas Academic Decathlon Foundation ($1.1m) and National Association of Schools of Art and Design Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% and program service revenue 0.4% of the total. Compensation of current officers, directors and key employees was $45k (4.7% of expenses). Other salaries and wages came to $22k. At year end it held assets of $7.8m against liabilities of $0, net assets of $7.8m.