South Main Shopping Center
- Assets
- $51.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Rockford, IL
- Founding
- 09/2002
- Data as of
- 09/2022
- EIN
- 02-0552826
Organization Overview
South Main Shopping Center is located in Rockford, IL. The organization was established in 2002. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Main Shopping Center is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 09/2022, South Main Shopping Center generated $14.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $10.8k during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (21.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
TO PROVIDE AND ATTRACT MORE QUALITY RETAIL GOODS AND SERVICES, PROVIDE JOBS FOR NEIGHBORHOOD RESIDENTS, ELIMINATE BLIGHT AND RETURN A BROWNFIELD SITE TO USE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Phelps Executive Di | 2 | $181,142 | |
Donald Banks Director | 1 | $0 | |
Audra Moncur Director | 1 | $0 | |
Karl Swanson Assistant Tr | 1 | $0 | |
Todd Cagnoni Director | 1 | $0 | |
Jeff Fahrenwald Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $13,960 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $13,960 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $6,085 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $4,669 |
| Total expenses | $10,754 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $2,661 |
| Other assets | $0 |
| Total assets | $51,917 |
| Total liabilities | $240 |
| Net assets or fund balances | $51,677 |
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