SCHUYLER COUNTY EDUCATION FOUNDATION: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
SCHUYLER COUNTY EDUCATION FOUNDATION (EIN 37-1264166)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-11-16
IRS object ID
202103209349301735
Schema version
2020v4.1
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)
Return2021-11-16T11:29:49-06:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN364474078PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1SIDLEY AUSTIN LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1ONE SOUTH DEARBORN SUITE 2900AddressLine1Txt
CityCHICAGOCityNm
State AbbreviationILStateAbbreviationCd
ZIP60603ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN371264166EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1SCHUYLER COUNTY EDUCATION FOUNDATIONBusinessNameLine1Txt
Business Name Line2C/O RUSHVILLE STATE BANKBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlSCHUBusinessNameControlTxt
Phone2173223323PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 50AddressLine1Txt
CityRUSHVILLECityNm
State AbbreviationILStateAbbreviationCd
ZIP62681ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonLINDA M BUTLERPersonNm
Person TitleVICE PRESIDENT AND TRUST OFFICERPersonTitleTxt
Phone2173223323PhoneNum
Signature2021-11-15SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstLINDAPersonFirstNm
Person LastBUTLERPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMICHAEL A CLARKPreparerPersonNm
PTINP01482699PTIN
Phone3128537000PhoneNum
Preparation2021-11-15PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer0TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerLINDA M BUTLERPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 50AddressLine1Txt
CityRUSHVILLECityNm
State AbbreviationILStateAbbreviationCd
ZIP62681ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$28,138GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressN/AWebsiteAddressTxt
Type Of Organization TrustYes (X)TypeOfOrganizationTrustInd
Formation1988FormationYr
Legal Domicile StateILLegalDomicileStateCd
Activity Or MissionPERFORM THE FUNCTIONS AND CARRY OUT THE PURPOSES OF SCHUYLER-INDUSTRY COMMUNITY UNIT SCHOOL DISTRICT #5 THROUGH SCHOLARSHIPS AND GRANTSActivityOrMissionDesc
Voting Members Governing Body4VotingMembersGoverningBodyCnt
Voting Members Independent2VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers5TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$55,849PYContributionsGrantsAmt
CY Contributions Grants$16,000CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$14,291PYInvestmentIncomeAmt
CY Investment Income$12,138CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$70,140PYTotalRevenueAmt
CY Total Revenue$28,138CYTotalRevenueAmt
PY Grants And Similar Paid$107,372PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$10,646CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$2,588PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$6,667PYOtherExpensesAmt
CY Other Expenses$8,090CYOtherExpensesAmt
PY Total Expenses$116,627PYTotalExpensesAmt
CY Total Expenses$18,736CYTotalExpensesAmt
PY Revenues Less Expenses-$46,487PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$9,402CYRevenuesLessExpensesAmt
Total Assets BOY$511,894TotalAssetsBOYAmt
Total Assets EOY$521,296TotalAssetsEOYAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$511,894NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$521,296NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTHE EDUCATION FOUNDATION EXISTS TO BENEFIT, PERFORM THE FUNCTIONS OF, AND CARRY OUT THE PURPOSES OF THE SCHUYLER COMMUNITY UNIT SCHOOL DISTRICT #5 THROUGH SCHOLARSHIP GRANTS TO SCHUYLER COUNTY RESIDENTS AND THE SUPPORT OF SCHOOL AND COMMUNITY FACILITIES AVAILABLE TO STUDENTS IN SCHUYLER COUNTY,MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$8,900ExpenseAmt
Grant$8,900GrantAmt
DescSCHOLARSHIPS TO 22 SCHUYLER COUNTY RESIDENTSDesc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Expense$1,746ExpenseAmt
Grant$1,746GrantAmt
DescEXPENDITURES FOR THE CONSTRUCTION, RENOVATION, MAINTENANCE, AND OPERATION OF COMMUNITY FACILITIES AVAILABLE FOR USE BY SCHUYLER COUNTY STUDENTS AND/OR SCHOOL PROGRAMS.Desc
FieldValueIRS element (for citing)
Total Program Service Expenses$10,646TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To IndividualsYes (1)GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Form8282 Filed0Form8282FiledCnt
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members4GoverningBodyVotingMembersCnt
