PROSPECT COMMUNITY FDN INC: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
PROSPECT COMMUNITY FDN INC (EIN 83-3090105)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-05-13
IRS object ID
202521339349103627
Schema version
2024v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-05-13T15:43:49-04:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN370623191PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1LARSSON WOODYARD & HENSON LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 426AddressLine1Txt
CityPARISCityNm
State AbbreviationILStateAbbreviationCd
ZIP619440426ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN833090105EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PROSPECT COMMUNITY FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPROSBusinessNameControlTxt
Phone2174654154PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 400AddressLine1Txt
CityPARISCityNm
State AbbreviationILStateAbbreviationCd
ZIP61944ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonERIC VOLKMANNPersonNm
Person TitleCHAIRMANPersonTitleTxt
Phone2174654154PhoneNum
Signature2025-05-13SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMARLA D COFFMANPreparerPersonNm
PTINP00973603PTIN
Phone2174656494PhoneNum
Preparation2025-05-13PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$1,787,617FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$75,384ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$56InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$56InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$56InterestOnSavingsAdjNetIncmAmt
Other Income Rev And Expnss$950OtherIncomeRevAndExpnssAmt
Other Income Adj Net Incm$950OtherIncomeAdjNetIncmAmt
Total Rev And Expnss$76,390TotalRevAndExpnssAmt
Total Net Invst Incm$56TotalNetInvstIncmAmt
Total Adj Net Incm$1,006TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$2,520AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$2,520AccountingFeesChrtblPrpsAmt
Deprec And Dpltn Rev And Expnss$37,738DeprecAndDpltnRevAndExpnssAmt
Other Expenses Rev And Expnss$39,854OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$39,854OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$80,112TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$42,374TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$3,750ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$3,750ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$83,862TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$46,124TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$7,472ExcessRevenueOverExpensesAmt
Net Investment Income$56NetInvestmentIncomeAmt
Adjusted Net Income$1,006AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$49,752CashBOYAmt
Cash EOY$11,150CashEOYAmt
Cash EOYFMV$11,150CashEOYFMVAmt
Land Bldg Equip Cost Or Other Bss$1,830,869LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$54,402LandBldgEquipAccumDeprecAmt
Land BOY$1,745,337LandBOYAmt
Land EOY$1,776,467LandEOYAmt
Land EOYFMV$1,776,467LandEOYFMVAmt
Total Assets BOY$1,795,089TotalAssetsBOYAmt
Total Assets EOY$1,787,617TotalAssetsEOYAmt
Total Assets EOYFMV$1,787,617TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$1,795,089NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$1,787,617NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$1,795,089TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,787,617TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,795,089TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,787,617TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,795,089TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$7,472ExcessRevenueOverExpensesAmt
Subtotal$1,787,617SubtotalAmt
Tot Net Ast Or Fund Balances EOY$1,787,617TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1InvestmentIncomeExciseTaxAmt
Subtotal$1SubtotalAmt
Tax Based On Investment Income$1TaxBasedOnInvestmentIncomeAmt
Tax Due$1TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateILOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationYes (true)PrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksERIKA NAILIndividualWithBooksNm
Phone2174654154PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 400AddressLine1Txt
CityPARISCityNm
State AbbreviationILStateAbbreviationCd
ZIP61944ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
ERIC VOLKMANN
PO BOX 400PARISIL61944CHAIRMAN2.00$0$0$0
JENNELLE ADAMS
PO BOX 400PARISIL61944VICE CHAIRMA1.00$0$0$0
ERIKA NAIL
PO BOX 400PARISIL61944TREASURER1.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1EXPENDITURES RELATED TO DEVELOPING COMMUNITY PARKS AND OTHER BEAUTIFICATION PROJECTS.Description1Txt
Expenses1$46,124Expenses1Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$27,720AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$27,720TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$27,720AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$416CashDeemedCharitableAmt
Net Vl Noncharitable Assets$27,304NetVlNoncharitableAssetsAmt
Minimum Investment Return$1,365MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Sect4942j3j5 Fndtn And Frgn OrgYes (X)Sect4942j3j5FndtnAndFrgnOrgInd

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$46,124ExpensesAndContributionsAmt
Charitable Assets Acquis Paid$68,869CharitableAssetsAcquisPaidAmt
Qualifying Distributions$114,993QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Qualifying Distributions$114,993QualifyingDistributionsAmt
Remaining Distri From Corpus$114,993RemainingDistriFromCorpusAmt
Total Corpus$114,993TotalCorpusAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

FieldValueIRS element (for citing)
Private Operating Fndtn Ruling2021-03-02PrivateOperatingFndtnRulingDt
Section4942j3Yes (X)Section4942j3Ind

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

FieldValueIRS element (for citing)
Current Year$1,006CurrentYearAmt
Year1$483Year1Amt
Year2$699Year2Amt
Year3$279Year3Amt
Total$2,467TotalAmt

Pct85 Lessor Adj Incm Or Min Ret Pct85LessorAdjIncmOrMinRetGrp

FieldValueIRS element (for citing)
Current Year$855CurrentYearAmt
Year1$411Year1Amt
Year2$594Year2Amt
Year3$237Year3Amt
Total$2,097TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Current Year$114,993CurrentYearAmt
Year1$861,473Year1Amt
Year2$11,104Year2Amt
Year3$13,396Year3Amt
Total$1,000,966TotalAmt

