2025-05-14T11:39:56+00:00 2024-06-30 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2023-07-01 362852334 College of Lake County Foundation COLL 8475432091 19351 West Washington St Grayslake IL 600301198 Kevin Appleton Treasurer-ExOfficio 8475432091 2025-05-14 true true Jennifer Burke P01342224 3128997000 2025-05-14 2023 2025-03-06 01:10:19Z KEVIN Appleton 19351 West Washington St Grayslake IL 600301198 4073546 false X www.clcillinois.edu/aboutclc/clc-foundation X 1974 IL The College of Lake County Foundation seeks to be Lake County's first choice educational foundation. Our philanthropic partnerships support the College's mission to deliver high quality, accessible learning opportunities, advance student success and strengthen the diverse Lake County communities it serves. 29 29 0 100 0 0 2392898 3625274 0 381230 247591 123428 -13506 2897556 3859359 4495798 4387043 0 39060 0 0 43515 8345 136747 4543203 4523790 -1645647 -664431 10877519 10556364 617230 613254 10260289 9943110 Opening doors to educational opportunity for all of Lake County, Illinois. false false 4317074 4317074 0 Payments to the College of Lake County, other organizations and students to be used for grants and scholarships applicable to student tuition and fees. 69969 69969 0 Grants to and on behalf of College of Lake County and other organizations for enhancement of instructional programs. 4387043 true true false false false false false false true false true false false false true true false false false false false false false true false false true true true false false false false false false false false true false false false false false false false false true 0 0 0 false false false false false false false false false false true false false false X 29 29 false false false false false false false true true false false true true true true true true true false false IL X Kevin Appleton 8475432631 19351 West Washington Street Grayslake IL 600301198 Kevin Appleton Treasurer-ExOfficio 0.6 0.0 X X 0 0 0 Brandon Bennett Director 0.6 0.0 X 0 0 0 Christine Lpez Director 0.6 0.0 X 0 0 0 Christopher Piazzi Director 0.6 0.0 X 0 0 0 Dave Galla Director 0.6 0.0 X 0 0 0 Derek Leiter Director 0.6 0.0 X 0 0 0 Dr Ali O Brien Director - ExOfficio 0.6 0.0 X 0 0 0 Dr Kristen Jones Director - ExOfficio 0.6 0.0 X 0 0 0 Dr Lori Suddick Director - ExOfficio 0.6 0.0 X 0 0 0 Elizabeth Kangas Miller Director 0.6 0.0 X 0 0 0 Holly Kerr Director 0.6 0.0 X 0 0 0 J Kenneth Rosko Director 0.6 0.0 X 0 0 0 Jannes E Zobus Director 0.6 0.0 X 0 0 0 Joanna P Rolek Director 0.6 0.0 X 0 0 0 Judith A Haga Director 0.6 0.0 X 0 0 0 Julia Guiney Director 0.6 0.0 X 0 0 0 Kathy Buscaglia Director 0.6 0.0 X 0 0 0 Lincoln Abbey Director 0.6 0.0 X 0 0 0 Lisa Dooley Trace Director 0.6 0.0 X 0 0 0 Meg Largay Director 0.6 0.0 X 0 0 0 Michael S Trimble Director 0.6 0.0 X 0 0 0 Paul Diamond Director 0.6 0.0 X 0 0 0 R Lee Piekarz Director 0.6 0.0 X 0 0 0 Robert R Worobow Director 0.6 0.0 X 0 0 0 Sam Valenti Director 0.6 0.0 X 0 0 0 Sandra Shinsky Director 0.6 0.0 X 0 0 0 Sonja Marinac Director 0.6 0.0 X 0 0 0 Tiffany Peppers Director 0.6 0.0 X 0 0 0 Val Munchez -van der Wagt Director 0.6 0.0 X 0 0 0 Glenda Abbott Vice-Chair 0.6 0.0 X 0 0 0 Kurt Peterson Executive Director (Thru April 2024) 40.0 0.0 X 195697 0 53877 Renee Young Chair 0.6 0.0 X 0 0 0 Scot Parker Secretary 0.6 0.0 X 0 0 0 195697 0 53877 1 false true true 0 109120 3516154 256772 3625274 0 0 0 0 0 203500 203500 0 0 227069 182978 44091 0 44091 44091 17703 109120 31209 -13506 -13506 0 0 0 0 0 3859359 0 0 234085 4371818 4371818 15225 15225 93232 0 93232 0 23885 23885 12307 12307 Miscellaneous 7323 7323 0 0 0 0 4523790 4387043 93232 43515 3864118 2706962 477445 687480 0 0 0 125 132 0 0 0 6535831 7161790 0 0 0 10877519 10556364 614730 588954 2500 24300 0 0 0 617230 613254 X 1199118 1335783 9061171 8607327 10260289 9943110 10877519 10556364 -664431 347252 0 X false true X false false X 1615232 3350699 6322759 2392898 3516154 17197742 0 0 0 0 0 0 763243 777667 646472 594617 590412 3372411 2378475 4128366 6969231 2987515 4106566 20570153 7227966 13342187 107585 103357 142120 391265 203500 947827 0 0 0 0 0 0 0 21517980 0 0.6200 0.6192 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3133345 290434 73702 79107 0 0 3418374 2868035 138477 176917 50084 0 0 3133345 2661590 576794 -276131 94218 0 0 2868035 2160701 153837 413402 66350 0 0 2661590 2097987 26022 97232 60540 0 0 2160701 0.0 0.18 0.82 false false Multi-Managed Mutual Fund 7161790 F 7161790 0 X 4797023 347252 590412 0 937664 3859359 0 0 3859359 5114202 590412 0 590412 4523790 0 0 4523790 Schedule D, Part V, Line 4 Intended uses of endowment funds Endowment funds permanently restricted by the donor where only the income is available for grants and scholarships. