Illinois Business Education
Illinois Business Education is a private foundation focused on Education, based in Sherman, IL. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $1.3M in total assets. In 2025, it awarded 1 grant totaling $11K. Net investment income was $86K.
Illinois Business Education at a glance
In short: Illinois Business Education gave $11K across 1 grant in 2025 (avg $11K), mostly in Illinois. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $11,000
- -50.0% vs 2024
- Grants made (2025)
- 1
- -85.7% vs 2024
- Average grant
- $11,000
- +250.0% vs 2024
- Median grant
- $11,000
- Total assets
- $1,344,945
- +4.5% vs 2024
- Primary geography
- Illinois (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Illinois Business Education funds
How this funder distributes its grants
Grant Size Distribution
17 grants across all recorded years
The most common grant size was under $50K: 17 grants of 17 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
How Illinois Business Education gives
- Giving held roughly steady from 2022 to 2025 (+10%). Method
- In 2025 it paid out 95% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $7K (2023) to $22K (2020). In 2025 it made 1 grant totaling $11K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 1 individual scholarship Recipients not named | — | $11,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $1,344,945 | $128,646 | $73,445 | $11,000 | 1 | $60,526 | $86,307 | $63,450 |
| 2024 | $1,286,783 | $94,683 | $80,551 | $22,000 | 7 | $61,804 | $50,470 | $60,107 |
| 2023 | $1,204,169 | $62,418 | $91,345 | $6,500 | 2 | $88,444 | $31,871 | $57,590 |
| 2022 | $1,200,179 | $110,161 | $38,229 | $10,000 | 3 | $170,425 | $77,846 | $64,797 |
| 2021 | $1,379,048 | $78,737 | $33,239 | $11,250 | 4 | — | $47,747 | $63,309 |
| 2020 | $1,190,741 | $95,869 | $66,522 | $22,350 | 8 | — | $45,243 | $55,689 |
Under IRS private-foundation payout rules, Illinois Business Education reported a distributable amount of $63K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Illinois Business Education is led by Heather Borowiak, President since 2025 (on filings since 2020); 4 of 16 officers listed in 2025 are compensated.
Officers on the 2025 filing
Heather Borowiak
President
Member-At-La → President El, 2024
President El → President, 2025
On filings since 2020
1 hr/week
No compensation reported
Darcy Jeffries
Treasurer
On filings since 2020
5 hrs/week
$600 (2020) → $300 (2025)
David Calkins
Webmaster
On filings since 2020
5 hrs/week
$300 (2020) → $300 (2025)
Gary Hutchinson
Executive Di
On filings since 2020
10 hrs/week
$500 (2020) → $3K (2025)
Rod McQuality
Executive Di
New on the 2025 filing
10 hrs/week
$8K (2025)
Jodee Werkheiser
Public Info
Secretary → Public Info, 2025
On filings since 2020
1 hr/week
No compensation reported
Jon Lebold
Eibea
On filings since 2020
1 hr/week
No compensation reported
Lacy Bugielski
Past President
President Elect → President, 2024
President → Past President, 2025
On filings since 2020
1 hr/week
No compensation reported
Allison Ferguson
President Elect
Pabea → President Elect, 2025
On filings since 2021
1 hr/week
No compensation reported
Jennifer Williams
Mibea
On filings since 2023
1 hr/week
No compensation reported
Christi McGee
Sibea
On filings since 2024
1 hr/week
No compensation reported
April Suter
Pabea & Member
New on the 2025 filing
1 hr/week
No compensation reported
Chris Merrill
Iactel
New on the 2025 filing
1 hr/week
No compensation reported
Elizabeth Terpstra
Cbea
New on the 2025 filing
1 hr/week
No compensation reported
Jaime Stokes
Secretary
New on the 2025 filing
1 hr/week
No compensation reported
Tori Hale
Reports
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (30)
- Former: Josh Ebbert (2020–2024) — Past President
- Former: Karen Drage (2020–2024) — Public Info
- Former: Paul Smith (2024) — Sabea
- Former: Kye-Anne Wilborn (2020–2023) — Cbea
- Former: Susan Timm (2020–2023) — Past President
- Former: Brandan Oates (2020–2022) — Member-At-La
- Former: Carol Brooks (2020–2022) — Immediate Pa
- Former: Cathy Carruthers (2020–2022) — State Director Nc
- Former: Cindy Stover (2020–2022) — Iacte Liaiso
- Former: Deena Powell (2020–2022) — Member-At-La
- Former: Kendra Wofford (2020–2022) — Sibea
- Former: Ryan O'Shea (2020–2022) — Member-At-La
- Former: Vicki Fuhrhop (2020–2022) — Swabea
- Former: Kerri Largo (2021–2022) — Cabea
- Former: Karen Lockhart (2022) — Il St Board of
- Former: Amy Bailey (2020–2021) — Cibea
- Former: Connie Campbell (2020–2021) — Nibea
- Former: Gail Turner (2020–2021) — Member-At-La
- Former: Patrice Boyles (2020–2021) — Immediate Past P
- Former: Abby Barton (2021) — Mibea
- Former: Betsy Westergreen (2021) — Ilcte
- Former: Rob Zumbahlen (2021) — Student Representative
- Former: Chloe Lombardi (2020) — Student Representative
- Former: Diane Mahinda (2020) — Icrp Liaison
- Former: Heidi Eaton (2020) — Ncbea
- Former: Jessie Ervin (2020) — Mibea
- Former: John Deweese (2020) — Isbe Liaison
- Former: John Madden (2020) — Cabea
- Former: Kathleen Daugherty (2020) — Immediate Past
- Former: Melette Pearce (2020) — Wiabea
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $8K, to Rod McQuality (Executive Di). 4 officers or directors reported compensation on that filing.
Frequently asked questions about Illinois Business Education
How much does Illinois Business Education give each year?
Illinois Business Education gave $11K across 1 grant in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $22K across 7 grants.
How large is Illinois Business Education?
Illinois Business Education reported $1.3M in total assets on its 2025 IRS Form 990-PF. It paid out $61K in qualifying distributions that year, against a required minimum of $63K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What is Illinois Business Education?
Illinois Business Education is a private foundation focused on Education, based in Sherman, IL. It holds $1.3M in total assets as of 2025.
Where does Illinois Business Education operate?
Illinois Business Education has awarded grants in Illinois.
What is Illinois Business Education's EIN?
Illinois Business Education's EIN (Employer Identification Number) is 37-6057589. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2025
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