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$114,993CurrentYearAmt
Year1$861,473Year1Amt
Year2$11,104Year2Amt
Year3$13,396Year3Amt
Total$1,000,966TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Current Year$910CurrentYearAmt
Year1$6,284Year1Amt
Year2$12,546Year2Amt
Year3$15,579Year3Amt
Total$35,319TotalAmt

Supplementary Information SupplementaryInformationGrp

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonPROSPECT BANKRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 400AddressLine1Txt
CityPARISCityNm
State AbbreviationILStateAbbreviationCd
ZIP61944ZIPCd
FieldValueIRS element (for citing)
Recipient Phone2144654154RecipientPhoneNum
Form And Info And MaterialsWRITTEN APPEALFormAndInfoAndMaterialsTxt
Submission DeadlinesNOSubmissionDeadlinesTxt
Restrictions On AwardsDEVELOPMENT AND OPERATION OF PUBLIC PARKS, AMPHITHEATER AND COMMUNITY PARKS, COMMUNITY GARDEN AND OTHER COMMUNITY BEAUTIFICATION PROJECTS.RestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
EDGAR COUNTY COMMUNITY FDN
PO BOX 426PARISIL61944NONENO-PFDRONES FOR PARIS POLICE$1,250
KANSAS POLICE DEPARTMENT
104 S FRONT STKANSASIL61933NONEGOVTSQUAD CAR$2,500
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$3,750TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Program Service Revenue Dtl ProgramServiceRevenueDtl

FieldValueIRS element (for citing)
DescAMPHITHEATER EVENTSDesc
Exclusion16ExclusionCd
Exclusion$950ExclusionAmt

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$56ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$1,006ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$1,006TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1EDGAR COUNTY BANCSHARES INCBusinessNameLine1Txt

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 400AddressLine1Txt
CityPARISCityNm
State AbbreviationILStateAbbreviationCd
ZIP61944ZIPCd
FieldValueIRS element (for citing)
Total Contributions$75,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEESCategoryTxt
Amt$2,520Amt
Disbursements Charitable Prps$2,520DisbursementsCharitablePrpsAmt

Depreciation Schedule DepreciationSchedule

Depreciation Property DepreciationPropertyGrp (19 entries)

PropertyPropertyDescAcquiredAcquiredDtCost Or Other BasisCostOrOtherBasisAmtLifeLifeRtPrior Year DepreciationPriorYearDepreciationAmtComputation MethodComputationMethodTxtCurrent Year ExpenseCurrentYearExpenseAmt
LAND - NORTH OF BANK2020-12-31$140,00039.0000
LAND - 232 N CENTRAL (VADAS)2018-12-31$58,200
LAND-110-114 E UNION2018-12-31$190,000
LAND - 110 W UNION (HOMER'S)2019-12-31$74,891
LAND - 119 E WOOD2020-12-31$415,000
LAND - ADDL COST TO N MAIN2023-08-23$143,835
PAVILION/AMPHITHEATER2023-08-23$427,45039.0000$4,007S/L$10,687
PAVILION FANS2023-08-23$4,4667.0000$319S/L$638
OUTDOOR SPEAKERS2023-08-23$24,5377.0000$1,753S/L$3,505
PAVILION CANOPY/TENT2023-08-23$8397.0000$60S/L$120
BIKE RACKS2023-08-23$6,3637.0000$454S/L$909
CCTV2023-08-23$18,8417.0000$1,346S/L$2,691
20' STORAGE CONTAINER2023-08-23$3,6507.0000$261S/L$521
PAVILION LIGHTING2023-10-20$9,19415.0000$306S/L$613
STREET LIGHTS & SIGN2023-08-23$137,79315.0000$4,593S/L$9,186
PARKING LOT/LAND IMPROVEMENT2023-08-23$106,94215.0000$3,565S/L$7,129
PAVILION BRICK WORK2024-04-12$59,20139.0000S/L$1,048
SOUND EQUIPMENT2024-05-15$1,6737.0000S/L$120
AMPHITHEATER SECURITY SYSTEM2024-08-13$7,9947.0000S/L$571

Land Etc Schedule2 LandEtcSchedule2

Land Etc LandEtcGrp (2 entries)

Cost Or Other BasisCostOrOtherBasisAmtAccumulated DepreciationAccumulatedDepreciationAmtBook ValueBookValueAmtCategory Or ItemCategoryOrItemTxtEOYFMVEOYFMVAmt
$808,943$54,402$754,541
$1,021,926$1,021,926LAND$1,776,467

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

FieldValueIRS element (for citing)
DescPAVILION IN PROGRESSDesc

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (11 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
EXPENSES
FILING FEES$18$18
INSURANCE$6,510$6,510
IL ATTY GEN FILING FEE$15$15
UTILITIES$4,425$4,425
ACCOUNTING SOFTWARE$1,141$1,141
EQUIPMENT & MAINTENANCE$7,352$7,352
MOWING/LAND MAINTENANCE$8,134$8,134
SUPPLIES$15$15
BOOKING FEES$7,000$7,000
OUTSIDE CONTRACT SERVICES$5,244$5,244

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescAMPHITHEATER EVENTSDesc
Revenue And Expenses Per Books$950RevenueAndExpensesPerBooksAmt
Adjusted Net Income$950AdjustedNetIncomeAmt

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