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Foundation may recognize a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be substantiated on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the Foundation and various positions related to the potential sources of unrelated business income tax (UBIT). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities during the period covered by these financial statements. GOLF OUTING 126823 109120 17703 31209 0 0 126823 109120 17703 31209 31209 -13506 true College of Lake County 19351 West Washington Street Grayslake IL 60030 362648760 4301849 0 N/A N/A Grants and Scholarships College of Lake County 19351 West Washington Street Grayslake IL 60030 362648760 0 69969 FMV Autos & Equipment General support 2 0 Scholarships and awards 19 15225 0 N/A N/A Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THE ORGANIZATION MONITORS THE USE OF GRANTS AND SCHOLARSHIPS PAID TO ENSURE THEY ARE USED FOR THEIR INTENDED PURPOSE. X X X X false false false false false false false false false Kurt Peterson Executive Director (Thru April 2024) 183547 0 0 0 12150 0 15520 0 38357 0 249574 0 0 0 Schedule J, Part II COMPENSATION FROM AN UNRELATED ORGANIZATION OR INDIVIDUAL NAME - KURT PETERSON, COMPENSATION FROM UNRELATED ORGANIZATION - 249574.000000, NAME OF UNRELATED ORGANIZATION - COLLEGE OF LAKE COUNTY, TYPE OF COMPENSATION - SALARIES AND BENEFITS X 3 14513 Market value X 9 186803 Market value X Equipment 2 55456 Market value 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Cars and other vehicles - Number of contributions Securities - Publicly traded - Number of contributions Other - Equipment Number of contributions Form 990, Part VI, Line 11b Review of form 990 by governing body A draft copy of Form 990 is provided to all members of the Finance Committee. The Finance Committee reviews and requests updates, if any. A current draft copy is then provided to the entire Foundation Board before its meeting. The Board approves Form 990, pending formal recommendation at the Finance Committee meeting. Form 990 is filed after acceptance by the Finance Committee. Form 990, Part VI, Line 12c Conflict of interest policy The organization has a conflict of interest policy. Each board member is expected to review, disclose and sign it annually. Any reported potential conflicts are forwarded to the board's finance committee for review. Upon review, if it is determined that there is a conflict, the finance committee forwards a recommendation to the Board Executive Committee and/or the Foundation board for final resolution. Form 990, Part VI, Line 15a Process to establish compensation of top management official The Executive Director and other staff members are employees of the College of Lake County (an unrelated organization). The associated payroll costs are enumerated in contributed services on Schedule D, Part XI and XII. The Executive Directors compensation is determined through market comparables of peer community colleges and CUPA database by the College of Lake County Human Resources. The Executive Directors performance is reviewed annually. Compensation is approved annually by the College of Lake County Board of Trustees and is substantiated in meeting minutes and codified in Executive Directors annual employment contract. Form 990, Part VI, Line 19 Required documents available to the public All governing documents, policies and financial statements are available for public inspection upon request. Form 990, Part VI, Line 1A Delegate Broad Authority To A Committee TAKEN FROM THE BYLAWS ARTICLE IX, THE EXECUTIVE COMMITTEE SHALL be comprised of the elected officers of the Foundation, chairpersons of standing committees, the immediate past Board chair, the Foundation Executive Director, and the College President, and shall have full authority to act for the Board of Directors in the management of the corporation. FORM 990, PART VI, LINE 15B PROCESS TO ESTABLISH COMPENSATION OF OTHER OFFICERS OR KEY EMPLOYEES NO KEY EMPLOYEES (PER 990 DEFINITION) AND NO OTHER OFFICERS ARE PAID BY THE ORGANIZATION.