Independent Voting Member2IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn Body0Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy0ConflictOfInterestPolicyInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention Policy0DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldILStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1RUSHVILLE STATE BANKBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2173223323PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 50AddressLine1Txt
CityRUSHVILLECityNm
State AbbreviationILStateAbbreviationCd
ZIP62681ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (5 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtInstitutional TrusteeInstitutionalTrusteeInd
BRAD ESKRIDGE
SCHOOL BOARD PRESIDENT1.00Yes (X)$0$0$0
DR BEAU FRETUEG
SICUSD #5 SUPERINTENDENT1.00Yes (X)$0$0$0
LINDA BUTLER
TRUSTEE REPRESENTATIVE1.00Yes (X)$0$0$0
GREG ROEGGE
PRESIDENT, RUSHVILLE ST. BANK1.00Yes (X)$0$0$0
RUSHVILLE STATE BANK
TRUSTEE5.00$3,084$0$0Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$3,084TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
All Other Contributions$16,000AllOtherContributionsAmt
Total Contributions$16,000TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$12,138TotalRevenueColumnAmt
Exclusion$12,138ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$28,138TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$12,138ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$1,746TotalAmt
Program Services$1,746ProgramServicesAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$8,900TotalAmt
Program Services$8,900ProgramServicesAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$2,312TotalAmt
Management And General$2,312ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$5,007TotalAmt
Management And General$5,007ManagementAndGeneralAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$771TotalAmt
Management And General$771ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$18,736TotalAmt
Program Services$10,646ProgramServicesAmt
Management And General$8,090ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
EOY-$1EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$292,060BOYAmt
EOY$299,544EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$219,834BOYAmt
EOY$221,753EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$511,894BOYAmt
EOY$521,296EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$511,894BOYAmt
EOY$521,296EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$511,894BOYAmt
EOY$521,296EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$511,894BOYAmt
EOY$521,296EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$9,402ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS Audited0FSAuditedInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$17,000CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$23,500CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$410,600CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$55,849CurrentTaxYearMinus1YearAmt
Current Tax Year$16,000CurrentTaxYearAmt
Total$522,949TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$17,000CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$23,500CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$410,600CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$55,849CurrentTaxYearMinus1YearAmt
Current Tax Year$16,000CurrentTaxYearAmt
Total$522,949TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$210,601SubstantialContributorsTotAmt
Public Support Total170$312,348PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$9,746CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$9,752CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$11,866CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$12,718CurrentTaxYearMinus1YearAmt
Current Tax Year$12,137CurrentTaxYearAmt
Total$56,219TotalAmt
FieldValueIRS element (for citing)
Total Support$579,168TotalSupportAmt
Public Support CY1700.53930PublicSupportCY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

FieldValueIRS element (for citing)
Grant TypeSCHOLARSHIPSGrantTypeTxt
Recipient21RecipientCnt
Cash Grant$8,900CashGrantAmt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART I, LINE 2:THE REPRESENTATIVES OF THE CORPORATE TRUSTEE AND ALL OF THE FOUNDATION'S ADVISORY COMMITTEE MEMBERS ARE RESIDENTS OF SCHUYLER COUNTY AND LIVE IN OR NEAR RUSHVILLE, ILLINOIS. THEY ARE THUS IN A POSITION TO REGULARLY REVIEW THE RESULTS OF THE FOUNDATION'S GRANT PROGRAMS FOR THE CONSTRUCTION, MAINTENANCE, OR OPERATION OF PROGRAMS BENEFITTING COMMUNITY RESIDENTS AND STUDENTS OF RUSHVILLE-INDUSTRY COMMUNITY UNIT SCHOOL DISTRICT #5.
