Galesburg Community Foundation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 5,287,709 | 2,447,501 | 2,840,208 | 157.5 | 19% |
| 2021 | 5,623,656 | 2,991,717 | 2,631,939 | 147.7 | 16% |
| 2022 | 4,442,595 | 4,118,553 | 324,042 | 92.5 | 14% |
| 2023 | 13,597,781 | 4,056,603 | 9,541,178 | 127.8 | 15% |
In its most recent public year (2023), this organization brought in $9,541,178 more than it spent. Its reserves stood at about 127.8 months of spending, down from 157.5 in 2020. Staff pay was 15% of spending. $32,011,555 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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