Chicagoland Entrepreneurial Center
- Assets
- $6.3m
- Revenue
- $9.0m
- Investments
- $0.0
- Employees
- 36
- Location
- Chicago, IL
- Founding
- 12/2007
- Data as of
- 06/2022
- EIN
- 20-8411320
Organization Overview
Chicagoland Entrepreneurial Center, operating under the name 1871, is located in Chicago, IL. The organization was established in 2007. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, 1871 employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 1871 is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, 1871 generated $9.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $10.1m during the year ending 06/2022. While expenses have increased by 4.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CENTER PROMOTES AND GROWS CHICAGO'S ENTREPRENEURIAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHICAGOLAND ENTREPRENEURIAL CENTER (THE "CENTER") SEEKS TO MAKE A PERCEPTIBLE AND LASTING ECONOMIC IMPACT ON THE CHICAGO REGION BY HELPING ENTREPRENEURS AND HIGHGROWTH BUSINESSES BUILD VIABLE, SUSTAINABLE, AND PROFITABLE ENTERPRISES THROUGH ITS FLAGSHIP PROGRAM 1871. THE 1871 PROGRAM STARTED IN APRIL 2012 WITH THE OPENING OF ITS NOW 150,000 SQUARE FOOT STATE-OF-THE-ART FACILITY DESIGNATED TO SUPPORT THE FOLLOWING PURPOSES: (1) PROVIDE AFFORDABLE, FLEXIBLE SPACE FOR EARLY-STAGE STARTUP COMPANIES AND ENTREPRENEURS "MEMBERS" WHO ARE BUILDING DIGITAL BUSINESS; (2) PROVIDE EVENTS, MENTORSHIP, CLASSES, AND PROGRAMS THAT ARE RELEVANT TO ENTREPRENEURS' BUILDING DIGITAL BUSINESS; AND (3) PROVIDE OTHER SERVICES AND SUPPORT FOR DIGITAL BUSINESSES AND THE CHICAGO STARTUP COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Betsy Ziegler CEO | OfficerTrustee | 40 | $520,433 |
Jim O'connor Chariman | OfficerTrustee | 0.1 | $0 |
Laura Ferris Anderson Treasurer | OfficerTrustee | 0.1 | $0 |
Larry Eppley Secretary | OfficerTrustee | 0.1 | $0 |
Adam Hecktman Board Member | Trustee | 0.1 | $0 |
Amanda Lannert Board Member | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $791,032 |
| Related organizations | $0 |
| Government grants | $750,193 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,527,667 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,068,892 |
| Total Program Service Revenue | $4,059,954 |
| Investment income | $420 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$120,706 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,008,560 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $897,272 |
| Compensation of current officers, directors, key employees. | $448,636 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,087,247 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,885 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,653 |
| Fees for services: Accounting | $65,340 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $29,254 |
| Office expenses | $271,762 |
| Information technology | $99,028 |
| Royalties | $0 |
| Occupancy | $3,573,387 |
| Travel | $41,678 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $15,108 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,276,453 |
| Insurance | $0 |
| All other expenses | $14,000 |
| Total functional expenses | $10,092,393 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,197,115 |
| Savings and temporary cash investments | $520,000 |
| Pledges and grants receivable | $1,057,444 |
| Accounts receivable, net | $97,407 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,906 |
| Net Land, buildings, and equipment | $1,854,993 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $581,490 |
| Other assets | $0 |
| Total assets | $6,314,355 |
| Accounts payable and accrued expenses | $2,973,441 |
| Grants payable | $0 |
| Deferred revenue | $652,704 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,039,352 |
| Unsecured mortgages and notes payable | $10,000 |
| Other liabilities | $3,029,626 |
| Total liabilities | $8,705,123 |
| Net assets without donor restrictions | -$2,390,768 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,314,355 |
Grants Awarded
Over the last fiscal year, Chicagoland Entrepreneurial Center has awarded $10,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WOOD FAMILY FOUNDATION PURPOSE: 2017 TICKETS FOR TABLE | $5,000 |
IVCA (V) PURPOSE: 2017 IVCA AWARDS DINNER SEATS FOR 10 PEOPLE | $5,000 |