PART III, LINE 1THE FOUNDATION IS A TRUST, MANAGED BY A TRUSTEE, THE RUSHVILLE STATE BANK. IN ADDITION, ALL DECISIONS REGARDING PROGRAM EXPENDITURES AND GRANTS BY THE FOUNDATION ARE REVIEWED BY ITS ADVISORY COMMITTEE, CONSISTING OF THE SUPERINTENDENT OF THE SCHUYLER-INDUSTRY COMMUNITY UNIT SCHOOL DISTRICT, THE PRESIDENT OF THE BOARD OF EDUCATION OF THE DISTRICT, AND ONE REPRESENTATIVE APPOINTED BY THE DIRECTORS OF THE TRUSTEE, THE RUSHVILLE STATE BANK (CURRENTLY THE BANK'S PRESIDENT). THE RUSHVILLE STATE BANK TRUST OFFICER OVERSEEING THE ADMINISTRATION OF THE TRUST ALSO ATTENDS MEETINGS OF THE ADVISORY COMMITTEE ON BEHALF OF THE TRUSTEE. ALL OF THESE INDIVIDUALS HAVE CONNECTIONS TO THE SCHOOL DISTRICT DUE TO THEIR POSITIONS AND RESIDENCE IN THE COMMUNITIES SERVED BY THE SCHOOL DISTRICT. THE FOUNDATION CURRENTLY HAS FOUR SCHOLARSHIP PROGRAMS. THE MICHAEL WARD SCHOLARSHIP IS AWARDED TO A STUDENT OR GRADUATE OF THE DISTRICT ENROLLED AT THE UNIVERSITY OF ILLINOIS AT CHAMPAIGN-URBANA FOR THE FALL SEMESTER. THE VICTOR WOOD MEMORIAL SCHOLARSHIP IS AWARDED TO A SENIOR AT RUSHVILLE-INDUSTRY HIGH SCHOOL WHO WILL BE ATTENDING A COMMUNITY COLLEGE, COLLEGE, OR UNIVERSITY TO ENTER THE FIELD OF EDUCATION. THE RUTH HOLLENBACK SCHOLARSHIP IS AWARDED TO STUDENTS WHO ARE RESIDENTS OF SCHUYLER COUNTY AND DEMONSTRATE FINANCIAL NEED AND ARE ENROLLED IN A VOCATIONAL SCHOOL, COMMUNITY COLLEGE, COLLEGE, OR UNIVERSITY. THE A HAND UP SCHOLARSHIP IS AWARDED TO A SENIOR AT RUSHVILLE-INDUSTRY HIGH SCHOOL WHO IS A SCHUYLER COUNTY RESIDENT AND PLANS TO PURSUE HIGHER EDUCATION AT AN ACCREDITED TRADE SCHOOL. THE FOUNDATION VERIFIES INITIAL ELIGIBILITY BY VERIFYING INITIAL AND, WHERE APPLICABLE, CONTINUING ELIGIBILITY BY REVIEWING PROOF OF ENROLLMENT SUCH AS BILLS OR CLASS SCHEDULES.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BPURSUANT TO THE FOUNDATION'S GOVERNING DOCUMENTS, IT IS ADMINISTERED BY A CORPORATE TRUSTEE, RUSHVILLE STATE BANK. THE CORPORATE TRUSTEE REVIEWS THE RETURNS IN ACCORDANCE WITH ITS NORMAL ADMINISTRATIVE PROCEDURES. THE RETURN IS MADE AVAILABLE TO THE FOUNDATION'S GOVERNING BODY UPON REQUEST.
FORM 990, PART VI, SECTION C, LINE 19THE FOUNDATION DOES NOT ROUTINELY MAKE ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. BECAUSE THE FOUNDATION HAS A CORPORATE TRUSTEE WITH FIDUCIARY DUTIES, THE FOUNDATION DOES NOT HAVE A CONFLICT OF INTEREST POLICY.

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